The Real Estate Bloggers

The World’s Worst Neighbors? They Taunt Family with Dying Daughter

Posted: 08 Oct 2010 12:39 PM PDT

If one was trying to be the world’s worst neighbor you could not do much worse than this couple. The Petrov’s of Trenton, Michigan are in the midst of a neighborhood debate and are terrorizing a family that lost their mother with Huntington’s disease and living with a 7 year old daughter who is dying from the same disease.

Fox Detroit reports that a 7-year old girl named Kathleen Edward became the subject of cruel taunts by her neighbors. Kathleen is dying of Huntington’s Disease, a degenerative brain disorder which killed her mother at 24.

Neighbors Jennifer and Scott Petkov, who are allegedly embroiled in some kind of feud with Kathleen’s family, set up a Facebook page with a picture of Kathleen’s mother in the arms of the grim reaper and Kathleen’s face photoshopped into a skull and crossbones. Why? via Urlesque

As real estate professionals, is there anything we can do for this family?

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The World’s Worst Neighbors? They Taunt Family with Dying Daughter

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Bank of America Suspendeds Foreclosure In All 50 States

Posted: 08 Oct 2010 10:16 AM PDT

Bank_of_america As the Federal Government races to get a loophole passed by the President allowing the essentially illegitimate foreclosure proceedings to go on in the country, Bank of America has realized they could be in a world of hurt if they keep foreclosing on homeowners.

So today Bank of America has decided to stop foreclosing on homes in all 50 states. Let’s not worry about what this means to the industry at large right now. Let’s focus on what it means for homeowners.

Essentially if your house is close to foreclosure by Bank of America, and this includes old Countrywide mortgages, you have a window to breathe. It does not mean that they will stop foreclosures in the future, just that they will not foreclose on your home right now.

That is a big distinction. If you are in trouble with your mortgage this may be a great time to contact the bank and see if you can get a work out, even if you were denied before.

Due to poor paperwork procedures, essentially they faked the documents for the foreclosure to save time, the banks are afraid that they will get sued and be in big trouble. And they are probably right.

The Senate just passed a law essentially taking away the homeowners rights to help the banks in this situation, but the President has to sign it and he may be reluctant now that this is such a big story. But if he does sign it, Bank of America and the other banks that fudged the documents will go right back to foreclosing on your home and you will have less power to fight them.

Bank of America is halting foreclosure proceedings in all 50 states after revelations that paperwork wasn’t being closely examined.

The nation’s largest bank will stop foreclosures beginning Saturday, a week after announcing it would suspend action in 23 states. The bank said it won’t end the moratorium until a review of its practices is complete.

Congressional leaders have called for a suspension of all foreclosures following the discovery of problems with “robo-signers,” middle managers who sign affidavits allowing banks to repossess homes that are in default without fully reviewing the documents.

Several managers have admitted in depositions that they signed off on thousands of foreclosures without looking at much more than the date on the forms.

The Charlotte, N.C.-based lender is the first to stop proceedings in all 50 states. J.P. Morgan Chase and Ally Financial’s GMAC Home Mortgage division have put foreclosures on hold in about half of the country. via The Hill

Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.

Bank of America Suspendeds Foreclosure In All 50 States