Money and Finance
In a Sign of Foreclosure Flaws, Suits Claim Break-Ins by Banks
When Mimi Ash arrived at her mountain chalet here for a weekend ski trip, she discovered that someone had broken into the home and changed the locks.
When she finally got into the house, it was empty. All of her possessions were gone: furniture, her son’s ski medals, winter clothes and family photos. Also missing was a wooden box, its top inscribed with the words “Together Forever,” that contained the ashes of her late husband, Robert.
The culprit, Ms. Ash soon learned, was not a burglar but her bank. According to a federal lawsuit filed in October by Ms. Ash, Bank of America had wrongfully foreclosed on her house and thrown out her belongings, without alerting Ms. Ash beforehand.
In an era when millions of homes have received foreclosure notices nationwide, lawsuits detailing bank break-ins like the one at Ms. Ash’s house keep surfacing. And in the wake of the scandal involving shoddy, sometimes illegal paperwork that has buffeted the nation’s biggest banks in recent months, critics say these situations reinforce their claims that the foreclosure process is fundamentally flawed.
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Public Information And Libor Manipulation
Thanks to Bill for passing this along. It appears the Libor Manipulation story has a lot more to it than just the recent headlines. On August 25, 2011, Charles Schwab Bank and Charles Schwab Corporation filed suit alleging 12 banks conspired to manipulate...
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Special Report: The Watchdogs That Didn't Bark
Found via The Big Picture. (Reuters) - Four years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges around the country are pointing fingers at possible wrongdoing....
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Short Sales Resisted As Foreclosures Are Revived
Bank of America and GMAC are firing up their formidable foreclosure machines again today, after a brief pause.But hard-pressed homeowners like Lydia Sweetland are asking why lenders often balk at a less disruptive solution: short sales, which allow owners...
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Weekly Roundup - September 7, 2013
Another week down and my wife and I are that much closer to closing on our house. My coordinator the job that I'm on right now has got a replacement for me to come out today so I can be home to close on the house on Monday. It'll be a big...
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Recent Transactions
I'm a little behind on this mainly because I was busy with work and getting to come home. Then I forgot until today that I hadn't made a post about this. On 3/27/12 I purchased 2 contracts of the BAC Jan 18 2014 Call Option for $2.11, so after...
Money and Finance