Posts Tagged ‘foreclosures’

Now we care about how Steve Mnuchin at OneWest Bank handled foreclosures?

Now we care about how Steve Mnuchin at OneWest Bank handled foreclosures?

Trump's pick for Treasury Secretary is a good one. Yes, OneWest foreclosed more than it should have, but it also got better, becoming one of better servicers when modifying loans. ... (Continue reading)

Fannie Mae CEO Agrees: Trump and Hillary should talk more about housing

Fannie Mae CEO Agrees: Trump and Hillary should talk more about housing

Fannie Mae and I apparently agree on one thing… the candidates are both missing the boat by ignoring future U.S. housing policy in their respective campaigns. ... (Continue reading)

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Thank You Specialized Loan Servicing (SLS) for Helping Mrs. Presterl Keep Her Home

Thank You Specialized Loan Servicing (SLS) for Helping Mrs. Presterl Keep Her Home

Specialized Loan Servicing (SLS) has agreed to provide Mrs. Presterl with a loan modification so she will not lose her home after all!... (Continue reading)

The Foreclosure Crisis is Dead.  Long Live the Foreclosure Crisis.

The Foreclosure Crisis is Dead.  Long Live the Foreclosure Crisis.

RealtyTrac's June foreclosure report puts the best possible face on the foreclosure crisis, instead of admitting that it's far from over... and that HAMP needs to be extended. ... (Continue reading)

Ex-Goldman Execs Now “Help” Foreclosure Victims Buy Homes at 10% (Homes they probably shouldn’t have lost in the first place?)

Ex-Goldman Execs Now

Shelter Growth Capital Partners, founded by ex-Goldman execs, buy foreclosed homes on the cheap and re-sell them for tens of thousands more at 10% interest rates. From the people who brought you the foreclosure crisis... get ready for the... (Continue reading)

Average Home Prices Are Irrelevant for You or Me

Average Home Prices Are Irrelevant for You or Me

Forecast are predicting home prices will fall over the next 2-3 years. Some say by 10 percent, others say as much as 20 percent. Either way, no credible source is saying averages will rise in the 2-3 years.... (Continue reading)

Why Foreclosures Won’t Be Stopping Anytime Soon

Why Foreclosures Won’t Be Stopping Anytime Soon

The reason foreclosures won't stop is that life events won't stop happening, and we're no longer able to borrow our way out of trouble.... (Continue reading)

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California Supreme Court Ruling is an Important Win for Homeowners

California Supreme Court Ruling is an Important Win for Homeowners

California's Supreme Court has ruled... assuming a purchase money mortgage, homeowners don’t have to worry about deficiency judgments regardless of whether foreclosure or short sale.... (Continue reading)

Mortgage Forgiveness Debt Relief Act Extended Again… and Again… and Again

Mortgage Forgiveness Debt Relief Act Extended Again… and Again... and Again

President Obama extended the Mortgage Forgiveness Debt Relief Act through December 31, 2016. The extension is retroactive and covers mortgage debt cancelled in 2015. ... (Continue reading)

SIGTARP Report Says 70% Denied for HAMP Loan Modifications – What’s Going On Here?

SIGTARP Report Says 70% Denied for HAMP Loan Modifications - What’s Going On Here?

It’s unconscionable that the loan modification process be allowed to go on as is. The latest SIGTARP Report to Congress makes it clear that servicers need to be made better, or it is likely that HAMP will be with... (Continue reading)

JUST RELEASED: Kissing Persuasive Lips, a Novella by Foreclosure-Fighting Attorney, Dale Wiley

JUST RELEASED: Kissing Persuasive Lips, a Novella by Foreclosure-Fighting Attorney, Dale Wiley

In the tradition of John Grisham, Dale Wiley’s new novella, Kissing Persuasive Lips, introduces anti-bankster hero, Mick Lord. It's a thriller everyone who reads Mandelman Matters will want to read.... (Continue reading)

Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis “Set to Fade,” and other annoying nonsense.

Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis “Set to Fade,” and other annoying nonsense.

Have we lost 10 million homes to foreclosure yet? Does anyone even care?... (Continue reading)

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OCC Clamps Down on 6 Banks for Noncompliance with 2011 Consent Orders

OCC Clamps Down on 6 Banks for Noncompliance with 2011 Consent Orders

Servicers were cited for failing to respond to borrower requests for loan modifications, not making a good-faith effort to prevent foreclosures and not having systems in place to track progress.... (Continue reading)

What Congress Learned From TARP is Causing the Foreclosure Crisis to Continue

What Congress Learned From TARP is Causing the Foreclosure Crisis to Continue

HAMP is guaranteed to do no more than it has done to-date, and that new defaults and re-defaults will continue to perpetuate the crisis, causing millions more Americans to lose homes unnecessarily.... (Continue reading)

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Foreclosures are UP and Back in the Headlines Again

Foreclosures are UP and Back in the Headlines Again

RealtyTrac just reported that, “bank repossessions hit a 27-month high in April at 45,168, up 50% from a year earlier.” Uh oh... that doesn't sound like it's over, does it?... (Continue reading)

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Bank of America Report: Housing to Start 3-Year Price Decline in 2017

Bank of America Report: Housing to Start 3-Year Price Decline in 2017

A Bank of America analyst has published a report predicting the U.S. housing market will experience “three straight years of “modest” declines starting in 2017.... (Continue reading)

