Archive for July, 2009

Oregon governor signs consumer protection bills (San Francisco Chronicle)

Friday, July 31st, 2009

Gov. Ted Kulongoski signed two new consumer protection bills Thursday, including one aimed at reducing the number of home foreclosures in Oregon. The legislation, passed in the closing hours of the 2009 Legislature, requires lenders to notify homeowners… Sponsored Topics: Oregon - Ted Kulongoski - United States - Consumer protection - Foreclosure

More: continued here

FHA announces plan to modify troubled mortgages (seattlepi.com)

Friday, July 31st, 2009

U.S. Housing and Urban Development Secretary Shaun Donovan announced Thursday that the Federal Housing Administration was bringing its mortgage modification program in line with the administration’s Making Home Affordable program.

More: continued here

Two new Oregon state laws will help struggling homeowners (KATU Portland)

Friday, July 31st, 2009

Oregon Gov. Ted Kulongoski signed two bills to help struggling homeowners on Thursday. This legislation requires lenders let homeowners facing foreclosure know that they can meet with the lender and would force lenders to see if the borrower is eligible for loan modification.

More: continued here

Judge approves lenders’ bid for Delphi Company soon will exit bankruptcy (The Clarion-Ledger)

Friday, July 31st, 2009

A bankruptcy judge on Thursday approved Delphi Corp.’s plan to hand control of the big auto parts supplier to its lenders and soon end a nearly four-year stay under Chapter 11 protection.

More: continued here

Provident Financial enjoys profits boost but is attacked by Barnardo’s (Guardian Unlimited)

Friday, July 31st, 2009

• Doorstep lender charges up to 545% APR on loans • Barnardo’s calls for investigation of lenders to the poor Doorstep lender Provident Financial today reported a rise in profits as the credit crunch continues to squeeze household budgets – but was attacked by children’s charity Barnardo’s for charging “extortionate” interest rates. The company, known as “the Provvy” to many, agreed some of its …

More: continued here

Oregon governor signs consumer protection bills (AP via Yahoo! News)

Friday, July 31st, 2009

Gov. Ted Kulongoski signed two new consumer protection bills Thursday, including one aimed at reducing the number of home foreclosures in Oregon.

More: continued here

Retirees ‘haven’t given up’ (Tribune Chronicle)

Friday, July 31st, 2009

NEW YORK - Delphi Packard Electric salaried retirees “haven’t given up” after a bankruptcy judge denied their objection Thursday and approved Delphi Corp.’s plan to hand control of the auto parts supplier to its lenders, a spokesman for the local group sai.

More: continued here

US Fed Releases Mortgage Shopping Tips (Nasdaq)

Thursday, July 30th, 2009

WASHINGTON -(Dow Jones)- As the U.S. Federal Reserve fights to hold on to its role as a consumer watchdog, the agency Wednesday released a tip sheet aimed at helping home buyers shop for mortgages.

More: continued here

E-views (Antioch News)

Thursday, July 30th, 2009

In the weekly feature called “e-views,” we invite readers to answer a question via e-mail. What is the best way to help stabilize home prices and re-establish the real estate market? Do you think the banks are doing enough to renegotiate loans and stem the tide of foreclosures?

More: continued here

Lawmaker fights foreclosure bill he crafted (East Valley Tribune)

Thursday, July 30th, 2009

A freshman state senator said Wednesday he will lead the fight to repeal a bill on home foreclosures he crafted and pushed into law less than two months ago.

More: continued here