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Feature Article #1

Silence of the Lenders: Is Anyone Listening?

Loan Safe & Moe Bedard in the New York Times By Gretchen Morgenson
DAN A. BAILEY JR. was desperate when he sat down on May 19 to send an e-mail message to his mortgage lender, the Countrywide Financial Corporation, pleading, yet again, for help.
Behind on his payments and fearful of losing his home of 16 years [...]

Popularity: 16% [?]

Moe Bedard | July 13th, 2008 | Continued

Feature Article #2

Loan Modification Myths and Facts

There are a lot of myths surrounding lenders and servicers as to what they will and will not do during the loan modification process. 
The confusion and inaccurate data that is propagating the internet and the news is based on ill-informed bloggers or journalists who really have no idea what is going on in the loss mitigation arena. This to [...]

Popularity: 29% [?]

Moe Bedard | July 9th, 2008 | Continued

Feature Article #3

Bring Down the Banks with these Foreclosure Defense Tactics

Get your gloves on and start training for the fight of your life because foreclosure defense is going to be no easy battle. Make no bones about it, you are definitely fighting against one of the toughest and most powerful opponents in the world.
The banks!
Popularity: unranked [?]

Popularity: unranked [?]

Moe Bedard | July 7th, 2008 | Continued

Feature Article #4

Loan Safe Testimonial - 131 Homes Saved to Date With One Website

I am proud to announce that 131 families have received a loan modification, and 131 homes have been saved with our “Not for Profit: forum at LoanSafe.org. 131 people who now have mortgage relief, can focus on living instead of worrying about their loans.
Popularity: unranked [?]

Popularity: unranked [?]

Moe Bedard | June 24th, 2008 | Continued

Feature Article #5

Countrywide’s Mozilo Hushes Homeowner With an Unaffordable Loan Modification

Emails, letters, and scandal, seem to be circling Mr. Angelo Mozilo has he scurries to cover up when the light is exposed on his famously tanned hide. 
The light flips on and BAM! Out goes the Countrywide Freeze Super Hero’s who are paid by Mozilo to fix PR problems, and put muzzles on homeowers who may expose what [...]

Popularity: unranked [?]

Moe Bedard | June 5th, 2008 | Continued

About this Site

LoanWorkout.org is operated by Moe Bedard, president of Loan Safe Solutions, and an online medium that provides “truthful” mortgage, and housing reporting to empower consumers, the media, and anyone else to uncover the truth. Moe is the founder of  LoanWorkout.org, www.LoanSafe.org and several other consumer activism websites.
This website was created to fill a need on the internet for timely news, and information in [...]

Popularity: unranked [?]

modifyloan

Loan Modification & Home Loan News

21st

July 2008

Thousands of Homeowners Plan to Storm Capitol Hill to Save the American Dream

The line of eager people was wrapped around the Capitol Hilton in downtown Washington D.C. as my crew and I unloaded our gear out of our taxi. The crowd was thick and deep as a sea of yellow shirts offered smiles and encouragement to the children as they waited patiently with their mothers and fathers. Their curious faces filled with glimmers of hope as they stood in the hot and humid D.C. air.

It was an utterly amazing, but an eerily sad site and I actually have chills as I write this. My words cannot even grasp the true magnitude of what my eyes just have seen and my heart has experienced. All of us were just Read the rest of this entry »

Popularity: 3% [?]


Written by Moe Bedard -5 Comments,

18th

July 2008

Loan Safe Goes to Washington with NACA to Save the Dream of Homeownership

I am proud to announce that the Loan Safe crew will be heading to Washington D.C. this evening to assist NACA and struggling homeowners in this historic 5-day event .

Yesterday evening I had the privilege to speak with Bruce Marks, Executive Director of Neighborhood Assistance Corporation of America (NACA), as he was unloading over 300 lap tops in preparation for this huge event. He had asked Loan Safe to come to Washington to help victims of predatory lending that would be attending the event with our mortgage audit and if we could do this for free. I quickly replied, “It would be an honor to work with you and NACA. Lets do this Bruce! Read the rest of this entry »

Popularity: 5% [?]


Written by Moe Bedard -No Comments ,

17th

July 2008

House Republican Leader Confident in Rescue Plan

WASHINGTON — After a tense and at times testy meeting on Wednesday between Congressional Republicans and the Treasury secretary, Henry M. Paulson Jr., over his plan for a possible government rescue of the nation’s two largest mortgage finance companies, the House Republican leader said he expected the plan to be approved soon. Read the rest of this entry »

Popularity: 5% [?]


Written by Moe Bedard -No Comments ,

17th

July 2008

The FBI Investigates Indymac for Mortgage Fraud - Next Please!

When it rains it pours and when a bank fails, the FBI is going to find out why.

The facts are that the fraud and financial crimes ran rampant from all sides of the mortgage and real estate equation.

From the loan officers, appraisers, Realtors, notary publics, underwriters, account executives, managers, investors, brokerages, borrowers and the list can go on and on into eternity. But when it all comes down to finding the master minds of this fraud and world wide ponzi scheme, you can look no further than the king pins. The Don’s, Mozilo’s, the big wigs and the so called “untouchables” of the corporate world. Read the rest of this entry »

Popularity: 6% [?]


Written by Moe Bedard -1 Comment,

17th

July 2008

The SEC Finally Does Their Job and Puts a Stop to Naked Investing

Wall Street is playing games with our economy and betting on the consumer and also the down fall of many financial institutions. Welcome to the wonderful and highly profitable world known as “shorting” or “hedging”.

The Securities and Exchange Commission (SEC) has finally said enough is enough and issued a moratorium on what is known in the financial hedge world has ”naked trading”.

Sounds sexy, doesn’t it? Read the rest of this entry »

Popularity: 5% [?]


