WEDNESDAY, FEBRUARY 27, 2013

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HOMEOWNERS NEWS

ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Foreclosure Horror Story: Jacqueline Barber Struggles To Keep Her Atlanta Home From U.S. Bank My name is Jacqueline Barber. I spent 20 years working as an officer and detective for the Atlanta Police Department. I am working with Occupy Our Homes Atlanta. In 1998, I was struck by a car while on the job, causing spinal injuries that left me unable to work. Forced into early retirement, I spent the next few years recovering and welcoming new grandchildren to my ever-expanding family. In 2005, while visiting a former coworker with my daughter, I came across my dream home. A friend urged me to apply for a loan, which I did and then quickly forgot about. A few weeks later, I got a call from a loan officer telling me that I had been approved and asking me when we wanted to move.

Foreclosure: When MERS lays down and plays defendant MERS was introduced to the mortgage industry as a solution to electronically track the nations home loans in replacement for traditional land records. But its capacity in tracking loans quickly morphed making the giant a vested entity in the mortgages it helped to originate and in the nations foreclosure process it promised to streamline.MERS plays a changing role in the foreclosure process, making conflicting appearances on the foreclosure scene as both the agent to the foreclosing bank and as a.

Fannie Mae Announces New HomePath for Short Sales Escalation Process Once a case is escalated, Fannie Mae will directly engage with the agent or servicer to address challenges such as valuation disputes, delays by servicers or uncooperative subordinate lien holders. Agents can also use the new escalation process to receive a recommended list price from Fannie Mae prior to listing the property for sale. Our goal is to prevent foreclosures and help stabilize communities, says Jay Ryan, vice president for real estate sales, Fannie Mae. By giving agents a straightforward, transparent.

Blistering Judicial Opinion Regarding "Bring a court action" On the defense side, we see that nearly every letter that goes out contains some kind of deviationsome large, some smallfrom the contents expressly required by the contract. When the bank fails to send out a letter that contains all the elements required by the mortgage, we seek, and often obtain, a dismissal or judgment for the defense. On the plaintiffs side, the argument is always close enough.

Had Foreclosure Reviews Continued, BofA Would Have Owed At Least $10 Billion: Naked Capitalism Banks can now quickly channel $3.5 billion to homeowners, with nearly everyone who received a foreclosure notice in 2009 or 2010 getting a cut, they have said. But as we reported last week, the reviewers who were reviewing home loans until they were abruptly laid off at the beginning of the year say that the original goal of the reviews as described by regulators -- to distribute.

IRS Announces Guidance Reduction for HAMP

on

Principal

DAs office investigating modification/foreclosure fraud case

loan

To help financially distressed homeowners lower their monthly mortgage payments, Treasury and HUD established HAMP, which is described at www.makinghomeaffordable.gov. Under HAMP-PRA, the principal of the borrowers mortgage may be reduced by a predetermined amount called the PRA Forbearance Amount if the borrower satisfies certain conditions during....

A fraud case involving an alleged loan modification/foreclosure consultant in the Santa Maria area is being investigated by the Santa Barbara County District Attorneys Office. The case involves an organization that operates primarily out of Los Angeles County but has victimized many homeowners in northern Santa Barbara County.

California Inventory Continues to Diminish as Foreclosure Activity Falls Foreclosure activity was somewhat mixed in the five Western statesArizona, California, Nevada, Oregon, and Washingtonobserved by ForeclosureRadar over the month of January California processed 5,447 foreclosure sales in January after 5,908 in December. While the alphabet soup of Federal programs has successfully prolonged, or catapulted delinquent homeowners out of the foreclosure process, the unintended consequence is now an acute lack of available housing inventory for sale, according to ForeclosureRadar. Adequate inventory is necessary for a recovery to take place, but is lacking in much of the state, according to the analytics firm.