As the sixth year of the foreclosure crisis comes to an end, the percentage of loans in foreclosure remains a staggering eight times higher than it was in 2005. About 5.3 million homeowners — about 11 percent of all borrowers — are behind on their payments.
The Independent Foreclosure Review, the government's main effort to compensate homeowners for harm by banks, is supposed to be independent from the banks. But in Bank of America's case, it wasn't.
Detroit Occupiers left Grand Circus Park nearly a year ago in the week preceding the city's Thanksgiving Day parade. A new "mini-documentary" released on YouTube recently provides a glimpse of what it was like during those chilly days when
By Paul Kiel, ProPublica An executive who the Justice Department says facilitated a scheme to defraud Fannie Mae and Freddie Mac is now spearheading JPMorgan Chase's role in the government's program to compensate victims of the big
By Cora Currier -- ProPublica Florida has the highest percentage of home loans in foreclosure in the country. So why is more than $300 million that could help homeowners sitting unused? Florida was awarded those millions in February as
Via Occupy Wall St., via Occupy Our Homes. Be sure to check out their website for more information on how you can support on-going occupations to save homes from foreclosure, including active campaigns like this one to save the home of
Late last year, the country's bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks' flawed or illegal practices. Regulators dubbed it the "Independent Foreclosure Review" to emphasize that the banks would not be making key decisions about loans they had made or serviced.
Federal watchdog says mortgage giant had no coordinated plan to bet against homeowners, though Freddie held billions of dollars of investments that paid off if borrowers stayed stuck in high-interest loans.
Foreclosure Fail: Study Pins Blame on Big Banks by Paul Kiel ProPublica Answers to homeowners' questions about the Independent Foreclosure Review.The administration's website for the foreclosure prevention program. Provides an FAQ,
Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it’s $125,000. Or $60,000. Or $15,000. Or… it’s unclear. Last November, banking regulators launched a process to force the big banks to compensate homeowners victimized by their foreclosure abuses. Many crucial details remained unclear, including how much victims might receive...