February 2012

Government Settles Foreclosure Dispute With Five Major Banks

February 21, 2012

The Wall Street Journal recently reported that the federal government finalized an agreement worth as much as $26 billion with Ally Financial, Wells Fargo, Bank of America, Citigroup, and J.P. Morgan Chase and Co.  The purpose of this agreement is to settle alleged foreclosure abuses by these lenders.  On the surface, this appears to be [...]

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Georgia Senate Approves Foreclosure Notification Bill

February 14, 2012

Can you imagine living in a state where a mortgage company could take your house away from you through foreclosure without you ever knowing about it?  Welcome to Georgia! Your mortgage company currently has no legal obligation to notify you of their intent to foreclose on your home.  However, in a recent online edition of [...]

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Asset Acceptance Gets Slapped With a 2.5 Million Dollar Fine By The FTC

February 7, 2012

Asset Acceptance was recently fined $2.5 million dollars because of their collection practices (click here to read an article in Business Week about this topic).  To the normal person, $2.5 million dollars is a tremendous amount of money but to a company that takes in over $100 million per year, this is just a small [...]

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