Foreclosure While Current on Loan Modification Payments

After falling behind on mortgage payments, an Altadena family was relieved to have their lender, Ocwen Financial Corporation, agree to a loan modification allowing them to keep their home, or so they thought. The family had worked hard to submit all necessary documents and information to their lender and were eager to accept the loan […]

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 […]

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, […]

Current Events: Bank of America & Home Loans

The government continues to crack down on mortgage schemes today with news breaking that federal prosecutors have sued Bank of America, accusing the massive lender of carrying out a fraudulent home loan program. During the financial crisis, prosecutors say that BOA deceived the government by selling poor loans, without revealing the quality of the loans, […]

New Laws in CA: Homeowner State Laws 2013

California may have some of the best homeowner state law protection in the country after last week’s introduction of the new legislation the Homeowners Bill of Rights. It was a win for struggling homeowners who praised the new laws in CA attention to lender misconduct over the past few years. The homeowner state laws 2013 […]