Bank of America Former Employees Speak Out

Although we had assumed this was this case, we had hoped it was not true. This week our fears were confirmed. Six former employees of Bank of America spoke out about the financial incentives they had received for delaying and denying modifications for homeowners. “We were told to lie to customers,” said Simone Gordon, who […]

Lending Institutions Getting More Rigid with Loan Qualifications

As regulators crack down on shady lending practices, banks and lending institutions are getting more and more rigid with loan qualifications. In fact, a recent New York Times article detailed one retiree’s struggle to obtain a mortgage even with excellent credit history and healthy retirement and brokerage accounts. In addition to demands for the usual […]

The State of Homeownership

The state of homeownership in this country is an interesting one right now. With home prices rising at a rate that hasn’t been seen since the boom several years ago, demand is strong while supply is lacking. The market would appear to be healthy, rebounding well, however, there’s a hitch; for a prospective buyer, rising […]

Attorney Kamala Harris

Last week, Attorney General Kamala Harris, who has fought for California homeowners and against big banks, was named one of the 100 most influential people in the world by TIME Magazine. Harris is 48 years old and is the first female, the first African American, and the first South Asian to ever be elected as […]

Home Affordable Refinance Program Extended

The government’s Home Affordable Refinance Program (HARP) was scheduled to expire at the end of April – until last week. The Obama administration’s program to help underwater borrowers, who are current with their mortgage payments, refinance at lower rates was extended an additional two years last week.  Regulators announced last Thursday, April 11th, that HARP […]

News from The Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau (CFPB), a government agency, recently released the nation’s largest public database of federal consumer financial complaints. This database includes details about more than 90,000 individual complaints on five types of products and services: consumer loans, bank accounts or bank services, mortgages, credit cards and student loans. The majority of complaints, […]

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