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In 2009, Maine attorney Thomas Cox pointed out the wide-scale practice of robo-signing in depositions taken of GMAC's Jeffrey Stephan and other robo-signers. [ 11 ] [ 12 ] News outlets reported that on September 14, 2010, Jeffrey Stephan testified that he had signed affidavits which he hadn't actually reviewed on behalf of Ally Financial . [ 13 ]
April saw a surge in home foreclosures, with thousands of properties repossessed nationwide.Last month saw an 8% increase in repossessions from the previous month, totaling over 2,900, despite a ...
They break into vacant, unused bank-owned foreclosed homes and move homeless people inside. [41] Take Back the Land organized a shantytown called the Umoja Village to squat a vacant lot in 2006 and 2007. [42] Homes Not Jails in San Francisco advocates squatting houses to end the problem of homelessness. It has opened "about 500 houses, 95% of ...
Prices are flat, home sales fall, resulting in inventory buildup. U.S. Home Construction Index is down over 40% as of mid-August 2006 compared to a year earlier. A total of 1,259,118 foreclosures were filed during the year, up 42 percent from 2005. [51]
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In more than two dozen cities across the nation the movement took on the housing crisis by re-occupying foreclosed homes, disrupting bank auctions and blocking evictions. [ 15 ] Saying, "The banks got bailed out, but our families are getting kicked out", Occupy Wall Street joined in solidarity with a Brooklyn community to occupy homes that were ...
Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured by that property.. In real estate, foreclosure is the termination of the equity of redemption of a mortgagor or the grantee in the property covered by the mortgage.
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