Foreclosure

May 22, 2008 -- SAN DIEGO -- California Attorney General Brown today shut down a team of scam artists that acquired deeds to hundreds of homes in foreclosure by convincing desperate consumers to place their property in a “land grant,” a phony and worthless real estate document.

Federal Land Grant Company—a San Diego-based business run by Bill Hutchings, his wife Xiaoke Li and former wife Shawna Landis—tricked desperate homeowners into believing that they could protect their homes from foreclosure by deeding their property to “federal land grants.” Land grant transfers, used hundreds of years ago when the United States was still acquiring land from other countries, are no longer recognized by any court or county assessor.    » read more »

National operation includes more than 180 actions against instances of telemarketing fraud

May 20, 2008 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum, Florida Agriculture and Consumer Services Commissioner Charles H. Bronson, the Federal Trade Commission (FTC), and a series of Florida partners today announced the results of a national telemarketing fraud sweep, including several actions taken throughout Florida over the past few months.    » read more »

May 09, 2008 -- "Working people applaud the bipartisan effort by the U.S. House of Representatives to help struggling homeowners retain their piece of the American dream. This bill is an important step toward keeping millions of struggling families from losing everything they have worked for all their lives.

President Bush’s threat to veto this legislation is both inhumane and dangerously short-sighted. The funds in this legislation are an investment in healthy communities, vibrant neighborhoods and a stable economy.    » read more »

May 8, 2008 -- Washington, D.C. – Speaker Nancy Pelosi released the following statement today after the House approved comprehensive bipartisan legislation to address the housing foreclosure crisis:

“The New Direction Congress acted today to protect the American Dream of homeownership with a comprehensive package of housing policy reforms that will help protect families facing foreclosure and stem the continuing drop in home values around the country.    » read more »

Legislation Headed to House Floor

May 8, 2008 -- Chicago – Illinois Attorney General Lisa Madigan, State Representative Marlow Colvin (D-33rd) and State Senator Jacqueline Collins (D-16th) have initiated new legislation to assist struggling homeowners to help save their homes. The measure, introduced as the Homeowner’s Rights Act (HB 838) by Rep. Colvin and set to be sponsored in the Senate by Sen. Collins, was voted out of house committee Wednesday and, if passed, will amend the Illinois Mortgage Foreclosure Law.    » read more »

May 7, 2008 -- WASHINGTON, DC - U.S. Senators Bob Casey (D-PA) and Johnny Isakson (R-GA) today introduced a bipartisan bill to help prevent injured veterans from losing their homes while awaiting adjudication on their disability claims.

The Disabled Veterans Homeownership Preservation Act would help disabled veterans who are caught up in the extensive backlog of claims pending in the U.S. Department of Veterans Affairs (VA).

Wounded Iraq veterans: Photo by soldiersmediacenter (CC)    » read more »

Mortgage Late? Don’t Wait!

BALTIMORE, MD (May 6, 2008) – Maryland Governor Martin O’Malley, Baltimore City Council President Stephanie Rawlings-Blake, Department of Labor and Licensing Secretary Thomas Perez, Department of Housing and Community Development Secretary Raymond Skinner and other officials today kicked off a comprehensive, multimedia advertising campaign to help tackle rising foreclosures in the State and ensure Maryland homeowners are aware of the programs available to provide assistance and relief.

Protesters outside the home of Fed Chief Ben Bernanke: Photo by cioproject (CC)    » read more »

April 25, 2008 -- Washington, DC – U.S. Senator Dianne Feinstein (D-Calif.) is urging the chief executives of six major banks to take more robust action to help American homeowners avoid foreclosure.

In a letter to the bank executives, Senator Feinstein noted the broad economic damage caused when Americans lose their homes.

Bank of America security guards: Photo by Steve Rhodes (CC)    » read more »

4/27/2008 -- For more than a year, Hillary Clinton has been fighting to solve the housing crisis and keep American families in their homes. And she has a long record of fighting for the men and women of our Armed Forces, Reserves, and National Guard - for better health care, job opportunities, and affordable homes.

Hillary Clinton: Photo by Marc Nozell (CC)    » read more »

April 22, 2008 -- The Maine State Foreclosure Prevention Working Group, a group of state attorneys general and banking regulators working to prevent home foreclosures, issued a report Tuesday concluding that efforts have increased but are falling far short of the need to address the foreclosure crisis and prevent millions of unnecessary foreclosures.

Unused house, Maine: Photo by The B's (CC)    » read more »

Seven of 10 Seriously Delinquent Borrowers Are Still Not on Track to Get Help

April 22 , 2008 -- Chicago – Illinois Attorney General Lisa Madigan today called on mortgage lenders and the federal government to step up efforts to reduce mortgage foreclosures in light of new data showing efforts are barely keeping pace with the rising rate of homeowners in trouble. Madigan is a member of the State Foreclosure Prevention Working Group, a group of state attorneys general and banking regulators working to prevent unnecessary home foreclosures.

Protesters outside Fed Chief Ben Bernanke's home: Photo by cioproject (CC)    » read more »

April 21, 2008 -- SEATTLE – Approximately 200 Washington consumers who paid for a service that they thought would help save their homes from foreclosure will receive partial refunds under a new settlement announced today by the Washington Attorney General’s Office.

The homeowners each paid $1,200-$1,500 to Foreclosure Assistance Solutions LLC, of Clearwater, Fla. More than 70 percent of homeowners who signed up with Foreclosure Assistance Solutions ended up losing their homes anyway. The company went out of business in fall 2007.    » read more »

New measure creates 60-day moratorium on foreclosure if families seek help

April 16, 2008 -- SPRINGFIELD – The Homeowner Protection Act, Senate Bill 1998, first announced by Illinois Governor Blagojevich last month and sponsored by Senator Jacqueline Collins (D-Chicago), cleared its first legislative obstacle earlier today when it was approved by the Senate Licensed Activities Committee.

For Sale By Owner sign: Photo by Chris Williams (CC)    » read more »

Washington, DC - 04/16/2008 - One in 33 homeowners is projected to be in foreclosure primarily over the next two years, as a result of subprime loans made in 2005 and 2006, according to a new report released today by The Pew Charitable Trusts. In some states, the outlook is especially grim; for instance, nearly one in 11 homeowners in Nevada is projected to be in foreclosure and one in 18 Arizona homeowners may face the same circumstance over the next two years.

Homeowners being foreclosed upon may not be the only homeowners affected, according to data cited in the report. An additional 40 million neighboring homeowners may see their property values and their municipalities’ tax bases drop by as much as $356 billion, largely over the next two years.    » read more »

Includes Foreclosure Counseling Workshops, funding for mediation, lender compact

April 14, 2008 -- Saint Paul – To provide Minnesota homeowners with additional tools to prevent foreclosure, Minnesota Governor Tim Pawlenty today announced expanded foreclosure counseling workshops to be held around the state, creation of a compact with lenders to reduce foreclosures, and state funding for voluntary third-party mediation when counseling is unsuccessful.    » read more »