October 26, 2012. By Heidi Turner.
Read [ Reverse Mortgage Lenders Allegedly Prey on Seniors ]
Chicago, IL For some seniors, the money offered through a reverse mortgage can be a lifesaver. People living on a fixed income might not have enough money to make ends meet in the case of illness or injury, so money obtained from a reverse mortgage lender can seem like the ideal solution. Unfortunately, some reverse mortgage lenders are accused of unethical tactics, including misleading seniors about the risks associated with a reverse mortgage so they experience a reverse mortgage default and their home is foreclosed.
October 13, 2012. By Gordon Gibb.
Read [ LawyersandSettlements.com Reports 70 Percent Spike in Mortgage Claims ]
Santa Cruz, CA (Press Release) While the aftermath of the sub-prime mortgage crisis has seen a number of large U.S. banks defending themselves against charges of misconduct, new data reported by LawyersandSettlements.com indicates consumers are still being impacted by the crisis. Mortgage-related complaints submitted to the legal news website have continued to increase year-over-year as readers continue to seek out legal help in dealing with foreclosures and discriminatory lending practices.
May 13, 2011. By Charles Benson.
Los Angeles, CA: The Los Angeles city attorney recently filed a mortgage lawsuit against Deutsche Bank AG, claiming it was responsible for allowing a number of foreclosed properties to fall into disrepair.Read [ Deutsche Bank Hit with Mortgage Lawsuit ]
April 7, 2011. By Brenda Craig.
Read [ National City Bank Gone But Not Forgotten by Aggrieved Mortgage Holders ]
Alexandria, VA: It's a bit complicated, but what National City Bank did in 2008 at the height of the banking crisis had disastrous consequences for hundreds of mortgage holders.
January 19, 2011. By Lucy Campbell.
Read [ Chase Wrongly Overcharged and Foreclosed on Military Mortgages ]
New York, NY JP Morgan Chase has admitted in a report aired by NBC News, that they have "overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan." Furthermore, the bank actually foreclosed, improperly, on the homes of several military families.
January 5, 2011. By Charles Benson.
Read [ Bank of America Takes a Hit in Mortgage Lawsuit ]
Auburn, NY Bank of America recently lost a major ruling in its mortgage lawsuit that will make it more difficult for the bank to defend itself, the Washington Post reports.
December 24, 2010. By Gordon Gibb.
Read [ Predatory Lending, Mortgage Fraud in the Spotlight ]
Washington, DC As tough a time as homeowners have in the current economy, it is heartbreaking to know that homeowners have even more to worry about with regard to the potential for mortgage fraud, by way of an inflated mortgage fee or predatory lending practices designed to squeeze every last dime out of a homeowner who can least afford to be taken to the cleaners. In Iowa, however, they're cracking down.
July 16, 2010. By Charles Benson.
Read [ Financial Reform Could End Predatory Mortgage Lending ]
Washington, DC Some of the key elements of Congress' proposed financial reform bill would affect how loans are regulated, particularly predatory mortgage lending.
June 14, 2010. By Charles Benson.
Read [ West Virginia Woman Sues Local Bank over Predatory Lending Allegations ]
Charleston,WV A woman from Cross Lanes, West Virginia, has filed suit against Flagstar Bank and one of its employees over alleged predatory lending practices related to the woman's mortgage.
May 22, 2010. By Gordon Gibb.
Read [ Tales of Woe: Predatory Mortgage Fees and Products ]
Davis, CA Elaine Roberts Musser says she has pretty much seen it all in her law practice—predatory lending, high mortgage fees and more. Part of the problem, she writes in the 5/20/10 issue of the People's Vanguard of Davis, is that complex mortgage products designed for the educated investor who intends to own property as an investment for only a short period of time are instead foisted upon the everyday Joe who simply intends on buying a single house and staying put for a long time.
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