Million-Dollar Home Defaults: Just What the Doctor Ordered" alt="Million-Dollar Home Defaults: Just What the Doctor Ordered" />

When Junaid Nazeer's wife, Neelofur, lost her job as a pathologist for a private medical lab her income plummeted from $400,000 to just about one-fifth of that. Now Neelofur is working through a fellowship to be a pathologist in a hospital environment. In November 2010, six months after she lost her job, the Chicago couple ... Continue Reading »

Boosting a Bad Credit Score to Buy a House" alt="Boosting a Bad Credit Score to Buy a House" />

Heather and her husband got caught up in the neverending downward spiral of taking payday loans to pay off payday loans. Each time they got a paycheck they had to use the check to pay off the interest on those loans and then didn't have enough to pay their utility and other bills. Finally, they realized they were in over ... Continue Reading »

Fannie Mae, Freddie Mac Stick Taxpayers With Legal Bill" alt="Fannie Mae, Freddie Mac Stick Taxpayers With Legal Bill" />

Since the government took over Fannie Mae and Freddie Mac, taxpayers have been on the hook for $410.7 million in legal expenses, according to Rep. Randy Neugebauer (R-TX), chairman of the oversight subcommittee. Of those expenses $162.4 million have been spent defending the two entities and their former executives for ... Continue Reading »

'Mortgage Fraud Factory' Whirs Down With 10 Arrests" alt="'Mortgage Fraud Factory' Whirs Down With 10 Arrests" />

Federal authorities called Crisp & Cole Real Estate a "full-service mortgage fraud factory" at a press conference on Friday when the 56-count indictment was unsealed. Indeed, people will spend years recovering from the financial damage caused by Crisp & Cole Real Estate, whose owners were arrested Thursday on ... Continue Reading »

Communities Fight Back After Banks Walk Away" alt="Communities Fight Back After Banks Walk Away" />

People aren't the only ones walking away from underwater mortgages. Banks are walking away, too. Communities are fighting back to regain control of their neighborhoods. Some by forcing banks to terminate mortgages. Others by purchasing the homes abandoned by banks, fixing them up then renting or selling them. A ... Continue Reading »