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[20] [21] Since the 2010 crisis, 62 million mortgages are held in the name of MERS, [22] and MERS has initiated thousands of foreclosures in the United States, claiming to be the mortgagee of record. Lawyers have contended in court that MERS has no legal right to initiate a foreclosure, because MERS does not own the loans in question.
Citigroup (C) has announced a pilot program called the Citi Foreclosure Alternatives Program that will allow CitiMortgage borrowers to avoid foreclosure and remain in their homes for six months ...
The National Community Stabilization Trust (NCST or Stabilization Trust) is a Washington, D.C.–based non-profit organization that facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations to promote property reuse and neighborhood stability.
WASHINGTON -- Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season. The New York-based bank said Thursday the ...
Over four days, its available cash declined from $18 billion to $3 billion as investors pulled funding from the firm. It collapsed and was sold at a fire-sale price to bank JP Morgan Chase March 16, 2008. [33] [34] [35] American homeowners, consumers, and corporations owed roughly $25 trillion during 2008.
In these so-called zombie foreclosures, borrowers move out of their homes after their bank schedules a. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800 ...