Monthly Archives: October 2010

Bank of America needs weeks to untangle its foreclosure mess

By doug | Published: October 15, 2010

On Friday, Bank of America became the first major US bank to suspend foreclosure sales in all 50 states after questions were raised about whether it and other banks had illegally seized homes without the proper documentation. In a deposition filed in a Massachusetts lawsuit, a Bank of America official said she signed as many […]

Posted in Bankruptcy News, Foreclosure | Comments closed

Bankruptcy lawyers buzzing over foreclosure revelations

By doug | Published: October 14, 2010

The news wires are just packed with stories on foreclosures lately. In just a small sampling: * All 50 state attorney generals appear to be circling the wagons around the large banks, questioning their handling of residential foreclosure procedures; * Syndicated columnist Candice Choi raises the spectre of disbarred lawyers trying to scam homeowners based […]

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Debt settlement firms face new rules

By doug | Published: October 12, 2010

As outlined by nationally syndicated columnist Michelle Singletary, debt settlement companies are already facing new rules from federal regulators concerning their practices. New rules require debt-relief companies to make specific disclosures, such as how long it will take to get results, how much the service will cost, and the potential negative consequences. The firms are […]

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Bankrupt Texas Rangers rise and surprise

By doug | Published: October 8, 2010

Baseball’s Texas Rangers have been the only North American sports team to file for bankruptcy recently, and I have been following their exploits, both in the courtroom and on the field, over the summer. The Rangers are shaping up as an ideal bankruptcy redemption story, as they have just clinched the American League’s West Division […]

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Update on new Massachusetts foreclosure program

By doug | Published: October 7, 2010

The forms needed to apply for HUD’s new zero-interest foreclosure prevention loans for the unemployed will not be available until later in the year. In anticipation of the new program, this would be a good time to get your financial house in order, though. Excessive non-mortgage debt is one of the disqualifying factors for the […]

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new program to help unemployed homeowners in massachusetts

By doug | Published: October 6, 2010

Yesterday the federal Department of Housing and Urban Development unveiled a new program designed to help unemployed homeowners stave off foreclosures. Unlike many prior programs, this one has the look of something that might work, and it will soon be available here in Massachusetts. Unemployed homeowners may be able to borrow up to $50,000 to […]

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