Results tagged “mortgage”

First Angela Suleman said her daughter Nadya was "obsessed" with having kids and that she wouldn't be around to help her when her octuplets came home, then they seemed to have kissed and made up. But now TMZ is reporting that Mrs. Suleman hasn't been paying the mortgage during the months of her only daughter's most recent pregnancy. In fact, the gossip site explains: "According to documents filed earlier this month, OctoGrandma (who owns the house) hasn't made any payments on her home since May, 2008 -- she's behind $23,224.98."

The symbol of the housing boom and bust, Pasadena based IndyMac Bank that was seized in July by the federal government, has been sold to a group of seven investors for $13.9 billion. "We have assembled a group of experienced private investors in financial services to acquire the former IndyMac and operate it under new management with extensive banking experience," Steven Mnuchin, the leader of the holding company that bought the bank, said in a statement. "We will inject significant private capital into IndyMac so that it can once again effectively serve its customers and communities."

"We're fully expecting to have something to say before the end of the year," said Evan Wagner, a spokesman for the Southern California based IndyMac Bank, about the possible imminent sale of the bank to an owner or owners. That sale could be announced as early as today. Considered one of the largest bank failures in U.S. history, IndyMac's mortgage specialist unit was taken over by federal regulators on July 11 after $1.3 billion in deposits were taken out in 11 days following U.S. Sen. Charles Schumer questioning IndyMac's survival.

There's good news coming out of City Council President Eric Garcetti's district about a problem largely unreported in the home foreclosre crisis. When a landlord goes into foreclosure, renters, even the ones who are in perfect standing, are being pressured by the new property owner--banks--to vacate. Tomorrow, the 13th distric councilman will present a motion to halt this activity via a moratorium. From the press release: