Here Comes Trouble: Stories from My Life

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Articles tagged with: “Mortgage War”

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September 26th, 2010

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 ... continue reading

September 26th, 2010

GMAC moves on foreclosures

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 ... continue reading

September 26th, 2010

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 ... continue reading

May 7th, 2010

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 ... continue reading

May 7th, 2010

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. ... continue reading

May 7th, 2010

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 ... continue reading

May 7th, 2010

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. ... continue reading

May 4th, 2010

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 ... continue reading

March 26th, 2010

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 ... continue reading

February 20th, 2010

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 ... continue reading

February 12th, 2010

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 ... continue reading

January 6th, 2010

Chris Dodd to step aside

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 ... continue reading

Dean Baker

Co-Director, CEPR

December 1st, 2009

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 ... continue reading

November 25th, 2009

Kaptur Takes on Foreclosures

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 ... continue reading

November 6th, 2009

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 ... continue reading

November 4th, 2009

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 ... continue reading

November 4th, 2009

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, ... continue reading

November 2nd, 2009

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 ... continue reading

November 1st, 2009

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 ... continue reading

October 26th, 2009

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 ... continue reading

October 26th, 2009

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, ... continue reading

October 23rd, 2009

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 ... continue reading

Dean Baker

Co-Director, CEPR

October 19th, 2009

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 ... continue reading

October 18th, 2009

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 ... continue reading

October 16th, 2009

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 ... continue reading

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If you have a moment today, I hope you can read the obituary for my father Francis (Frank) Moore, who died this past Saturday at the age of 92: Francis...

Apr 22nd
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My father, Francis (Frank) Moore, passed away this morning a few months shy if his 93rd birthday. He was a great dad I am blessed to have had him in my life. I...

Apr 20th
2:58 AM
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Time to put the cuffs on Chris Christie -- not for the bridge scandal, but for this: Chris Christie's $300m pension proposal broke state anti-corruption...

Apr 18th
7:31 PM
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George W. Bush Debuts New Paintings Of Dogs, Friends, Ghost Of Iraqi Child That Follows Him... President Bush has a new hobby -- painting! --...

Apr 17th
7:28 PM
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Big new story from David Sirota and Pando on top Christie adviser and appearance of corruption at New Jersey's pension fund: REVEALED: Gov....

Apr 17th
12:41 PM
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FBI Uncovers Al-Qaeda Plot To Just Sit Back And Enjoy Collapse Of United States WASHINGTON—The FBI announced today that it has uncovered a...

Apr 15th
3:28 PM
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Revealed: Rahm Emanuel's top donor bought stock in Marriott just before it was awarded huge contract As schools are closed and pensions cut,...

Apr 9th
2:00 PM
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I'll be at First Time Fest today in New York City at the screening of my first film, Roger & Me. Loews Village 7 at 12:30 pm. Come see it on the big...

Apr 5th
9:48 AM
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Revealed: Rahm Emanuel cuts public pensions, diverts money to benefit campaign donors If you've read the financial news out of Chicago the last...

Apr 4th
2:19 PM
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Please take a moment today to think of Casey Austin Sheehan, son of Cindy and Patrick, who was murdered by U.S. foreign policy in Sadr City, Baghdad ten years...

Apr 4th
2:00 PM
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ICYMI - I've joined this "thunderclap" to support the Connecticut legislators who voted yes on last year's Act Concerning Gun Violence...

Apr 3rd
7:38 PM
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I've joined this "thunderclap" to support the Connecticut legislators who voted yes on last year's Act Concerning Gun Violence Prevention...

Apr 2nd
8:27 PM
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I am opposed to the death penalty, but to every rule there is usually an exception, and in this case I hope the criminals at General Motors will be arrested...

Apr 1st
3:55 PM
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How Long Some in the US Will Survive Under New Health Law Donna Smith Those who must access care to live and can afford it are not...

Mar 31st
10:13 PM
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Last night, The Good Wife on the East Coast started 40 minutes late due to the overrun of the NCAA basketball game. If you had your DVR set for the show, you...

Mar 24th
5:41 PM
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Watching films today, looking for the ones I'm going to pick for my film festival this summer. I (and a whole bunch of others!) have this thing we put on...

Mar 23rd
4:48 PM
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When the U.S. Health Care System Keeps Killing, Who Cares Enough to Fight? Donna Smith We have largely forgotten that people are at...

Mar 21st
5:56 PM
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Tell the White House not to give up on Dr. Vivek Murthy's nomination as Surgeon General despite the ferocious opposition from the NRA: Don't give...

Mar 21st
5:38 PM
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This criminal would never see a jail cell, nor would his cronies. In fact, they'd later be rewarded with re-election: Presidential Address on War with...

Mar 19th
9:40 PM
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The crime of the century -- our invasion & slaughter in Iraq -- started 11 years ago tonite in this 7pm (ET) hour, March 19th, 2003: CNN Coverage of...

Mar 19th
9:08 PM
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Washington’s Back-to-the-Future Military Policies in Africa Nick Turse Nick Turse is an award-winning journalist, historian,...

Mar 17th
4:59 PM
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"I think democracy is the most revolutionary thing in the world." -- Tony Benn, 1925-2014 Tony Benn in 'Sicko'

Mar 14th
10:07 AM
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RIP Tony Benn, one of the UK's greatest leaders: Tony Benn, veteran Labour politician, dies aged 88 Former cabinet minister died at...

Mar 14th
9:53 AM
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Please read this important story from K. Ford K.: Am I the Face of the New American Middle Class? I began to feel I had slipped so low...

Mar 13th
2:24 PM
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Yesterday Dianne Feinstein revealed that the CIA has been spying on the Senate Intelligence Committee. This is all about the report the committee has produced...

Mar 12th
6:48 PM
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Health Care for All Colorado has brought Mercy Killers, a show written and performed by Michael Milligan about our murderous for-profit healthcare system, to...

Mar 10th
1:08 PM
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Health Care Dramas that Sting and Why We Have to Watch Donna Smith The realities Milligan has written into the show cut deep into...

Mar 10th
1:02 PM
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Did you know the Lehrer Newshour on PBS has been produced for 20 years by a company owned by conservative cable billionaire John Malone? Me neither. After...

Mar 7th
8:39 PM
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Mr. Obama, if int’l law is so damn crucial . . . | The Russian intervention deserves criticism. But let’s be clear. The...

Mar 6th
1:21 PM
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