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Tag Archives: foreclosure

Mortgage modification scams on the rise

One of the fallouts of the mortgage foreclosure debacle is a cottage industry of mortgage modification or “mortgage rescue” companies. Consumer advocates say many of these companies are defrauding distressed and already cash-strapped homeowners by charging for services they do ...

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JPMorgan, banks to halt foreclosures for three weeks

Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. agreed to suspend foreclosures while the Obama administration crafts a housing plan to modify mortgages for troubled borrowers. Citigroup will halt foreclosures through ...

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UMB takes over ownership of Renaissance Grand

Bondholders for the Renaissance Grand Hotel and Suites formally took over ownership of the hotel after no bidders appeared at the foreclosure sale on Monday. UMB Bank, the bondholders’ trustee, entered a bid of $98 million, the value of debt ...

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Vermont foreclosures held off by Yankee ways

Vermont is avoiding the foreclosure crisis plaguing homeowners across the U.S., perhaps owing to traditions of thrift, modesty and self-reliance – bolstered by laws that protect buyers and land. The foreclosure rate in Vermont is the lowest in the U.S., ...

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Obama’s foreclosure plan may back rewritten loans

The Obama administration is considering government guarantees for home loans modified by their servicers, seeking to stem the record surge of foreclosures that’s hammering U.S. property values. The proposal, which may also have the taxpayer share in the cost of ...

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