Blown Mortgage: Loan Modification

Home -> Law Blog Directory -> Loan Modification Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Loan Modification

Blown Mortgage

Blowing the lid off the Mortgage Industry
By Morgan Brown

Post Frequency: 12.5/day

Last Entry: April 29, 2010 at 09:23:46

Requirements to Qualify For An Obama Mortgage Refinance Loan

Posted on July 07, 2009
Requirements to Qualify For An Obama Mortgage Refinance Loan Are you in trouble with your Mortgage, Loan or would just like to take advantage of the current Government?s desire to give borrowers a break on their mortgage? If that is the case you are far from alone...

Bucking the mortgage modification trends

Posted on July 07, 2009
Mortgage modifications are supposed to be a win-win situation. Homeowners lower their monthly payments and get to keep their homes. Mortgage lenders, minimize loss by allowing the homeowner to hold onto their property than they would if the property went into foreclosure...

Fed study: Obama mortgage plan should give money to borrowers, not banks

Posted on July 07, 2009
A study by the Boston Fed has found that the administration?s mortgage rescue plan has failed to provide that all important profit incentive. According to today?s Boston Globe: Mortgage lenders don?t try to rework most home loans held by borrowers facing foreclosure because it would probably mean losing money...

More than half of homeowners have remodeling plans this year

Posted on July 03, 2009
It looks like it going to be a busy year for do-it-yourselfers. A new poll from Consumer Reports reveals that 54 percent of homeowners participating in the poll plan some type of remodeling project during the next 12 months. Sixty-five percent of them plan to do the work themselves...

To access this complete feed in the blog feed reader login or register for free.

HUD Expands Making Home Affordable Eligibility

Posted on July 02, 2009
On July 1, 2009, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced an expansion of the Making Home Affordable Refinance Program to include borrowers who are current but up to 125 percent underwater on their mortgage. The announcement was made while the Secretary toured a Las Vegas neighborhood with Senate Majority Leader Harry Reid (D-NV) and Congresswoman Dina Titus...

Is Trust Returning to the Mortgage Industry?

Posted on July 01, 2009
“The economy is based on trust,” said Dean Johnson, associate professor of finance at Michigan Technological University in Houghton, Michigan. In situations like the recent housing bubble, or even the stock market collapse of 1929, where markets were driven by debt and fueled by the false expectation that values can only increase, trust can be a very fragile thing...

Recovery? Mortgage apps down, prime delinquencies up

Posted on July 01, 2009
Today is the day the recovery starts, at least according to those peering into the rosiest-colored crystal balls. The Wall Street Journal dug up these great examples: Most forecasters seem to expect growth to be weak for a few quarters, but then rebound back to trend in the second half of 2008? ?Lehman Brothers research note, Dec...

New Report Links Foreclosures and Homelessness

Posted on June 30, 2009
?Local reports indicate that homelessness is on the rise and this report [Foreclosure to Homelessness] gives us insight into the role that foreclosures may be having on that increase,? said Nan Roman, president of the National Alliance to End Homelessness...

Subprime Bananas

Posted on June 28, 2009
A great post from Homegrown Evolution on one of the surprising benefits of the housing meltdown: fresh fruit. That’s right. The blog thanks Mr. Mozilo for creating our very own ‘Banana Republic’ as rundown homes and unmanned irrigation systems create the perfect environment for the growth of amazing tropical delights...

Why is Citigroup still in business?

Posted on June 26, 2009
It?s been quite a week for Citi. Tuesday it walked into a feces storm of its own making by announcing it would raise salaries by 50% to offset cuts in bonuses. To be fair to Citi, they are taking (well-deserved) crap for the entire industry on the salary issue...

41 Charged as Mortgage Fraud Hits Condos & Suburbs

Posted on June 24, 2009
Federal law enforcement officials recently announced charges have brought against 41 defendants in five separate cases in Chicago. The cases involve more than $48 million in fraudulently obtained mortgages for dilapidated homes in urban areas as well as deals involving million dollar condominiums in a Chicago high-rise and sprawling homes in affluent suburbs like Wheaton and Glenview...

Roubini: No confidence in government exit strategy

Posted on June 24, 2009
In this Bloomberg segment Dr. Nouriel Roubini shares his thoughts on why pundits proclaiming the stabilization of the housing market are wrong and why the current policy path is unsustainable and likely to have a messy exit. My favorite part? The idea of our debt ballooning from 40% GDP to 80%...

Goldman bonuses largest in firm?s 140-year history

Posted on June 22, 2009
The Guardian is reporting that Goldman Sachs staff�can expect the largest bonuses in the firm’s 140 year history as the investment bank has leveraged (pun intended) dwindling competition and the brokering of US debt issuances to massive first quarter profits...

No ?green shoots? in employment

Posted on June 21, 2009
Unemployment rose in nearly every state in the nation in May, with many reaching record unemployment levels not seen since 1976. So much for green shoots. If 70% of our economy is driven by consumer spending, and more and more consumers are out of work, how exactly are we coming out of this mess? Where is the driver going to come from? Even with the government doing everything it can to keep the printing presses pumping out money there isn’t a viable way to easily replace that massive consumer spending...

Roubini: Obama banking reforms get it 75% right

Posted on June 20, 2009
Nouriel Roubini thinks that the new Obama banking reform plan gets it 75% right. �This in a video interview on Yahoo! Finance. �His one caveat is that the previous Fed under Greenspan had all the power, but didn’t care about managing risk, they wanted innovation at any cost...

Don?t bet on the consumer

Posted on June 17, 2009
All this green shoot talk and pronouncements that the worst is over fails to take into account the sorry state of the US consumer. �Sure indicators may be turning (are they really?) but the fact remains that the US consumer, the same people responsible for 70% of our nation’s GDP are still in a world of hurt...

