Loan Modification Treachery Continues

January 27, 2012

Distessed homeowners anticipating that a clogged foreclosure pipeline would persuade their mortgage servicers to negotiate loan modifications are out of luck. According to Moody’s Investors Service, as lenders work through more and more of their foreclosures, they’re still avoiding loan modifications in favor of short sales and deed-in-lieu (DIL) transactions. Among lenders with high loan [...]

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Get ‘Free Houses’ in Utah

January 14, 2012

Utah Attorney Walter Keane is the lawyer that filed four quiet title claims last year, which means he was seeking to obtain a court order granting clear title to the properties in question. And all four were granted by the Utah courts.

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Federal Testimony that the Mortgage Servicers want your Home for Free

January 11, 2012

These guys (banking lobbyists) are coming in two, three, four times a day. They’ve got their position papers, and they just keep slamming in the same direction over and over and over. And people that want to advocate for American families, that want some changes, or want to level the playing field just don’t have that kind of lobbying power.

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Published proof from inside the banks that they want to foreclose on you

January 11, 2012

Half of the distressed homeowners I counsel are convinced there is no reason for their lender to foreclose on them. Those of us in the business have known for months that foreclosure is exactly what their lender has in mind. Here is proof that your bank wants your home.

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More corrections on misconceptions about Loan Modifications

January 11, 2012

Time for another correction of the half-accurate information about mortgage modifications typically posted on the internet.

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Short Sale efficiency and motivated buyers and sellers

January 11, 2012

Indirectly, it points out the advantage to using an efficient investor who can close on your distressed property immediately. It boils down to time efficiency.

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NBC Opens the Door on Mortgage Servicer Treachery Even More

January 11, 2012

Here is an NBC/MSNBC Special Report that collects much of the same conclusions – except the REST Report – as a successful remedy.

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Homeowner Education on Suit for Broken Chain of Title, aka Corrupt Title

January 11, 2012

In order for a residential mortgage to be properly securitized within a trust, the note needs to have been properly assigned by ALL parties to the transaction. You will rarely, if ever find that the parties, A, B, C, D etc. made the proper assignments of the mortgage or deed of trust or transfers of the note. What typically happens, however, is that the foreclosing party will “magically” find the “missing” assignment at the last minute before a trial claiming improper assignment from party A to D.

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Parallels between short sale and mortgage modification

January 11, 2012

An experienced short sale investor can mitigate all of the mortgage deficiency, based on the demonstrated mortgage owner hardship. That is a huge advantage to selling to an investor.

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Robo-signer Mortgage Fraud too endemic to hide

January 11, 2012

It hasn’t taken long for the responsibility finger to be pointed at the nation’s biggest banks for mortgage fraud in the Robosigner scandal. The national media is treading lightly, but those who have followed the mortgage modification mess for the last few years are writing about it already. We need to pay attention for our own good.

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