October, 2009

Chris Adams, McClatchy Newspapers, Gets It! Servicers Suck!

Chris Adams, McClatchy Newspapers, Gets It!  Servicers Suck!

The motive, he said, was simple: force people into foreclosure as a way to earn higher bonuses. "We would call the customers and ask them what bridge they were going to live under," Ocwen's Ron Davis testified. ... (Continue reading)

Loan Modifications: 500,000 or 1200? All right… ENOUGH is ENOUGH.

Loan Modifications: 500,000 or 1200?  All right… ENOUGH is ENOUGH.

Of course, I’m no real estate expert, but maybe… just maybe… our government should step in and do something about the crimes being perpetrated by banks and mortgage servicers against homeowners and our nation every day in this country. ... (Continue reading)

BREAKING NEWS! CA STATE BAR PUBLISHES GUIDANCE FOR LAW FIRMS ON SB 94

BREAKING NEWS!  CA STATE BAR PUBLISHES GUIDANCE FOR LAW FIRMS ON SB 94

Tweet Wading through ambiguities in language in order to interpret the legislative intent of a new law isn’t easy, but the moral of the story is that it can be done, and thanks to the combined efforts of the attorneys... (Continue reading)

AP Reports: Government Overstated Jobs Created by Stimulus by Many Thousands

AP Reports: Government Overstated Jobs Created by Stimulus by Many Thousands

And I most definitely want the $28.3 million that the administration was about to piss away on a company offering to staff a call center with a handful of underachievers that will answer questions like: “How do I find the... (Continue reading)

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How to Talk to People Who Don’t Understand the Foreclosure Crisis… if You Absolutely Have to.

How to Talk to People Who Don’t Understand the Foreclosure Crisis… if You Absolutely Have to.

And you do… absolutely have to, I mean. It’s important because until more Americans come to understand what’s really going on in this country today, we’re not going to be able to stop it. And until we stop... (Continue reading)

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See, That’s What I’m Talking About – Banks are Broke & Broken

See, That’s What I’m Talking About – Banks are Broke & Broken

According to FDIC, the program was established a year ago at the height of the financial crisis, and was intended to “help thaw the freeze in bank-to-bank lending,” and it’s obviously been very effective in that regard. Mark that... (Continue reading)

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TARP Chief Elizabeth Warren Says We’ll Never Know Where TARP Funds Went

TARP Chief Elizabeth Warren Says We'll Never Know Where TARP Funds Went

Elizabeth... damn it. That doesn't make any sense and you have to know that. First of all, I would argue that you don't have to ask in advance where your $700 billion will be going because IT's $700... (Continue reading)

California Bar Journal Runs Ads for Loan Mod Firms? Seriously??

California Bar Journal Runs Ads for Loan Mod Firms? Seriously??

So, come to find out that the California Bar Journal is running ads for a company called “Nice Mod,” a DRE licensed company that presumably accepts no money until the client’s mortgage has been modified, paid off in full, and... (Continue reading)

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Get Over It America???

Get Over It America???

2. Goldman must either start lending like a bank, or it's not allowed to keep its status as a "Financial Holding Company," which is what allows it to put more than $125 BILLION at risk without having to worry about... (Continue reading)

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Massachusetts Judge Rules Against Wells Fargo and U.S. Bank – Threatens Millions of Foreclosures

Massachusetts Judge Rules Against Wells Fargo and U.S. Bank – Threatens Millions of Foreclosures

The judge also said that fixing the documents after the fact, which is what Wells Fargo and U.S. Bank did in the case he was ruling on, isn’t kosher, and I can’t believe that Wells or U.S. Bank would think... (Continue reading)

Bringing Up the Rear – Ex-NAR Chief Economist David Lerah

He says he's retired, but can you retire from lying? Can you be a retired liar? How would anyone know for sure when you retired? ... (Continue reading)

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Gov. Arnold Rips the California Bar a New One: Refuses to Sign SB 641

Gov. Arnold Rips the California Bar a New One: Refuses to Sign SB 641

There’s no question now, but that the Bar is going to have to fix up their own glass house before their going to be allowed to collect dues from their members, and since they’ve been spending so much of their... (Continue reading)

