Archive for the ‘California foreclosure’ Category

Current Events: Bank of America & Home Loans

Thursday, October 25th, 2012

The government continues to crack down on mortgage schemes today with news breaking that federal prosecutors have sued Bank of America, accusing the massive lender of carrying out a fraudulent home loan program. During the financial crisis, prosecutors say that BOA deceived the government by selling poor loans, without revealing the quality of the loans, to Fannie Mae and Freddie Mac. All of this dates back to BOA’s acquisition of a struggling mortgage lender, Countrywide Financial, in 2008. Before the buy out, Countrywide Financial was operating a home loan program, called the “hustle”, which was established to churn out as [...]

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HOEPA and Truth in Lending Laws

Wednesday, September 12th, 2012

Mortgage loan paperwork can be more than confusing. Even the most fastidious among us may misunderstand or miss an important loan term. There is APR to consider, possible balloon payments, regular payments owed, maximum payments allowed, variable rates, and the list goes on. These details must be legally disclosed in documentation three days prior to finalizing the loan. Furthermore, there are important mortgage laws to protect borrowers against unfair and illegal lending practices that you should be familiar with if you face foreclosure or are under pressure from your lender. The Home Ownership and Equity Protection Act (HOEPA) and Truth [...] Each collection features a good variety cell phone spy software within of ideas, from the simplest slice and bake to fancier piped italian polenta cookies and fussy macarons