February 15, 2012 |
Borrowers seeking a review of their foreclosures for errors committed by banks have been given an extra three months to apply for the free federal program, which may result in compensation. Federal bank regulators said in a statement Tuesday that they have moved the deadline to July 31 from April 30 this year to encourage greater participation in the independent foreclosure review program. Borrowers are eligible if the property in question was their main home, was anywhere in the foreclosure process during 2009 or 2010, and was foreclosed on by one of 14 financial firms that settled a bank regulator investigation into their foreclosure practices last April.
March 12, 2012 |
State and federal officials on Monday formally filed the $25-billion settlement with the nation's biggest mortgage servicers. The lengthy documents outlining the terms of the landmark settlement were filed in U.S. District Court in Washington, formally ending investigations by the Justice Department, Housing and Urban Development Department and attorneys general in 49 states into botched foreclosure paperwork and mortgage servicing problems....
December 13, 2009 |
If you're in trouble on your mortgage and can't get a loan modification, check out the Obama administration's standardized short-sale plan that's scheduled to roll out in the next several months. The program, outlined Dec. 1 by the Treasury Department, is an attempt to streamline what has traditionally been a contentious, time-consuming process by requiring lenders and others to use nationally uniform documents, timelines and financial incentives. A short sale involves a lender or investor agreeing to collect less than the balance owed on a mortgage debt out of the proceeds of a negotiated sale of the property.
CALIFORNIA | LOCAL
July 17, 2012 |
For Mary Sanchez, the vacant, foreclosed home across from hers on Abner Street in El Sereno was an assault on the senses and her piece of mind. Gang members and squatters used it as a stash house. The place stank of dead animals. Mice made constant incursions from across the way onto her property, prompting her to get cats to head them off. Weeds in the yard reached as high as her chest. "It was embarrassing," she said. "When people would come over I would say, 'Look for the ugly house with all the stuff in the lawn.
April 4, 2009 |
A snapshot of the reeling mortgage industry, released Friday by federal bank regulators, illustrates the challenges the Obama administration faces with its $95-billion plan to help lower mortgage payments for struggling borrowers. In the last three months of 2008, most troubled borrowers were being offered not true modifications but breathers on payments followed by a resumption of the original mortgage terms, or even higher payments.
February 17, 2010 |
Nineteen months ago, the recession took Bob Walker's job. Then, creditors lined up to take the three-bedroom hilltop home that the computer consultant shared with his wife, Stephanie, a playwright still looking for her first break. Avoiding the stigma and financial fallout of foreclosure became an obsession for the Walkers. They talked to the banks, found multiple jobs, put their Silver Lake house on the market and tried to stitch together a plan to repay their debts. Finally, they turned to a short sale, chronicled in a popular blog: Love in the Time of Foreclosure.
CALIFORNIA | LOCAL
April 12, 2007 |
Rapper-actor Snoop Dogg will avoid jail time after pleading no contest Wednesday to two felony charges -- but he might be legally allowed to continue smoking marijuana. The entertainer, whose real name is Calvin Broadus, entered the plea to a charge of gun possession by a convicted felon and a marijuana-related drug charge, prosecutors said. Dogg, 35, appeared before Los Angeles County Superior Court Judge Terry Smerling in Pasadena clad in a leather jacket, black jeans and a T-shirt.
CALIFORNIA | LOCAL
September 27, 2010 |
It was so hot Monday that it broke the all-time record — and the weatherman's thermometer. The National Weather Service's thermometer for downtown Los Angeles headed into uncharted territory at 12:15 p.m. Monday, reaching 113 degrees for the first time since records began being kept in 1877. Shortly after that banner moment, the temperature dipped back to 111, and then climbed back to 112. Then at 1 p.m., the thermometer stopped working. The weather service office in Oxnard rushed an electronics technician 60 miles southeast to the USC campus to repair the thermometer, which is actually a highly sensitive wire connected to electronic equipment.
June 29, 2008 |
If you're facing years of student loan payments but aren't making much money because you're working in public service, the federal government has some good news for you. A law that takes effect Tuesday could allow you to have some of your college debt forgiven.
March 14, 1997 |
For the first time in its 150-year history, the U.S. Postal Service is straying from the traditional square/rectangular stamp format to introduce a line of 32-cent triangular stamps, officials announced Thursday. The stamps, named Pacific 97 after a major international stamp show scheduled for May in San Francisco, feature a mid-19th century clipper ship against a blue background in one version and a U.S. mail stagecoach against red in another. They go on sale throughout the nation today.