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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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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