Sen. Scott Brown believes the civil lawsuit filed by the SEC (Securities and Exchange Commission) a couple days ago against ex-CEOs of Freddie Mac and Fannie Mae, fails to achieve justice and accountability for the American. He is trying to push the Justice Department and the SEC to open immediately criminal investigations into Freddie and [...]
President Obama gave green light to a government spending bill yesterday morning which reinstalled higher conforming loan limits for the FHA (Federal Housing Administration) through the end of 2013. This means that starting yesterday, FHA can ensure loans up to $729,750 from $625,500 in the most expensive neighborhoods. An earlier proposed amendment to the bill [...]
According to a recent report conducted by the Michigan Ross School of Business banks that received federal funding from the Troubled Asset Relief Program or TARP, have since increased their risk level with about 10%. Professors Ran Duchin and Denis Sosyura signed the report, after studying risk among banks receiving TARP funds and banks that [...]
JPMorgan Chase announced during its third-quarter earnings call that the news of imminent AG settlement is not real. Jamie Dimon, JPMorgan Chase CEO said the settlement talks are on hold because of the many varying demands of each of the “50” state attorneys general, a couple of which have already pulled out of the negotiations, [...]
Executives of the former Alpha Bank & Trust from Georgia will have stressful days ahead, as they have to explain in court to questions regarding their decisions. The FDIC filed a lawsuit against 11 of the executives in order to recover at least $24 million of the $215 million damage that cost the failure of [...]
The number of attorneys general leaving the settlement is growing day by day, but this doesn’t seem to bother Tom Miller, Iowa Attorney General, who said he would forge ahead with the mortgage servicer settlement talks. After New York Attorney General was kicked out by Miller, now California AG Kamala Harris showed no interest in [...]
When Eric Schneiderman, New York Attorney General filed a lawsuit against Bank of New York Mellon a couple months ago, he asserted that the Countrywide mortgage-backed securitization trustee had breached its duty to MBS investors As trustee, BNYM owed and owes a fiduciary duty of undivided loyalty,” said the AG’s suit, which was filed as [...]
The Consumer Financial Protection Bureau or CFPB collects feedback about sample mortgage disclosure forms to help the agency construct standard uniform lending documents for the industry. The fourth round of testing is part of CFPB’s “Know Before You Owe” campaign. The agency posted identical mortgage forms online this week with different loan products printed on [...]
Washington state’s Supreme Court will determine whether thousands of pending foreclosures can proceed out of court or not. MERS was created by the nation’s big lenders such as Fannie Mae, Freddie Mac, bank of America and others in 1995 to get around cumbersome laws that required paperwork and the involvement of county clerks when a [...]
It looks like not only Schneiderman had the eye for suspicious settlement between The Bank of New York Mellon and Bank of America. Now investors in soured Countrywide MBSs used a legal trap Friday to stop the same settlement which Schneiderman tried to block. The plaintiff in the case, Walnut Place, represents investors in Countrywide [...]
I had two properties with no renters, and both were “under water”. I had resolved myself to letting them go into foreclosure. This would have crushed my credit and I was unsettled about it to say the least.
I had a credit score of 770 and was in danger of loosing the good credit my wife and I had worked so hard to get. I decided to give Eureka a try and I am very glad I did. I just closed one loan and the other is in the process of negotiations and should close very soon.
As soon as I had this service on my side, I was able to point the creditors to them for any questions. Once the creditors had this information on file, their calls slowed to a crawl, almost overnight. I have not heard from any of the creditors from either property for a long time. I felt like I finally had someone on my side. For the first time in months, I was able to sleep without worrying about what the future held in store.
If you are in a situation where you need to sell your property and get out from under that debt, Eureka is your answer. I do not need to wish you “good luck” as Eureka will do everything they can to make your problems a thing of the past. The sooner you act, the better things will be. Give them all the information they ask for and let them take over. You’ll be glad you did.
Alan Moses
Germantown, MD