From the obvious dept - regulators incompetent

Posted on June 16, 2009
USA Today, playing Captain Obvious, has an article that highlights how federal regulators failed to properly oversee banking institutions and missed key warning signs of the meltdown as early as 2005. �The FDIC blames the OCC (Office of the Comptroller of the Currency)�and other regulatory bodies for incompetence and indifference in the face of mounting problems at small banks that should have been the canaries in the coal mine for broader systemic issues...

Student loans make living with debt a harsh reality for college grads

Posted on June 15, 2009
Great visualization of the average student loan debt carried by students coming out of college across the country. �Amazing that most states’ averages are more than $15,000 per student. �It’s tough to bash people for not saving enough when going to school automatically puts you in the hole as you enter the workforce...

California Foreclosure Prevention Act goes into effect tomorrow

Posted on June 15, 2009
The state of California is imposing a 90-day moratorium on all foreclosures as part of the new California Foreclosure Prevention Act that goes into effect tomorrow. �The law requires that lenders prove they tried to modify a borrower’s loan before initiating foreclosure proceedings...

Largest Bankruptcies in History

Posted on June 14, 2009
GOOD Magazine has a great graphic representation of the biggest bankruptices in history. (click link for bigger size) Check out Lehman bro’s $691 billion BK, more than 7 times the size of GM’s recent bankruptcy. (h/t Boing Boing for the image)

Abracadabra Obama

Posted on June 12, 2009
I remember going through a phase where I wanted to learn how to do card tricks to impress my friends and members of the fairer sex. �I read several books on the subject and the number one thing to learn is to get the observer’s eyes off the deck of cards...

California 50 days from government meltdown

Posted on June 11, 2009
California has 50 days until the government melts down under the pressure of the $24.3 billion budget gap. That according to the state’s controller, John Chiang. And the problem isn’t getting any better. State revenues were off nearly 18% in May the state was off an additional billion dollars from the current budget...

Where?s Wells Fargo in the TARP repayments?

Posted on June 10, 2009
We reported earlier that 19 banks were OK’d by the Treasury to pay back the TARP funds that were injected in to them during the first round of the bailout. According to the naked capitalism here are the banks that passed stress tests and will get to pay their TARP funds back: The institutions are the following: Passed the stress tests: JPMorgan Chase & Co...

Incoming! 19 banks to repay TARP funds

Posted on June 09, 2009
The Treasury announced today that 19 banks have been allowed repay a total of $68 billion in TARP funds. The banks, who remain nameless were granted permission to buy back the warrants that the Treasury holds in each company at “fair market value...

Long-term unemployment woes increasing rate prime mortgage foreclosures

Posted on June 09, 2009
As the unemployment rate continues to grow it is hitting an increasing number of people who had prime mortgages. The result is a huge increase in foreclosures among primes. In the first three months of the year, prime fixed-rate loans accounted for nearly half of the increase in foreclosure proceedings, according to the Mortgage Bankers Association...

Stay or Go? Freddie Mac changes offer homeowners more refinancing choices

Posted on June 08, 2009
?We are responding to consumers’ desires to have more refinancing options,? said Freddie Mac Executive Vice President Don Bisenius. ?As an added benefit, we are expanding the program and providing greater flexibility in financing closing costs. Freddie Mac is committed to doing everything we can to bring the benefits of the Administration’s Making Home Affordable program to as many borrowers as possible...

Lewis: We?ve arrived at a point of madness

Posted on June 07, 2009
Excellent interview with Michael Lewis who talks about his days at Solomon and how the 1980’s were really the start of this era of greed and malfeasance that led to the economic calamity we’re currently going through. �He goes on with the following insight regarding the players in the game that portends future disaster (h/t HuffPo): …one of the things that’s odd about the current situation is that the people who created the problem are so powerful in deciding what the solution to the problem is going to be...

The Tale of Two Countrywides & Maybe Bank of America

Posted on June 04, 2009
?This is the tale of two companies,? Robert Khuzami, Director of the Security and Exchange Commission’s (SEC) Division of Enforcement explained in a public statement announcing the filing of financial fraud charges against Countrywide Financial CEO Angelo Mozilo and two other former executives...

Texas Blames Federal Government for Mortgage Crisis

Posted on June 03, 2009
The majority of Texans surveyed voluntarily blame the federal government for causing the current economic crisis. Results from a survey of 800 Texas registered voters released by the� Texas Credit Union League (TCUL), Texans point the finger at some aspect of the federal government more than they do at private business or individuals...

California trys to deter loan modification and foreclosure rescue scams

Posted on June 03, 2009
California foreclosure consultants and loan modification companies must post a $100,000 bond and register with the state to legally operate, effective July 1, 2009. This according to a news release by California Attorney General Jerry Brown. The move is aimed at bringing some transparency and accountability to a cottage industry filled with scam artists and ripoff shops who prey on homeowners desperate to save their homes...

Previous | Next

Related Law Bulletins

Two Homes, Two Mortgage Contingencies, Two Loan Applications, but only One Loan, Who Wins?
Topic: Real Estate Transactions The Appeals Court of Massachusetts...

TWO HOMES, TWO MORTGAGE CONTINGENCIES, TWO LOAN APPLICATIONS, BUT ONLY ONE LOAN, WHO WINS?
Topic: Real Estate Transactions The Appeals Court of Massachusetts...

Filing Date is What Matters When Determining Parties to Name in Mortgage Foreclosure
When a lender makes the decision to foreclose on its borrower&#821...

Homeowners Have Added Protection Against Mortgage Fraud
Albany, NY: The Governor of New York, Eliot Spitzer, is an advocat...

Qualifying for a Mortgage
Here's the formula banks use to determine how much mortgage you ca...