Browsing Archive: September, 2011

17 Facts That Prove That The Average American Family Is Getting Absolutely Pulverized By This Economy

Posted by MortgageFraudNC . on Friday, September 30, 2011,
September 28, 2011

How in the world does the average American family survive in this economy?  The median household income is a little bit less than $50,000 a year right now.  So let’s call that about $4000 a month.  But before any of that money gets spent, you have to take out at least $1000 in taxes.  That leaves about $3000 a month to pay all the bills with.  With that $3000 you have to pay the mortgage (or rent), make the car payments, make the student loan payments, pay for powe...

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Mortgage Industry Tanks, Fraud Continues at Countrywide

Posted by MortgageFraudNC . on Wednesday, September 28, 2011,

The Mortgage Meltdown

September 27th 2011
Economy - Foreclosure

The mortgage market was struggling in March 2007 when Countrywide promoted Eileen Foster to executive vice president and tapped her to take over the company’s mortgage fraud unit.

Home prices were sputtering, borrower defaults were climbing, and the industry leader, Countywide, would soon be forced to ask Bank of America for an infusion of capital to help it keep afloat.

The fraud investigation unit was also...

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Stranger moves into foreclosed home citing Texas law

Posted by MortgageFraudNC . on Saturday, September 24, 2011,
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IMPORTANT News: Bank of America admissions

Posted by MortgageFraudNC . on Saturday, September 24, 2011,

I just received a notice about my loan from Bank of America, which had been serviced by BAC Home Loans.  They are now transferring the servicing to Bank of America N.A.


Most of you who have Bank of America loans will have received this notice.  Many of you probably think nothing of this.  DON’T MAKE THIS MISTAKE!


This could be one of the most important documents ever in your foreclosure defense.


You see, BAC Home Loans were told to stop their foreclosures un...

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Latest 50 State Attorney General Settlement w/ Banks is Worth Less than 2 Months Rent to Harmed Homeowners

Posted by MortgageFraudNC . on Friday, September 23, 2011,

The remainder, about $4bn-$4.4bn in cash, could be designated for the states, which then would divide the proceeds to fund a variety of programmes, including assistance to borrowers.

About half that amount could be used to pay up to $2,000 to an estimated 1.1m aggrieved borrowers who allege they were harmed by improper practices.

Talks on US mortgage abuses hit key stage

By Shahien Nasiripour in New York

The largest US mortgage servicers will meet federal and state officials in Wash...

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Moody’s Downgrades Bankster Trifecta

Posted by MortgageFraudNC . on Thursday, September 22, 2011,

Kurt Nimmo
Article retrieved from
September 21, 2011

Too big to fail? Moody’s has lowered its debt ratings for Bank of America, Wells Fargo and Citigroup.

The ratings agency said today it decided to downgrade after it became apparent the government would not bailout the banking behemoths in a crisis. Moody’s attributed its decision in part on new laws under the Dodd-Frank Wall Street Reform Act, according to the Associated Press.

Bank of America fared the worst of the tr...

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