cleveland-bankruptcy-court

Judge Pat E. Morganstern-Clarren of the U.S. Bankruptcy Court for the Northern District of Ohio, fed up with the shenanigans of law firm Brice, Vander Linden & Wernick, P.C., ordered the firm to review over 1,200 claims filed in pending bankruptcy cases. The edict arose from the judge’s concern that Brice Vander Linden had [...]

The foreclosure process in New York is a long one, requiring a case to wind through the court system before reaching conclusion. The case can take anywhere from 8 months to nearly a full year, depending upon the individual court. Some courts are quicker, some are slower.
It is important to remember, however, that [...]

According to the New York Times, the Federal Bureau of Investigation and the criminal division of the Internal Revenue Service have formed a task force to examine mortgages that were made with little or no proof of the earnings or assets of borrowers. Federal prosecutors in New York, Los Angeles, Philadelphia, Dallas and Atlanta [...]

More than 800 people facing foreclosure in southern Florida last week sought out The Foreclosure Prevention Clinic in an attempt to get answers.
Lenders, as well as local housing agencies and representatives from the U.S. Department of Housing and Urban Development (HUD), Fannie Mae and Freddie Mac, were on hand April 12 to offer direct help [...]

Nationwide, one of every 538 households got foreclosure notices last month, according to data supplied by RealtyTrac. The number of foreclosure notices nationwide rose 57% to 234,685 from March 2007, while repossessions soared 129%, to 51,393. New York City, however, saw 1,555 default notices and 358 foreclosure auctions scheduled. Those numbers represent [...]

The FHA federal mortgage insurance program is being expanded to protect banks from losses on loans that exceed home values in exchange for helping homeowners nearing foreclosure to refinance. The stated goal is, “one hand washes the other,” but what does it really mean for you?
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Ohio Treasurer Richard Cordray today joined Governor Ted Strickland and Department of Commerce Director Kimberly Zurz in announcing that nine mortgage loan servicers agreed to sign a “Compact to Help Ohioans Preserve Homeownership.” This begs the question, however, of whether this is nothing more than sound and fury, signifying nothing.
If you liked that post, [...]

Bloomberg is reporting that mortgage lenders are so swamped with foreclosures that they are stalling their own foreclosure cases.
The Mortgage Bankers Association notes that the number of borrowers at least 90 days late on their home loans rose to 3.6 percent at the end of December, the highest in at least five years. Lenders, [...]

Courtesy of Freddie Mac:

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CNNMoney.com is reporting that month after the Bush Administration announced a plan to help troubled homeowners, Consumer Credit Counseling Service of Greater Atlanta has plans to hire about 130 new staff members to cope with the increased demand for services.
Last month, the Bush Administration unveiled a foreclosure relief plan that included a five-year freeze of [...]