Opportunists squatting in foreclosures are getting paid

Irony strikes again as opportunists are taking advantage of other opportunists. Squatters are taking possession of foreclosed homes. Invoking their rights as ‘tenants’ nobody is willing to come forth to dispute the fact, and banks (the other opportunists) as actually paying squatters to leave. The situation seems ironic to me. California has seen the problem …

Foreclosures say banks helped too few too late

U.S. foreclosure filings climbed 65 percent and bank seizures more than doubled in April from a year earlier as rates on adjustable mortgages increased and vacated homes added to a glut of unsold homes. Amid the mess mortgage lenders are telling us how many borrowers were helped by their loving, consumer oriented customer care staff. …

High-Rate High-Fee Loans HOEPA Section 32 Mortgage Abuse

Just when we thought subprime could not get uglier, one of the world’s largest banks has found a way to usurp U.S. government regulations. High-Rate, High-Fee Loans HOEPA/Section 32 Mortgages and how to get around the regulation seems to be the newest and latest marketing ploy. “As a current employee I am appauled to see …

Bush threatens to veto help for homeowners

Government sometimes works quickly to create laws or legislation that sometimesw results in overkill. Lack of forward-looking thinking should include an analysis of how scam artists will beat the system. Apply that logic to our new proposed anti-foreclosure bill. The newest and latest argument is over $15 billion in grants and loans to buy and …