(Reuters) – Four years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges around the country are pointing fingers at possible wrongdoing.
via Reuters.
Jul 17
Picture this nightmare financial scenario: You’ve taken out a $150,000 home-equity credit line to remodel your house, you’ve already pulled out thousands of dollars to pay contractors and owe thousands more, when suddenly you get a curt letter from the bank.
via latimes.com.
Jul 15
JP Morgan Chase is currently “investigating” how a homeowner was declared dead by their bank. Florida homeowner Wrenella Pierre has filed a lawsuit against Chase Bank, alleging that her credit has been destroyed her credit after the bank declared her deceased.
via agentgenius .
Jul 12
Last fall, New Jersey-based Loan Value Group launched a new business model, offering lenders and mortgage investors a way to keep their current, but underwater, borrowers current through cash incentives.
via bubbleinfo.com.
Jul 12
Where is the boom that inevitably follows a deep bust, such as we experienced in 2008 and 2009?
But there is no mystery. What other result would you expect from the financial ruin of the once-great American middle class?
Jul 12
The bailout, by the numbers, clearly did work. Not only did it forestall a worldwide financial meltdown, but a Fortune analysis shows that U.S. taxpayers are also coming out ahead on it — by at least $40 billion, and possibly by as much as $100 billion eventually. This is our count for the entire bailout, not just the 3 percent represented by the massively unpopular Troubled Assets Relief Program. Yes, that’s right — TARP is only 3 percent of the bailout, even though it gets 97 percent of the attention.
Jul 11
JP Morgan Chase has settled a class action suit for violating the nearly 70 year old Servicemembers’ Civil Relief ActSCRA which states that even when legal and in states that don’t require it, only a judge can authorize a foreclosure and only after a hearing where military members are represented
via agentgenius.
[Also applies to evictions]
Jul 08
“I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.”
via The Big Picture.
