Lack of Regulation of ‘Shadow Banking System’ Caused Housing Crisis

The continued narrative that the housing crisis was due to government programs that helped poor people is doubtful explains  researcher at the Sloan School of Management at MIT Antoinette Scholar. She says it isn’t what happened: “A lot of the narrative of the financial crisis has been that this [loan] origination process was broken, and therefore a lot…


Time-Bar Invoked in Mortgage Foreclosure Action

Time-Bar Invoked in Mortgage Foreclosure Action Max Mitchell, New Jersey Law Journal July 11, 2016 SHARE PRINT REPRINTS mphillips007 Wading into the rarely-invoked statute of limitations for mortgage foreclosure actions in New Jersey, a Bergen County judge has barred a mortgage company from filing a foreclosure action, finding that the suit was brought outside the statute…


NJ Homes in Preforeclosure Rising

In April preforeclosures were up over March by 44.6% . This continued the trend of increasing numbers of homes in preforeclosure reported in February. The decline in preforeclosures was the trend through the end of 2015. The problem of home foreclosure in New Jersey unfortunately continues. MARKET SUMMARY In New Jersey, there are currently 64,487…


Foreclosure Fraud: Can it Happen Again?

We’re sharing a story from 4closurefraud.org sourced from newamerica.org in to introduce you to two additional resources to learn more about issues impacting consumer finance. New America: Foreclosure Fraud in the Wake of the Great Recession A discussion of foreclosure fraud in the wake of the Great Recession and how it led to new policy…


Jury Awards Man $2.5 in Punitive Damages Against Ocwen for Willfully Violating the FCRA

Jury Awards Man $2.5 in Punitive Damages Against Ocwen for Willfully Violating the FCRA Attorney Adam Deutsch of the law firm Denbeaux and Denbeaux talks about the award of $2.5 in punitive damages in a foreclosure case. He explains why the jury made the award, how the case developed and what homeowners in NJ can expect if they…


Stop Foreclosure Now

As many of 94% do not answer a lawsuit related to foreclosure. The problem is people are scared and freeze up hoping the problem will go away. These people will lose their homes eventually because they didn’t even try, and they gave up. Fear can do that to people…but it doesn’t have to be that…


Podcast: David Dayen Talks About His New Book “Chain of Title”

In Episode 15 of The Financial Consumer Rights Talk, host Adam Deutch interviews author David Dayen and talks about his new book, Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud. David Dayen has been writing about politics since 2004 as a blogger and later freelance journalist.  In recent years Dayen has become increasingly…