SPOTLIGHT ON LAS VEGAS: Paladin Legal Advocacy Center

SPOTLIGHT ON LAS VEGAS: Paladin Legal Advocacy Center

There are lots of options available to homeowners in financial trouble today, and the most important point, according to both Zach and Rory, is that foreclosure is never the right choice.... (Continue reading)

A Time for Good Judgement-The Jury is In and We NEED Judges to Modify the Way Banks Behave

There's no question that we NEED to reform the bankruptcy code to allow judges to modify the mortgages on primary residences. Why? If you have to ask, you're not paying attention...... (Continue reading)

Cioffi & Tannin, Bankers That Broke The World, Part 2

Cioffi & Tannin, Bankers That Broke The World, Part 2

From the beginning, the banking lobby has tried to blame this crisis on everyone but the banks. It was the banking lobby that started the P.R. campaign that blamed borrowers… then they blamed mortgage brokers… then sub-prime lenders… everyone... (Continue reading)

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SPOTLIGHT ON ARIZONA FIRM: Real Estate Consulting Services

All in all, I wanted to list REC because I've heard from quite a few people that its become hard to tell who you can trust in the Phoenix area, and when you need a loan modification, the last thing... (Continue reading)

Gov. Schwarzenegger Does the Right Thing: Signs SB 94 and Vetoes AB 764

Gov. Schwarzenegger Does the Right Thing: Signs SB 94 and Vetoes AB 764

I have to say that I was not originally in favor of SB 94's provisions on advance fees, as I saw the language and what I thought to be the original intent as being harmful to homeowners as I saw... (Continue reading)

Cioffi & Tannin: Future Household Names, if Anyone Still Owns a House in the Future

Cioffi & Tannin: Future Household Names, if Anyone Still Owns a House in the Future

It would seem that they told themselves that the Funds' bleak prospects would change, come around, and that their incomes and reputations would remain intact. Just a couple of months later, on June 9, 2007, when the Funds' collapse... (Continue reading)

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Norma Garcia, Consumer Reports Magazine: Stupid is as Stupid Does

Norma Garcia, Consumer Reports Magazine: Stupid is as Stupid Does

Does it bother you to realize how much more time you’ve dedicated to caring about who loses three grand, as compared with how much time to spend worrying about who is losing a house at this very minute? Did... (Continue reading)

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If Governor Signs AB 764, Homeowners Won’t Be Able to Hire Attorneys When Losing Homes

If Governor Signs AB 764, Homeowners Won’t Be Able to Hire Attorneys When Losing Homes

I’ll jump in with an answer to that one: Because the banking lobby isn’t interested in promoting those… they’re only interested in promoting stuff about loan modifications because they don’t want homeowners to have professionals helping them when attempting... (Continue reading)

Phoenix Breaking News: NACA’s Save the Dream Tour Personnel Threaten Mandelman Matters Reporters: “Leave or We’ll Have You Arrested”.

Phoenix Breaking News: NACA’s Save the Dream Tour Personnel Threaten Mandelman Matters Reporters: “Leave or We’ll Have You Arrested”.

While Phil was talking with Marks a woman came into his office crying tears of joy. “Thank you, thank you,” she said. “I’ve been trying to get my loan modified for eight months now, and I was finally... (Continue reading)

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NACA’s “Save the Dream Tour” Now Disappointing Thousands in Phoenix?

NACA’s “Save the Dream Tour” Now Disappointing Thousands in Phoenix?

So, as you might expect, our single mom tried to call her Wells Fargo representative at the number she had been given while she was saving her dream two months earlier… but she was never put through to her. ... (Continue reading)

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Mandelman’s Monthly Museletter: Issue 4.0

Mandelman’s Monthly Museletter: Issue 4.0

1. A Trial Period Modification is NOT a Modification 2. Mandelman’s Mandates… 3. Bernanke Blathers… 4. A Deflationary Spiral That Dreams of Being a Standstill 5. How’s the President Doing With His Whole Loan Modification Thing? 6. How About a Principal Reduction? Why yes,... (Continue reading)


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