Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed the rules and that he was going to fight this …
Foreclosures
Mortgage Giants Wells Fargo and Bank of America Opt Out of Reverse Mortgage Business
At the height of the real estate market, I recall driving past a Bay Area billboard for an apparently conservative financial advisory firm that read something like: “Your home is not a retirement plan.” At the time, the …
Is It OK to Walk Away From Your Mortgage?
In spite of the mild economic recovery we’re experiencing, the percentage of homeowners who are underwater on their mortgages — that is, they owe more than their homes are worth — has barely budged.
Man Gets Foreclosure Notice, Demanding He Pay $0.00 or Else
Earlier this year, a Massachusetts man received a worrisome letter, stating that his house might be foreclosed on. But he could avoid his fate — by paying $0.
Homeowner Forecloses on Bank of America
In a modern-day evocation of David’s slingshot triumph over Goliath, a couple of foreclosed homeowners in Naples, Fla., reportedly foreclosed on a Bank of America branch last week, their attorney actually having moving trucks …
Foreclosure Watch: It’s Not as Bad as You Think
As the U.S.’s foreclosure crisis plays out, homeowners are slowly catching up on paying their mortgages.
Poking Holes in The Depressing Housing Data
When the March Case-Shiller housing price data came out on Tuesday showing that prices in 19 of the 20 cities in the index had fallen, the news was unwelcome, to say the least.
