Big Banks Prepare for Major Rise in Foreclosures Ending 2010

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The Financial Crisis of 2008-09 brought the global economy and investors to its knees. Ten years on, we explore whether or not we learned any lessons.

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According to the Irvine Housing blog, Bank of America, which currently forecloses on 7,500 homes every month will see that number rise to 45,000 by December 2010 as one senior executive pointed.

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Well, if the second-mortgage foreclosure shell game they’re playing with homebuyers is any How does this shell game work, and why do big banks keep winning? Cenk Uygur breaks it down.

FHA eases new rule on collections accounts Where is Ellie Mae moving? Ellie Mae Moves into New Pleasanton Headquarters | Ellie Mae – The new Ellie Mae headquarters has 100,000 square feet of office space, more than twice the size of the company’s former Pleasanton offices. Ellie Mae’s staff has nearly doubled over the past three years, with more than half of its 685 employees based in Pleasanton.FHA plans to issue a new rule soon, individuals with the agency said, that addresses collection accounts and disputes separately rather than lumping them into a single standard. Meanwhile, if you plan.

In the resulting settlement, the bank agreed to new loan terms that cut the Miser’s monthly payments by roughly 15 percent, paid their legal fees and stopped the foreclosure. "I did not want to.

There have been a lot of accusations on the blogs and on the air that banks are holding on to REO (bank-owned) foreclosed properties because they don’t want to put them on the market and push home.

Great Recession in the United States. According to the Department of Labor, roughly 8.7 million jobs (about 7%) were shed from February 2008 to February 2010, and real GDP contracted by 4.2% between Q4 2007 and Q2 2009, making the Great Recession the.

Is Bank of America preparing for a Chapter 11?. Truth is that the big bank’s cartel control in payments is under assault by more than Congress.. They’re ending the Federal Reserve and the Bank Holding Company Act in one fell swoop. Time to be like James Brown and "Get on the good.

Fed Beige Book: Economic activity expanded in March, housing results mixed The beige book repeated that the economy continues to expand at a moderate pace, amid promises from the new administration to return the economy to 3% growth. It has been a busy week for Fed news.

"That’s the big bogey-bear staring us in the face," Bush said. "But when I ask banks about their commercial real-estate exposure, they all say the same thing — that they don’t have many major..