Two California men have been convicted of filing fraudulent bankruptcy petitions on behalf of Kansas homeowners who were behind on their mortgages and in danger of losing their homes to foreclosure, according to a U.S. Department of Justice press release (“Los Angeles Men Convicted On Charges Of Filing False Claims In Kansas Bankruptcy Courts,” Jan. 20, 2009). (more…)

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A California woman behind a real estate ponzi scheme that deceived both investors and homeowners has been sentenced to 12 years in prison and ordered to pay an $8.5 million fine, according to a U.S. Department of Justice press release (“Woman Who Promised to Help Homeowners Avoid Foreclosure Sentenced to Over 12 Years in Prison for Taking Millions From Investors in Fraudulent Scheme,” Jan. 20, 2009). (more…)

Popularity: 3% [?]

In an effort to speed up the short sale process and help homeowners avoid foreclosure, mortgage giant Fannie Mae has begun a three-month trial program that allows the company to pre-approve the “short sales” of homes, reports The Wall Street Journal (“Fannie Mae Tests ‘Short Sales’ as Alternative to Foreclosures,” Jan. 9, 2009). (more…)

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Mortgage giant Fannie Mae — in what may be the first effort of its kind to provide relief for renters swept up in the foreclosure crisis — may soon become one of the nation’s largest landlords (“Fannie Mae Allows Renters to Stay,” The New York Times, Dec. 15, 2008). (more…)

Popularity: 3% [?]

Half of all troubled homeowners face foreclosure only six months after lenders reduce their monthly mortgage payments, said a top banking regulator when commenting on the state of the housing crisis (“Homeowners Re-defaulting After Getting Aid,” Reuters, Dec. 8, 2008). (more…)

Popularity: 4% [?]