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 [...]
ASC / Wells Fargo HAMP rant. A date on the WRONG line?!?
September 21, 2010 By Leave a Comment
America’s Servicing Company (“ASC”) / Wells Fargo look for any possible ways to deny loan modifications. We have a client who had previously submitted their 66 pages of “loan modification required documents” in all its glory to ASC. But then you know the drill…months pass by and many, many, many, more documents are faxed since [...]
Short Sales on a fast track?
September 20, 2010 By 2 Comments
H.R. 6133, “Prompt Decision for Qualification of Short Sale Act of 2010″ has been offered in the House but will it go anywhere? Kudos to the National Association of Realtors for their support of a housing initiate that could help the mortgage/housing crisis, if it passes AND has some teeth. We don’t need another sissy [...]
August sets record for foreclosures
September 16, 2010 By 2 Comments
This is bad news for REALTORS & homeowners trying to sell retail and short sales. Mortgage companies are moving more quickly to foreclose. But as the article below points out, “fewer than one-third of homes repossessed by lenders are on the market.” At least they are holding on to their inventory and not dumping it [...]
FHA short sales…hurry up and wait
September 14, 2010 By 2 Comments
FYI..if your short sale is an FHA loan then tell everyone to sit tight unless the buyers are ready to counter up to the FULL amount of the bank’s counter or the Agreement To Participate letter. When your short sale offer is less than HUD wants then you must request a variance to be approved [...]
Dealing with the hostile judicial bench
September 13, 2010 By Leave a Comment
Last week, The Gore Law Firm scored four Temprorary Restraining Orders agains various banks. Congrats but frankly it is hard, very hard to convince a Judge that someone who is not paying their mortgage should not be foreclosed upon – even if the bank hasn’t produced a vaild note. Why? Simply put a homeowner/borrower is [...]
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 [...]
AHMSI robbing homeowners…is American Home Mortgage Servicing Inc your servicer?
September 2, 2010 By 29 Comments
AHMSI is near the top of our personal list of mortgage servicers (the “mortgage” company that collects the payment) that routinely “loses” payments, “misapplies” property tax payments, and forecloses after collecting multiple payments under what homeowners thought was a forbearance or loan modification. Finally, Texas Attorney General Greg Abbott’s office has caught on to these [...]
