Feds Look to Stop Foreclosure Prevention Scams

The Obama administration has already unveiled its plan to reduce the rising home foreclosure rate, but with loan modification scams on the rise, the administration today announced a multi-agency effort to crack down on predatory home foreclosure scams that prey on distressed homeowners. “Just as this administration has intensified our efforts to help American homeowners, [...]

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Buying Bad Mortgage Assets

Anthony Mason reports, that some investors are buying the toxic mortgage loans that many banking institutes are actively looking to unload. Millions of Americans have been searching for bad credit bank loans in an effort to protect them from foreclosure.

Because the investors are buying the mortgage for 40% of the current market value, they are able to [...]

Key Democrats Prevented Mortgage Reform

Clearly the ignoring of mortgage reform in 2001 and the stalemate of 2004 on the mortgage revisions on predatory lending could have helped stem the current housing crisis that has grown into a foreclosure epidemic.

Karl Rove “Chris Dodd & Barney Frank Prevented Mortgage Reform.” They are protecting Dodd and Frank, as they blame Bush. Maxine [...]

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More Subprime Mortgage Loans Likely to Be Downgraded by Moody

In a recent article, Bloomberg reported that Moody’s Investors Service said it’s reviewing all 2005, 2006 and 2007 bonds on subprime mortgages for credit-rating downgrades, covering debt with $680 billion in original balances. The review reflects an increase in Moody’s expected losses on the underlying loan pools, the New York-based company said in a statement [...]

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