This week the Occupy Atlanta protesters found a way to protest economic injustice that may build allies within the local law enforcement community.
With mounting evidence of robo-signing and other alleged fraud perpetrated by banks, foreclosure law firms and others, Fannie Mae and Flagstar Bank have filed a new defense of such actions in Ingham County Circuit Court — and Ingham County Register of Deeds Curtis Hertel, Jr. is crying foul.
Despite assurances from government officials that the recession is gradually loosening its grip on the U.S., statistics released today by Zillow, Inc. paint a very different picture. Zillow is a real estate marketing site founded by former Microsoft executives that maintains a database of real estate information from around More…
Today, the Obama administration lays out the case against a nationwide foreclosure moratorium. In the Huffington Post, Shaun Donovan, the Secretary of Housing and Urban Development, argues that the government is investigating the foreclosure fraud crisis and that a moratorium would prove counterproductive in terms of helping homeowners in More…
Reuters notes that Wall Street types are complaining that coverage of the current foreclosure crisis — in which banks might have taken houses away from homeowners without the proper documentation — elides the fact that the defaulters are in fact in default.
“If you didn’t pay your mortgage, you
Today, RealtyTrac reported foreclosure and home-sale information for September and the third quarter of the year, showing an extraordinarily weak housing market. Here are just a few data points:
Yesterday, Wall Street giant J.P. Morgan Chase announced a $4.4 billion profit in the third quarter. Wall Street analysts should have cheered. Instead, they golf-clapped, while the bank’s chief executive officer, Jamie Dimon, went on the defensive on an earnings call.
[Economy1] The reason: foreclosures, again threatening everything from More…
Today, J.P. Morgan Chase revealed that it made a third-quarter profit of $4.4 billion, despite dwindling revenues. The bank set aside far less money — $6.6 billion, or 67 percent, less than it did at the same time last year — to cover losses on things like mortgages and More…
Here is David Axelrod (PDF), speaking with CBS’s Bob Shieffer this weekend:
BOB SHIEFFER: Just when we thought it couldn’t get any worse now we find that this sloppy paperwork by the lenders may have made some of these foreclosures now that are being contemplated invalid. Some of the
James Jones has spent the past five years trying to prevent foreclosures in Cleveland. Recently, his work as director of foreclosure prevention at the East Side Organizing Project, a community organizing group dedicated to improving neighborhood life in the city, has focused on targeting predatory lenders and trying to prevent More…
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