MFI News

Equine Star Foundation horse rescue farm struggles with foreclosure

Shawn D. Lewis / The Detroit News White Lake Township — Homeless is not how Joan Tucker envisioned spending the new year with her 24 rescue horses. Her 70-acre farm, tucked inside a grove of trees off of a main road, is in foreclosure. Wells Fargo Bank plans to begin eviction... [Read more...]

Detroit’s Unemployment Rate Is Nearly 50%

From The Huffington Post: Officially, Detroit’s unemployment rate is just under 30 percent. But the city’s mayor and local leaders are suggesting a far more disturbing figure — the actual jobless rate, they say, is closer to 50 percent. As many have noted, the... [Read more...]

Mortgage Info

MFI-Detroit & MFI-Miami Launch Investigation Into Illegal Foreclosures By Deutsche Bank

MIAMI–MFI-Miami, LLC announced today that it’s narrowing its multistate investigation into illegal foreclosures and is focusing exclusively on Deutsche Bank. “Deutsche Bank is named as the trustee on nearly 50 percent of the fraud investigations we have done in the... [Read more...]

25 People Responsible For The Economic Meltdown

The UK Guardian has an interesting article about the 25 people responsible for the economic meltdown.  I am happy to see someone else agreed with me on a couple of them.    British PM Gordon Brown made the list which surprised me but then again he was Chancellor of Exchequer... [Read more...]

Consumer Alerts

Suburban Police Arrest Loan Mod Con ManFrom WDIV-TV ROSEVILLE, Mich. — A 48-year-old Grosse Pointe Woods man who had warrants for his arrest in four metro Detroit communities in connection with a mortgage fraud investigation was charged Friday in a Roseville courtroom. The Roseville Police arrested Bryan Cervier... [Read more...]

Fed appraisal rules sink home valuesNew regulations kill home sales, industry groups say Louis Aguilar / The Detroit News Federal actions intended to stabilize inflated real estate prices that led to last year’s financial meltdown are instead depressing prices and killing some sales in an already weak market. At... [Read more...]

Mortgage Law

Ottawa County launches new program for property owners

By Jeffrey Cunningham | Muskegon Chronicle GRAND HAVEN — The Ottawa County Register of Deeds office is encouraging everyone in the county who owns land to sign up for a simple program that might save property owners thousands of dollars and years of aggravation. The program,... [Read more...]

Talking Points: Obama Foreclosure Fix

By Glenn F. Russell, Jr. In light of President Obama’s “Foreclosure Fix” initiative announced last week, I wanted to send out a memo briefly explaining what the program is supposed to do, who it will apply to, and what the objectives are for this plan. This plan only applies... [Read more...]