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 [...]
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
CNBC’s Diana Olick has the breaking story on alleged fraud in the mortgage industry. She has been writing about this for a few days now. See Big Banks Accused of Short Sale Fraud – Realty Check with Diana Olick at CNBC’s website.
Basically, second liens on properties like home equity loans have a blocking interest that [...]
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 [...]
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The problem with loan modifications is re-defaulting. Well, that is only one of many problems with loan modifications but it is certainly one of the most annoying ones for lenders and the Obama administration. This is because loan modifications cost money. They cost money, they take time and this is a complete waste if the [...]
The problem with loan modifications is re-defaulting. Well, that is only one of many problems with loan modifications but it is certainly one of the most annoying ones for lenders and the Obama administration. This is because loan modifications cost money. They cost money, they take time and this is a complete waste if the [...]
Just days after JP Morgan announced it was “returning” five high rise buildings to the lender in San Francisco - in what JP Morgan said was “not a foreclosure or default action” - HUD is telling homeowners they will be locked out of new FHA loans if they pursue a short sale on their underwater [...]
For every loan approved, three more loans are deteriorating, according to Lender Processing Services’ (LPS: 41.18 -0.79%) November monitor report.
LPS provides mortgage performance data and analytics. Its November report provides a summary of mortgage industry performance based on data collected through October.
Of the mortgages that were current through December 2008, 2m or 4.02% fell into [...]
Continue reading about Loans Deteriorate 3 to 1 in October: LPS
