Posts tagged "loan modification"

Madigan Joins National Mortgage Fraud Unit

Madigan Joins National Mortgage Fraud Unit
Illinois Attorney General Lisa Madigan on Jan. 27 formally joined a national team tasked with holding lenders more accountable for acts that led to the country’s housing crisis. The group, President Obama’s Financial Fraud Enforcement Task Force, will closely investigate questionable lender acts. She joins U.S. Attorney General Eric Holder, Housing and Urban Development Secretary... Read more »

Foreclosure Audit Highlights Potential Bank Deception

The Huffington Post yesterday revealed information from a federal audit of five major banks. The data revealed to HuffPo sources shed more light on the problems related to America’s foreclosure logjam. Bank of America, JP Morgan Chase, Citigroup, Ally Financial and Wells Fargo engaged in misleading and potentially fraudulent behavior in its foreclosure proceedings, according... Read more »

Loan Modifications in the News

Today’s Chicago Tribune sheds some light on the much-criticized loan modification industry in Chicago and nationwide. It’s a piercing look at the predatory nature of the business, particularly the legal community’s involvement.  For those who haven’t read the piece, it discusses the role of attorneys in the loan modification process, and how often times it... Read more »

Be Cautious With Loan Modifications/Debt Consolidation

For many families in Chicago, their financial well-being depends on the value of their home. After all, your home is likely your biggest investment. So the demise of property values has hurt millions in Chicago and beyond. Perhaps the most troubling aspect of this has been the development of secondary markets that often times prey... Read more »

Stay in Your Home: The Keys to Mortgage Modification

Despite reported efforts to simplify mortgage modification by everyone from lending institutions to the White House, mortgage modifications are still tricky and time-consuming. As of today, it’s still difficult for homeowners struggling to make mortgage payments to have their mortgages modified by lenders. As a result, i’s become a sub-segment of the real estate legal... Read more »