Help For Homeowners – Something Borrowed?

August 11, 2010

There may be a new flood of foreclosures coming.  It won’t have anything to do with the Option ARM Mortgages that are currently resetting.  Take a look at this article posted at www.naca.net Source: By Kevin Drum, MotherJones.com, ref. Andy Kroll The Obama administration’s program to address home foreclosures, HAMP, has been a pretty dismal [...]

Read the full article →

Qualified Written Request Day

July 14, 2010

Let’s declare September 18th to be National Qualified Written Request Day and encourage every homeowner to send a QWR to their mortgage servicers;  in honor of the Bear Sterns collapse that lead to the mortgage debacle.  Copies to the White House and Congress would also be a nice touch. The Real Estate Settlement Procedures Act [...]

Read the full article →

HAMP (THE OBAMA PLAN) Analysis Taking 6-9 Months

July 9, 2010

I was in court Wednesday for a status conference.  The case involves a Foreclosure.  US Bank versus my client.  After I filed an Answer to the Complaint and Counterclaims.  The Parties set about trying to resolve the matter through the Milwaukee County Foreclosure Mediation Program, conducted by Marquette University Law School. In accordance with the [...]

Read the full article →

Take Root Milwaukee – Foreclosure Help

July 1, 2010

The City of Milwaukee is one of the first cities to receive grant money to help stop foreclosures under new federal guidelines.  Take Root Milwaukee cooperates with local businesses and non-profits in the housing industry to provide advice and guidance for those facing foreclosure. One glaring omission; not one word about the law.  Nothing about [...]

Read the full article →

Foreclosure Prevention Workshop June 25 & 28

June 9, 2010

Our friends at Greenpath ask us to pass along the info for their upcoming Foreclosure Prevention Workshop in Madison, WI Foreclosure Prevention Workshop:  PLANNING IN DIFFICULT TIMES Learn about programs to help you manage your mortgage . Leave with tools and resources to help you make informed decisions Where: Urban League @ the Villager Mall [...]

Read the full article →

Homeowners Due Money From Bank of America

June 7, 2010

According to an announcement released today from the Federal Trade Commission, Bank of America has agreed to pay $108 Million to abused homeowners. Bank of America will pay $108 million to settle federal charges that Countrywide Financial Corporation, which it acquired nearly two years ago, collected outsized fees from about 200,000 borrowers facing foreclosure. The [...]

Read the full article →

Eight Years of Foreclosed Home Inventory

April 26, 2010

According to the Wall Street Journal an 8 year inventory of foreclosed homes exists, LPS Applied Analytics estimated that foreclosures would create so much market supply that it would take 103 months to liquidate it. As of March, banks had an inventory of about 1.1 million foreclosed homes, up 20% from a year earlier, according [...]

Read the full article →

HUD Redefines “Foreclosed” to Include Mortgages 60-Days Behind

April 5, 2010

HUD is changing what we’ve all understood to be the traditional meaning of foreclosure. The federal agency announced Friday that it is changing how it defines foreclosed to include properties in default and abandoned to include homes with lingering code violations. Your browser may not support display of this image. Effective immediately, HUD is classifying [...]

Read the full article →

New HAMP Rules Benefit Bankrutpcy Filers

March 26, 2010

Mortgage Servicers can no longer ignore mortgage modifications under HAMP (Home Affordable Modifications Program) for those in active bankruptcies.  Additionally the new directive allows Consumer Bankruptcy Attorneys to request an analysis under HAMP and the Servicer MUST comply. Supplemental Directive 10-02 marks a significant change in Treasury’s HAMP policy with respect to borrowers in bankruptcy. [...]

Read the full article →

Bank of America Mortgage Modifications to Offer Reduced Principal

March 24, 2010

Bank of America will on Wednesday announce plans to start forgiving mortgage loan principal for troubled homeowners who owe more than 120 percent of their home’s value or are battling ever-expanding “negative amortization” loans. According to a summary of the program obtained by Reuters, Bank of America pledged to offer an “earned principal forgiveness” of [...]

Read the full article →

← Previous Entries

Next Entries →