Curt Maly's (curtmaly) Blog

Troy Taliancich said he applied for a mortgage modification via the Obama administration's Making Home Affordable HAMP program in January after falling behind on his payments by one month and the results have been disastrous. Getting help was a snap: He called up Bank of America and explained tha...

Blatant Foreclosure Fraud   More Americans lost their homes to foreclosure in August of 2010 than in any other month on record, as banks repossessed 25 percent more homes that month than in August of last year. Yet the more homes that banks are taking back, the more we are uncovering blatant acts...

Nov 17 2010. Bank of America’s foreclosure processes are designed to protect shareholders – CEO Moynihan claims. As one of the major banks under siege by investors over the nation’s current foreclosure crisis, Bank of America CEO Brian T. Moynihan took steps today to try to calm the fears of its...

More Americans lost their homes to foreclosure in August than in any other month on record, as banks repossessed 25 percent more homes that month than in August of last year. Yet the more foreclosures they perform, the more we are uncovering blatant acts of fraud in their behavior. This all start...

A contractor for JPMorgan Chase changed the front door lock on a woman’s home in Orange County, Florida, as she hid out of fear in her bathroom, Eyewitness News reports. The woman, Nancy Jacobini, was reportedly three months behind on her mortgage and her home was reportedly in foreclosure, but, ...

According to the Phoenix Business Journal, 2 out of every 3 homeowners are underwater on their mortgage payments, meaning that they owe more than their houses are worth. This 67% rate is much higher than the national rate of 21%.   While there are certainly better alternatives to foreclosure, ma...

A loan modification, according to loanmortgage.com, is when a lender agrees to modify the terms of a mortgage to make it more manageable for a financially stressed homeowner. It may involve reducing the interest rate, extending the term of the loan, restructuring the payment schedule or other adj...

Many homeowners in today’s tough economy have to make hard choices. One of the most difficult decisions for homeowners suffering from job loss or extra expenses is whether or not to continue making payments on their houses. The impact of one’s credit score can play a part in this decision. In the...

CNN Money wrote an article detailing that 3 out of 4 modified loan modifications are expected to default within the next 12 months. The theory of loan modifications was flawed to begin with. It seemed popular to blame unscrupulous loan originators, greedy Realtors, or ignorant home owners getting...

Many homeowners are going through an unprecedented tough time in Phoenix, AZ due to double digit unemployment and crashing house prices. Struggling homeowners having a hard time paying their mortgage every month want to know when this hardship will end. The answer, unfortunately, may not be anyti...