It seems the mortgage servicer giants, while claiming they’ve done nothing wrong and their processes are pristine, are hiring “documentation experts” by the thousands. Seeing as how the banks never checked the records (i.e. backgrounds) of the mortgages they foreclosed on, I doubt they’ll check the backgrounds on these newly hired “documentation experts.” So fear [...]
RE Financial Bubble Coming From Title Insurers
October 11, 2010 By Leave a Comment
This article, http://www.cnbc.com/id/39617381, is excellent analysis of what our arguments with the mortgage companies have been about—to the letter. It also addresses how this next wave of uncertainty might affect the real estate market. One potential exposure that we are concerned about that others haven’t yet pointed out is in the title insurance business. We [...]
Bank of America Sued In Texas For Abusing Homeowners with Misinformation and Misdirection
July 8, 2010 By 1 Comment
For the most part BAC Home Loans Servicing, LP is the pits. Faxing documents several times in a row because BAC “lost them” or got a new fax number has been the norm for a long time. Before Equator kicked in (which is a whole other story) Bank of America was consistently the slowest servicer [...]
Flood insurance extended again and is retroactive
July 1, 2010 By Leave a Comment
FINALLY!!! For those in our area that work the direct coastline like Galveston, Brazoria, Chamber & Jefferson County this is a much needed “bill.” The U.S. Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. The House already [...]
Congress approves 3 month extension of tax credit for buyers
July 1, 2010 By Leave a Comment
Hot off the AP press…collect your checks as you pass go WASHINGTON — Congress has sent President Barack Obama a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring. The legislation would give buyers until Sept. 30 to complete their purchases and qualify [...]
Taylor Bean & Whittaker chairman Lee Farkas Charged with Securities Fraud
June 16, 2010 By Leave a Comment
If your mortgage was funded or serviced by Taylor, Bean & Whittaker then it needs to be audited. TBW was notoriously difficult to deal with in the final stages of its life and closing a short sale or loan mod was near impossible as no one seemed able to pull the trigger. Well now the [...]
REALTOR faces jail time for bad Short Sale
June 16, 2010 By 3 Comments
Over and over we counsel agents against “gaming” the system to make extra money. In Houston, we are aware of a “Short Sale Specialist” that works both sides of the transaction to make more money. BEWARE!! As an agent you have a fiduciary responsibility to your homeowner/seller. DO NOT try to “flip” the property to [...]
Neil Garfield to join E.J. Simonsen on CNN 650 – LIVE 7am – June 14th
June 13, 2010 By Leave a Comment
Join us on Monday, June 14th at 7am CDT. Tune into the broadcast and hear E.J. Simonsen, from Home Solution Counselors & Neil Garfield, from Living Lies take your calls regarding foreclosure defense and loan modification. Listen live in the greater Houston area on 650 AM or live via digital feed anywhere at www.CNN650.com or [...]
Countrywide Will Pay $108 Million for Overcharging Struggling Homeowners
June 7, 2010 By Leave a Comment
BAC Home Loan Servicing and Countrywide are just plain crooks. While there is nothing wrong with a lender taking control of a situation with an abandoned home (per the powers granted to them in your deed of trust/mortgage that you signed at closing) the rampant mark up of fees and side dealings like this have [...]
Forensic Mortgage Loan Audit Scams: A New Twist on Foreclosure Rescue Fraud says FTC
June 7, 2010 By Leave a Comment
The latest foreclosure rescue scam to exploit homeowners is a forensic mortgage loan audit says the FTC. They should have said MAY BE a scam. What the FTC doesn’t tell you is that it is only a scam if there is no value to the audit. A good audit will analyze your loan not just [...]
