Monthly Archives: May 2011
Lady Gaga’s Tour Forced Her Into Bankruptcy
Lady Gaga was left $US3 million ($2.8 million) in debt when her Monster Ball tour forced her into bankruptcy. The pop superstar launched her second series of live concerts in 2009 and has spent two years touring the show. Described as “the first-ever pop electro opera”, the tour was announced after an intended joint tour with Kanye West was suddenly cancelled. Since the Monster Ball tour began, Gaga has performed the show more than 200 times, grossing over $US227.4 million. Advertisement: Story continues below Gaga previously admitted her lavish stage sets and production costs left her bankrupt and she has […]
US judge rebukes mortgage practices in Oregon | Statesman Journal | statesmanjournal.com
The foreclosure fight in Oregon jumped to a new level last week after a federal judge in Medford rebuked the industry’s sloppy practices in blocking the seizure of a Jacksonville home, and mortgage issuers turned to the Legislature to find a quick fix to the legal quagmire. U.S. District Judge Owen Panner questioned whether big banks should be allowed to foreclose without court supervision — as required in 23 states but not Oregon, where one in every 500 homes is in foreclosure, according to Realty Trac Inc. That’s compared with one out of 600 nationwide. Panner specifically warned of problems […]
Banks May Negotiate Menu of Options in Foreclosure Deal
U.S. banks and state attorneys general, seeking to avoid $17 billion in court claims over faulty foreclosures, are discussing a settlement framework that may let firms choose from a menu of options for helping borrowers, two people briefed on the talks said. Under the proposal, Bank of America Corp. (BAC), Wells Fargo & Co. (WFC), JPMorgan Chase & Co., Citigroup Inc. (C) and Ally Financial Inc. would pay penalties and pledge billions of dollars in relief to home buyers, one of the people said, asking not to be named because the talks are private. Firms may fulfill obligations to borrowers […]
B. of A., Morgan Stanley Settle Foreclosure Suit
“The men and women who serve our nation in the armed forces deserve, at the very least, to know that they will not have their homes taken from them wrongfully while they are bravely putting their lives on the line on behalf of their country,” Justice Department Assistant Attorney General Thomas Perez told reporters. “They [military personnel] have our backs and they need to know that we have theirs.”According to the Justice Department, the victims included soldiers who “served honorably” in U.S. military actions in Iraq and Afghanistan. As part of the deal, a Bank of America (NYSE:BAC) subsidiary formerly […]
