Friday 20th November
Home » Archives
Chris Adams, McClatchy Newspapers, Gets It! Servicers Suck!
Written on 31 Oct, 2009 at 12:59
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)
California Bar Journal Runs Ads for Loan Mod Firms? Seriously??
Written on 20 Oct, 2009 at 8:34
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)
Massachusetts Judge Rules Against Wells Fargo and U.S. Bank – Threatens Millions of Foreclosures
Written on 15 Oct, 2009 at 18:25
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)
Gov. Arnold Rips the California Bar a New One: Refuses to Sign SB 641
Written on 14 Oct, 2009 at 3:05
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
Written on 14 Oct, 2009 at 1:46
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)
SPOTLIGHT ON ARIZONA FIRM: Real Estate Consulting Services
Written on 13 Oct, 2009 at 2:02
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
Written on 12 Oct, 2009 at 18:21
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)
Norma Garcia, Consumer Reports Magazine: Stupid is as Stupid Does
Written on 9 Oct, 2009 at 3:27
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)
Phoenix Officers Who Shot Homeowner Needed Better Training
Written on 3 Oct, 2009 at 3:15
First of all, I realize that I wasn’t there. And I understand that the guy had a beer in one hand and a gun in the other. But he was obviously thinking pretty clearly… after all, a couple... (Continue reading)
Mandelman’s Monthly Museletter: Issue 4.0
Written on 2 Oct, 2009 at 5:02
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)
The California Bar’s Scarlet Lawyer List
Written on 30 Sep, 2009 at 6:50
In the press release issued by the State Bar on Friday, Weiner said that the lawyers listed have “allegedly taken fees for promised services and then failed to perform those services, communicate with their clients or return the unearned fees.”... (Continue reading)
Loan Modifications: Obama’s Part of Problem, Not Solution
Written on 29 Sep, 2009 at 6:53
President Obama… we haven’t heard from you on the housing and foreclosure crisis since last spring when you gave a speech to adoring and cheering crowds. You set their expectations way above what your program delivers, your administration has... (Continue reading)
Speech By Asst. Treasury Sec. Barr on President’s Plan to Strengthen Housing Sector… with commentary by Mandelman
Written on 27 Sep, 2009 at 0:52
Barr’s predominantly an academic. He taught at the University of Michigan Law School, was a Senior Fellow at the Center for American Progress and at the Brookings Institute, and it looks like he’s co-written a couple of books with... (Continue reading)
Today’s Weather in India: Low 80’s with 32% Humidity… Not a Cloud in the Sky… In Case You’re Interested.
Written on 26 Sep, 2009 at 20:00
So, I bet you’re wondering how this whole thing happened. Funny story… I was actually trying to get my mortgage modified and since President Obama announced that there was now a fabulous government help-line phone number I could call,... (Continue reading)
Investor Tired of Servicers Not Modifying Take Action
Written on 22 Sep, 2009 at 16:24
Well, as it turns out, one investor, Impac Funding/Impac Holdings, has run a calculator on this and discovered that you’ve been right all along. They would in fact be better off modifying… but they can’t seem to get servicers... (Continue reading)
A Walk Down Memory Lane With President Obama & the Mortgage Crisis
Written on 21 Sep, 2009 at 18:43
As a result, homeowners who begin the process of obtaining a loan modification with expectations largely set by the President, are likely to be disappointed at the outcome, regardless the outcome. ... (Continue reading)
The Unbelievable Price Being Paid by the Prices: SLS and US Bank Need to Be Taught Some Manners
Written on 21 Sep, 2009 at 8:13
And just to add further insult to life-threatening injury, Ms. Reed also received an email from the attorney for U.S. Bank. Apparently, US Bank doesn’t even want to see checks. They simply and unequivocally reject any extension to... (Continue reading)
CALPIRG’s Morillas Proves His Ignorance on Loan Modifications
Written on 19 Sep, 2009 at 17:42
Being a modification service is a hard and thankless job, in part because of dolts like you who stand willing to open your mouth and speak about a subject you know absolutely nothing about in the press. It’s unbelievable,... (Continue reading)
Superior Court Judge Says: HAMP Has NO TEETH
Written on 18 Sep, 2009 at 6:07
The NPV formula is also, according to the HAMP guidelines, to be disclosed and transparent… the two things it’s never been close to being, and which, I’ve been told by a very credible source who didn’t want to be identified... (Continue reading)
UNBELIEVABLE BREAKING NEWS: Senior Couple Being Screwed Royally By Mortgage Servicer – Specialized Loan Servicers
Written on 16 Sep, 2009 at 13:56
You can just imagine what happened next. The Prices began calling the servicer asking to speak with the three representatives that had been speaking with over the last several months… the ones that had told them about the waiver... (Continue reading)
