IndyMac is a shady operation – HAMP, we don’t need no stinking HAMP

May 2, 2010 By BankSlayer Leave a Comment

IndyMac is a shady operation.  One of our staff used to be on the inside working against homeowners but (in my words…turned his life around) and now battles for home owners. He tells tales of “being trained” on programs like HAMP and seeing blacked out sections.   When he asked why IndyMac (now OneWest) redacted [...]

Filed Under: Blog for Realtors Tagged With: bubble, CASES, CDO, CORRUPTION, Eviction, expert witness, Fannie Mae, FDIC, foreclosure, foreclosure defense, foreclosure mill, Fort Bend, FSB, FSB and OneWest Bank, HAFA, HAMP, Houston, IMB, IMB Holdings, IndyMac, Investor, Lender Liability, Loan Sale Agreement Between the FDIC as Receiver for IndyMac Federal Bank, Master Purchase Agreement by and among FDIC as Conservator for IndyMac Federal Bank, MODIFICATION, mortgage, Motion Practice and Discovery, neil garfield, OneWest, Purchase and Assumption Agreement, quiet title, realtor, securities fraud, securitization, Securitization Survey, Servicer, Shared Loss Agreement Between the FDIC as Receiver for IndyMac Federal Bank, STATUTES, Texas, trustee, workshop | Tagged: Balance Sheet Summary

Can I get a principal reduction on my mortgage?

April 1, 2010 By BankSlayer Leave a Comment

Sure, with enough firepower you can not only get a principal reduction but shut down the bank from even attempting to collect from you at all. As far as regarding how you “get your principal reduction” in HAMP read on… Remember folks, these changes to HAMP and HAFA and every other program rolled out require [...]

Filed Under: Blog for Homeowners Tagged With: BofA, FHA, HAFA, HAMP, principal reduction, Treasury, writedown

Short Sale’s are gaining traction with Lenders

March 29, 2010 By BankSlayer 2 Comments

For homeowners the choice is VERY CLEAR; short sales do less damage to credit, allow the homeowner to satisfy a large portion of the debt and in many cases allow for the homeowner (who has fallen behind on payments) to live “rent free” while the sale is negotiated. The following article on CNNMoney highlights what [...]

Filed Under: Blog for Homeowners Tagged With: BofA, CNN, Equator, FICO, foreclosure, HAFA, HAMP, Redfin, short sale

HAMP update…we bring you HAFA

March 5, 2010 By BankSlayer Leave a Comment

When are they going to roll out the HEMP program so we can relax while being put through the agony of re-faxing 90 pages of paperwork over and over and over.   You asked for a new and improved HAMP and so now you get HAFA…say it with me now, HAFA, no, no, no, pronounced just like “half [...]

Filed Under: Blog for Homeowners Tagged With: deed-in-lieu, foreclosure, HAFA, HAMP, short sale

FHA loans are available to Short Sellers!

December 22, 2009 By BankSlayer 3 Comments

One of the fears that homeowner have is whether they will be able to secure a new loan to purchase a home in the future after short selling the current one.  The answer is yes.  In fact, the Department of Housing and Urban Development (HUD) released a letter to lenders regarding borrower eligibility for a [...]

Filed Under: Blog for Realtors Tagged With: FHA, HAFA, HAMP, HUD, short sale