I along with a lot of other short sale and foreclosure blogger have gotten little bit more than impatient with the programs that promise plenty but deliver little for folks in need. I have talked to many loan officers and asked them about the FHA foreclosure refinance programs that were supposedly out there. The feedback I have always gotten is yea they have those but they designed to never happen. . . . → Read More: FHA program a Foreclosure Refinance? Think again…
 Leave a comment  Foreclosure refinance, Loan modifications  Andy Morris, August 6th, Bait And Switch, Best Solution, Borrowers, Current Administration, Equity Positions, Fha Foreclosure, Fha Loans, Fha Program, Fha Refinance, Futile Attempt, Hertzog, Hud, Loan Officers, Negative Equity, Principal Balance, Realty Trust, Refinances, Trust Services North Eastern Ohio Delay Foreclosure Method 1 – Bankruptcy is a kind of “ace in the hole” for delaying foreclosure. It happens in Federal court so it trumps any kind of local court action. It has even been used to stop a sheriff sale on the morning of the sheriff sale. Of course you should avoid living that dangerously. . . . → Read More: 6 ways to delay foreclosure in North Eastern Ohio Part One of Two Leave a comment Buy foreclosed home, Cleveland foreclosures, Cleveland short sales, Delay foreclosure, Forclosure options, Foreclosure defense, Foreclosure defense, Loan modifications, Short sale help, Stay in my house, Uncategorized, bankruptcy Ace In The Hole, Attorneys, Bankruptcy Court, Banks, Borrowers, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Do The Right Thing, File Bankruptcy, Foreclosure Process, Instances, Law Changes, Local Court, Money, Mortgage Bankruptcy, Mortgage Debt, Mortgage Holder, Ohio Bankruptcy, Sheriff Sale, Trumps In 2009 Bank of America was one of the worst of the worst lenders to do a short sale with. No professional wanted to work a short sale with them because if you were lucky you could get a short sale done in 6 months and that only with a lot of follow up and . . . → Read More: Bank of America to get it's act together The Wall Street Journal and news outlets have released information on a new program to keep your home and lower your payments. The full details have not been released but it is an overhaul of the HAMP program that will have some of the following options: 1. A new option in HAMP that allows . . . → Read More: New program: Keep your home lower your mortgage balance! Leave a comment Uncategorized Adjustable Rate Mortgage, Andy Morris, Banks, Borrowers, Current, Exceptions, Fha Loan, Foreclosure, Implementation, Late Payments, Lenders, Loans, Mortgage Balance, New Option, Ohio Real Estate, Options, Period Of Time, Plea, Real Estate Broker, Refinances, Wall Street, Wall Street Journal Is your home upside down? Do you feel locked in your home? There is good news! Reuters reported, Treasury sets guidance to simplify “short sales”. The HAMP website released “Supplemental Directive 09-09” which is the new guidelines for servicers doing short sales (HAFA short sale details here – HAFA means Home Affordable . . . → Read More: 2010 The Year of The Short Sale- Breaking news! – Supplemental Directive 09-09 4 comments Uncategorized Bank of America Short Sale Help, Bank of America short sale trouble, Bated Breath, Beneficial Solution, Borrowers, Breaking News, Fannie Mae, Fantastic News, Fear, Foreclosure, Freddie Mac, Guidance, Half A Day, Hamp, Home Retention Division, Home Sellers, Homes Sales, HRD, Investors, Lenders, Loan Portfolios, Loan Servicers, Mortgage, Page Directive, Real Estate Agent, Reason, Reuters, Short Sale, Short Sales, Sifting Through, Supplemental Directive 09-09, Treasury, Upside Down, Walks Workers.com has a pertinent blog post here which I found (Coalition wins foreclosure victories). I think it highlights number one the importance of homeowners searching out help. In one example a homeowner battled along with Michigan Moratorium NOW! Coalition to Stop Foreclosures, Evictions and Utility Shutoffs and neighborhood activists to delay foreclosure and to . . . → Read More: Homeowners need to reach out for help and participate actively in their foreclosure defense… 2 comments Cleveland foreclosures, Cleveland short sales, Delay foreclosure, Forclosure options, Loan modifications, Short sale help, Stay in my house Attorneys, Borrowers, Ceo, Court Victory, cuyahoga county, Email Campaign, Eviction Proceeding, Evictions, Failure, Foreclosure Defense, Foreclosure Help, Foreclosure Loan, Foreclosures, Loans, Macomb County Circuit Court, Moratorium, Neighborhood Activists, People, Privileges, Rallies, Wins Dennis Murray (D-Sandusky) introduced House Bill (HB) 323 to Ohio’s House of Representatives. This bill on the draconian side for banks. It would require a brisk time line for banks to move a home from foreclosure court filing to bringing it to sheriff sale… if they don’t follow the time line apparently the lender will have the mortgage liens removed from the property and lose any rights to the proceeds of the sale of the property. . . . → Read More: Ohio cracks the whip on bank foreclosure filings Leave a comment Cleveland foreclosures, Cleveland short sales, Forclosure options Affidavit, Bank Foreclosure, Bank Foreclosures, Banks, Borrowers, Complexity, Conservative Tradition, Constitutional Expert, Contact, Cracks, Dennis Murray, Expert, Extra, Financial Incentive, Financial Sense, House Of Representatives, Lenders, Leverage, Limbo, Mortgage, Much Money, Owner Ship, Ownership Interest, Proceeds, Sandusky, Time Line, Time Lines, Whip The Wall Street Journal had on article here about Wells Fargo’s loan modification strategy for it’s portfolio of negative amortization “pick a pay” loans which allowed owners to make interest only payments or even less while the balance would grow and while equity has shrunk… especially in this market. Wells Fargo has nearly $107 . . . → Read More: Wells Fargo picks and prays re pick and pays Leave a comment Delay foreclosure, Forclosure options 10 Years, Amortization, Andy Morris, Borrowers, Catastrophe, Fannie Mae, Foreclosure, Guess, Interest Only Loans, Lenders, Loan Modification, Massive Debt, Money, Negative Amortization, Ohio Real Estate, People, real estate, Real Estate Broker, Wall Street, Wall Street Journal, Wells Fargo This article is the second article I have seen today about Ohio Attorney General Richard Cordray suing unscrupolous lenders. According to this source, Ohio leads the nation in suing servicers and holding them to task about the practices they have used to prey on people and ultimately effect entire communities and the state and . . . → Read More: Ohio Attorney General Files 2nd Suit Against Servicers I have written before about bankruptcy and it’s effects on foreclosure in other blog posts. On cleveland.com I found an interesting article: Bankruptcy fails as foreclosure rescue. Bankruptcy does have it’s uses in helping people dealing with foreclosure but practically speaking it will never be a foreclosure rescue. However it has been an excellent . . . → Read More: Bankruptcy fails as foreclosure rescue – cleveland.com One comment Uncategorized 911, Bankruptcy Court, Bankruptcy Plans, Bankruptcy Record, Blog, Borrowers, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debtor, Deficiency Judgments, Double Whammy, File Bankruptcy, Foreclosure, Good Faith, Helping People, Imho, Mortgage Company, Responsible Action |
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