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Category: mortgage news

You May be Able to Wipe out Virtually Any Mortgage!

That sounds too good to be true! Guess who made this possible… The Supreme Court of the United States (SCOTUS)!  There is a shockwave moving through the mortgage industry caused by a unanimous SCOTUS ruling in January. The court settled once and for all the exactly what a borrower’s Right of Rescission is, and what [...]

Who Actually Has the Right to Foreclose on Your House?

Picture this: a man purchases a house in 2007 with a loan from a major mortgage lender who then securitizes the loan.  After 7 years of making payments, the homeowner loses his job and defaults on the loan.  The lender sends a foreclosure notice to the homeowner, claiming the ability to foreclose on the loan.  [...]

Finally! Federal Court Blasts Wells Fargo for Using Forged Documents to Foreclose

It took a long time, but New York’s federal courts have finally ruled that forged documents don’t cut it when the banks are trying to foreclose on a homeowner! In a blistering, 30-page ruling, a federal bankruptcy judge from New York’s Southern District has slammed Wells Fargo for falsifying documents in order to foreclose on [...]

Even the Banks Can’t Believe What the Banks Are Doing

The banks are turning on each other! Over the past few years, Americans have become aware of the financial fraud that was committed against the country by the major banks. The more the public hears about the Federal Reserve spending $60-70 billion dollars every month to buy garbage loans back from the banks that created [...]

Federal Court Clears Way for Homeowners to Fight Back Against the Banksters

Another day, another court ruling against the banksters who have fraudulently foreclosed on millions of homes! I have been writing about how the courts have been wising up to the games the banks have been playing to foreclose on properties that they have no claim to, and the latest ruling is one of the biggest. [...]

The Next Foreclosure Crisis Is On its Way – Is Your Investing Business Ready?

It was almost eight years ago that the foreclosure crisis began. More than 5 million homes were lost to foreclosure during those eight years, many of them belonging to real estate investors who are no longer in business. But thing are looking up, right? According to CoreLogic the national foreclosure rate is at 1.7%, down [...]

Court Rules Chase Made Up Documents to Foreclose – What Does It Mean For Investors?

In July, fans of common sense and decency everywhere won a huge victory – in California of all places! The California Appellate Court ruled that Chase created and recorded false documentation in order to prove ownership of a property so they could foreclose on it. This is big news because it shows that the major [...]

The Biggest Theft in the History of the WORLD and Our Government Bails Out the Perpetrators!

Did you hear the news?  Citigroup may have to pay a $7 billion settlement to resolve mortgage probes.  Why?  To get the government to stop looking into whether it defrauded investors on billions of dollars worth of mortgage securities.  Most of the payment will be in cash, but it will also include a few billion [...]

What the Mortgage Forgiveness Debt Relief Act Expiring Means for Investors

OMG!  The Mortgage Forgiveness Debt Relief Act has expired!  Homeowners owe the IRS more than they could ever pay.  This is a catastrophe – not really. On December 31, 2013, the Mortgage Forgiveness Debt Relief Act expired. For months prior to the expiration and immediately after, there was a rush of “experts” howling and screaming [...]

Government Politely Asks the Banks to Please Double Check Their Foreclosures

Were you or someone you know foreclosed on by a lender who is widely known to committed massive and systemic fraud in their mortgage practices? Have no fear. After having been bilked by independent consultants to the tune of $2 billion dollars, the Office of the Comptroller of the Currency has given up investigating the [...]