Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on TwitterBe a Facebook FanTumble us!

04 Jun 2011 17:14


Offbeat, U.S.: Homeowner revenge: Bank of America branch gets foreclosed

  • They’ve ignored our calls, ignored our letters, legally this is the next step to get my clients compensated.
  • Attorney Todd Allen • Describing the process he went through to get his clients their money back. That’s right, he foreclosed on the bank, forcing the bank to pay back attorney’s fees by padlocking the doors. Maurenn Nyergers and her husband, Florida residents who paid for their home in cash, received a false foreclosure request from Bank of America, forcing them to fight the charges in court. The homeowners won their case, but Bank of America didn’t pay the fees after five months, so (with a little help from the Sheriff’s Department), on went the padlocks and out went the computers, furniture and money from the tellers’ drawers. An hour later, the bank manager resolved it like that. Gotta love it. source

15 Jul 2010 11:10


Biz: Foreclosure filing numbers a major fail, but have a silver lining

  • 1.28% of homes were subject to foreclosure findings in the first half of 2010
  • 8% increase in foreclosure filings in the first half of 2010 from a year ago
  • 5% decrease in foreclosure filings from the last half of 2009 source

14 Apr 2010 09:51


Biz: Even for those on Obama’s foreclosure plan, it’s not really helping

  • 75% of people in Obama’s foreclosure-prevention plan owe more than their homes are worth
  • 50% of people owe more than
    25 percent in negative equity on
    their homes; crazy source

19 Oct 2009 09:46


U.S.: Here’s a sobering statistic on the homeless in this recession

  • 10% of those helped in the last year lost homes to foreclosure source

16 Sep 2009 10:54


Biz: The FBI says a whole lot of mortgage fraud is going on

  • 2,600 cases are pending at the moment source

05 Jun 2009 02:15


Biz: Why former Countrywide CEO Angelo Mozilo is a bad, bad man

  • $387 million Amount Angelo Mozilo made as Countrywide CEO between 2002 and 2006. He co-founded the company in 1969 and was seen as a rags-to-riches story.
  • $139 million Amount Mozilo made in profits as the mortgage giant started crumbling under the weight of its own bad deals. Charges were brought against Mozillo yesterday. source

27 May 2009 11:08


Biz: Foreclosures make it easier for people to buy homes, just an FYI

  • 2.9% increase in existing home sales in April; sounds good
  • 45% of existing homes sold were from foreclosurse and short sales source

13 May 2009 09:09


Biz, U.S.: Nothing like watching foreclosures accelerate in speed

  • April was a shocker. I would have bet on a dip because March foreclosures were so high.
  • RealtyTrack spokesman Rick Sharga • On April’s cruddy foreclosure numbers, which saw a record 342,000 homes receiving default notices. On the plus side, though, repossessions fell 11%. Still though, that’s like saying torture’s way up but beheadings are down. • source

02 May 2009 12:35


Biz, U.S.: Renters in foreclosed homes get screwed, too

  • 30% of homes foreclosed this year are being rented out source

06 Apr 2009 12:17


Biz: The foreclosure industry: Your misery is our good luck

  • Things are going tremendously. It has never been this good.
  • Darren Johnson • A “real estate owned” foreclosure agent from Detroit, talking about how well the foreclosure industry is going at the moment. Glad to know that someone’s doing OK. • source