Category Archives: Law

Lawyers taking advantage of foreclosure mess

Attorneys are getting into mortgage modification schemes in unprecedented numbers says the Los Angeles Times. Lawyers are telling their clients they can help them modify their mortgages and charge them thousands of dollars without being much help in many cases. … Continue reading

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Fannie Mae Faces Serious Lawsuit

Report: A class-action lawsuit alleging securities fraud by the company could yield a hefty payment to shareholders. A vigorous defense on Fannie’s part would require rebutting the agency’s own report. Mr. Ajamie isn’t involved with the Fannie case. The Federal … Continue reading

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Lawyers Loving The Downturn

From the New York Times: Nothing makes lawyers more popular than bad times. Defense lawyers were gleeful. Individual shareholders as well as big companies want someone else to pay for their losses on investments in everything from basic stocks to … Continue reading

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607 Subprime-Related Lawsuits In America

From The Guardian: Lawyers are circling the carrion from the US financial crisis for a steady diet of lawsuits and litigation. Hundreds of lawsuits vying for “class action” status had been filed even before the latest downward spiral in the … Continue reading

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Local Governments Bailing Out Trouble Loans

William Yardley writes about local governments lending money to save people from foreclosure. Many wonder the government is bailing out the middle class? Why should tax payers subsidize the well off who make bad loan decisions? Seattle, which has nowhere … Continue reading

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U.S. Congress Considers Mortgage Bailout

The IHT reports that Uncle Sam might buy up to $15 billion worth of bad mortgages. The U.S. government might buy up to one million mortgages over five years to help reduce foreclosures and stablize lenders. The loans would be … Continue reading

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Change in bankruptcy laws pondered amid home mortgage meltdown

From KansasCity.com: WASHINGTON | After being hooked with ill-advised subprime loans on their homes, many thousands of Americans could end up gaffed in bankruptcy courts next year. Despite a new law to make filings more painful, bankruptcies surged by nearly … Continue reading

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