Mortgage Foreclosure & Refinance Resource

NOBODY wins when a home enters foreclosure — neither the borrower, who is evicted, nor the lender, who takes a loss when the home is resold. That’s the conventional wisdom, anyway. The reality is very different. Behind the scenes in these dramas, a small army of law firms and default servicing companies, who represent mortgage [...]

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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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According to the AP News, homeowners have sued Fidelity National Information Services Inc., a giant financial data-processing company, accusing it of raising the price that cash-strapped consumers must pay to avoid foreclosure of their homes. The lawsuit, filed Jan. 16 in the U.S. Bankruptcy Court in Houston, contends that Fidelity has conspired with mortgage-servicing companies [...]

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