MONDAY, JANUARY 7, 2013

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HOMEOWNERS NEWS

ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Who Is Representing The Homeowners At the Negotiating Table? Regarding banking regulators being close to a $10 billion settlement with 14 banks that would end the governments efforts to hold lenders responsible for foreclosure abuses;

PERHAPS; Pursuant to the Consumer Financial Protection Bureau (CFPB) Charter of the Consumer Advisory
Board, Page 5, 7 Committees;

May a new Committee be immediately established to research, review and advise regarding concerns for consumers, related to any proposed settlement of the Independent Foreclosure Reviews, that were ordered on April 13, 2011 by the Office of the Comptroller of the Currency, by the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision;

CA Appeals Court Enjoins Nonjudicial Foreclosure For Lenders Failure To Comply With HUD Servicing Requirements The court also held that tender was not required, because the borrowers were seeking to enjoin a pending foreclosure sale based on the lenders failure to comply with the HUD servicing requirements. Concurring with those courts that distinguish an offensive action from a defensive action, the court explained that the borrowers had no private right of action.

Surprise, Surprise: The Banks Win IF you were hoping that things might be different in 2013 you know, that bankers would be held responsible for bad behavior or that the government might actually assist troubled homeowners you can forget it. A settlement reportedly in the works with big banks will soon end a review into foreclosure abuses, and it means more of the same: no accountability for financial institutions and little help for borrowers. Last week, The New York Times.

Housing Problems: Where To Get Help Alys had this additional advice for those with foreclosure and mortgage modifications issues: Often what people need the most is to try to get a modification and to get help figuring it out. Housing counselors and attorneys: For housing counselors, in general the best option is a HUD certified housing counseling agency. Heres the HUD webpage with the listings.

NAACP Joins in Bayview Anti-Foreclosure Protest San Francisco NAACP officials are joining antiforeclosure activists working on behalf of homeowners facing eviction. For the first time on Thursday, members of the civil rights group took part in a protest at a Wells Fargo in the city's Bayview neighborhood. Archbishop Franzo King of the Saint John Coltrane African Orthodox.

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Housing

Six Reasons to Fear the Overhang of Unsold Houses The huge shadow inventory of unsold homes doesnt seem to scare people the way it used to. Home prices are rising and builders are ramping up production. The number of properties for sale is the smallest in a decade. In an excellent article on Nov. 29, Bloombergs John Gittelsohn and Prashant Gopal reported that some housing doomsayers are recanting their words.

In July 2007, a Minnesota landlord arranged to show a duplex to a potential renter. But when she arrived at the rental and saw the prospective tenant was black she refused to get out of her car. No way, its not for rent. I cant do this Im not renting to these kinds of people, the landlord said, according to an investigation of the incident by the U.S. Department of Housing.

Stench Rises on Rumored $10 Billion Settlement to End Wall Street Foreclosure Fraud Investigation In April 2011, the Office of the Comptroller of the Currency (OCC), the top regulator of national banks in the U.S., signed consent orders with 14 of the largest banks and mortgage servicers requiring that they hire independent consultants to review 2009 and 2010 foreclosure actions to determine financial injury to borrowers and provide financial compensation for that injury. Borrowers that suffered injuries were to receive financial awards up to a maximum of $125,000 under these consent orders.