Alexander Bankruptcy Law Firm blog

BofA mortgage move not likely to have big consumer impact

2012-02-26T12:56:00.002-08:00

Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank...

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Phony deeds, many mortgages key to massive mortgage fraud

2012-02-26T12:55:00.002-08:00

For fugitives Victor and Natalia Wolf, the police poster tells the story: hundreds of victims from land fraud swindles across Florida totaling millions in losses. But the couple's lasting legacy may...

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Mortgage relief faces a nightmare

2012-02-26T12:54:00.000-08:00

If the Mortgage Forgiveness Debt Relief Act expires Dec. 31, homeowners may have to pay taxes on any reduction in their principal. Given the huge public and private resources now being devoted to...

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Beware: Mortgage Fees Are Rising

2012-02-26T12:53:00.002-08:00

Increased fees are sneaking into the overall cost of most mortgages. But given the ultralow interest rates these days, it's likely few borrowers will notice. Mortgage rates are clinging near record...

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Arizona gets $1.6 billion in mortgage settlement case

2012-02-26T12:48:00.000-08:00

Arizonans will divide up about $1.6 billion from a nationwide settlement announced Thursday with five major mortgage lenders. The cash is part of a $26 billion pact to settle claims that the lenders...

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Committee: Homeowners facing foreclosure should know what banks paid for mortgages

2012-02-26T12:46:00.002-08:00

Hoping to place Nevadans facing foreclosure in a better negotiating position with their lenders, a state panel recommended Thursday that banks be required to disclose how much they paid for...

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Foreclosure delays leave homeowners in limbo

2012-02-26T12:45:00.003-08:00

Foreclosures across the nation slowed in the wake of the 2010 robo-signing scandal, in which lenders were accused of rushing through foreclosure documents without proper review, an issue recently...

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Facing foreclosure? Get help for free

2012-02-26T12:45:00.000-08:00

Organizations certified by the U.S. Department of Housing and Urban Development should be the first stop for people who have fallen behind on their mortgage or are worried they're about to. These...

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Foreclosure settlement a failure of law, a triumph for bank attorneys

2012-02-26T12:44:00.000-08:00

After many months of wrangling, a foreclosure settlement has been reached between 49 state attorneys general and a consortium of banks. It is an epic failure of law and a triumph for bank...

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AG: Foreclosure victims deserve more relief

2012-02-26T12:43:00.002-08:00

New Hampshire Attorney General Michael Delaney insisted the federal settlement with five major banks for mortgage fraud will not be the last word on offering help to beleaguered homeowners. Gov. John...

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Starting over after foreclosure

2012-02-26T12:42:00.000-08:00

The passage of time eventually helps smooth the way. Some homeowners who were foreclosed on when the market first started to skid are now looking to buy again and are getting loans. "They're...

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Past foreclosure means waiting years for new loan

2012-02-26T12:39:00.000-08:00

Next to filing for bankruptcy protection, nothing wrecks your chances of qualifying for a home loan like a foreclosure. And if you got out from under an oppressive mortgage through a short sale —...

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Occupy takes foreclosure protest to Wells Fargo CEO's home

2012-02-26T12:38:00.000-08:00

The foreclosure protests got personal on Saturday as Occupy protesters gathered in front of the home of Wells Fargo chairman and CEO John Stump in San Francisco's Russian Hill to deliver their...

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Pride, Shame Fuel Consumer Bankruptcies

2012-02-26T12:31:00.000-08:00

For years economists and financial advisers have scratched their heads and wondered how so many Americans wound up in bankruptcy. Studies have shown that bankruptcy isn't all that hard to avoid, but...

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How low does your income need to be in order to file for bankruptcy?

2012-02-25T16:49:00.003-08:00

One thing my clients worry about is whether their income is so high they will not be eligible to file for Chapter 7 bankruptcy. The 2005 changes to bankruptcy laws put in income caps. The truth is,...

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Bonuses given after raises at Solyndra; authorized by bankruptcy court

2012-02-23T10:39:00.000-08:00

Several of the nearly two dozen employees at bankrupt solar panel maker Solyndra LLC who were approved for bonuses Wednesday had months earlier received pay raises as high as 70 percent, a fact the...

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Hidden taxpayers costs emerge from mortgage settlement

2012-02-19T13:03:00.000-08:00

This might explain why the final terms of the government’s $25 billion mortgage settlement with five big banks hasn’t been filed yet. More than a week after the settlement was announced, the official...

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Mortgage Settlement Plan is More Bank Bailout

2012-02-19T13:02:00.000-08:00

The whole purpose of a settlement is that a party pays damages to rid themselves of liability, and the amount they pay (and “pay” can include the cost of reforming their conduct) is less than what...

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Will foreclosure reach the White House?

2012-02-19T12:58:00.001-08:00

Take a look at the states with the highest foreclosure rates, how do they match up to the 2008 Red - Blue election map? The 11 states with the highest foreclosure rates represent a total of 150...

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How "Big Banks" Settlement Affects Homeowners

2012-02-19T12:55:00.000-08:00

What the settlement means to you Principal reduction: At least $17 billion will go to reducing the principal owed by homeowners who are both underwater and behind on their mortgages. The agreement...

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Housing crisis could play key role in election

2012-02-19T12:54:00.000-08:00

Right now, housing is not yet a front-and-center issue for President Obama or any of the Republican presidential hopefuls. But no less than five national surveys indicate that the issue is a...

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Florida has one-fourth of nation’s foreclosures

2012-02-19T12:53:00.000-08:00

Florida's share of the nation's foreclosure crisis increased during the fourth quarter of last year compared with the same time in 2010 as other hard-hit states, such as California, shed some of...

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Homeowners, Advocates Call for Temporary Stop to Foreclosures in California

2012-02-19T12:52:00.000-08:00

A week after Attorney General Kamala Harris announced an $18 billion settlement for California’s foreclosure victims, homeowners and housing rights advocates declared the need to temporarily halt all...

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Foreclosure activity edges higher in January

2012-02-19T12:50:00.001-08:00

Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year while lenders sorted out foreclosure-abuse...

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Romney: Managed bankruptcy is why auto industry came back

2012-02-19T12:49:00.000-08:00

Farmington Hills— Mitt Romney returned to his native Metro Detroit on Thursday and said he wouldn't have let the U.S. auto industry disappear in the depths of the recession when government loans were...

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