Mortgage Foreclosure & Refinance Resource

In a scathing article, “MORTGAGE MELTDOWN Interest rate ‘freeze’ – the real story is fraud Bankers pay lip service to families while scurrying to avert suits, prison” Sean Olender gets to the heart of the proposed ‘buyout’ and ‘freeze’. A must read article, but here is the gist: The sole goal of the freeze is [...]

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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.

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The number of foreclosures jumped to 223,538 in September, 99% higher than the number last year, though down 8% from August, according to RealtyTrac, which compiles housing data. California had the largest number of foreclosures, with 51,259, and Florida was second, with 33,354. With statistics like that lenders are becoming more flexible in their negotiations [...]

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