In Texas we have noticed foreclosures in the name of MERS have suddenly become VERY rare. We haven’t run across one in several months. Does this mean MERS has vanished? Nope, but the mortgage servicers are downplaying the role of MERS and trying to shield MERS and themselves from the bright light. This means you [...]
Short Sale Nightmare: Seller & Buyer sued by Fannie Mae & MERS
July 14, 2011 By 1 Comment
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 [...]
Short Sale + Mortgage Insurance = Problem
May 5, 2011 By Leave a Comment
Mortgage insurance adds another and potentially difficult step to closing out a short sale. Why? Quite simply it adds another approval needed in the short sale approval process. When negotiating with the bank for a short sale it may appear that the assigned negotiator is the person that you are dealing with but only on [...]
What is the Prompt Decision for Qualification for Short Sale Act of 2011?
April 18, 2011 By Leave a Comment
NAR is touting a new bill the “Prompt Decision for Qualification for Short Sale Act of 2011” which has been introduced in the U.S. House of Representative and will mandate that mortgage servicers respond to short sale requests within 45 days! Sounds good but guess what? They already tried this once. It was called Prompt [...]
ForeclosureHamlet.org aka Lisa Esptein’s Response to Nationwide Title Clearing Cease and Desist Letter
April 1, 2011 By Leave a Comment
The letter below shows EXACTLY how the banks and their lawyers try to twist the facts and scare homeowners as well as consumer advocates into accepting their lies. The blogs referenced in this response letter are credible and valuable in the foreclosure defense arena. Statements like: “A paralegal at the now defunct law firm of [...]
Two different lenders own my mortgage??????
March 10, 2011 By 1 Comment
Talk about a title NIGHTMARE. As you will see below in a blurb from April Charney, a large national servicer (U.S. Mortgage) STOLE mortgages belonging to credit unions for which they were servicing the Notes. ($142 million worth of loans!!!). U.S. Mortgage sold the loans to Fannie Mae and kept all the money but kept [...]
MERS owns your mortgage or not?
March 8, 2011 By 1 Comment
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 [...]
Holiday Foreclosure Freeze? No, not for Texas.
December 13, 2010 By Leave a Comment
Although Fannie Mae, Freddie Mac and several other large lenders are claiming a Holiday Gift with their self imposed foreclosure freeze sadly it won’t help Texans one single bit! This “gift” is nothing more than a shameless attempt at improving their poor public image. Why won’t it help Texans? Because although they will suspend foreclosures [...]
MERS look-up tool link added!
December 1, 2010 By Leave a Comment
MERS® InvestorID System is accessible to homeowners to look-up their loan. MERS (Mortgage Electronic Registration System) has made available to the general public their Servicer Identification System. While most folks know the name of the Servicer of their mortgage it now identifies the INVESTOR of the loan as well. It’s easy to look up your [...]
Freddie Mac & Fannie Mae own over 240,000 homes. Where’s my employee discount?
November 10, 2010 By Leave a Comment
No wonder Freddie Mac and Fannie Mae need billions each month just to stay afloat. They need to manage/sell over 240,000 homes! Yep, almost a quarter of a MILLION homes have been foreclosed since 2008. To get an idea of the volume of homes they need to sell let’s do a quick comparison to the [...]
