My local newspaper reports on the treachery of the mortgage servicers and lenders
The uncontrovertible truth that servicers make more money from a foreclosure than mortgage modification or short sale was finally noticed by my home-town newspaper. A reporter attended the Mesa County foreclosure auction and was struck by the outrageous prices bid by lenders, and that almost none of them sell to investors at those auctions.
Read MoreShort Sale Success for Distressed Homeowners and Frustrated Real Estate Agents
This article is a must read for any distressed homeowner considering a short sale. While written for any real estate agent considering short sales as a marketing tactic, it is an excellent post for anyone faced with a distressed property.
Read MoreAnecdote about a successful, professional mortgage modification company
I thought I was the only one who was treated like a crook and a card cheat when I talk about the mortgage modification and short sales I represent. Nope. Turns out we all get the same reaction. It doesn’t change our motivation or desire to achieve though. We know we’re in the right.
Read MorePoor distressed homeowner (Read: Careless banks) get Mortgage Modification extension
No one involved in the mortgage modification industry believes for a minute that it is the distressed homeowners who need this extension. No one believes for a second that it is the homeowners who are failing to get supporting documents to their lender to complete their mortgage modification approved.
Read MoreProfessional Short sale now just as fast as mortgage modification
The short sale and mortgage modification application and process are increasingly becoming identical. Although the official federal rules don’t
take effect until April, the noose is tightening around reluctant and treacherous lenders who obfuscate, delay, and avoid professional distressed mortgage assistance.
Who really believes the mortgage modification failure is the fault of the distressed homeowner?
The proven data show that the nation’s largest lenders have used every conceivable tactic to delay and refuse beneficial, affordable mortgage modifications.
Read MoreTax implications of The federal Mortgage Debt Relief Act of 2007
Homeowners who refinanced their homes, spent that equity outside the home, and then short sold them are the ones who will suffer the most financially in the tax assessments.
Read MoreThe Better Business Bureau knows less than you do about Mortgage Modifications
Here then is a primer on why the Better Business Bureau is NOT the place to do your research if you are a distressed homeowner.
Read MoreYour mortgage modification and ‘net present value’ calculation
the distressed homeowner or housing counselor will never see the NPV calculation. The attorneys I represent don’t see it either. But we can and do reverse engineer the calculations based on the hundreds of successful mortgage modifications we have acheived.
Read MoreFederal Reserve Board, Regulation B, and the neglected mortgage modification applicant
The Federal Reserve has caught up with non-enforcement of their own policies and is now doing something about it. Martin Andelman relates the History of Regulation B and the result on his blog today. I’ll start at the end and go backwards so as to take away the suspense.
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