Sep 10th 2012 2:00PM
By Les Christie While millions of struggling homeowners have had to jump through all sorts of hoops trying to refinance their mortgages, Michelle and Bob Irwin barely had to lift a finger. This summer, the couple received a letter from JPMorgan Chase, their mortgage servicer, informing them that it was going to slash... Continue Reading »
Aug 8th 2012 9:00AM
By Jon Prior JPMorgan Chase went from fast-tracking foreclosures to rubber stamping and pre-approving some borrowers for refinances and even principal reduction. The five largest mortgage servicers signed a $25 billion deal with federal prosecutors and 49 state attorneys general in March to settle foreclosure abuses and... Continue Reading »
Jul 27th 2012 10:00AM
A disabled veteran says Chase Bank told him that it would grant him a special VA loan to buy a house -- then rescinded the offer, saying it never offered that type of loan to begin with. Now the Chicago-area man could soon be homeless. Gordon Kouba (pictured at left), 43, of Grayslake, Ill., is a former Marine who... Continue Reading »
Oct 1st 2010 5:49PM
With JPMorgan Chase and Ally Financial both calling a temporary halt to foreclosures and members of Congress questioning Fannie Mae and Freddie Mac's use of "foreclosure mills," are these just unnecessary delays for inevitable defaults? Will other major loan servicers be next in line? RealtyTrac senior vice president Rick... Continue Reading »
Apr 14th 2010 2:00PM
Tuesday's hearing by the House Committee on Financial Services was ostensibly on "Second Liens and Other Barriers to Principal Reduction as an Effective Foreclosure Mitigation Program," as the mouthful of a title indicates. Many housing experts and regulators have come believe that principal reduction is the most effective... Continue Reading »
