Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Friday, June 29, 2012
Homeowner Loan Mod 'Jerk-Around' To Cost BofA $300K; Amount To Grow To $900K Upon Bankster's Failure To Timely Cough Up The Cash, Fix Victim's Credit
In Beaumont, Texas, The Beaumont Enterprise reports:
A Jefferson County judge has sanctioned Bank of America $300,000 because of how it the company handled a Fannett woman's mortgage.
Trudie Crutchfield entered into several agreements with the mortgage company to catch up on her payments after Hurricane Rita. The company, though, did not hold up its end of the deals, her attorney, Wyatt Snider said, and started foreclosure proceedings against her home. The company also allowed the information to go on her credit report.
After three lawsuits against Bank of America to stop the foreclosure, Judge Bob Wortham of the 58th District Court ordered the company to pay Crutchfield $300,000.
The company must pay within 30 days or the amount doubles. Also, if the company does not fix Crutchfield's credit within 90 days, the company must pay an additional $300,000.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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