The federal mortgage modification program was targeted for criticism as a failed program as the procedural issues are hampering the foreclosure process nationwide, while foreclosures on defaulted mortgage loans declined.
Some signs of recovery appeared in the sphere of the housing market. Fewer US home loans are going delinquent and the rates of new problem loans are declining.
At noon on January 14th, at Mission and 16th Street, tenant and housing groups will team up with OccupySF to expose the collusion between real estate speculators and banks that threatens thousands of San Franciscans with eviction.
I suppose it is now safe to reveal that a staffer of Representative Marcy Kaptur put me on the trail of this fraud-in dollar terms it has to be the single biggest fraud in human history. In sheer utter disregard for law it is certainly the most audacious fraud in Western history.
Bank of America became a target of the Federal Reserve for the mortgage bounds being considered as the worst national offender and the state of Arisona now steps in on behalf of its homeowners. A lot of American families were led to foreclosure expecting the mortgage loan modification promised by banks.