Tonight’s episode of NBC Evening News reports on one of the largest yet bailouts….the bailout of Fannie Mae and Freddie Mac.
NBC news reports that more than half of the mortgages in the US are owned or underwritten by the federal government…now consider that in the context of the foreclosure crisis.
Why should the obscene conduct being [...]
Tonight’s episode of NBC Evening News reports on one of the largest yet bailouts….the bailout of Fannie Mae and Freddie Mac.
NBC news reports that more than half of the mortgages in the US are owned or underwritten by the federal government…now consider that in the context of the foreclosure crisis.
Why should the obscene conduct being [...]
From Mandelman Matters Blog: Mandelman Blog A few weeks ago, Fannie Mae issued an outright threat to homeowners in this country, creating a new rule that would punish anyone who stops paying their mortgage and walks away from their home, referred to as a “strategic default,” by not allowing those who choose that path to [...]
Then you say it’s bad for communities, Terrence, why do you think that’s the case? I mean… bad is a relative term, wouldn’t you agree. And, in terms of doing bad things to communities, aren’t you guys at Fannie Mae pretty much the poster children? Like if the Olympic Games had a “Damaging Communities” event, wouldn’t you guys at Fannie be like the Michael Phelps of gold medalists, at the very least?
NOTE: Working on one of my expert declarations I figured I would share my computations with the readers. In order to protect privacy I am deleting any identifying information. In this case there was a $1 billion offering of non-certificated mortgage backed securities, which is a fancy way of saying there was no certificate, just [...]
A growing number of the people whose homes are in foreclosure are fashioning a sort of homemade mortgage modification, one that brings their payments all the way down to zero.
Mortgage – Foreclosure – Mortgage modification – Business – United States
That NOTICE OF DEFAULT is probably not what it appears. It is probably an unauthorized document based upon incorrect financial data, and fabricated or useless documents. That ASSIGNMENT might look good on its face but it probably has no legal effect. California Reconveyance is suspect for the following reasons The notice of default usually says [...]
Since the entire scheme was based upon using money advanced by investors, why are they not the beneficiaries on the mortgage or deed of trust and why were they not the payee on the note? The investors would not have advanced any money without getting a certificated or non-certificated interest in the pool of assets [...]
Editor’s Note: Hard to say which way this will go, but it SHOULD go negative for Moody’s, Fitch and Standard and Poor’s. This was appraisal fraud at the OTHER end of the lending chain. Investors were misled as to the value of the security not only because the home appraisals were inflated, and not only [...]
IF THE PRETENDER LENDER DOES NOT HAVE THE POWER, AUTHORITY, RIGHT TITLE OR INTEREST TO EXECUTE A SATISFACTION OF MORTGAGE, THEN THEY HAVE NO RIGHT TO FORECLOSE IT. HERE IS ARIZONA’S STATUTE ON SATISFACTION OF MORTGAGES: NOTE THE REFERENCES TO LOST NOTES VERSUS LOST MORTGAGES. 33-707. Acknowledgment of satisfaction; recording A. If a mortgagee, trustee [...]
As mortgages get more expensive, more would-be homeowners are priced out of the market — a threat to the fragile recovery in the housing market.
Mortgage – U.S. Housing Market – Business – United States – Financial Services
YOU DON’T NEED TO BE DELINQUENT TO SETTLE OR MODIFY. It might just be a good time to pick up the phone right now and call the servicer, trustee, or whoever is saying they have your loan (even though they don’t) and make a deal. Think about it first. Don’t be too generous to them [...]
March 25, 2010
U.S. Plans Big Expansion in Effort to Aid Homeowners
By DAVID STREITFELD
The Obama administration on Friday will announce broad new initiatives to help troubled homeowners, potentially refinancing several million of them into fresh government-backed mortgages with lower payments.
Another element of the new program is meant to temporarily [...]
The Obama administration on Friday announced a major reworking of its troubled $75 billion plan to prevent foreclosures. The revamped program is now designed to aid jobless homeowners and people who owe more on their mortgages than their homes are worth.
Mortgage – Foreclosure – Presidency of Barack Obama – United States – President
Editor’s Note: Principal reduction can be achieved in more ways than one. Here Non-profit Lenders see the clear opportunity to buy mortgages from dubious sources and then enter into new mortgages with the homeowner thus preventing eviction and restoring the homeowner to non-distress status.
The problem here is that title is not clear and eventually [...]
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