Homeowners will benefit from loan modifications, cash payments and regulation changes.

Thursday, February 9, 2012

A $25 billion pot is being provided by 5 banks to settle allegations that they engaged in abusive foreclosure tactics, including so-called “robo-signing,” in which employees faked signatures on foreclosure papers or swore to the accuracy of papers had not actually read. [...]

These discussions from around the web might be of value. Click a subject to jump to that section.

What are my alternatives to Investment property?

Should I ’short sale’ my condo?

Can I negotiate to be allowed to rent my condo.?

What if I stop paying my condo mortgage, in which way my credit will be affected?

I cannot pay [...]

Overshadowed somewhat by collapse of leading financial institutions, the second wave of mortgage defaults, projected to be bigger than the sub-primes is due to happen in 2009-2010.

from the show:

The trouble now is that the insanity didn’t end with sub-primes. There
were two other kinds of exotic mortgages that became popular, called
“Alt-A” and “option ARM.” The option [...]