Archive for March, 2012

BofA Tests an Option to Foreclosure

March 24, 2012

The following article is brought to you by Nick Timiraos of The Wall Street Journal. Lender Lets Owners Stay in Homes, Rent From the Bank Bank of America Corp. is launching a pilot program that will allow homeowners at risk of foreclosure to hand over deeds to their houses and sign leases that will let […]

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Posted in Home Loan Modifications, JPMorgan Chase | 1 Comment »

Geithner Agrees to Written Testimony in Lehman’s JPMorgan Suit

March 21, 2012

The following article is brought to you by MoneyNews.Com. U.S. Treasury Secretary Timothy Geithner agreed to answer questions in writing in Lehman Brothers Holdings Inc.’s lawsuit alleging that JPMorgan Chase & Co. contributed to Lehman’s collapse in 2008. Geithner’s agreement, noted in a March 16 filing by the U.S. in federal court in Washington, forestalls […]

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Posted in Home Loan Modifications, Jamie Dimon, JPMorgan Chase | No Comments »

Jury Finds Chase 5 Not Guilty Because Defendants Had Reason to Believe They Weren’t Breaking Trespass Law

March 21, 2012

The following article is brought to you by John Iacovelli at OpEdNews.Com. Danielle Simmons, Liam Wright, Sarah Svobodny, Hudson William-Eynon and Michael Stevens, known as the Chase 5, were found not guilty of trespass by a jury in Seattle March 15. The five, members of Occupy Seattle, entered a Chase Bank branch in the Capitol […]

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Posted in Home Loan Modifications, Jamie Dimon, JPMorgan Chase | No Comments »

Bank Officials Cited in Churn of Foreclosures

March 21, 2012

The following article is brought to you by Nelson D. Schwartz at NYTimes.Com. Managers at major banks ignored widespread errors in theforeclosure process, in some cases instructing employees to adopt make-believe titles and speed documents through the system despite internal objections, according to a wide-ranging review by federal investigators. The banks have largely focused the […]

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Rage growing over mortgage deal

March 13, 2012

The following article is brought to you by CNN Money found at the site 11Alive.Com. NEW YORK (CNNMoney) — As more details emerge about the massive $26 billion foreclosure settlement between the five biggest mortgage lenders and the states’ attorneys general, a growing number of borrowers are realizing that the deal will do little, if […]

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Posted in Home Loan Modifications, Jamie Dimon, JPMorgan Chase | 1 Comment »