Minnesota Independent

Democrats hit Bachmann on foreclosure vote

By Andy Birkey | 03.11.11 | 9:30 am

The Democratic Congressional Campaign Committee is targeting Rep. Michele Bachmann following a vote to defund the Home Affordable Modification Program (HAMP). Though the Democrats are targeting Bachmann, her Democratic colleagues, Reps. Tim Walz and Collin Peterson, joined the Republicans on the vote Thursday. Bachmann and Rep. Chip Cravaack both represent districts with a high rate of foreclosures.

Franken urges reform on foreclosure ‘robo-signing’

By Andy Birkey | 02.02.11 | 4:00 pm

Sen. Al Franken participated in a U.S. Senate hearing on Tuesday regarding the foreclosure process and ways that the federal government could help Americans keep their homes while also preventing investors from losing their investments. Franken said that one of the biggest problems fueling the foreclosure crisis is “robosigning,” a tactic used by lenders to speed up the foreclosure process.

Franken wants to create mortgage watchdog office

By Andy Birkey | 05.10.10 | 7:45 am

Sen. Al Franken is pushing an amendment to the financial reform bill that would create an office to investigate complaints by homeowners who believe their mortgage handlers are breaking the law.…

Ellison targets conflict of interest in mortgage lending

By Andy Birkey | 04.05.10 | 1:48 pm

Rep. Keith Ellison, along with Rep. Brad Miller, D-N.C., introduced legislation last week that would fix a problem in mortgage lending. The bill would eliminate conflicts of interest among large banks that prevent them from modifying troubled mortgages. The bill…

Bachmann’s district continues to lead state in foreclosures

By Andy Birkey | 12.01.09 | 6:00 am

In 2008, the district represented by Rep. Michele Bachmann had the highest number of foreclosures in the state and the highest overall rate of foreclosures. Now, 9 months into 2009, that trend continues. According to data from HousingLink and county sheriff’s offices, Bachmann’s district still continues to be disproportionately impacted by the foreclosure crisis despite its representative’s reticence to vote for foreclosure relief legislation.

Bachmann falsely stated ACORN faces criminal charges

By Andy Birkey | 04.30.09 | 2:52 pm

ACORN — the Association of Community Organizations for Reform Now — called out Rep. Michele Bachmann on Thursday for falsely claiming that the group was under federal indictment for voter fraud. The group noted Bachmann’s opposition to foreclosure relief, citing the Minnesota Independent’s report that Bachmann’s district has the state’s highest rate of foreclosures.

Bachmann’s district has Minnesota’s highest foreclosure rates

By Andy Birkey | 04.06.09 | 10:33 am

A Minnesota Independent analysis of foreclosure data from across the state reveals that Rep. Michele Bachmann’s 6th district leads the state.

Minneapolis receives $1.5 million in foreclosure relief

By Andy Birkey | 01.07.09 | 2:10 pm

The Minneapolis Advantage, a program to encourage home ownership in foreclosure impacted neighborhoods, will receive an infusion of cash which will triple the program’s current budget. Federal Home Loan Bank (FHLB) of Des Moines awarded the city $1.5 million to continue the program.

Minneapolis home sales are up, but prices are down again

By Molly Priesmeyer | 10.28.08 | 11:01 am

It’s become a broken record of late: Home-price declines breaking records. With the economy on the skids and the subprime crisis still unfolding, home values are getting devoured first. This morning the S&P/Case-Shiller home-price index was released, revealing that the trend doesn’t show any signs of slowing down. The 20-city index showed year-to-year August price declines of 16.6 percent. Minneapolis saw a drop of 13.3 percent over the year period, with a 1 percent decline from July to August.

Neighborhood watch: Mortgage fraud, copper theft, and now house stealing?

By Molly Priesmeyer | 05.22.08 | 11:35 am

In late March, the FBI warned of the newest form of identity theft: house stealing. The crime often works like this: A group or an individual finds a vacant home. They look up the deed…