It’s about time that the government wakes up to the schemes some of these banks are pulling on borrowers and taxpayers. Neil Garfield put it best…”Well you have to give credit to Sheila Baer. She gets it. Here she is going after the IndyMac executives for making loans to developers that they knew would not [...]
Last will & testament for banks
May 11, 2010 By Leave a Comment
This is another example of the need to determine exactly where you mortgage loan resides. If you used to be with a mortgage company that no longer exists or filed bankruptcy than it is very likley your tax dollars have bailed out your mortgage. While this is more funny than helpful, this Bloomberg article points [...]
IndyMac is a shady operation – HAMP, we don’t need no stinking HAMP
May 2, 2010 By Leave a Comment
IndyMac is a shady operation. One of our staff used to be on the inside working against homeowners but (in my words…turned his life around) and now battles for home owners. He tells tales of “being trained” on programs like HAMP and seeing blacked out sections. When he asked why IndyMac (now OneWest) redacted [...]
FDIC’s plan for your foreclosure situation
March 22, 2010 By Leave a Comment
Finally, the Foreclosure Prevention Tool Kit we’ve all been waiting on!!! I’m not sure why every Federal agency feels the need to create a foreclosure prevention tool kit. See the ”Tool Kit” here. How about this surefire way. Pay off the mortgage. Ok, so maybe that is a little extreme. How about this one. Make all [...]
Obama Bank Policy shoots for $1 Trillion in Writedowns
March 19, 2010 By Leave a Comment
As Neil Garfield points out in the following information: “This is red meat for investors and borrowers seeking restitution for losses caused by improper appraisals, ratings and representations concerning loan and property values, loan viability, securities fraud, deceptive lending practices, TILA violations etc.” Ok, so if the mortgage is written down, how does that inpact [...]
