Spotlight Archive

  • Thursday, April 11, 2013
    Checks hit the mail to foreclosed homeowners »

    The first wave of checks will head to homeowners who were foreclosed on in 2009 and 2010 starting Friday, April 12.  While payouts range from $300 to $125,000, most borrowers will receive only about $300. Those receiving $300 to $600 include nearly two million homeowners who applied for a loan modification but ended up in foreclosure anyway, and others whose mortgage servicers never considered them for a modification.

  • Thursday, January 17, 2013
    Bought drywall in the past 12 months? Read this »

    Consumer Action has been informed by a law firm we work with about a potential lawsuit against companies that produce and sell gypsum drywall for the construction and remodeling of homes. The attorneys believe that these companies (see footnote) may have been involved in price fixing (see footnote). The legal action would seek refunds for consumers and the builders of homes that purchased drywall from these companies from Jan. 1, 2012 to the present.

  • Thursday, January 17, 2013
    New rules for foreclosure prevention »

    Consumer Financial Protection Bureau releases mortgage servicing rules

    While new mortgage servicing rules do not require servicers to offer modifications on home loans (even where it makes financial sense for both the borrower and the loan’s owner), the new national standards do create an industry-wide process to clarify what options are available to homeowners to avoid losing their homes.

  • Thursday, January 10, 2013
    Consumer bureau releases ‘safe’ mortgage rules »

    The Consumer Financial Protection Bureau (CFPB) has announced mortgage rules designed to ban deceptive practices, limit risky loans and establish safe lending standards to ensure borrowers can afford the mortgages they receive. The Bureau has been trying to balance protecting consumers from abusive loans with encouraging lending.
  • Thursday, May 03, 2012
    Consumer Action releases housing discrimination survey »

    Community-based organizations (CBOs) dealing with the disabled, immigrants, families with children, and other underserved consumers are reporting that housing discrimination remains a widespread problem in the United States, with the most vulnerable consumers unsure of their rights and how to protect themselves.
  • Monday, March 07, 2011
    Homeless children: the hard times generation »

    60 Minutes reports on the heartbreaking story of the growing number of children who are falling victim to the foreclosure crisis.
  • Tuesday, August 10, 2010
    Consumer Action weighs in on usefulness of key housing data »

    At an Aug. 5, 2010, hearing about data collected under the Home Mortgage Disclosure Act (HMDA), Consumer Action offered ideas for using this key housing data more effectively to build initiatives around homeownership and housing policy.
  • Friday, January 29, 2010
    Revised rules for mortgage modifications »

    The U.S. Treasury Department has revised its rules to help simplify and improve the process of obtaining a mortgage loan modification under the government's Home Affordable Modification Program (HAMP) program.
  • Monday, February 02, 2009
    Kiplinger's Insurance Quiz »

    Insurance: It's complex, and it can be quite expensive, too. But you're putting your finances at a big risk if you don't have enough coverage, or if you don't know exactly what your policies cover. Test your knowledge with this ten-question quiz ...
  • Thursday, January 29, 2009
    Congressional Oversight Committee report released »

    A new report by the Congressional Oversight Committee points to three areas of regulation that could have prevented the current economic crisis.
  • Friday, March 14, 2008
    Financial education for the armed forces »

    Outreach staff members Mikael Wagner and Linda Williams are featured in a video segment about Consumer Action’s MoneyWi$e partnership with Capital One and how important financial literacy is to military families.
  • Friday, February 29, 2008
    IRS: No tax on forgiven mortgage debt »

    Homeowners with forgiven mortgage debt in 2007 may be able to claim tax relief.
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