foreclosure prevention: Cook County (IL) Sheriff is suspending all foreclosure evictions - good or bad? - 10/09/08 09:43 PM
Cook County (IL) Sheriff is suspending all foreclosure evictions - good or bad?
Is the sheriff suspension of foreclosure evictions good or bad? The move is made to protect innocent renters from being evicted because their landlords did not pay their mortgages. Banks and mortgage companies represented in the Illinois Bankers Association are saying the sheriff is breaking the law by not following court orders for evictions.
Is sheriff Dart a hero or a villain?
Indeed, a certain percentage of renters will be protected (as I feel they should be) but it also rewards homeowners (some who are living in the … (0 comments)
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foreclosure prevention: Bank of America’s own bail-out plan for Countrywide customers in risky loans. - 10/06/08 10:42 PM
Bank of America's own bail-out plan for Countrywide customers in risky loans.
Bank of America announced the creation of a proactive home retention program that will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for almost 400,000 Countrywide customers nationwide (125,000 of them in California).
With this plan, Bank of America is trying to create goodwill and also further distance itself from the lending practices that went on at Countrywide for the last few years. After initial promises of keeping Countrywide's management in place and letting them run the mortgage division of the … (0 comments)
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