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 I saw this article appear in the New York Times. States Are Pondering Fraud Suits Against Banks – DealBook Blog – NYTimes.com. I mentioned in a recent article I commented on the fact that often times loan servicers have a higher incentive to foreclose than save borrowers and mortgage investors huge sums of money . . . → Read More: Short sale / Loan modification tip 197: Sue Your Lender One comment Cleveland foreclosures, Delay foreclosure, Forclosure options, Loan modifications, Short sale help Apathy, Article One, Bank Of America, Best Solution, Borrowers, Case Law, Decision States, Diplomacy, Fraud Suits, Loan Modification, Mortgage Companies, Mortgage Investors, New Case, New York Times, Office Of The President, Recent Article, Supreme Decision, Technicality, Tooth And Nail, Work Outs Here are a few more details about the Obama spending plan to help homeowners. I wrote about some of the benefits to the borrower for doing loan mods last week. 1.) The new plan incentives banks to offer plans that the homeowners can actually afford. After 3 months of the homeowner remaining current on . . . → Read More: More benefits to Clevelanders in foreclosure Leave a comment Uncategorized Andy Morris, Bankruptcy Judges, Billion Dollars, Borrowers, Clevelanders, Continuation, Cramdown, Credit Report, Economic Meltdown, Financial Assistance, Foreclosure, Gross Income, Households, Incentives, Individ, Interest Rate, Interest Rates, Lien Holder, Lienholder, Loan Balance, Obama, Objective, Principal Balance, Principal Interest, Principle Balance, Real Estate Broker, Realtor, Spending Power, Target, Tax Burden, Tax Payers, Threshold, Time Value Of Money, Time Value Of Money Formulas, Value Of Money, Video Lesson |
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