Systemic failures at the country's banks and mortgage servicers have exacerbated the most severe foreclosure crisis since the Great Depression, making it extremely difficult for struggling homeowners to win a loan modification. Government efforts to limit the damage have fallen woefully short.
In a scandal that's ballooned in scope since the initial discovery of robo-signers, we review the status of investigations into foreclosure fraud, how courts are handling the mess and what solutions are on the horizon.
A look at one case that shows common indicators of fraud and the challenges of fighting it.
Mortgage modifications, both proprietary and HAMP, are just as rare as they were before the government’s mortgage modification program launched 19 months ago.
New York is requiring banks to sit down with homeowners before foreclosing. And it’s slowly starting to pay off.
A state attorney general, a legal services attorney and a law professor shared with lawmakers possible solutions for easing the foreclosure crisis.
Data obtained by ProPublica show how much has been spent through the government’s mortgage modification program (HAMP). Our data show how much has gone to each mortgage servicer.
Banks’ own modifications typically reduce monthly payments by half as much as those made in the government program, making homeowners twice as likely to fall behind again after a modification.
The U.S. government's effort to help struggling homeowners from defaulting on their mortgages is approaching a standstill, and the number of homeowners in ongoing mortgage modifications could start shrinking.
New numbers show the administration’s mortgage modification program continues to struggle, while government officials say the banks’ flawed foreclosure practices should draw even more attention to their poor record in the handling of homeowners seeking modifications.
In depositions both old and new, employees at servicers, foreclosure-mill law firms, and other players describe how they processed foreclosures. Read it in their words.
The investors who own mortgages are starting to threaten legal action over the way banks and mortgage servicers operate, saying the servicers are looking out for themselves, not their clients.
Robo-signing’s just small component of a larger mess made by servicers, according to consumer advocates and attorneys for homeowners. One expert explains how the process should’ve looked.
The government's mortgage modification is on pace to fall short of even the administration's vague goals, while details on why homeowners are being disqualified from the program raise questions.
Homeowners dealing with the load modification process offer some tips to make sure others can succeed. The most important: Get help, stay organized and don’t give up.
Permanent loan modifications can save homeowners from foreclosure, reducing their payments by an average of 36 percent. But for some, the help does not go far enough.
Extended trial periods delay answers and cause problems for homeowners looking for permanent reductions to their monthly mortgage payments.
Wells Fargo has finally given a loan modification to a long-frustrated homeowner who had feared foreclosure. The good news for Suzanna Wertheim came after ProPublica told her story and she appeared on "The Rachel Maddow Show."