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Yes, you have a responsibility to present yourself in a light most beneficial to yourself!
dtod.wordpress.com — I review many self implemented Offers in Compromise to the SBA, Banks and other creditors, and I am frequently amazed at what I see. Friends, are you not paying attention? You are in default. You are being foreclosed on or collected against, at the very least. You are facing liquidation and ... (more) Yes, you have a responsibility to present yourself in a ...
The Big Gov’t Mortgage Mod Program: The Latest Numbers
onthehillblog.blogspot.com — The administration’s $75 billion mortgage modification program is meant to help 3 million to 4 million homeowners avoid foreclosures. The latest data, out Tuesday, shows mortgage servicers are making some progress toward this goal, but big questions remain about how effective the program will be. (more) The Big Gov’t Mortgage Mod Program: The Latest Numbers
FORECLOSURE ACTIVITY SLOWS FOR THIRD STRAIGHT MONTH
realtytrac.com — By RealtyTrac Staff October Foreclosure Activity Down 3 Percent From Previous Month, Up 19 Percent From October 2008 IRVINE , Calif. – November 12, 2009 – RealtyTrac® ( realtytrac.com ), the leading online marketplace for foreclosure properties, ... (more) FORECLOSURE ACTIVITY SLOWS FOR THIRD STRAIGHT MONTH
Foreclosure notices hit record 8,800
Foreclosure notices hit record 8,800
mortgage.freedomblogging.com — ForeclosureRadar.com reports that outstanding foreclosure auction notices in Orange County rose to 8,895 at the end of September, the highest in this housing downturn and probably the highest ever. September’s total was up 5% from August and 90% from ... (more) Foreclosure notices hit record 8,800
Foreclosure Truth
foreclosuretruth.com — I’ve talked in the past about some of the approaches to rescuing the housing market and providing economic stimulus, such as the Treasury Department lowering mortgage interest rates , the California Foreclosure Prevention Act , the Countrywide ... (more) Foreclosure Truth
Video: Fewer Americans Losing Their Homes
marketnewslive.blogspot.com — Fewer people are losing their homes according to the results of a new survey released by RealtyTrak. Over 332,000 households, or roughly one in 385, received a foreclosure notice in October, down 3 percent from September. (more) Video: Fewer Americans Losing Their Homes
Govt’s Attempt to Push Transparency for Mortgage Mods Falls Short
onthehillblog.blogspot.com — Last week, the Treasury Department took a step to address those concerns: For the first time, it issued guidelines requiring mortgage servicers to give homeowners details about why they’ve been denied. But the required disclosure will only be partial, and housing advocates say that means servicers’ (more) Govt’s Attempt to Push Transparency for Mortgage Mods ...
Wow, judges now nixing lenders’ foreclosure claims entirely in court
hf-implode.com — " One surprising smackdown occurred on Oct. 9 in federal bankruptcy court in the Southern District of New York. Ruling that a lender, PHH Mortgage, hadn’t proved its claim to a delinquent borrower’s home in White Plains, Judge Robert D. Drain wiped out a $461,263 mortgage debt on the property. ... (more) Wow, judges now nixing lenders’ foreclosure claims ...
Anecdotes on reckless lending at WaMu from the Seattle Times
creditwritedowns.com — In its headlong pursuit of growth, WaMu systematically dismantled or weakened the internal controls meant to prevent the bank from taking on too much risk WaMu’s riskiest loans raked in money from high fees, but because the bank skimped on making sure ... (more) Anecdotes on reckless lending at WaMu from the Seattle Times
Foreclosed And Getting Scammed? Don't Do What This Couple Did
Foreclosed And Getting Scammed? Don't Do What This Couple Did
dailybail.com — Video: Foreclosed Couple & Friends Charged With Beating & Torture Of Loan Modification Agents Facing foreclosure and getting scammed by loan mods?  Grab some friends and committ torture. From Reuters As Los Angeles housing advocates launched a campaign warning of ... (more) Foreclosed And Getting Scammed? Don't Do What This ...
Do not hide out. The importance of effective communication and follow through.
dtod.wordpress.com — I was talking to a banker yesterday representing a sizable bank with a dedicated workout department, Special Assets they call it, and she commented about a particular borrower whom they were reluctant to give us a workout opportunity, let alone a resolution. I went to speak with her personally ... (more) Do not hide out. The importance of effective ...
I object to the use of a BPO (Brokers Price Opinion). Do not all into this trap!
dtod.wordpress.com — In negotiating a workout, in many situations, the conclusion is an amount based primarily on your ‘liquidated net worth’. What else could it be? It is the only reasonable measure of what the result would be in a real defaulted bank loan, foreclosure and liquidation by auction, the ... (more) I object to the use of a BPO (Brokers Price Opinion). Do ...
When does the collateral become the propery of the bank?
dtod.wordpress.com — There is one obvious answer, after foreclosure. Until that moment the borrower has title and the bank cannot sell or liquidate anything, the borrower is in total control. Almost true, but not quite. The moment in time that the owner gives up, decides to shut is doors, close down, the ... (more) When does the collateral become the propery of the bank?
Default Notices: Movin' on Up!
calculatedriskblog.com — Here is some more on a theme we've been discussing ... From Carolyn Said at the San Francisco Chronicle: Default notices rising in upper echelon ZIPs (ht Hymn) In upscale communities such as Los Altos, Greenbrae and Alamo, where median prices top $1 ... (more) Default Notices: Movin' on Up!