Save Your Home - Save Your Credit

Monday, February 8, 2010

Save Your Home - Save Your Credit

Blog for Realtors

Mind the P&L, as in Payoffs and Liens

This is a re-print of an article I wrote for Real Estate Executive Magazine for this... 

FHA pumps up the commission for brokers

The US Department of Housing and Urban Development (HUD) removed the 1% origination... 

FHA loans are available to Short Sellers!

One of the fears that homeowner have is whether they will be able to secure a new... 

Toxic Titles: Part Two – “Don’t mind me if I put an extra lien on your home”, says bank.

Continuing the “Toxic Title” issue The second nasty title cloud appears when... 

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Blog for Homeowners

Modification is Not for Every Borrower according to a Treasury Adviser

Two questions borrowers frequently ask us, “How did my neighbor get into... 

HAMP’s secret formula in a black box = black hole for homeowners

This is from a rather long article posted by MSNBC.  Here’s a quick summary... 

JPMorgan Chase really, really wants to help borrowers…NOT!

JP Morgan Chase wants to help its Home Equity Line of Credit (HELOC) borrowers who... 

Can I trust my mortgage company?

The simple answer is – If it’s not in writing it, NO. If you have a repayment... 

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Blog for Attorneys

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]

Evidence. Where’s the proof!!!

The biggest mistake most people make is not knowing basic rules of evidence. Testimony from a “copy” is inadmissible. Testimony is inadmissible unless it comes from a witness accepted by the court — not some lawyer lathering up his mouth and using finesse to escape the rules of evidence.   Every witness must be sworn, must have personal knowledge... [Read more of this review]

Can a Retro Appraisal Save the Day?

So-called “retro appraisals” are the latest tool at the disposal of lawyers looking to fight off foreclosure and obtain a favorable loan modification or a short sale for their clients. “The theory is that the financing was based upon a questionable appraisal which the lender approved without proper oversight,” a RetroAppraisals.com release... [Read more of this review]

OJ says he didn’t do it: good enough for WaMu

The article in the Seattle Times about the collapse of WAMU is hilarious.  Thanks to my friend Loren Steffy at the Chronicle for highlighting the madness.  A famous lawyer in New York used to say No Witness, No Case.  WAMU’s behavior flips this one…No ability to pay, No problem.   We catch these guys pulling fast ones ALL THE TIME. Here is... [Read more of this review]