Browsing Archive: May, 2011
Posted by M Robinson on Monday, May 30, 2011,
Congress recently passed a 0-billion bill designed to infuse cash
into Wall Street and bring back confidence in America’s financial
system. Despite the optimism caused by a global stock rally after the
Emergency Economic Stabilization Act was signed, it could still take a
long time to work through the process and restore the economy given all
the headwinds facing the housing market.
From the plunge in home prices, to soaring defaults on mortgages
that are dumping more homes on an already gl... Continue reading ...
Posted by M Robinson on Monday, May 30, 2011,
U.S. banks, seeking to avoid
$17 billion in court claims over faulty foreclosures, are
discussing a settlement framework with state attorneys general
that may let firms choose from a menu of options for helping
borrowers, two people briefed on the talks said.
Under the proposal, Bank of America Corp. (BAC), Wells Fargo &
Co. (WFC), JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and Ally Financial
Inc. would pay penalties and pledge billions of dollars in
relief to home buyers, one of the peo... Continue reading ...
Posted by M Robinson on Sunday, May 29, 2011,
The FBI has set up
Mortgage Fraud Task Forces throughout the country, including in Charlotte,
North Carolina. The latest FBI Mortgage Fraud Report lists
North Carolina as one of the top states “significantly affected” by
mortgage fraud.
“Mortgage Fraud” has
become the general term to describe what is actually a wide spectrum of
allegedly fraudulent conduct, including false loan applications, false
or inflated appraisals, failure to disclo... Continue reading ...
Posted by M Robinson on Saturday, May 28, 2011,
Posted on May 27, 2011 by Neil Garfield
 
EDITOR’S NOTE: I am tired of reading about how economists express
surprise at the sluggish economy. The same goes for when they express hope at
slightest uptick in any index that is followed, none of which are real
representations of economic activity. As the recent New
York Times Editorial stated, as housing goes, so goes the economy. Housing is
corrupted by the ongoing fraud being perpetrated by Wall Street. We have
fraudulent loans compound... Continue reading ...
Posted by M Robinson on Saturday, May 28, 2011,
GOP legislator pays jobless worker $8 for yard work,
chides her in email
Post
on May 27, 2011 by Sarah Ovaska 30 Comments »
Rep. Stephen LaRoque, a Kinston
Republican, was the subject of this Huffington Post story earlier this
afternoon, where it reported he paid one of the 46,000 jobless workers without
unemployment benefits $8-an-hour to do yard work at his house.
The Huffington Post story gave
mention to a testy email exchange Treadway and LaRoque had on Thursday. Scroll
down this... Continue reading ...
Posted by M Robinson on Thursday, May 26, 2011,
The Take Back the Land Movement is rooted in the following principles:
- Housing is a human right;
- Local community control over land and housing;
- Leadership by impacted communities, particularly low income women of color;
- Direct action oriented campaigns.
The overarching objective of the Take Back the Land Movement correlate significantly with our principles:
- Fundamentally transform land relationships;
- Elevate housing to the level of a human right;
- Community control ...
Continue reading ...
Posted by M Robinson on Thursday, May 26, 2011,
North Carolina Overview
| Judicial |
Non-Judicial |
Process Period |
Sale Publication |
Redemption Period |
Sale/NTS |
| Yes |
Yes |
110 Days |
25 Days |
None |
Sheriff |
Pre-foreclosure Period
Foreclosures go through the courts when there are title problems. A
lawsuit is f... Continue reading ...
Posted by M Robinson on Thursday, May 26, 2011,
Baltimore
Rep. Elijah E. Cummings on Wednesday requested that the House Oversight
Committee issue subpoenas to six banks he said have refused to
voluntarily provide documents detailing their role in the mortgage
foreclosure meltdown.
Cummings, the top-ranking Democrat on the committee who has made the
foreclosure issue a top pri... Continue reading ...
Posted by M Robinson on Wednesday, May 25, 2011,
Christopher Joy story, http://www.wral.com/news/local/story/8564574/ Continue reading ...
| |