4 On Your Side Tries To Help Family Save Their Home From Foreclosure (CBS Denver)
Charlene and Robert have been behind in their payments. They’ve been good customers, and yet they were told by Bank of America their home will go into foreclosure on Jan. 16 after trying to get their loan modified for well over three years… Charlene has taken copious notes. She has phone recordings of her conversations with Bank of America’s Home Mortgage Division. “Were on our 23rd negotiator,” she said. “We’ve applied 33 times.”
Foreclosure aid stalled as mortgage deadline looms (MSNBC)
As the seventh year of the foreclosure crisis began along with the New Year, 5.3 million U.S. homeowners remain behind on their payments… ProPublica mapped out how much each state has received along with the dollar amounts it has put towards its own housing recovery. The debt-ridden state of California received just over $410 million – but only 4% of that, or rather $18.4 million, has gone towards mortgage settlement efforts.
Realtors, underwater homeowners now seek state tax relief (Capitol Alert)
Congress gave a one-year reprieve to underwater homeowners this week by waiving taxes on forgiven mortgage debt as part of its “fiscal cliff” deal. Now real estate agents and homeowners are looking for California to follow suit.
Income Levels by Census Track (Rick Blocks, Poor Blocks)
Check out Oakland & Alameda.
Surprise, Surprise: The Banks Win (New York Times)
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.
If you can’t get through the NY Times paywall, google or search on Google News for “Surprise The Banks Win Gretchen Morgenson” and that should get you to the article.
A U.S. congressional oversight panel asked regulators to delay a multibillion dollar mortgage settlement with 14 large banks so that the lawmakers could review the deal, according to a letter made available on Saturday.