January 2016

Twelve-Year-Old Shot by Police in Foreclosure Confrontation

January 21, 2016 The Housing Justice Foundation

From The Guardian:

A police constable in Pennsylvania killed a 12-year-old girl when he fired a shot at the girl’s father that passed through the man’s arm and hit her, officials said on Tuesday.

Ciara Meyer was pronounced dead at her home on Monday morning after Constable Clarke Steele attempted to “enforce an eviction order” on her family in Duncannon, north of Harrisburg, according to officials.

[Read More]

The Latest Goldman Sachs Settlement

January 15, 2016 Lynn Szymoniak

Goldman Sachs announced on January 14, 2016 that it will pay approximately $5 billion to settle federal and state investigations of its mortgage-related practices in the years before the financial crisis of 2008. Goldman will pay $2.39 billion in civil monetary penalties, $875 million in cash payments and provide $1.8 billion in consumer relief in the form of mortgage forgiveness and refinancing.… [Read More]

The 2015 Housing Market

January 14, 2016 Lynn Szymoniak

In 2015, the home ownership rate in the U.S. reached a 40-year low at 63.4%.

Only 32 percent of home buyers in 2015 were first-time buyers, the lowest percentage since 1987, and the third straight annual decline. (Laura Kusisto, The Wall Street Journal, November 5, 2015)

While wages were stagnant, rents increased.… [Read More]

Carbon Monoxide Awareness

January 13, 2016 Mark Cullen

Long-time foreclosure activist Donna Imbierowicz is working hard to raise awareness about the dangers of Carbon Monoxide following the death of her child.

For more information, visit www.CMIawareness.org

From Chester County Press:

In the wake of Carly’s death, the Imbierowicz family has been embraced by the people of Saint Malachi of Doe Run and the OLC Parish, and Donna remains strong in her faith.

[Read More]

Movie Review: The Big Short

January 13, 2016 Lynn Szymoniak

The Big Short is a movie worth seeing, if only to get a good explanation of CDOs Squared and Synthetic CDOs. There are better reasons. The acting is outstanding. Steve Carell and Christian Bale deserve the widespread praise they have received and the nominations.… [Read More]

Dual Tracking Amicus Briefs

January 5, 2016 The Housing Justice Foundation

Dual Tracking, which occurs when a mortgage servicer continues to pursue foreclosure even after loan modification negotiations with the homeowner have begun, remains a destructive and wide-spread industry practice. While the loan modification process can result in mortgages avoiding default, it is too often the case that homeowners find themselves caught between two departments of the same servicer, leading to uncertainty and miscommunication.… [Read More]