SHOCKER!! Buyer of a short sale doesn’t own the property he just purchased (or does he?). Seller of the short sale paid off the wrong party (or did he?). The below email was sent to Neil Garfield at Living Lies. Sadly this is not shocking at we know of two other lawsuits where the seller [...]
Bank of America to pay $8.5 Billion
June 30, 2011 By Leave a Comment
On the surface this looks like a win for the investors who lost billions when they bought lousy and in many cases FAKE mortgage backed securities. But the question for Henry Homeowner who is wrestling with his own mortgage woes is, what does this mean to me? Will I benefit from this “win”? I have [...]
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 [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 2
June 7, 2010 By 4 Comments
Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the negatives and then finally what to do with Equator. Thinking about taking on a new short sale? REALTORS take note, Equator is the new “in thing” for Bank of America and [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 1
June 4, 2010 By 13 Comments
This is an update on Equator. We now have the top Tips and Trap to be sucessesful versus failure. CLICK HERE FOR BANK INSIDERS TIPS & TRAPS. Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the positives…up next the negatives [...]
Bank of America’s mortgage write-down scam
March 28, 2010 By 1 Comment
You think BoA will write-down your mortgage to what your house is worth? Maybe. Then again maybe not. Friday was a day of rejoicing for many homeowners who saw the press releases touting that Bank of American will writedown your mortgage balance to the actual value of your home. Hold the champagne. According to The New York [...]
Toxic Titles: Part Two – “Don’t mind me if I put an extra lien on your home”, says bank.
December 14, 2009 By 1 Comment
Continuing the “Toxic Title” issue The second nasty title cloud appears when homeowners have modified their loan or taken the dreaded “HomeSaver Advance” which was rampant the last few years. Let’s examine the result of a typical HomeSaver Advanced deal. Imagine falling several payments behind and now you owe the bank $8,000 in past due [...]
