Mistakes widespread on foreclosures, lawyers say
Paperwork mistakes that led one of the nation's largest mortgage servicers to halt foreclosure evictions in 23 states last week have happened elsewhere and affect tens of thousands of foreclosures, say lawyers for homeowners.Ally Financial's GMAC Mortgage acted after manager Jeffrey Stephan gave a statement to opposing lawyers that he ...
GMAC Mortgage, a unit of Ally Financial, is moving forward with foreclosure proceedings using disputed affidavits, despite saying last week that it would halt evictions and sales of repossessed properties until it completed an internal review of its procedures.The controversy, which has prompted investigations into GMAC by the Attorneys General ...
GMAC move calls foreclosures into question
DETROIT, Sept. 25 (UPI) -- Regulators and real estate lawyers say paperwork problems at GMAC Mortgage have thrown the propriety of scores of U.S. home foreclosures into question.The nation's fourth-largest mortgage lender informed brokers and real estate agents last week that it was suspending foreclosures due to legal paperwork that ...
7 arraigned after foreclosure protest at Stony Ridge home
STONY RIDGE, Ohio - Seven people were arrested during the forced evacuation of a Stony Ridge house early Friday, including the homeowner who spent the week barricaded inside with several protesters in an attempt to resist eviction because of foreclosure.The defendants appeared via video conference Friday afternoon in Perrysburg Municipal ...
Stony Ridge standoff ended peacefully
STONY RIDGE — The quiet of dawn was jarred by battering rams breaking glass and slamming into homemade barricades. After five days of waiting out the owner of a foreclosed home in Stony Ridge the Wood County Sheriff’s Office waited no more. CLICK HERE FOR PHOTO GALLERY“Get your hands up. ...
Sadler taken from foreclosed home to Wood County Jail
WOOD COUNTY, OH (WTOL) - Keith Sadler and five others were taken from Sadler's foreclosed home in Stoney Ridge to Wood County Jail Friday morning.They'll be arraigned via video in Perrysburg Municipal Court sometime Friday.Authorities say there might be a seventh person involved.The six had barricaded themselves in the home with PVC ...
Stony Ridge man arrested after being carried from foreclosed home
STONY RIDGE, Ohio - Wood County sheriff's deputies arrested a Stony Ridge man Friday morning who has been holed up inside his foreclosed residence in an attempt to resist eviction.Authorities carried Keith Sadler from his U.S. 20 home without incident as many protesters watched from the front of the structure. ...
Ohio man facing foreclosure locks self in home
STONY RIDGE, Ohio — A northern Ohio man who is being evicted from his home locked himself inside and is vowing to stay until a moratorium is declared on foreclosures.The man along with five members of a group called the Toledo Foreclosure Defense League began their show of defiance Sunday.Keith ...
Obama readies steps to fight foreclosures, particularly for unemployed
The Obama administration plans to overhaul how it is tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed, senior officials said Thursday. Banks and other lenders would have to reduce the payments to no more than ...
Frustrated Owner Bulldozes Home Ahead Of Foreclosure
Like many people, Terry Hoskins has had troubles with his bank. But his solution to foreclosure might be unique.Hoskins said he's been in a struggle with RiverHills Bank over his Clermont County home for nearly a decade, a struggle that was coming to an end as the bank began foreclosure ...
Bank of America forecloses on house that couple had paid cash for
SPRING HILL — Charlie and Maria Cardoso are among the millions of Americans who have experienced the misery and embarrassment that come with home foreclosure. Just one problem: The Massachusetts couple paid for their future retirement home in Spring Hill with cash in 2005, five years before agents for Bank ...
Embattled Connecticut Sen. Chris Dodd (D) has scheduled a press conference at his home in Connecticut Wednesday at which he is expected to announce he will not seek re-election, according to sources familiar with his plans.Dodd's retirement comes after months of speculation about his political future, and amid faltering polling ...
Mortgage Modification: Bank Bailouts By Another Name?
The big talk in Washington these days is "helping homeowners." Unfortunately, what passes for help to homeowners in the capitol might look more like handing out money to banks anywhere else.The basic story is fairly simple. Tens of millions of US homeowners are now underwater: they owe more on their ...
Before President Bush left office, Representative Marcy Kaptur visited then-Treasury Secretary Henry Paulson Jr. and presented him with a list of all of the people in her district whose properties had been foreclosed. Although each page included four columns of names, the full list still stretched all the way down ...
Fannie Mae to rent out homes instead foreclosing
WASHINGTON — Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday. The government-controlled company, through its new "Deed for Lease" program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year ...
Why did blue-chip Goldman take a walk on subprime's wild side?
IRVINE, Calif. — Goldman Sachs was one of the last Wall Street giants to enter the subprime lending world, but when it did, it quickly climbed into bed with profligate, highflying firms — companies such as New Century Financial Corp. In at least nine deals from 2002 to 2007, Goldman ...
Goldman left foreign investors holding the subprime bag
NEW YORK — Inside the thick Goldman Sachs investment circular were the details of a secret, $2 billion deal channeled through a Caribbean tax haven. The Sept. 26, 2006, document offered sophisticated U.S. and European investors an opportunity to buy into a pool of supposedly high-grade bonds backed by residential, ...
Goldman takes on new role: taking away people's homes
SAN JOSE, Calif. — When California wildfires ruined their jewelry business, Tony Becker and his wife fell months behind on their mortgage payments and experienced firsthand the perils of subprime mortgages. The couple wound up in a desperate, six-year fight to keep their modest, 1,500-square-foot San Jose home, a struggle ...
