Aug 12th 2011 11:00AM
In America today, even men and women returning from war can't expect their families to be exempt from the foreclosure crisis. On the same day that soldier Aaron Collette returned from a tour of duty in Iraq to his father Tim's home in Bend, Ore., that very house was bought back at auction due to foreclosure, local news... Continue Reading »
Jul 7th 2011 10:25AM
WASHINGTON -- Federal bank regulators are scrutinizing more than 150 home loan-related lawsuits directed at lenders and mortgage companies, a top official at the Federal Deposit Insurance Corporation plans to say Thursday, underscoring the threat the largest U.S. banks face from faulty and improper mortgage and foreclosure... Continue Reading »
Jun 10th 2011 2:45PM
WASHINGTON -- In August, Tim Collette's son Aaron will spend 15 days on leave from Iraq. Aaron is 20 years old, and he's been in the Army for about a year and a half. A few weeks ago, his squad was hit with an improvised explosive device. Everybody survived, but it frightened both the soldier and his family. The Army... Continue Reading »
Apr 25th 2011 3:53PM
JPMorgan Chase says it is willing to pay a whopping $56 million to settle the class-action lawsuit brought by 6,000 members of the military who accused it of overcharging them on their mortgages and violating the Servicemembers Civil Relief Act. A judge still has to approve the offer. The case was initially brought by... Continue Reading »
Oct 11th 2010 10:28AM
Before four leading banks suspended foreclosures due to improper approvals, the process was already bogged down in the 23 states that require a judge to sign off on all foreclosure cases. In those states, the housing recovery has faltered, some economists claim. For example, in California there is no requirement for a... Continue Reading »
