The Home Equity Theft Reporter: Senior Citizens, Retirement Funds Victimized By Subprime Lending Mess

This week’s financial shocks have given Barack Obama an unexpected opportunity to regain some of the momentum that was lost in the aftermath of John McCain’s convention and the excitement over Sarah.

Among other things, McCain senior adviser Steve Schmidt said McCain would begin unilaterally pulling down his campaign ads and cease fundraising. "It has become clear that no consensus has developed.

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And they’re thankful to the lawyers at the Senior Citizens’ Law Office who helped make that happen. Senior Citizens law office executive director Angelica Allen said that an order dismissing the foreclosure action against the couple, who are in their 80s and not in the best of health, has been filed in state district court.

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Seniors were sold a risk-free retirement with reverse mortgages.. loans that allowed senior citizens to tap into their home equity have failed, These elderly homeowners were wooed into borrowing money through the. when subprime lenders targeted specific neighborhoods with risky loans doomed to.

Home ownership, which is usually a family’s chief investment, sat at 65 percent from 1985 to 1995 and then peaked at 79 percent in 2004. By last summer, after the subprime mortgage crash, the U.S. Census Bureau said 67 percent of households own a home, down 12 percent from the peak.

expansion of inappropriate subprime lending (n.b. – homeownership stopped climbing in 2004 and much of the subprime lending activity was for refinancing, not home purchase – let alone first time home purchase). Policy makers failed to ensure that their stated homeownership policy goals were

Predatory lending is a serious crime in California that can affect the lives of the lender as well as the borrower. If you are accused of this offense, we know how to challenge the state’s evidence to help demonstrate that you were engaged in legitimate business practices.

Meet the New King of Subprime Lending Fortress Investment’s Wesley Edens turns $124 million into $3.5 billion; it’s not a bad thing’

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