Tuesday, February 14, 2012
Announced on February 9, 2012, the $25 billion dollar National Mortgage Settlement Agreement is expected to benefit distressed homeowners in 49 states.
Last week President Obama announced the passing of the largest federal and state civil settlement in a decade. A $25 billion federal-state mortgage servicers settlement, between government officials, state attorneys general, and Bank of America, Citigroup, JPMorgan Chase, Wells Fargo and Ally Financial, was designed to help underwater and struggling homeowners who are upside down with their mortgage loans get back on their feet again and is projected to benefit nearly one million home owners. That number could increase if other mortgage servicers jump on board to be included in this settlement. Part of this settlement is a new set of banking guidelines that were written to prevent future abuses and bad practices that were, in part, …
Saturday, February 26, 2011
The defendants are indicted with the fraudulent acquisition of more than $47 million in mortgage loans for 22 residential properties in the Sarasota area.
On Friday afternoon Sarasota County Sheriff Tom Knight along with the FBI, FDIC and a United States attorney, announced the indictment of 14 individuals charged with 44 counts in a mortgage fraud conspiracy. The defendants are charged with the fraudulent acquisition of more than $47 million in mortgage loans for 22 residential properties in the Sarasota area. Knight said cases like this drive up area housing prices and tax bills. “Activity made a few players rich,” he said. “Banks, [and] citizens suffer the consequences.” This case, Knight said, involved an analysis of 200 mortgages and hundreds of interviews, reports and subpoenas. According to the indictment, the defendants’ activities spanned 10 years, between 1998 and 2008. The …
Friday, February 25, 2011
Each weekday, Sarasota Patch will give you a brief rundown of need-to-know information and events for the day.
1. At 1:30pm today, there will be a press conference at the Sarasota County Sheriff's Office to announce the unsealing of charges targeting a large-scale mortgage fraud conspiracy. 2.Twitter co-founder Biz Stone and Farm Sanctuary co-founder Gene Baur were at Marina Jack last night talking about farm animal protection and the vegan lifestyle. At the event, Mayor Kelly Kirschner presented Stone with a key to the city. 3. The Sarasota County Festival Steering Committee met Thursday in what can best be described as a chaotic meeting. Some members said they think the committee has a good business plan to present to the County Commissioners, but an art festival of this kind (with this type of funding) is not sustainable in Sarasota. 4. …
Sheryl Compton
8:39 pm on Monday, July 30, 2012
This is true I totally agree. They have to give the relief because the banks don't even want to be bothered with physical possession of all these homes. I'm praying and believing God for a real breakthrough that for a change benefits the working man or woman that just wanted to raise their families in a home. more ›