It was not the banks that created the mortgage crisis. the notorious negative amortization loans (borrower's indebtedness goes up each month).. It's not as though Congress woke up one morning and thought to itself, “Let's.
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Phillippa Dunne (The Liscio Report) sent me this note a few moments ago: "The mba delinquency numbers just came out. In Q2, foreclosures were started on 1.19% of outstanding mortgages, up from 0.99% in Q1, and nearly three times the pre-2000 record. The total stock in foreclosure was 2.75% of all mortgages, more than twice the pre-2000 record.
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their good ideas but provided feedback on early drafts. Also crucial to the. MORTGAGE FRAUD AND THE FORECLOSURE CRISIS. A FULL RESPONSE TO. borrower to send payments to a new loan servicer. In reality, the. mortgage company] called me, and their bottom line was, 'How much is the fine?'. That's the.
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· So representatives (paralegals and such) were sent to meet with the individual homeowners and asked to sign off’ on the foreclosure and were promised that they could keep their couches. Along the way homeowners were also lied to with regard to their property rights by the lowliest of the low representatives.
The event was organized by members of Occupy Petaluma and part of the national "Occupy Our Homes" campaign meant to bring attention to the foreclosure crisis. Booth. This should have been easy for.
In case you haven't heard, we went through one of the worst housing busts in. Why lenders ever thought that was a good idea is beyond me, but it happened.
The story of how one woman went from a three-bedroom home to a tent is the story of how America ended up in a foreclosure crisis that still drags down the economy. by Paul Kiel April 10, 2012, 4 a.