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 [...]
November 2 Foreclosure Sale Date. 5,463 set to go?
November 1, 2010 By 1 Comment
Although some of the largest mortgage banks (servicers of mortgages) such as Bank of America, Wells Fargo, Chase and GMAC have announced in varying releases that they are halting foreclosures while they review their procedures, they haven’t stopped posting and prepping to auction off over 5,000 homes in the Greater Houston Area. How many folks [...]
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 [...]
List of Lenders targeted by Texas Attorney General
October 6, 2010 By Leave a Comment
The following is the list of mortgage servicers (lenders) that have been initially targeted by Texas Attorney General Greg Abbot’s office for possible foreclosure fraud. If your loan is in a foreclosure status or you have been wrongfully foreclosed within the last four years please seek assistance immediately. – The Bank Slayer Last updated 11 [...]
Mortgage Banks ignore Texas Attorney General, foreclose at will
October 6, 2010 By 1 Comment
Looks like the banks collectively thumbed their noses at the Texas Attorneys General Office and marched forward with foreclosures yesterday, except for GMAC/Ally. The Houston Chronicle caption reads… “Foreclosure sales go forward as Texas AG pushes moratorium“ But here at BustMyBank we predict that the banks’ excrement is about to make physical contact with an [...]
Texas Attorney General calls for halt of all foreclosures
October 5, 2010 By 15 Comments
“Texas Attorney General Greg Abbott called for a halt on foreclosures Monday amid nationwide scrutiny over the way they are processed.” The fraud in the mortgage industry has finally hit a raw nerve. 27 mortgage servicers have just been put on Notice to HALT the sale of foreclosures and homes in the foreclosure processes. Mortgage [...]
Houston area foreclosure stats for September 2010
September 3, 2010 By 1 Comment
Tuesday, September 7th is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure Posted foreclosures for the Greater Houston Area total 6,689 which is a 43% jump from last month’s 4,478. Galveston County continues to rocket forward with a 53.7% increase over August’s posted foreclosures. Fort Bend County was [...]
Houston area foreclosure stats for August 2010
July 27, 2010 By Leave a Comment
Tuesday, August 3rd is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure 226 – Brazoria County (Pearland, Alvin, Lake Jackson, etc.) 586 – Fort Bend County (Missouri City, Sugar Land, Richmond, etc.) 244 – Galveston County (Galveston, Clearlake, Texas City, etc.) 3,361 – Harris County (Houston, Pasadena, Baytown, [...]
Fannie Mae requiring borrower to be more credit worthy. Say it isn’t so!
May 5, 2010 By Leave a Comment
Citing the need to protect borrowers from mortgage payments that potentially balloon out of control, Fannie Mae is putting forward new standards for the purchase and securitization of adjustable-rate mortgage (ARM) products. Why stop now? You have unlimited U.S. taxpayer money. Everyone NEEDS to have a home. More loans, more loans, more loans. A mortgage [...]
No Trust in the Trustee – Rigging foreclosure auctions for profit
May 3, 2010 By Leave a Comment
“There is no trust in this business” said the foreclosure trustee. Scary huh? This isn’t some fictional story. This is real life in Harris County, Houston, Texas. Recently, members of our team confronted the Trustee that was about to auction off the homestead of one of our clients. In our hand was the Temporary Restraining [...]
