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Housing Rights Group Says HUD Program Helps Wall Street, Hurts Homeowners

Rebecca Burns @ Truthout - After learning that his home was in foreclosure in July 2013, James Cheeseman received an even more unpleasant surprise when he showed up in court the following January. He was told that his mortgage loan had been sold by JP Morgan Chase and purchased by a company he had never heard of before - LVS Financial.

Cheeseman had already applied for a loan modification from Chase and says he was still awaiting a response when the loan sale occurred - a move that he and his attorney argue violates New York State foreclosure laws.  Read more.


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