The Never-Ending Foreclosure Crisis: Robo Signer Redux

Posted by & filed under Accounting Principles, All Articles, Auditing, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Fannie is trying to recoup the difference between what the borrowers owed on the mortgages when they were foreclosed and the amount Fannie received when it resold the properties. In Florida, these deficiency judgments can be pursued for 20 years, and borrowers must also pay a compounded annual interest rate of 4.5 percent. Several legal… Read more »

Double-Dipping Pain

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

Many homeowners are being taken to court by their lenders long after their houses were taken in foreclosure. How? Lenders are filing new motions in old foreclosure lawsuits and hiring debt collectors to pursue leftover debt, plus court fees, attorneys’ fees and tens of thousands in interest that had been accruing for years. Questions: 1…. Read more »

Do I have to take the course? Will I go to jail?

Posted by & filed under Accounting Principles, Advanced Accounting, Financial Accounting, Fraud Accounting, Managerial Accounting.

More than 300 district attorneys’ offices allow debt collectors to use their letterhead to send letters to people across the country who have written bad checks. These letters threaten them with jail if they do not pay up. In return, the companies try to collect not only the unpaid check, but also high fees from… Read more »