Allowing Wells Fargo to collect full back interest on foreclosed mortgages will drive up debt for overburdened homeowners
- REAL ESTATE
Tuesday, January 22
by Joe Tyrrell, NJSpotlight.com Wells Fargo Bank can charge New Jersey homeowners full back interest on mortgages in foreclosure cases that were delayed by a judicial review of abuses in the process, a Superior Court judge has ruled. The decision by chancery Judge Margaret Mary McVeigh boosts the debt owed on thousands of properties at a time when major banks ostensibly are offering loan modifications to homeowners in arrears. Now, the debt starting point for modifications will be higher for thousands of borrowers, which may increase the likelihood of foreclosure. They will be hit with back interest accrued at rates as high as 13 percent, set before the cost of borrowing plunged along with the economy. Wells Fargo, represented by Mark …
Michael Hasuga, of Bloomfield, accused of robbing Rutherford bank just weeks after getting out of jail. Robber reportedly struck in Teaneck, Fort Lee, Hasbrouck Heights, Lyndhurst, Rutherford and Clifton.
Will the real Slim Shady please stand up? A Bloomfield man, formerly known as the "Eminem" bank robber, was arrested for robbing a bank just three weeks after getting out of jail for a spate of bank robberies 10 years ago. Michael Hasuga, 54, is accused of robbing $710 from a Wells Fargo Bank in Rutherford on Oct. 9, a bank he had hit in 2003, when it was a First Union Bank, according to NorthJersey.com. Hasuga, who made national headlines years ago as the elusive "Eminem" bank robber because of his baggy clothing and apparent resemblance to the rapper, had just served a nine-year sentence for a series of bank robberies. Earlier this month, Hasuga was back at it again, wearing a black hooded sweatshirt, sunglasses and clear surgical gloves…