Thousands of foreclosure victims from 2009 and 2010 will receive anywhere from a few hundred dollars up to $125,000 in compensation as the result of large banks settling charges of foreclosure abuses, including filing false…
by Paul Kiel Rebecca Mairone, then at Bank of America, testifies to the Housing and Community Opportunity Subcommittee in Washington, D.C., on Nov. 18, 2010. Mairone now heads JPMorgan Chase’s involvement in the Independent Foreclosure…
(Image: The Associated Press) by Paul Kiel The Obama administration launched its main program to prevent foreclosures in the spring of 2009 with $50 billion and abundant promises. What the Home Affordable Modification Program, or…
Written by Jesse Eisinger Freddie officials wanted to protect the company’s bottom line and some sought to nix a backdoor economic stimulus. The consequence: Homeowners stayed trapped in high-rate loans. (Win McNamee/Getty Images) Freddie Mac,…
(File, Justin Sullivan/Getty Images) by Paul Kiel The idea behind the Independent Foreclosure Review seems simple. During the peak of the foreclosure crisis, the banks broke laws and made errors that hurt homeowners. In response,…
Connecticut Attorney General George Jepsen said today that payment claim forms are going out to thousands of Connecticut borrowers whose homes were lost to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, and who…
When considering buying a condo in a small complex, keep in mind the fewer the units the more potential there is for nightmares. On the surface, everything may look fine in a complex with fewer…
Foreclosure Fail: Study Pins Blame on Big Banks A study by government and academic researchers finds that approximately 800,000 homeowners missed out on mortgage modifications because of big banks’ poor performance. (David Zalubowski/AP Photo) Written…
The arraignment for three Shelton condo owners accused of stealing financial documents from the property manager of their complex whom they were investigating for incompetence and double billing was delayed Thursday until later in the…
Standing on principle is an admirable trait. But it’s a losing strategy when you use it as the reason to withhold payment of your condo maintenance fee or fine. Let’s just say it’s like playing…
Gov. Dannel P. Malloy Friday vetoed House Bill 5511 that would have given more power to unit owners at the Heritage Village complex over their annual budget because he said the legislation would have taken…
FTC Action Halts Alleged “Forensic Audit” Scam that Targeted Consumers in Danger of Losing Their Homes Forensic Mortgage Loan Audit Scams: A New Twist on Foreclosure Rescue Fraud At the request of the Federal Trade…
Connecticut Governor Dannel P. Malloy has signed a bill that requires condo property managers to be certified, and blocks associations from prohibiting owners from placing religious symbols on their doors. The bill, 5536 requires condo…
The Connecticut General Assembly passed two important bills late last night that will help protect condo owners as well as make condo associations more democratic. The two bills – 5511 and 5536 – have been…
We talk a lot about the aging population in Connecticut in this column – how we face the same issues as the rest of the nation, and how we sometimes differ – but there is…
At the request of the Federal Trade Commission, a federal court has imposed a court order with a $3.89 million judgment against defendant Samuel Paul Bain and three of his companies for their role in…
As a former owner of two time shares from my younger, ignorant years, I am stunned by the latest statistics on the industry and the poor owners who are trying to sell theirs for $1….
Thousands of consumers who got sucked into buying timeshares are trying to dump them to stop the steep annual maintenance fees on properties that are no longer attractive to them. Knowing there are these desperate…
“A condominium owner in Stratford has been told by her condo association that she must remove the mezuzah from her doorpost,” according to the Jewish Ledger. “The California Condo Association has asked condo owner Barbara…
In addition to participating in the $25 billion foreclosure settlement, Citigroup will pay $158 million to settle civil accusations that it defrauded the U.S. Department of Housing and Urban Development by falsely claiming that high…