Mozilo, the perpetually tanned son of a butcher from the Bronx, co-founded Countrywide Financial in 1969. He built it into an unstoppable mortgage machine that made it easy – evidently too easy – for millions to own a home.
Interactive Brokers is raising margin requirements on volatility products, to very high and arguably unreasonable levels that at best border on paternalism. We argue that IBKR is taking prudent action that will enhance the long-term best interests of many of its clients, as well as its shareholders. Foreclosure News
A yet-to-be identified buyer has paid $ 36million for the luxury penthouse at the One57 tower in New York formerly owned by wanted Nigerian oilman Kola Aluko. The oil magnate wanted in Nigeria by the Economic and Financial Crimes Commission for fraudulent oil deals estimated at $ 1.5 billion, bought the apartment in 2014 for…
Low down payment mortgages are creeping their way back into the market like a cat sneaking up on an unsuspecting mouse. The only difference here is that the mouse is a million dollar crap shack with a 30-year mortgage attached to it. Foreclosure News
After news broke on Monday that Drever Capital Management was in default for a $ 55 million loan to renovate the 1401 Elm building downtown, it turns out, the building has been posted for foreclosure. Public filings show that the 52-story former First National Bank tower will be sold at auction on Dec. 5, following…
An abandoned and dilapidated apartment house in Lackawanna that became the focus of a new state law, cracking down on foreclosed “zombie” property may be getting a new life. Local officials announced on February 3, enforcement of the new law, called the Foreclosure Relief Act, could lead to $ 500 a day fines against the…
Joseph Bates, 48, stands in front of the Southwest Detroit home his great-great-grandparents bought in 1907. The home had been in his family until it was foreclosed due to unpaid tax bills. Foreclosure News
