New Orleans It was bad enough when Wall Street sharpies like Blackstone started buying tranches of foreclosed houses in the suburbs to paint, rent, and then cash out. Now, algorithms are being deployed for house flippers. What could go right or wrong with this picture? A story in the Wall Street Journal claimed that …
Tag: phoenix
Hope for Frances Gomez and Other Foreclosure Victims
New Orleans I have often quoted a line by a former Republican OMB director that we should “never suffer from premature certainty,” and given the disaster that banks, the Treasury Department, the Bush and Obama Administrations, and the servicers have made of the housing crises and its millions of homeowner victims, I almost hesitate to …
Widespread Fraud at Bank of America
Orange Beach, Alabama Better late than never, the Attorney Generals of Nevada and Arizona sued Bank of America for “widespread fraud” on the bait and switch of promising that a loan modification is in progress and then foreclosing and selling the house out from under the homeowner at the same time. The Times and the …