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HUD announces disaster assistance for New York storm victims
U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan has announced that HUD will speed federal disaster assistance to three western New York counties and provide support to...
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Bank of America introduces earned principal forgiveness program to help curb...
Bank of America announced that it will look first at principal forgiveness, ahead of an interest rate reduction, when modifying certain sub-prime, pay-option and prime two-year hybrid mortgages...
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FTC shuts down foreclosure "rescue" company
The Federal Trade Commission (FTC) has put a permanent stop to another mortgage foreclosure “rescue” operation that allegedly promoted bogus loan modification and foreclosure relief services. The case...
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Bank of America begins principal reduction enhancement under Obama's NHRP
Bank of America has begun implementation of an earned principal forgiveness approach to modifying certain loans eligible for its National Homeownership Retention Program (NHRP). The plan is being...
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California AG wins $1 million for victims of foreclosure rescue scam
California Attorney General Edmund G. Brown Jr. has announced a $1.1 million judgment against Los Angeles attorney Mitchell Roth after he conned 2,000 desperate homeowners into paying him thousands of...
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GMAC and Bank of America Foreclosures Temporarily Halted in Maine
Janet Mills, Attorney General for the state of Maine has announced that both GMAC Mortgage and Bank of America have agreed to stop foreclosures temporarily in the state. This announcement comes just as...
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FTC Fines and Bans Six for Foreclosure Relief Violations
Six defendants have agreed to settle Federal Trade Commission (FTC) charges that they participated in a fraudulent mortgage modification and foreclosure relief scheme. The settlement orders require...
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FHA Extends Foreclosure Relief to Disaster-Stricken Areas
The Federal Housing Administration (FHA) has published Mortgagee Letter 2012-23 to help families with FHA-insured mortgages struggling to repair or rebuild their homes in the wake of major disasters...
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