A federal judge has ruled that Bank of America Corp cannot have a lawsuit by investors seeking to force it to buy back mortgages heard in federal court, saying he lacks jurisdiction to decide the case. Tuesday’s ruling by Judge Richard Holwell of the U.S. District Court in Manhattan means the case will move to [...]

Banks Fail To Modify Mortgages - Homeowners tell how firms failed to redo home loans

By Kevin G. Hall
McClatchy Newspapers

Nearly three years into the deepest U.S. housing slump in generations, lenders are modifying only a small number of problem mortgages, and rising foreclosures are retraining the economy’s recovery.

The Obama administration has stepped up pressure on lenders [...]

Nevada recently passed a bill that requires all lenders to appear for mediation prior to foreclosing on a property. The bill has now been utilized to force lenders to the mediation table before they foreclose.

The Nevada Foreclosure Mediation Program has received its first three requests for mediation as the homeowners work to save their [...]