What is private mortgage insurance, and how can it end up suing you?

Foreclosure House

The New England Center for Investigative Reporting has found that more than 200 Massachusetts home owners and thousands more across the United States have been pursued by mortgage insurers for losses ranging from tens of thousands of dollars to more than $200,000 since the foreclosure crisis began. And consumer have scant control over whether their insurance company will demand money from them after a foreclosure. Continue Reading →

Foreclosure echo

Guillermo Galindo

When Guillermo Galindo lost his two-family Revere home to foreclosure in 2009, the soft-spoken Colombian thought he had finally freed himself from the flood of threatening collection letters from his lender and a ballooning, untenable debt. But that hope evaporated months later when Galindo received a letter from a lawyer claiming he owed $136,547 in losses for the family home he’d left behind. Continue Reading →