May

Blog Posts in May, 2012

  • According to data recently released by the Mortgage Bankers Association, nearly 7.5 percent of Illinois residential properties secured by mortgages were in foreclosure at the end of March - compared to the national average of 4.39 percent for the ...
  • According to the Illinois Bar Journal, there is legislation pending in Springfield that would change how judgment creditors give notice to judgment debtors in collection actions. When a creditor obtains a judgment against a borrower in a collections ...
  • Wells Fargo Class Action Suit Survives Dismissal

    In addition to Wigod v. Wells Fargo, it seems that more Plaintiffs are surviving motions to dismiss in their lawsuits against the mortgage lender and servicer. A federal judge in Northern California recently denied Wells Fargo's attempt to ...
  • I recently had the opportunity to see one of the Bank of America offer letters. These are the offer letters being sent out as part of the foreclosure fraud settlement. While the offer was substantial, I still have misgivings. The offer forgave the ...
  • According to Forbes, Bank of America is about to begin sending out its first round of loan modification offers. This first round of offers begins BofA's compliance with the foreclosure fraud settlement. How consumer-friendly these offers will be ...
  • More Mortgage Rescue Scams in the News

    According to this report from the Quad Cities, Illinois home owners are being targeted by mortgage rescue scams that appear as offers for loan modification assistance from groups that claim to be associated with the Department of Housing and Urban ...
  • Practice Note: The Business Records Rule and Affidavits

    Bob Lawless over at Credit Slips recently wrote about a recent ruling from the Tennessee Court of Appeals. The case hinges on two rules of evidence: the prohibition against hearsay evidence and the business records exception to the hearsay rule. When ...
  • A Bright Side to the Foreclosure Fraud Settlement?

    If nothing else, at least one family has been offered a principal reduction as a result of the foreclosure fraud settlement. Normally, this story would make me hopeful that the foreclosure fraud settlement will lead to significant changes in the ...