Tag Archives: Banks

Short Sales on the Rise, Borrowers Beware

A recent article in USA Today indicates that short sales increased 10% from a year ago, and now account for 12% of nationwide home sales. The article touts the benefits of short sales as an alternative to foreclosure, including a shorter turnaround time and reduced impact on the neighborhood.  You have to read the last...
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Bank of America Branch Pad-Locked After Wrongful Foreclosure

A Florida court found that Bank of America wrongfully foreclosed on a home (the homeowners did not owe the bank a dime) and ordered the bank to pay the legal fees incurred by the homeowners in defending against the foreclosure.  After five months, the bank refused to satisfy the judgment.  Not to be outdone, the...
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The Loan Modification Debacle

Over the last several months, we have been hearing more and more complaints about banks and the troubles caused by the HAMP legislation recently enacted by the Obama administration (Home Affordable Mortgage Program).  Stephanie Armour of USA Today discusses a variety of lawsuits that have been filed across the country by consumers in this article in relation...
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