Friday, June 11, 2010

News roundup for homeowners

  • Countrywide has been accused by federal authorities of collecting excessive fees from mortgage borrowers.  On June 7, the AP reported that Bank of America, which bought out Countrywide, has reached a $108 million settlement to compensate the borrowers. 
  • According to the AJC on Monday, “DeKalb County wants taxpayers to foot the bill to redevelop the sprawling GM plant in Doraville, a $36-million proposition.”
  • The Hill says that Congress is considering the elimination of the tax deduction for mortgage interest (h/t TaxProf Blog).
  • Zillow warns of “flopping”—an emerging form of short sale fraud.

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