More homes seized in February
It appears President Barack Obama’s foreclosure prevention plan came too late for some. Foreclosures in February this year were 30 percent higher than last year. A total of 290,631 homes received a default or auction notice, and that includes 161,976 households that were notified for the first time, [...]
Mortgage company needs more funds
Freddie Mac, a company that has already received billions of dollars of government funding, is asking for another $30.8 billion from the U.S. Treasury.
Right now taxpayers own 79 percent of the company, after the government moved the company into conservatorship in September.
Troubled times
Freddie Mac says it [...]
Fast cash advance for endangered families
President Obama’s plan to revamp the mortgage industry and save families – including the octuplet mom and her kids – from foreclosure is now in full gear, like a fast cash advance for the afflicted. As part of the package, mortgage lenders like Citigroup and [...]
Bad credit plus personal loans equals crisis
A mixture of bad credit and personal loans has caused millions of Americans to face foreclosure on their homes. Now President Barack Obama has revealed his plan to help up to 9 million Americans keep their homes.
Obama will use money from the $700 billion [...]
A Reno lawyer is seeking class-action status for several U.S. District Court lawsuits alleging predatory practices by major lenders that have left his clients facing foreclosures and threatened sales of their homes.
Quoted With Edits From: Lawsuits allege predatory lending practices (AP via Yahoo! Finance)
Predatory lending practices have really gained a [...]