A temporary injunction was obtained by Attorney General Bill McCollum against Lincoln Lending Services, LLC and its owner Rota Gomez thanks to a new state law that prohibits companies from charging upfront fees from people availing of loan modification and foreclosure rescue services. The injunction prohibited Lincoln from taking payments from consumers for mortgage modification and foreclosure rescue services. Lincoln is also prevented from providing consumer-debt related or mortgage modification services.

With the injunction the company will be forced to allow the authorities to inspect their records and to refrain from liquidating its assets. The TRO also required the company to refund all up-front payments made by their customers on the…

The impending foreclosure of the vacation home of New Orleans mayor Ray Nagin is proof that the rich and the famous are not recession-proof. The foreclosure however stems from a matter other than non-payment of mortgage. Nagin seems to have been remiss in the payment of his association dues forcing his homeowners association to file a notice of lien with the country court resulting to the scheduled foreclosure sale of his vacation home on April 7.

A spokesman for Nagin however said this was a personal matter which would be resolved shortly. The about-to-be foreclosed 1,700-square foot vacation home in the wealthy Frisco, Texas area was bought by Nagin and his…

The increasing number of foreclosed properties has given rise to more vacant homes that are prone to looters. It has also resulted to the further devaluation of home values. However, there is one way to protect vacant homes while maintaining its value and that is through home sitters. This is a strategy resorted to by lenders who want to retain the lived-in value of the foreclosed homes.

Allowing home sitters will also provide some sort of income albeit minimal. By charging people with a minimal rent of as low as $400 per month you will be able to get someone to maintain a vacant property. Aside from the monthly rent, house…

The once alluring Alante at the Islands is now a picture of neglect after property owner Bethany Holdings Group abandoned the property after it defaulted on its loans. This is not the only property abandoned by the Irvine, California based company because a dozen other properties in the greater Phoenix area are in the same sad state of neglect. However, residents of Alante found this out only in the early weeks of March when they noticed the lack of maintenance over the property.

The abandonment of Bethany Group has given rise to the lack of protection for renters who are caught in the foreclosure crisis. Alante renters are now at a…

One thing that’s great about the recession is the concerted efforts from almost everyone to cushion its impact. Take the case of banks that have agreed to temporarily halt foreclosures. There’s also the establishment of a foreclosure assistance center for residents of West Palm Beach. Homeowners in Palm Beach County can avail of the foreclosure assistance center, which has recently been expanded, for free. The center aims to curb the increasing rates of foreclosures in Florida.

The Foreclosure Assistance Center do not only provide credit assistance to homeowners but it also offers mortgage refinancing and even handing out of up to $10,000 worth of checks to help homeowners catch up with…