According to CNN and New York Times, Countrywide Financial, the nation’s leading mortgage lender, is facing a federal probe into its foreclosure practices. The U.S. Trustee, a part of the Justice Department, subpoenaed records to determine if two foreclosures in southern Florida represented abuses of the bankruptcy system by the lender.
Entries Tagged as 'Mortgage Litigation'
Countrywide and others investigated for foreclosure abuse
November 28th, 2007 · 1 Comment
Tags: Mortgage Litigation · Mortgage Scams
Congress Passes Bills Helping Home Owners in Foreclosure
November 28th, 2007 · 1 Comment
According to a statement released by Speaker Nancy Pelosi there are some interesting laws coming to help homeowners who are facing or are in foreclosure. One of the bills modifies the way IRS treats the forgiven mortgage balance and the other helps those in bankruptcy negotiate with lenders. Details below: End Taxes on Mortgage Debt [...]
Tags: Foreclosure Information · Mortgage Litigation
Freddie Mac Sued Over Mortgage Losses
November 21st, 2007 · No Comments
Scott Reimer, shareholder has filed a lawsuit against Freddie Mac, its CEO and others on Wednesday, alleging the No. 2 U.S. home funding company did not take adequate steps to protect itself from problems in the mortgage industry. In the complaint filed in U.S. District Court in Manhattan Reimer accuses Freddie Mac, CEO Richard Syron [...]
Tags: Mortgage Litigation