Save Your Home - Save Your Credit

Tuesday, March 9, 2010

Blog for Realtors

Lenders fear or can’t buy back loans from FREDDIE MAC

If you are dealing with a short sale situation involving Freddie Mac (and I suspect... 


$8,000 tax credit is just not enough if you can’t sell your home

The website, Housing Predictor carries some interesting commentary and at times casts... 


Lenders pursue homeowners after Foreclosure or Short Sales

REALTORS, be very, very careful when negotiating with the mortgage companies.... 


Fannie Mae not complying with Tenant Protections?

As a REALTOR it is important to understand the protections available for renters... 


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Blog for Homeowners

Wilshire Credit Corp now part of IBM

IBM announced that it has finalized its acquisition of the core operating assets... 


HAMP can help foreclosures but increases risk

Why does HAMP help and hinder?  Simple.  Borrowers hope and believe that HAMP will... 


Not making a choice, is a choice. Don’t take it lying down.

“In uncontested cases, most still slip by” Thanks to Tom Lyons, at the Herald... 


HAMP update…we bring you HAFA

When are they going to roll out the HEMP program so we can relax while being put... 


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Blog for Attorneys

GMAC commingled cash. What about the mortgage itself?

If GMAC and other mortgage servicers have no qualms about commingling funds for which they have been entrusted (by investors); it is easy to understand they have no problem jerking a single homeowner around with his loan modification or short sale.  Anything to make a buck. - The Homeowners Hero NEW YORK, March 4 (Reuters) – Moody’s Investors... [Read more of this review]


Lien stripping in action, let’s just get rid of the unsecured part, shall we?

David Leibowitz posted a short blurb on stripping liens from a property.  Bottom line is that the “underwater portion” of a mortgage may be fair game as it is unsecured.  This is a huge benefit for investor or the average homeowner who also has a rental property or two.  Too bad it is not readily accepted for homesteads (yet). Although bankruptcy may... [Read more of this review]


Midland Mortgage grants 37.5% reduction in rate for homeowner

Loan modifications offered through HAMP can be beneficial for some homeowners but if the homeowner is denied for HAMP or the offer is unacceptable, litigation may be an option.  This is a more costly alternative but in most cases results in more beneficial and permanent modifications. Recently we helped homeowners with legitimate hardships due... [Read more of this review]


MERS – Who or What are they?

Recently we came across a great list of data points on MERS.   Prepare to be overwhelmed with the purposeful confusion MERS aims to achieve.  Articles specifically about MERS can be found here. MERS Basic Corporate Information MERS is incorporated within the State of Delaware. MERS was first incorporated in Delaware in 1999. The total... [Read more of this review]


IndyMac sets record for slowest response to RVD!

IndyMac has set a new record (at least in our office) for the longest time for a simple response to a Request for Validation of Debt (“RVD”).   Granted some mortgage companies never respond but as far as actually responding this sets a new bar. We sent a standard RVD to IndyMac, now OneWest Bank, asking to validate the debt for a client.... [Read more of this review]