by Christopher Peterson On monday the American Banker ran a well written story by Jeff Horwitz on the document problems slowing down foreclosures. It focuses on whether document custodians actually have the possession of key documents, including especially promissory notes. The article (subscription...

By Inman News, Bank of America said it’s extended its review of foreclosure documents to all 50 states, and will stop all foreclosure sales until the review is completed. The ongoing assessment, previously confined to 23 states where courts have jurisdiction over foreclosures, “shows the...

September of 2010 could be the beginning of a foreclosure halt by the Top 7 banks across the United States. Ally Financial, a unit of GMAC has already agreed to halt foreclosures in 23 states. JP Morgan Chase has reportedly halted 56,000 foreclosures as well. This foreclosure halt was instituted after...

Obama mortgage-aid effort is struggling to stem the rising number of foreclosures in US WASHINGTON (AP) — Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out. The program is intended to help those at risk of...

A grand jury in Santa Clara County has indicted three individuals with foreclosure fraud. The case involves homeowners across California and six other states and homeowner of mostly Latino descent. The indictment against Rene Alvarez, age 39, Mariano Ortega, age 34 and Cydney Sanchez, age 60 alleges...

Quality Loan Service Corporation of Washington was ordered to pay the estate of Mrs. Dorothy Halstien two hundred thirty thousand dollars for selling the now deceased woman’s Whidbey home at auction after she fell behind in payments. Legal Professionals believe this is the first case to reach a jury...

Originaly by: Responsible Lending The magnitude of foreclosures and associated costs are daunting; the numbers tell the story. 1. Number of loans already lost to foreclosure 1.5 million 2. Projected foreclosures on all types of loans during the next 5 years 13 million 3. Portion of all homeowners late...

The United States District Attorney for Queens, New York, Richard A. Brown, announced in a press release last month that Harry Coumnas, age 50, has been indicted for second degree attempted grand larceny, second – degree criminal possession of a forged instrument and other charges related to his involvement...

Homeowners that are delinquent on their property mortgages are attempting to stop mortgage servicers from foreclosing on them by citing compliance mistakes, lost documentation and predatory lending. An attorney in California has boosted about his success in halting mortgage lenders from foreclosing...