by Brian Mahany “Can I sue for denial of a HAMP loan modification” is a question we frequently hear. Some lenders (Bank of America, Citi, Wells Fargo) seem to run borrowers through the ringer only to ultimately deny them a mortgage modification. That’s a shame since Congress authorized the Home Affordable Modification Program as part […]
New Wave of Foreclosures Coming
by Brian Mahany The headline from CNBC that a new round of foreclosures is coming comes without surprise. Thankfully, fewer borrowers are falling behind but there are still millions of Americans who are hopelessly behind on their loans. We say “hopelessly” because the lending community has miserably failed to assist homeowners who may have needed […]
Ally Latest Lender To Admit Foreclosure "Problems"
by Brian Mahany Ask any court clerk and you will hear dozens of tales of missing documents, forgeries and even lenders foreclosing on homes when the borrower never missed a payment. The banks, however, are a bit more reluctant to come clean. Recently Ally FInancial and its servicing unit, GMAC Mortgage, identified thousands of problem […]
Is Wells Fargo Guilty of Murder?
by Brian Mahany The title of this post is admittedly provocative and designed to really get people thinking. The story you are about to read comes from several mortgage blogs and from news reports published by the Huffington Post. Their headline read “Norman Rousseau, Foreclosure Victim, Commits Suicide During Wells Fargo Lawsuit”. What you are […]
Show Down In Florida – Homeowners vs Bank Of New York
by Brian Mahany Forged mortgage documents are nothing new. Even making that statement pains me greatly. Once upon a time, no one would dream of a bank, mortgage lender or lawyer routinely forging documents. Today, its common place. A case pending before the Florida Supreme Court is set to determine if a bank that gets […]
TD Bank Accused Of Fraud (Again)
by Brian Mahany Big banks have not been getting good press these days and this post is no exception. Earlier this year, TD Bank suffered a startling setback when it was found to have “aided and abetted” fraud. A civil jury then sanctioned the bank with a $67 million dollar judgment. Do you think they […]
$25 Billion Mortgage Foreclosure Settlement May Backfire
by Brian Mahany When the five largest lenders signed a deal with the states and agreed to “pay” $25 billion to help homeowners keep their houses, there was singing in the streets. The states’ attorney generals hailed the agreement as a stunning victory for homeowners. Banks seized the opportunity to try and buy back some […]
Appeals Court Tosses Foreclosure (Wisconsin Foreclosure Defense)
[With updates] In a case decided March 23rd of this year, the Wisconsin Court of Appeals reversed a judgment of foreclosure issued by a Rock County Circuit Court Judge. Aurora Loan Services obtained a judgment of foreclosure against David and Nancy Carlsen. The dispute in this case wasn’t the money owed, it was whether Aurora […]