Six Mass. banks fight foreclosure ordinances

BOSTON (AP) – A federal judge heard arguments wednesday in a lawsuit by six banks seeking to overturn two anti-foreclosure ordinances in Springfield, Mass. U.S. District Judge Michael Ponsor did.

Subprime Bloodletting Continues at Fitch However, Fitch continues to be concerned by the prevalence of missing DTI data. Fitch will use a default assumption for missing subprime DTI of 50%. 5) Removal of ‘pre-seasoning’ benefit: Fitch’s.What are we reading?  · Do your daily reading habits center around tweets, Facebook updates, or the directions on your instant oatmeal packet? If you’re one of countless people who don’t make a habit of reading regularly, you might be missing out. Reading has a significant number of.

The 41-year-old mother of three had lost her family home to foreclosure and argued that the bank that had purchased it was complicit in the housing crash that prompted tens of thousands of.

Fighting Bank of America and Foreclosure Delaying foreclosure: Borrowers keep homes without paying. –  · Delinquent borrowers facing foreclosure have discovered that they can stay in their homes for years without making mortgage payments — as long as they’re willing to put up a fight.

Forecast: More Than 8 Million Foreclosures By 2012 As part of the deal, about 1 million homeowners could also get the principal amount of their mortgages written down by an average of $20,000. One in four homeowners with a mortgage – or roughly 11 million people – owe more than their home is worth. These so-called "underwater" borrowers have little chance at refinancing.

Windy City Times sat down with Fioretti to discuss. They’ve never raised an issue about how the banks have really taken advantage of our communities, and led to all the foreclosures. About the.

McLaurin told me he looks for people in dire straits by sending out mass mailings to addresses that appear on lists of bank. because a six-year statute of limitations has expired. “The system is.

BOSTON – A group of Western Massachusetts banks argued before the state’s highest court on Thursday that the city of Springfield’s anti-foreclosure ordinances should be overturned. The banks say the local ordinances contradict state laws, and a bond levied on lenders constitutes an illegal tax.

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A group of seven Massachusetts community banks has sued the cities of Worcester and Lynn in federal court, claiming anti-foreclosure ordinances issued after the housing crisis place unfair burdens.

WASHINGTON( — The Federal Reserve on Tuesday proposed a much stricter set of rules for mortgage lenders as part of the central bank’s effort to avert. One reason for the spike in.

Former Bank of america employees gave sworn statements that the bank lied to homeowners, denied loan modifications for bogus reasons and rewarded employees for sending homeowners to foreclosure.

A Charlotte Observer investigation found that rents and home prices soared in Charlotte over the past six years as corporate ownership. “Mel Watt has never failed to fight on behalf of homeowners.

The Massachusetts Supreme Judicial Court ("SJC") recently issued another decision affecting the foreclosure of mortgages in Massachusetts. In Easthampton Savings Bank v. City of Springfield, No. 11612, slip op. (Mass. Dec. 19, 2014), the SJC struck down two mortgage ordinances adopted by the City of Springfield ("City") in 2011, holding.