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countrywide: Countrywide Loses Ruling in Mortgage Suit - Death Knell for Loan Mods & Short Sales? - 08/28/09 02:24 PM
A member forwarded this article to me this morning. I haven't seen or heard anything about it before this. This particular ruling on short-sale and loan modification relief is limited in that it apparently decided that the matter is more appropriately handled by state courts rather than Federal - but...
If this becomes a precedent on investor rights it will sound the death knell for an already shaky loan mod & short sale program. Sounds like the banks are hung out to dry here . directed by legislature to modify loans and expedite short sales, prohibited by this ruling from doing … (1 comments)

countrywide: Help for Countrywide Borrowers in Landmark Settlement - 10/06/08 02:17 PM
10-6 Countrywide settlement I am posting this announcement from our State Attorney General's office. Launched this past June 30, the AG has pursued this case aggressively and reached a speedy settlement that may in fact benefit many of our clients who will be able to remain in their homes. If you need more information, click on the AG Logo for a full text of the settlement and a Q & A. (Article emphasis is mine) Attorney General Brown Announces Landmark $8.68 Billion Settlement with Countrywide Attorney General Edmund G. Brown Jr. today announced a landmark, multi-state settlement with Countrywide Home Loans, … (12 comments)

countrywide: Countrywide charged with mortgage fraud? What's next? - 02/07/08 11:01 PM
A reporter friend just called me about a lawsuit recently filed in the Los Angeles Superior Court against home builder KB Homes and lender Countrywide KB Home Loans involving, what else, fraud. I've attached the press release below for your information.
Builders are in a tough spot right now and have been for the past couple years. They have standing inventory that they need to sell but the market has dropped by 30% - 40% (at least in our part of California). If they drop the price of their new homes to a salable level, they've just pissed off everybody who bought … (12 comments)