Countrywide caught with bankruptcy embarassments and lost checks

It pays to have an attentive lawyer when dealing with Countrywide. In breaking news of January 8 Countrywide admitted to fabricating documents related to the bankruptcy case of a Pennsylvania homeowner. Imagine how many similar cases are never identified. In the Countrywide case it is important to note that when the company invented the “letters” …

Epidemic of loan restructure and fake refinance scams for mortgage holders

In the list of top 10 scams for 2007, Foreclosure rescue scams came in at number 7. As if people who fell behind on mortgage payments didn’t have enough troubles, an increasing number became victims of foreclosure rescue frauds. In the list of top 10 scams for 2007, Foreclosure rescue scams came in at #7. …

Did Countrywide foreclosures abuse the bankruptcy system?

The federal agency monitoring the bankruptcy courts has subpoenaed Countrywide Financial, the nation¬ís largest mortgage lender and loan servicer, to determine whether the company¬ís conduct in two foreclosures in southern Florida represented abuses of the bankruptcy system. The subpoenas for Countrywide documents were issued in late October by the United States Trustee after the agency …

What did the U.S. Government offer lenders to overlook them?

An article by Diane Francis appeared in the Financial Post on Saturday, November 17, 2007. Titled “Subprime mess is a crime story” the article outlined key issues. Diane said “At the top were mortgage lenders, then Wall Street and others who exported junk debts to lenders around the world after prettying them up. At the …