Tag: "Loan Modification"

Banks Kick Consumer’s Butts Once Again – SB 1275 Dies in the California Assembly

Banks Kick Consumer’s Butts Once Again – SB 1275 Dies in the California Assembly

Even though the bill was supported by EVERYONE but the banking lobby, it was rejected 36-30 in the Assembly. Even after it was approved by the state Senate and three Assembly committees. This time… no… but thank you for playing. Nice job, you spineless, worthless, glad-handing, sycophants. Way to throw your constituents under the bus.

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Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach

Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach

Potential Game-Changer Alert… District Court Judge Says Homeowner is the Intended Third Party Beneficiary to the contract between Fannie and servicers… and that means the right to sue yours.

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Florida Attorney General Investigates- Should Judges Shut Down The Foreclosure Mills?

Florida Attorney General Investigates- Should Judges Shut Down The Foreclosure Mills?

The announcement yesterday that Florida’s Attorney General Bill McCollum is investigating the Law Offices of David Stern, Marshall Watson and Shapiro and Fishman for violations of Florida’s unfair and deceptive trade practices act and the announcement that the Attorney General’s Economic Crimes Division is looking into whether these firms have submitted false documentation to courts [...]

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HAMP NPV Analysis Service – Results Remarkable

HAMP NPV Analysis Service – Results Remarkable

The simple truth was and is that I was excited about the prospect of making the REST Report available to homeowners. I’d worked for ten months to make it available, and it was ten months with a front row seat to the ongoing tragic scene that has become the foreclosure crisis. (And look… it’s working even better than I thought it would, so what would you do in my position, sit quietly?)

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New HAMP NPV Analysis Service – Prove the Servicer Wrong!

New HAMP NPV Analysis Service – Prove the Servicer Wrong!

For over a year I’ve known that the crux of the issue for homeowners trying to get a Loan Modification under the federal government’s HAMP program has been the shrouded mystery of the NPV Analysis. The Net Present Value (NPV) calculation is the KEY component of determining whether or not the homeowner gets a trial, and ultimately, a permanent loan modification under the HAMP program. That mystery is now GONE!!

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Attorney Available Posting – SF Bay Area

Attorney Available Posting – SF Bay Area

EDITOR’S NOTE: AFTER MUCH FIGHTING WITH MYSELF OVER THIS I’VE DECIDED TO ALLOW POSTINGS FROM LAWYERS LOOKING TO DEFEND HOMEOWNERS. Here is the first one picked at random. I do not know this lawyer. But I think it is important to start allowing people to see what I see. There are many lawyers out there. [...]

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I Think It’s Now Safe for Me to Speak Out About Loan Modifications and the Secret NPV

I Think It’s Now Safe for Me to Speak Out About Loan Modifications and the Secret NPV

I’ve been waiting for this day for almost a year. The day I could stop beating around the bush and come right out and talk about the “secret” NPV and loan modifications. Because I’ve known about the “secret” since last summer, and I wanted to go public then, but I was afraid the Treasury Department would take me away in a black Suburban, so I shut my mouth and got the REST Report platform ready.

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JPMorgan Chase: We Had So Many Buy-Backs That We Had to Put This Policy in Place

JPMorgan Chase: We Had So Many Buy-Backs That We Had to Put This Policy in Place

CHASE now says that their new policy prohibits the postponing of sales, regardless of the reason, if the request to postpone is made within 7 days… or maybe 5 days… or it could be 2 days (depending on who you talk to at CHASE), before the scheduled sale date.

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House Hearings to Answer Question: Are Loan Servicers Honoring Their Commitments to Help Preserve Homeownership?

House Hearings to Answer Question: Are Loan Servicers Honoring Their Commitments to Help Preserve Homeownership?

Everything’s going just fine. There are no real problems with HAMP or with the servicers who are implementing HAMP. Oh sure, there have been a few challenges, but most of them have been caused by the borrowers who just can’t seem to do a Gad damn thing right.

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Real REST Report Results Remarkable

Real REST Report Results Remarkable

Perhaps no one could say for sure what would have happened had the REST Report not been introduced in the proceedings, but I think you’ll agree that the fact that it was presented to the judge unquestionably made a significant difference in the outcome. And one more homeowner was spared the tragic indignity of losing their home to foreclosure… unnecessarily.

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AG Brown Issues Warnings Re: Short Sales

AG Brown Issues Warnings Re: Short Sales

submitted by Abby 2010/06/17 at 2:25 pm FROM CALIFORNIA ATTY. GENERAL BROWN re: short sales News Release June 17, 2010 For Immediate Release Contact: (510) 622-4500 Contact: Christine Gasparac or Evan Westrup, (510) 622-4500 Christine.Gasparac@doj.ca.gov or Evan.Westrup@doj.ca.gov Print Version Brown Issues Warning about Rise of Short Sale Fraud LOS ANGELES – Attorney General Edmund G. [...]

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Mandelman’s Uncommon Advice for Getting Through the Loan Modification Process Without Losing It

Mandelman’s Uncommon Advice for Getting Through the Loan Modification Process Without Losing It

There’s no point in sugarcoating this… getting a bank or mortgage servicer to agree to modify a mortgage is never a pleasant experience. In fact, it’s pretty much horrible, even when it’s good. You may finish the process with a permanent loan modification, but it’s unlikely that you’ll feel much like celebrating.

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At the Bank of America Signpost Up Ahead, Your Next Stop – The Loan Modification Zone

At the Bank of America Signpost Up Ahead, Your Next Stop – The Loan Modification Zone

A homeowner wrote to me the other day, and I could tell from her emails that she had been through the ringer trying to get a loan modification. I’ve heard from so many thousands of homeowners that I’ve gotten to the point that I could probably guess their lender or servicer just from the tone of their email or voice. This one, however, kept notes of her journey into The Loan Modification Zone, and I couldn’t help but share them… you’ll see why.

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ABA and More Than a Dozen State Bars Ask Congress for Lawyer Exemption on Loan Modification Rule

ABA and More Than a Dozen State Bars Ask Congress for Lawyer Exemption on Loan Modification Rule

“A growing list of more than a dozen state bars and the ABA have asked for changes in congressional legislation aimed at protecting consumers from financial fraud because it contains language so broad that the everyday work of lawyers in various practice areas would be swept into the web of federal regulators.”

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The Article that Started it All: Pigs, Puppets and People in Peril

The Article that Started it All: Pigs, Puppets and People in Peril

Here it is… the first article I ever wrote for The Niche report magazine. Click the linked title below: Pigs, Puppets & People in Peril. Seems like soooo long ago…

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