Legal
Ruling Wrongful Foreclosure Dismissed in Appeals
Ruling Wrongful Foreclosure Dismissed in Appeals Wondering if the homeowner ever wins? The short answer is YES. It may be in an appeals court, but if you know you are right, and that the foreclosure process was improperly handled, then it may be worth the court and attorney costs plus the time involved in resolving…
Read MoreFHA Foreclosure Reversed
FHA Mortgage Foreclosure Reversed: Court wants Lender to prove the followed correct procedure FHA loans have been widely used, more so since the implosion of sub-prime lenders, for mortgages where insufficient documented credit is available, or where credit is less than perfect for other reasons. In Ohio, in Lakeview Loan Servicing LLC v. Dancy, the…
Read MoreThe CFPB Sues Ocwen
Ca0oHUiWrd8 700 400 default CFPB Suit against Ocwen alleges lack of Foreclosure Protection… And total Failure of Mortgage Servicing Process In a 93 page complaint recently filed in Southern District of Florida, the Consumer Financial Protection Bureau alleged that Ocwen Financial Corporation, Ocwen Mortgage Servicing, Inc. and Ocwen Loan Servicing, LLC, collectively “Ocwen” “…improperly calculated…
Read MoreKnow Who Affects Your Mortgage Servicing
JqjsB1GgGJ0 700 400 default Know the People Who Affect How Your Mortgage Servicing Is Handled The Servicing Association has a new Chairman. Ray Barbone, not to be confused with the shady character named Ray Barboni in the movie Get Shorty, is a well credentialed Executive Vice President (EVP) of Mortgage Services at BankUnited. BankUnited, the…
Read MoreCalifornia's New Survivor Bill of Rights (SBOR) Has Gone Into Effect
Just a heads up for those who were still unaware and a reminder for those who may have forgotten about the new law: September 29, 2016, California passed a new bill into law called the Homeowner Survivor Bill of Rights or SBOR. SBOR, which went into effect January 1, 2017, should be of significant assistance…
Read MorePACE Bill Introduced
New Bill targets predatory lending on energy improvements: The Protecting Americans and Credit Entanglements Act This Week, three Republican senators introduced a bill intended to prevent predatory lending practices connected to the financing and installation of solar energy panels…as in PACE (Property Assessed Clean Energy) loans. Or, as I will refer to it (Predatory Aging…
Read MoreThe PACE of Foreclosure in Green Mortgages
The PACE of Foreclosure in Green Mortgages: GreenLoans putting homeownership at risk PACE (property Assessed Clean Energy) loans might not be as clean as their title suggest. The Government encouraged the program, but in 2010, FNMA (Federal National Mortgage Association aka Fannie Mae) halted participation in the program due to the acceleration clause. PACE loans…
Read More45 Million Dollar BOA Fine
5g4XYq25-2Q 700 400 default Judge’s $45 Million Bank of America Fine No Laughing Matter In an incredible Wrongful Mortgage Foreclosure case, California bankruptcy Judge Christopher Klein was so appalled by Bank of America’s (BOA’s) willful disregard for US foreclosure law and for its own customers, that he levied a $45 million punitive damages judgment, with…
Read MoreFederal vs. State Foreclosure Law Suit
Federal vs. State Foreclosure Law Suit Federal vs. State Foreclosure Law Suit Previously we learned that states have a choice in how they regulate home loan transactions and the types of rules and contracts used. They are either JUDICIAL states which require the contract to be a MORTGAGE, or in NON-JUDICIAL states, which utilize a…
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