When Caitlyn Corso’s salary as a veterinary technician was cut last year, she couldn’t keep up with her mortgage payment. She fell into a pattern of making her $1,200 payment 30 days late. She asked for a loan modification from her mortgage servicer, Chase Home Finance. After a four-month cycle of 30-day-late payments, Corso said a Chase employee advised her to stop paying the mortgage on her Hilliard house as a condition to seal the loan-modification deal. Corso, 26, followed the directive in May. Chase filed for foreclosure in September.
Banks accused of misleading owners
Most Popular Articles
Foreclosure threat grows as COVID-19 surges, Fed says
The danger of mortgage forbearances turning into foreclosures is rising as COVID-19 infections surge in the U.S., according to the Federal Reserve Bank of Atlanta.
Jul 06, 2020
-
Quicken Loans drops S-1 under the name Rocket Companies
Jul 07, 2020 -
Home prices in Florida and Arizona expected to drop due to COVID-19 “perfect storm”
Jul 07, 2020 -
It looks like Kanye West is revisiting his affordable housing plans
Jul 06, 2020 -
Is it worth it for lenders to reopen physical offices?
Jul 06, 2020 -
Tappable home equity rises to record $6.5 trillion
Jul 06, 2020
Latest Articles
Gentrification comes from lack of housing supply, Urban Institute says
Higher housing costs as a result of the shortage inventory leads affluent buyers to seek out low- or moderate-income neighborhoods, creating gentrification.
Jul 08, 2020
-
Forbearance rate declines after June’s economic improvements, but will it hold?
Jul 08, 2020 -
5 things mortgage pros must know about Quicken Loans’ Rocket Companies IPO
Jul 08, 2020 -
Housing Tech Rundown: Notarize, Optimal Blue and TowerHouse
Jul 08, 2020 -
HousingWire to donate to MBA Opens Doors for every magazine social post
Jul 08, 2020 -
NAR’s Victoria Gillespie: Don’t wait for a crisis to build strength
Jul 08, 2020
