It’s tough enough when a homeowner can’t pay their debts and loses a home to foreclosure.  It’s even more mind-boggling though when they are notified that it will happen for a previous owner’s debt:   Embedded video from CNN Video

Fellow consumers, the Obama has a new regulatory agency just for us: The Federal Reserve would supervise large financial institutions that are considered so big that their failure could undermine America’s economy, according to the administration proposal. But Obama also would transfer some banking authority that now rests with the Fed and the Treasury Department to the new Consumer Financial Protection Agency. So what is this new agency supposed to do for us? The new agency could write rules, reform mortgage laws, examine financial institutions’ practices, enforce compliance through penalties, ban unfair practices and require that companies be "clear and…
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In our last episode of "As Elevation Chandler Turns", we saw that Jeff Cline, the developer of the long abandoned condominium/hotel in Chandler, AZ was in dire straights. He was trying to sell the project before it went into foreclosure.  Cline lost it however, and the lender now has it, but the lender’s not happy: [Thanks M and L!] A trustee sale was held Monday, and there were no buyers, leading the mortgage holder, California-based Point Center Financial, to believe it has taken the property. A bankruptcy hearing was held at the same time the trustee sale was going on…
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