Mortgage Foreclosure & Refinance Resource

According to the LA Times a new incentive for lenders to refinance more mortgages is being considered by regulators who oversee the U.S. thrift industry, which suffered a record $5.2-billion loss in the fourth quarter of 2007 as the housing market deteriorated, the U.S. Office of Thrift Supervision said Wednesday.
The OTS said it was looking [...]

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One problem is that mortgage servicers make their money from late fees and other penalties charged to borrowers.”There’s a built-in incentive for the servicing industry to really rip people off,” contends Richard Gaudreau, a Salem attorney who specializes in consumer bankruptcy law. “If they can throw your payment into a suspense account because it’s a [...]

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Chart of foreclosure fillings of Prime vs Sub-prime mortgages.

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