According to this article in the New York Times, the new rules for short sales are going to help the homeowners - or at least that is the plan according to government officials…
But the underlying facts of how the new rules will play present a very different picture; and also an interesting dilemna for the [...]
Continue reading about How Bizarre How Bizzare - Another Twist in the Housing Crisis Play Book
This piece from Truth About Mortgage pretty well says it all - if you read it all the way to the final few lines…
No significant change in conditions? Really? Not sure if that is a euphamism for “We have not fixed anything yet” or a bold denial of “We know we are only making [...]
We’ve been saying for a while that Indy/ One West has been nothing but trouble for people dealing with them on short sales and loan modifications…
Pretty much they make it impossible for borrowers to deal with - whether it’s cash up front demands for ‘consideration’ of a permanant loan modificaitons to short sale deals which [...]
Continue reading about Trouble with Your Indy/ One West Loan Modification or Short Sale?
In what may be the most blatant and stunning discovery to date in the mortgage fraud game, actual public records with the words “BOGUS ASSIGNEE” and “BOGUS ASMTS” as the GRANTEE in the records themselves have been found in cases in AL and FL that have been used in actual foreclosure proceedings resulting in people [...]
This video crossed my radar today and left me at least feeling vindicated that what I am seeing in the world of the ongoing ‘mortgage crisis’ and foreclosure melt down is really what is happening, not just to the families and people I know and work with but across the board…
And it’s good to know [...]
In this Feb 2nd piece, Nathan Martin provides all the facts and figures to explain exactly what the real numbers are and what the mathematical plague is that has arleady turned all of us into mathematical Zombies.
Tuesday, February 2, 2010
Zombie Nation – The Rise of the Mathematical Plague…
Zombie.
Dead, yet still walking.
Soul long since [...]
This latest article from CNN Money makes it very clear that the lenders are not letting people off the hook when the house goes to foreclosure OR short sales. Homeowners who have lost their homes since the current mortgage crisis began are now finding themselves the target of collections companies and lenders pursuing deficiencies [...]
Continue reading about Lenders Pursuing Deficiencies Against Homeowners Even Well After Foreclosure
Reading articles on the state of real estate markets, banking, credit and lending is not much fun…
Trying to figure out what is going to happen next in the market? Not easy!
Knowing what game is afoot adn what to expect next? Sometimes seems near to impossible.
But heck, if you’re trying to have a handle on any [...]
15 January 2010
This piece showed up on Jesse’s Cafe’ as well as Mish Shedlock’s blog Friday the 15th of January - and frankly we are thrilled to see that this practice, which we have encountered ourselves MANY times in the process of completing a successful short sale is finally getting some attention. Kudos to [...]
HUD announced on Friday January 15th that they are instituting a 1 year waiver of the 90 day seasoning rule for FHA funding of properies.
Here is the Press Release from the HUD Website:
HUD No. 10-011
Lemar Wooley
(202) 708-0685
FOR RELEASE Friday January 15, 2010
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help [...]
Continue reading about FHA Waiver of 90 Day Seasoning Requirement A/O Feb 1, 2010
