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Homeowners: Banks not following rules for loan modifications

Homeowners: Banks not following rules for loan modifications
January 19, 2010 --

An examination shows how mortgage servicers have created unnecessary hurdles to getting loan-mods and have violated the government’s rules for the program. “There’s a real resistance on the servicers’ part to making permanent modifications,” said Diane Thompson of the National Consumer Law Center.

Your August bailout update: $393 billion outstanding

Your August bailout update: $393 billion outstanding
September 2, 2009 --

By PAUL KIEL, ProPublica

Starting with this post, we’ll be updating you every month on the status of the taxpayer-funded bailouts we track in our database — namely the TARP and government rescue of Fannie Mae and Freddie Mac. Recent reports by the New York Times and Wall Street Journal have drawn attention to the billions in revenue that the Treasury Department has collected from companies early in returning their TARP investments. While those returns have been encouraging, there’s no question that the taxpayer remains deep in the red.