Tag Archives: Freddie Mac

Posted 5 years ago in Uncategorized by Sylvia Hsieh  
Next Wave of Foreclosures Underway

Contrary to some recent rosy predictions of a recovering housing market, thousands of homeowners are still underwater on their mortgages and lawyers who represent homeowners say the next wave of foreclosures is looming. Companies that track foreclosures have already seen a rise since the beginning of the year. Lawyers working in the trenches with distressed homeowners see no let up. “We’re constantly deluged by calls,” said Patrick Dunlevy, a Los Angeles attorney with the country’s largest pro bono law firm …

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Posted 5 years ago in by Jennifer King  
What the Recent Mortgage Settlement Means for Homeowners

Last week a federal judge signed off on a $26 billion settlement agreement negotiated between five major banks and attorneys general in 49 states and the District of Columbia. The banks were originally charged with having unlawful and unfair foreclosure practices. Among the allegations: Lenders employed “robo-signers” who signed off on foreclosure affidavits attesting they’d personally reviewed foreclosure documents without actually doing so Because of robo-signers and other shoddy practices, banks improperly foreclosed on homes   Does the Mortgage Settlement …

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Posted 5 years ago in by Keith Ecker  
Does the Robo-Signing Settlement Go Far Enough?

Several of the largest financial institutions in the country may agree to a settlement that could provide compensation to as many as a million homeowners for improper foreclosure proceedings. The announcement of the potential deal was made earlier this month by U.S. Housing and Urban Development Secretary Shaun Donovan. Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co., Citigroup and Ally Financial Inc. have been in talks with federal officials and state attorneys general to distribute as …

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