Many mortgage companies that make big profits on late fees are reluctant to give strapped homeowners a break.
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Bank of America has blocked a homeowner’s attempts to sell a house on the brink of foreclosure. In the meantime, it racks up fees.
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At meetings with mortgage company executives, the administration emphasized the urgency of helping borrowers.
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This month, the Federal Housing Finance Agency unveiled a new program to help borrowers who are “underwater” as long as the borrower hasn’t missed loan payments in the past year.
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Some of the very people who made a killing in subprime mortgages are now offering loan modifications for desperate homeowners.
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New research suggests that more experienced mortgage brokers might actually be more likely than novices to make loans that end up in foreclosure.
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President Obama may not want to focus on rising unemployment and foreclosures until health reform passes, but he should still lay the groundwork.
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Both New Jersey and Connecticut have instituted programs that encourage borrowers to challenge foreclosures.
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The federal government is taking the largest mortgage servicers to the woodshed on their efforts to modify shaky loans.
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Beazer Homes USA, a home builder, settled its legal crimes, but its top officials remain with the company.
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