The Other Foreclosure Menace
The national news is plastered with articles about people losing their homes due to delinquent mortgage payments. Fred Schulte from the Huffington Post reports on another way people are losing their homes to foreclosure for much smaller amounts of money. When people fail to pay property taxes, city liens etc, the municipalities sell these […]
Phoenix foreclosures attract Canadians
Marty Hope from the Calgary Herald reports on Canadian money coming back into the market. Because Canadian currency is increasing in value relative to the American dollar, Canadians are coming into the US and buying property in droves. Now, it’s not just because of the strength of the Canadian currency that is ringing our friends […]
A Band of Brothers!
The Tampa Bay Business Journal brings us an article that reports on how our government is giving our government the right of first refusal when buying bank owned properties! Have I confused you? HUD will give local communities a 2 day notice when properties are going to be sold at auction by banks. Local communities […]
Florida’s Foreclosure Mills Make National Headlines!
Brady Dennis from the Washington Post reports on how several Florida Foreclosure Mills are the target of several high powered congressional democrats. They are urging Fannie Mae (who hires the firms to foreclose on people) to eliminate them from their payroll. The congressional representatives argue that these firms are not only engaged in fraudulent business […]
Is GMAC The First Of Many?
Everyone has probably heard of the fiasco that GMAC has created for them by rubber stamping affidavits that has allowed/allows them to foreclose on properties. During a deposition, one of the signers admitted under oath that he was not personally familiar with what he signed when completing affidavits. As a result, there has been some […]
Why You Will Never Accuse Me Of Being A Politician!
If you want to know why I will never be a politician, read the article written by Robert Selna of the San Francisco Chronicle. A bill that was introduced to the California state legislature is in danger of not passing. The bill is designed to force lenders to fully consider a loan modification prior to […]
Think Outside of the Box!
Tammy Joyner from the Atlanta Journal Constitution brings us a story about perseverance. Beverly Davis of Atlanta had her house foreclosed upon in August of this year. Most people would have rolled up in a ball and given up. Because Georgia has a redemption period, Ms. Hill decided to sell corn bread and corn bread […]
Nearly 50 percent leave!!!
While the article is short, the message is very clear. Martin Crutsinger from the Associated Press reports that nearly HALF of all people that entered into Obama’s loan modification program are no longer part of it. Over 630,000 people have been “cut loose” from the program since it started in March 2009. One might say…well […]
Cram This!!!
The Palm Beach Post takes a look at what a contributing solution could be regarding underwater mortgages. That solution involves principal reduction, not just interest rate reduction. While Obama has delivered another flavor of the month program, it does give lenders that have mortgages backed by the government the ability to refi underwater mortgages to […]
Double Trouble!
Foreclosure process doesn’t stop during short sales When I started reading the article written by Jason Hidalgo, I was hopeful of its content. It starts off with a case study where a realtor working on a short sale was unaware of the fact that the lender was still proceeding with the foreclosure while a short […]
Foreclosure Mistake??
Harriet Johnson Brackey from the Sun Sentinel brings us a story from South Florida that just adds to the comedy of errors that we hear about. Apparently Jason Grodensky purchased a home in Ft. Lauderdale for cash yet Bank of America decided to foreclose on him anyway…..even though he didn’t have mortgage! Fortunately for Mr. […]
Bank reverses foreclosure for Va. family with very ill child
As of late, banks have been demonized in the press for committing rampant fraud against homeowners for falsifying documents. While that may true, the attached article demonstrates that that is not always the case. Henry Cauvin from the Washington Post brings us an article that describes how Chase reversed a foreclosure of a home owned […]