MERS is the bane of homeowners who simply want to know who really owns their loan and who might really have their Promissory Note. The article below from the The New York Times highlights the flaws and misconduct that is going on behind the scenes and helps explain (in part) why you can’t easily determine [...]
Chase stole mortgage money and foreclosed on troops
January 17, 2011 By 2 Comments
If you are a REALTOR working with a homeowner who is in the military and J.P. Morgan Chase is the mortgage servicer then get ready to rumble. If you are not taking advantage and leveraging the Servicemembers Civil Relief Act (SCRA) then you are trying to do your job with a knife while your enemy [...]
Foreclosure hold is a lie…
November 4, 2010 By Leave a Comment
Although many of the large banks claimed to have foreclosures on hold while they review their procedures it appears they didn’t “hold” back much in the Greater Houston Area. While the number of foreclosed property is slightly lower than previous months it not what I would call a HOLD. More like a slow down. Did [...]
Chase’s deceptive loan modification
October 18, 2010 By Leave a Comment
Press hard, third copy is yours. What did you just sign? Tim Hammond, an experienced REALTOR in the Greater Houston area, posed a question to our team last week. He heard mortgage servicers are mass mailing loan modifications (and/or mass mailing approvals for loan mods), especially to those folks facing foreclosure. Is this true? Since [...]
Robo-signers: Apply here – No experience necessary
October 13, 2010 By 2 Comments
Can’t you just see the ads? Anyone can now be a foreclosure expert! No experience, license or training required. Yes, you can make money at home (or in an office) with a full time job working for a bank!! Only requirements for this job are sight and upper limbs, so you can see where to [...]
Bank of America’s foreclosure halt hurts many
October 12, 2010 By Leave a Comment
The fact that Bank of America has claimed to halt foreclosures in all 50 states is significant. It is likely only a matter of time until the other big banks capitulate and offer some type of foreclosure freeze as well. What will be the outcome? It remains to be seen but for now there are [...]
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 [...]
Stewart Title locks down foreclosure sales
October 11, 2010 By Leave a Comment
In our own backyard of Houston, Texas, Stewart Title clamps down on foreclosures sales. About time! Shabby title records, no true chain of custody in the property records, bogus affidavits and robo-signer assignments. Hello? Time to take a stand! Hats off to Stewart for publicly admitting, via a clamp down, that something is fishy in [...]
Title problem arise from robo-signers. Do you have a defective title?
October 9, 2010 By Leave a Comment
You know it’s bad when your own title company won’t insure properties you foreclosed. The Palm Beach Post in Florida is reporting that one of the country’s largest foreclosure mill, the Florida Default Law Group’s own title company, New House Title is rejecting properties that FDLG previous foreclosed. New House Title claims that due to [...]
FAQ on Texas AG Demand Letter to Mortgage Servicers to Halt Foreclosure Activity
October 6, 2010 By Leave a Comment
The following FAQ is a reprint of the FAQ provided to Texas Realtors and on the affect to various types of foreclosure related transactions such as REO sale, Short Sales, Evictions and Foreclosures. >>>>> TAR – FAQForeclosureMoratorium100610 Much of this remains to be seen but it is worth reading and noting possible issues that may [...]