How Goldman secretly bet on the U.S. housing crash
WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Goldman's ...
The fallout from WaMu's failure
The navy-blue and yellow Washington Mutual signs around town have been gone for months, replaced by Chase's lighter blue logo. But the fallout from the biggest banking collapse in U.S. history shows no sign of ending soon.Shareholder lawsuits: Two suits alleging securities fraud by WaMu management are pending in federal ...
Reckless strategies doomed WaMu
On Sept. 10, 2007, Washington Mutual CEO Kerry Killinger stood before an audience of analysts and money managers and assured them the Seattle-based thrift would come out of the housing slump stronger than ever.WaMu, Killinger told the Lehman Brothers conference, had tightened its lending standards, could access plenty of cash, ...
Bankers sue to save new law that protects them
PHOENIX — Arizona bankers have filed suit to block the state from repealing a new law designed to protect them from some investors who walk away from their mortgages.In legal papers filed at the state Supreme Court, the Arizona Bankers Association claims the repeal was illegal because it was done ...
Take America Back from the Banks
The elites hate to acknowledge it, but when large numbers of ordinary people are moved to action, it changes the narrow political world where the elites call the shots. Inside accounts reveal the extent to which Lyndon Johnson and Richard Nixon's conduct of the Vietnam war was constrained by the ...
REVIEW: Capitalism: A Love Story
Michael Moore’s new movie, Capitalism: A Love Story is a rare treasure. It will make you laugh, cry, and leave the theater feeling something. Movies nowadays rarely make you do one of those three. It’s Moore’s best movie, by far.In the weeks leading up to the movie’s release, Moore talked ...
Foreclosures Continued to Rise in 3rd Quarter as Banks Worked on Backlog
The number of homeowners pulled into the foreclosure crisis increased by 5 percent during the third quarter as a government program to help borrowers stay in their homes struggled to gain traction, according to RealtyTrac data released Thursday. RealtyTrac found that more than 925,000 borrowers received a foreclosure filing, which ...
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January 17th, 2012
STOP SOPA: Why MichaelMoore.com Will Be Blacked Out Wednesday, January 18th
My websites MichaelMoore.com and Mike's High School Newspaper will both be going dark for 24 hours starting at midnight tonight in protest of the Stop ...
December 30th, 2011
75 Years Ago Today, the First Occupy
On this day, December 30th, in 1936 -- 75 years ago today -- hundreds of workers at the General Motors factories in Flint, Michigan, took ...
December 28th, 2011
Click here to donate to the congressional campaign of Flint's own Dan Kildee I have many things I'm planning to do in the New Year ...
December 24th, 2011
A Little Christmas Gift for You to Download
Thanks for all the wonderful comments regarding the short story about my mom from HERE COMES TROUBLE that I sent you a few days ago. ...
December 20th, 2011
Here's a New Free Chapter from HERE COMES TROUBLE
Thank you to the tens of thousands of you who have read HERE COMES TROUBLE and helped to make it a New York Times bestseller ...
December 18th, 2011
LAST CALL: Signed First Editions Will Be Gone by Tomorrow! ORDER TODAY, RECEIVE BY XMAS
My publisher has informed me that they are down to their last crate of the first printing/first editions of HERE COMES TROUBLE -- the ones ...
December 17th, 2011
A Man in Tunisia, a Movement on Wall Street, and the Soldier Who Ignited the Fuse
It's Saturday night and I didn't want the day to end before I sent out this note to you. One year ago today (December 17th), ...
September 11th, 2010
If the 'Mosque' Isn't Built, This Is No Longer America
OpenMike 9/11/10 Michael Moore's daily blog I am opposed to the building of the "mosque" two blocks from Ground Zero. I want it built on ...
December 14th, 2010
Why I'm Posting Bail Money for Julian Assange
Yesterday, in the Westminster Magistrates Court in London, the lawyers for WikiLeaks co-founder Julian Assange presented to the judge a document from me stating that ...
May 12th, 2011
Some Final Thoughts on the Death of Osama bin Laden
"The Nazis killed tens of MILLIONS. They got a trial. Why? Because we're not like them. We're Americans. We roll different." – Michael Moore in ...
November 22nd, 2011
Where Does Occupy Wall Street Go From Here?
This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and ...
September 22nd, 2011
A STATEMENT FROM MICHAEL MOORE ON THE EXECUTION OF TROY DAVIS
I encourage everyone I know to never travel to Georgia, never buy anything made in Georgia, to never do business in Georgia. I will ask ...
December 16th, 2010
Dear Swedish Government: Hi there -- or as you all say, Hallå! You know, all of us here in the U.S. love your country. Your ...
November 2nd, 2010
This letter contains (almost) no criticisms of how the Democrats have brought this day of reckoning upon themselves. That -- and where to go from ...
Home Front: Portraits from Sheikh Jarrah
Mike, was the triple overtime Outback Bowl come-from-behind win the greatest Spartans game ever?
Yes -- or at least it will be until their appearance in next year's Rose Bowl, a game which... Continue Reading
Michael Moore on Conan, 12/7/11
Michael Moore on The Last Word with Lawrence O'Donnell, 11/21/11
Michael Moore on Countdown with Keith Olbermann, 11/15/11
Michael Moore on The Last Word with Lawrence O'Donnell, 11/9/11
