JPMorgan Chase head Jamie Dimon better watch out this Christmas?the homeless are coming to town. At least 30 homeless and housing activists rallied outside the headquarters of banking giant Chase December 2 to demand that the bank utilize their ownership of vacant property in New York City to create housing for poor people and the …
Category Archive: Modification / Foreclosure Resource Center
Permanent link to this article: http://chasehomefinancesucks.com/2009/12/chasing-jpmorgan-picture-the-homeless-takes-aim-at-chase-bank/
Dec 04
Why Many Home Loan Modifications Fail
Why are so few temporary mortgage modifications turning permanent? Justin Sullivan/Getty Images The ?Save the Dream? event in Daly City, Calif., in October. Loan modifications hinge on borrowers providing proof of income. One reason may be the same one that a lot of bad loans were made in the first place. Borrowers can declare their …
Permanent link to this article: http://chasehomefinancesucks.com/2009/12/why-many-home-loan-modifications-fail/
Dec 01
Feds step up pressure on mortgage companies
WASHINGTON — Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren’t doing enough to help borrowers at risk of losing their homes. Treasury Department officials said Monday they will step up pressure on the 71 companies participating in the government’s $75 …
Permanent link to this article: http://chasehomefinancesucks.com/2009/12/feds-step-up-pressure-on-mortgage-companies/
Dec 01
The Housing Crisis and Wall Street Shame
One out of four homeowners is now under water, owing more on their homes than the homes are worth. Why? The biggest single factor behind the housing crisis is rising unemployment. According to the latest ABC-Washington Post poll, one out of every three Americans has either lost their job or lives in a household with …
Permanent link to this article: http://chasehomefinancesucks.com/2009/12/the-housing-crisis-and-wall-street-shame/
Nov 29
Treasury wants more lender leeway on loans
WASHINGTON (Reuters) ? The Treasury Department wants lenders and companies that process monthly mortgage payments to do more to rework troubled home mortgage loans and will announce new measures on Monday aimed at achieving that goal, a department spokeswoman said on Saturday. The New York Times in its Sunday edition quoted Michael Barr, the Treasury …
Permanent link to this article: http://chasehomefinancesucks.com/2009/11/treasury-wants-more-lender-leeway-on-loans/
Nov 28
Obama’s Administration plans new efforts on foreclosures. Great more money down the toilet.
The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday. The administration will announce its expanded program on Monday, Treasury spokeswoman Meg Reilly said. “We are taking additional steps to enhance servicer …
Permanent link to this article: http://chasehomefinancesucks.com/2009/11/obamas-administration-plans-new-efforts-on-foreclosures-great-more-money-down-the-toilet/
Nov 26
Judge blasts bad bank, erases 525G debt one for the home owner. YES
A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present — canceling their debt to ruthless bankers trying to toss them out on the street. Suffolk Judge Jeffrey Spinner wiped out $525,000 in mortgage payments demanded by a California bank, blasting its “harsh, repugnant, shocking and repulsive” acts. …
Permanent link to this article: http://chasehomefinancesucks.com/2009/11/judge-blasts-bad-bank-erases-525g-debt-one-for-the-home-owner-yes/
Nov 23
Renters hit by foreclosure crisis
A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and Los Angeles, where many investors are carrying upside-down mortgages on large rental buildings, some tenants are watching their homes fall apart along with the financing. Janeia Sandiford, a 24-year-old …
Permanent link to this article: http://chasehomefinancesucks.com/2009/11/renters-hit-by-foreclosure-crisis/
Nov 19
Mortgage Defaults Hitting Record Highs
More bad news for the housing market, the number of people falling behind on their mortgage payments continues to climb. The Mortgage Bankers Association says 9.64 percent of all home loans outstanding last quarter were at least one payment past due. What’s worse? That figure does not include loans that are in the process of …
Permanent link to this article: http://chasehomefinancesucks.com/2009/11/mortgage-defaults-hitting-record-highs/
Permanent link to this article: http://chasehomefinancesucks.com/2009/11/fannie-mae-offers-borrowers-option-to-foreclosure/