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Modifications

BUSINESS
August 29, 2012 | By Jim Puzzanghera, This post has been corrected. See the note below for details.
WASHINGTON -- The nation's largest banks have provided nearly 140,000 homeowners with a total of $10.6 billion in relief under a $25-billion national settlement reached in February, the monitor for the agreement said Wednesday. The largest category of relief was in short sales, in which the banks forgave about $8.7 billion in first- or second-mortgage debt to allow the borrower to sell a home for less than what is owed. The report showed that Bank of America Corp. faltered in one key area of the settlement, completing no modifications of first mortgages from March 1 to June 30, the period covered in the first status report released by the Office of Mortgage Settlement Oversight.
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BUSINESS
August 29, 2012 | By W.J. Hennigan
Interested in upgrading the performance of your 662-horsepower Cobra with Shelby American Inc.'s stamp of approval? Now there's a place here on the West Coast to take care of that. Galpin Auto Sports in Van Nuys announced Wednesday that it has entered into an agreement with Shelby American to become an authorized Shelby modification shop. The only other certified mod shop is in Rhode Island. Now that Galpin is an authorized Shelby Mod Shop, it can take any Shelby car, upgrade its performance or styling and the work will be endorsed by Shelby American.
NEWS
July 29, 2012 | By Stuart Pfeifer
Here is a roundup of alleged cons, frauds and schemes to watch out for. Retirees bilked - A former Central California life insurance agent has been sentenced to six years in jail after her conviction on four charges of stealing from an elderly person, the California Department of Insurance said in a news release. Sharon Harrelson, 55, of Clovis was arrested after a two-year investigation by the Department of Insurance and sheriff's deputies in Fresno and Madera counties. Authorities said she defrauded customers of an insurance agency where she worked as an agent, telling them they needed to pay her a service fee that she was not entitled to collect.
NEWS
June 30, 2012 | By Mimi Pond
"In our house, we don't like thrill rides," says Mimi Pond in her latest installment. "Thirty years of self-employment is thrill enough. " She goes on to show bits and pieces of her frugal lifestyle. And yet, she says, "We're still having trouble making ends meet. It's pathetic!" What follows is her quest for a mortgage modification. Note: To enlarge the cartoon, select the control and plus-sign keys at the same time.  ALSO: Photo gallery: Ted Rall cartoons The Supreme Court saved my lifeline Healthcare ruling gives GOP an 'It's.
NEWS
May 19, 2012 | By Jon Healey
Should federal officials lecture state lawmakers on policy? The general counsel for the Federal Housing Finance Agency, the regulator overseeing Fannie Mae and Freddie Mac, certainly seems to think so. At issue are two bills backed by California Atty. Gen. Kamala Harris to set new rules for the foreclosure process. The bills ran into stiff opposition from lenders, so the top Democrats in the Assembly and state Senate moved them to a conference committee in the hope of working out a compromise that could keep them on track.
BUSINESS
May 7, 2012 | David Lazarus
This is a story of persistence. In the case of Miriam Ramirez, it's the story of trying to obtain a much-needed loan modification from Bank of America. In BofA's case, it's the story of giving a mortgage customer the runaround for two years . Loan modifications have been an increasingly nettlesome issue as millions of homeowners struggle to make mortgage payments during the economic slump. The Obama administration has called upon banks to be more diligent in assisting customers prior to foreclosing on properties.
BUSINESS
April 5, 2012 | By Tiffany Hsu, Los Angeles Times
Three California companies offering auto loan modifications were sued by the Federal Trade Commission, which accused them of deceiving consumers with false promises. Hope for Car Owners in Folsom, Kore Services in San Diego and Nafso VLM in Roseville charged clients hundreds of dollars in upfront fees to obtain car loan modifications, according to the FTC. But the firms allegedly did not fulfill their agreements to get the modifications and refused to give full refunds as advertised.
BUSINESS
April 4, 2012 | By Tiffany Hsu
The Federal Trade Commission filed a lawsuit accusing several California auto loan modification operations of deceiving consumers with false promises and then leaving their cars to be repossessed. The agency alleged that Hope for Car Owners in Folsom and Kore Services in San Diego charged clients hundreds of dollars in up-front fees for help obtaining car loan modifications, but then did nothing and refused to provide the full refunds they had advertised. The FTC also said it filed suit against individual participants Patrick Freeman from Hope and Michael Kamfiroozie and Naythem J. Nafso of Kore, which conducted business as Auto Debt Consulting.
BUSINESS
April 3, 2012 | By Stuart Pfeifer, Los Angeles Times
Here is a roundup of alleged cons, frauds and schemes to watch out for. Beauty queen — Prosecutors in Santa Clara County have accused a former Mrs. Pakistan World of enticing desperate homeowners to pay her tens of thousands of dollars in a loan-modification scam. The Santa Clara County district attorney's office charged Saman Hasnain and her husband, Jawad, with 17 counts of grand theft, accusing them of bilking 17 homeowners, the San Jose Mercury News reported. In the scheme, prosecutors allege, Hasnain and her husband told homeowners that for an advance fee of at least $4,500, they would negotiate with banks to reduce the homeowners' mortgages and forgive overdue payments.
BUSINESS
March 25, 2012 | By Martin Eichner
Question: I manage an apartment community with 16 units. When one of our residents first moved into her apartment, she requested permission to install grab bars in the bathtub. She was disabled and needed these bars to be able to use the tub. She offered to pay the installation cost. I said yes, and we noted the grab bars on the rental agreement. Two years later, she gave her notice of termination. When we did the pre-departure walk-through, I asked her what she was planning to do about the grab bars.
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