Archives

Glenside, PA - June 25, 2009 - (RealEstateRama) - As the mortgage foreclosure crisis escalates, the scammers have found a lucrative new business: helping people avoid foreclosure, for a price.

HARRISBURG, Pa., - June 22, 2009 - (RealEstateRama) - Secretary of Banking Steve Kaplan announced today that Taylor, Bean & Whitaker Mortgage Corporation, or TBW, will modify loans for struggling homeowners and pay $9 million in fines as part of a settlement with Pennsylvania and 13 state mortgage regulators

PHILADELPHIA, PA June 16, 2009 - (RealEstateRama) - Mahn Huu Doan, a/k/a "Bruce Doan", 40, of Philadelphia, was sentenced today to 151 months in prison for a massive mortgage fraud and identity theft scheme, announced United States Attorney Michael L. Levy. Doan, a self-described real estate investor, would purchase houses, using false or borrowed identities, using government insured loans which he secured using fraudulent information.

Washington, DC - May 21, 2009 - (RealEstateRama) — Congressman Joe Sestak (PA-07) helped the House pass, by a 367-54 margin, legislation to help Americans stay in their homes and to avoid many of the estimated 8.1 million additional defaults on mortgages predicted over the next four years when potentially 5 million homes could be lost through foreclosure or short sales.

WASHINGTON, DC - May 7, 2009 - (RealEstateRama) — Congressman Joe Sestak (PA-07) voted for H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009, which the House passed by a vote of 300 to 114. The measure is aimed at curbing “predatory” lending – a major factor in the nation’s highest home foreclosure rate in 25 years.

WASHINGTON, DC - March 25, 2009 - (RealEstateRama) — Congressman Joe Sestak (PA-07) met with Patricia Coulter, President & CEO, and Michael Walker, Senior Advisor, of the Urban League of Philadelphia; Sonya Springer, President of the Urban League’s Young Professionals; and Mamie Fains, of the Urban League Guild. During the meeting the Congressman discussed their mutual concerns regarding financial literacy, housing assistance, and support for small businesses especially in these troubling economic times.

WASHINGTON, D.C. - March 5, 2009 - (RealEstateRama) — To avoid an estimated 8.1 million additional homeowners from defaulting on their mortgages over the next four years—with potentially 5 million homes lost through foreclosure or short sales—Congressman Joe Sestak (PA-07) today voted for H.R. 1106, the Helping Families Save Their Homes Act, which passed by a vote of 234 to 191.

Media, PA - January 27, 2009 - (RealEstateRama) – A comprehensive solution to the current economic crisis demands immediate efforts to resolve the core of the problem -- the ongoing cycle of increasing foreclosures.

Washington, D.C. - November 17, 2008 - (RealEstateRama) – U.S. Senator Arlen Specter (R-PA), Ranking Member of the Senate Judiciary Committee, today introduced the...

Glenside, PA - September 14, 2008 - (RealEstateRama) — The Federal Reserve Bank of Cleveland and NeighborWorks America, Great Lakes District are pleased to...

HARRISBURG, PA - September 11, 2008 - (RealEstateRama) — Attorney General Tom Corbett today announced a court-ordered judgment totaling more than $2.3 million in a consumer...

WASHINGTON, D.C., June 12, 2008 (RealEstateRama) - U.S. Rep. Charlie Dent today voted against bail out legislation that would have given Fannie Mae and Freddie...

HARRISBURG - May 23, 2008 - Attorney General Tom Corbett today announced the filing of a consumer protection lawsuit against nine individuals who were...

U.S. Senators Bob Casey (D-PA) and Arlen Specter (R-PA) and Congressman Tim Holden (D-PA) today sent a letter commending Fulton Mortgage Company’s work on...

Harrisburg, PA – April 8, 2008 – With all of the challenges consumers are facing in today's housing market, there is some good news....

Harrisburg, PA – February 20, 2008 – The downturn in the housing market has led the Federal Reserve to cut interest rates to their...

Harrisburg, March 12, 2008 -- A package of bills to protect future mortgage borrowers was sent to the House of Representatives with overwhelming passage...

Harrisburg, PA - January 21, 2008 - With the New Year upon us people are likely gathering their tax documents and scheduling an appointment with their...

Legislative Approval Needed Now to Strengthen PA Lending Laws  HARRISBURG – People shopping for mortgages or refinancing their homes will be better protected from fraud...

In spite of the negative publicity, there is a lot being done to try and help subprime borrowers including the White House proposal to...