Written by Moe Bedard -No Comments ,

16th

July 2008

G.O.P. Resistance May Delay Housing Legislation

WASHINGTON — Democratic Congressional leaders on Tuesday pushed back their timetable for approving emergency housing legislation after Republicans voiced growing skepticism and, in some cases, angry opposition to the Bush administration’s proposal to rescue Fannie Mae and Freddie Mac, the government-chartered mortgage finance companies. Read the rest of this entry »

Popularity: 6% [?]


Written by Moe Bedard -No Comments ,

16th

July 2008

FDIC Chairman Sheila Bair’s Statement on the Federal Reserve Board’s Final Rule for Home Mortgage Loans

FOR IMMEDIATE RELEASE July 14, 2008
Media Contact: Andrew Gray (202) 898-7192 angray@fdic.gov

Federal Deposit Insurance Corporation Chairman Sheila C. Bair today issued the following statement on the Federal Reserve Board’s approval of a final rule for home mortgage loans.

“I applaud the Federal Reserve Board’s decision today to issue final, strengthened rules under HOEPA that will correct many of the abuses which led to the current housing crisis and help assure that mortgage Read the rest of this entry »

Popularity: 6% [?]


Written by Moe Bedard -No Comments ,

16th

July 2008

FDIC Chairman Sheila C. Bair Issues Statement on IndyMac Federal Bank, FSB, Conservatorship

FOR IMMEDIATE RELEASE July 13, 2008
Media Contact: In Washington: Andrew Gray (202) 898-7192, Cell: 202-494-1049 angray@fdic.gov

 

FDIC Chairman Sheila C. Bair, today issued the following statement about IndyMac Federal Bank, FSB, the conservatorship created by the FDIC to continue to provide banking services in communities served by the former IndyMac Bank, F.S.B. Read the rest of this entry »

Popularity: 7% [?]


Written by Moe Bedard -No Comments ,

15th

July 2008

Predatory Lending Begets Predatory Lending - Only in America

Can’t afford your home or your loan? Heck, just put in on your charge card and forget about it.

Well, at least until your credit card bill comes due next month and now Guido wants his money. One more month with your head above the toxic water and a temporary plug in your foreclosure boat for a few more weeks.

Is this a great great idea or just another debt trap for Americans? Read the rest of this entry »

Popularity: 7% [?]


Written by Moe Bedard -No Comments ,

15th

July 2008

IndyMac to reopen ’strong and safe,’ new boss says

PASADENA, California (CNN) — California bank IndyMac will reopen as a “strong and safe institution” under federal management and a new name Monday, days after regulators closed it, the firm’s new CEO said Sunday.

“Come Monday morning, it will be business as usual for all insured customers,” said John Bovenzi, who was placed in charge of IndyMac — now named IndyMac Federal Bank — after regulators seized the firm Friday. Read the rest of this entry »

Popularity: 7% [?]


Written by Moe Bedard -No Comments ,

13th

July 2008

Silence of the Lenders: Is Anyone Listening?

Loan Safe & Moe Bedard in the New York Times By Gretchen Morgenson

DAN A. BAILEY JR. was desperate when he sat down on May 19 to send an e-mail message to his mortgage lender, the Countrywide Financial Corporation, pleading, yet again, for help.

Behind on his payments and fearful of losing his home of 16 years — a 900-square-foot bungalow in Wilmington, N.C. — Mr. Bailey had spent the previous six months unsuccessfully lobbying Countrywide, at the time the nation’s largest home lender and loan servicer. Read the rest of this entry »

Popularity: 16% [?]


Written by Moe Bedard -3 Comments,

10th

July 2008

BofA CEO Lewis On Mortgage Business And Countrywide

Kenneth Lewis He is speaking to a packed house at a Town Hall Los Angeles luncheon, and I will update later with video clips and Q&A. But here are highlights from an advanced copy of the speech.

Lewis says BofA wants to help struggling homeowners stay in there homes, but admits he can’t help everyone.

“The first step is to review how we got here,” the CEO says in prepared remarks. “There were a lot of factors that played a role. Think of it as a ‘perfect financial storm.’”

Read more from CNBC

Popularity: 93% [?]


Written by Moe Bedard -2 Comments,

10th

July 2008

IndyMac Begins Dismantling Business As It Struggles to Keep Investors’ Faith

First, Countrywide Financial Corp. went down, as the nation’s biggest mortgage lender was acquired in a rescue operation July 1 by Bank of America Corp. Now Countrywide’s offspring, IndyMac Bancorp Inc., is on the ropes. Read the rest of this entry »

Popularity: 97% [?]


Written by Moe Bedard -No Comments ,

10th

July 2008

5 Ways Wall Street & Washington Set Us Up for the Crash

Nomi Prins, what are the five ways that Washington and Wall Street has brought us to this crisis?

NOMI PRINS: Well, it’s a historical matter, and basically there’s been a lot of legislation that has weakened the regulation of the housing industry and the lending industry and the trading that takes place with it that Wall Street has enacted and has gotten us into this major, major credit mess. Read the rest of this entry »

Popularity: 11% [?]


Written by Moe Bedard -No Comments ,

9th

July 2008

Loan Modification Myths and Facts

There are a lot of myths surrounding lenders and servicers as to what they will and will not do during the loan modification process. 

The confusion and inaccurate data that is propagating the internet and the news is based on ill-informed bloggers or journalists who really have no idea what is going on in the loss mitigation arena. This to me is akin to someone who studies baseball and claims to be an expert, but has never caught a ball or swung a bat in their lives. How can anyone take them seriously? How can these same people be relied on by the media as “experts” when they have never even played the game? Read the rest of this entry »

Popularity: 29% [?]


Written by Moe Bedard -2 Comments,

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