• Archives

  • Blog Stats

    • 666,182 hits
  • Categories

Almost 40 millions of Americans live in housing they cannot afford

http://www.cnbc.com/2017/07/13/harvard-study-heres-how-many-americans-cant-afford-housing.html Ester Bloom Thursday, 13 Jul 2017 | 9:22 AM ET Harvard study: Almost 40 million Americans can’t afford to pay for housing According to new research by Harvard University, almost 40 million Americans “live in housing they cannot afford.” Homeownership has gone down and rental prices keep going up, meaning that millions of residents […]

via A shocking number of Americans live in housing they can’t afford, according to Harvard study — Livinglies’s Weblog

Subprime mortgages are making a comeback

Apparently the biggest banks in the US didn’t learn their lesson the first time around… Because a few days ago, Wells Fargo, Bank of America, and many of the usual suspects made a stunning announcement that they would start making crappy subprime loans once again! I’m sure you remember how this all blew up back […]

via The Subprime Mortgage Is Back: It’s 2008 All Over Again! — Easy Money

This is very bad news for the economy as this will make the real estate bubble grow even larger and guarantees that the next real estate crash will be several orders of magnitude worse than the last one.

 

Foreclosures lead to profits for house flippers

http://www.truth-out.org/opinion/item/41151-foreclosures-lead-to-flippers-profits The United States has entered a new phase of residential foreclosure. The basic narrative is shocking: House-flippers are being allowed to push troubled homeowners out of their houses. As a neighbor of mine said, succinctly, “It’s cheaper for them.” In an ugly way, house flipping is a sweet deal in any area where the […]

via Foreclosures Lead to Flippers’ Profits — Livinglies’s Weblog

That is outrageous that anyone that has a direct pecuniary interest in foreclosing on a homeowner would ever be allowed to become a substitute trustee.  This practice needs to stop now.

 

10th Circuit refuses to apply Jesinoski decision

US Bank, rescission,

via 10th Circuit Challenges SCOTUS on TILA Rescission — Pohl v US Bank, “Trustee” — Livinglies’s Weblog

This is a bad decision that is made even worse by the fact that this decision is published which means that it is now binding authority in all Courts under the jurisdiction of the Tenth Circuit Court of Appeals.  The real danger is that Judges in other areas of the United States can still cite this case as persuasive authority.

Trouble is brewing in banker paradise

Authored by Adam Taggart via PeakProsperity.com, In our recent report, Banks Are Evil, we pulled no punches in making the accusation that the financial system is the root cause of injustice in today’s society.ADVERTISING It’s a good blood-boiler. You should read it if you haven’t already. Its main premise is this: In my opinion, it’s […]

via Sympathy For The Devil? Trouble Is Brewing In Banker Paradise — Livinglies’s Weblog

Ocwen stock is tanking fast

Update: The Consumer Financial Protection Bureau just sued Ocwen for “failing borrowers throughout mortgage servicing process. It says “mortgage servicer’s widespread errors, shortcuts, and runarounds cost borrowers money, homes.” CFPB Press Release CFPB Complaint The Commissioner of Financial Regulation for the State of Maryland issued a Summary Order to Cease and Desist and Partial Summary […]

via Ocwen Stock Tanking in Wake of Cease and Desist Order — Findsen Law

Ocwen fabricates mortgage documents

Ocwen is the bottom-feeder of mortgage servicing companies. Most survey’s rank Ocwen as the absolute worst in customer service and accountability including consumer research by J.D. Powers. Ocwen acts as a debt-collector and our experience at LendingLies is that Ocwen often cannot identify the true creditor or provide any documentation demonstrating who owns the loan. […]

via Sub-Prime Mortgage Servicer Ocwen fabricates Mortgage Documents — Livinglies’s Weblog

%d bloggers like this: