Tag foreclosures

States Strike Back: CA Takes Action on Home Foreclosures

The California legislature passed a landmark bill Monday strongly regulating how banks handle home foreclosures. The legislation bans dual tracking, the odious practice where lenders pursue home foreclosure while negotiating with homeowners about modifying mortgage terms. Robo-signing– falsifying signatures– on…

Utah to BofA. Your foreclosures are illegal

This is in direct response to BofA previously telling Utah to go screw itself about the foreclosures. Market-Ticker says what Utah should do now. The time to rattle sabers is over. Start revoking foreign corporate registrations (necessary to do business…

Don’t mourn, organize

Susie Madrak Did you know that during the Greater Depression, communists and socialists organized people all over the country to stop foreclosures and evictions? Why aren’t more of us doing it now? She details how some groups are doing something…

No foreclosure peak until 2011

RealtyTrac says foreclosure notices rose 4% last month, the 17th straight month filings have exceeded 300,000. And RealtyTrac’s Rick Sharga tells MarketWatch News Break that foreclosures may not peak until 2011 AR, NV, FL top the list, with Nevada being…

Strategic default is not a moral failing

“Strategic default” involves homeowners deciding to walk away from their homes and mortgages, not because they cannot afford to pay, but because they owe more than their homes are worth. Read the news, and you’ll see that a lot of…

Bailout watchdog: TARP’s a flop

Chart from Business Insider (Read the whole article) The watchdog charged with monitoring the government’s $700 billion bailout unleashed one of his harshest criticisms of the program to date, questioning its overall effectiveness. Specifically, TARP has neither boosted bank lending…