Supreme Court Rules… Homeowners Can’t Strip Underwater Seconds in Ch. 7 Bankruptcy

Supreme Court Rules… Homeowners Can't Strip Underwater Seconds in Ch. 7 Bankruptcy

If you have a second that’s underwater, the Supreme Court has ruled that there’s no more getting out of it through bankruptcy. ... (Continue reading)

Michael “Air” Jordan Sees $15 Mil Disappear into Thin Air

Michael

New home sales are down. They're only a small part of the much larger housing market, but their numbers are important to the U.S. economy in terms of job creation along with being a strong indicator of builder confidence... (Continue reading)

Wells Fargo Got the Message from Mandelman’s DOERS… 72-year-old with Alzheimers Will Die at Home

Wells Fargo Got the Message from Mandelman's DOERS... 72-year-old with Alzheimers Will Die at Home

Thank you to my DOERS who DID SOMETHING to let Wells Fargo know how they felt about what was about to happen to Linda Normand. And thank you to Wells Fargo for DOING the RIGHT THING for Linda... (Continue reading)

Judge Rules Wells Fargo Failed to Comply with 2010 Settlement – Many homes lost unnecessarily.

Why wouldn’t every homeowner demand Wells Fargo be severely punished for disregarding a legal settlement, and for allowing people to lose homes unnecessarily?... (Continue reading)

THE HOMEOWNERS’ ANTHEM – 2015

THE HOMEOWNERS' ANTHEM - 2015

Here lies the body of Mary Lee; tried to modify her loan when she was 33. For over five years she fought to keep her sanity; didn’t tell a soul as a matter of vanity. ... (Continue reading)

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Saxon Settles HAMP Class Action for $4.5 Million… A win for homeowners, LOL

Saxon Settles HAMP Class Action for $4.5 Million… A win for homeowners, LOL

Tweet A class action law suit filed against Saxon Mortgage Services/Morgan Stanley alleged that the servicer improperly denied thousands of California homeowners loan modifications through the federal Home Affordable Modification Plan (HAMP), and as a result, some lost their homes... (Continue reading)

Leave Octogenarians at Home – Stop Evictions after 80.

Leave Octogenarians at Home - Stop Evictions after 80.

Over the last few weeks I’ve learned that we’re a country that actually doesn’t care about people in their 80s that run into financial difficulties. In fact… and as incredible as it may seem, WE EVICT THEM.... (Continue reading)

As Goes California’s Housing Market, So Will Go the Nation’s.

Home sales volume and home prices in Southern California are falling… precipitously. As in… both volume and prices are going down. There are two things I would add to this fact: 1. It’s not just happening here. 2. It... (Continue reading)

The Foreclosure Crisis is Behind Us? Where?  Who says?

Maybe the mainstream media has simply gotten tired of the foreclosure crisis. It’s not like they’ve ever had a particularly good handle on what’s going on in real life when it come to foreclosures and loan modifications in general.... (Continue reading)

Republicans Want to Kill HAMP – Are they right or wrong?

Are Republicans monumentally insensitive and inconceivably delusional about loan modifications, as their statements might lead many to conclude? Or are Republicans right about HAMP?... (Continue reading)

RealtyTrac: Land mines threaten housing recovery, could trigger surge in defaults.

RealtyTrac: Land mines threaten housing recovery, could trigger surge in defaults.

RealtyTrac has been telling the country about housing recovery and that there’s no bad time to buy a home… now they sound a lot like Mandelman Matters.... (Continue reading)

Court Rules Against the Robinson’s in Quiet Title Case  (You can’t file for quiet title and not invite MERS to the party.)

Court Rules Against the Robinson’s in Quiet Title Case  (You can’t file for quiet title and not invite MERS to the party.)

Or, let’s be honest about this… a more accurate way to describe what happened here, would be to say that the Robinsons didn’t want to notify MERS, because they wanted the default judgment that was likely to result from only... (Continue reading)

RealtyTrac’s Blomquist: The Foreclosure Crisis is Well Behind Us.  Mandelman: Oh, Shut-up Daren. 

RealtyTrac's Blomquist: The Foreclosure Crisis is Well Behind Us.  Mandelman: Oh, Shut-up Daren. 

Frankly, I’m both tired of being proven right and shocked that it hasn't happened sooner and by someone with even more intellectual prominence. Derwood Blomquist just assured the nation that the foreclosure crisis was… what were the exact words... (Continue reading)

University Professors Research Reverse Mortgages, Set Record Straight – A Mandelman Matters Podcast

University Professors Research Reverse Mortgages, Set Record Straight - A Mandelman Matters Podcast

Professor Johnson was actually primarily motivated to study and write about reverse mortgages by the the media's horribly slanted and generally inaccurate coverage of reverse mortgages, and he shares some examples that will make you cringe. A GREAT INTERVIEW FOR... (Continue reading)

Patience is more than just a virtue… it could save your home from foreclosure.

Patience is more than just a virtue… it could save your home from foreclosure.

Here are my 12 RULES for Contacting Servicers... Getting your loan modified is easier today than its ever been… that’s a fact. But coming to the table with the baggage of whatever happened last time will only increase the... (Continue reading)

How & Why to Retire South of the Border (at least Part-Time)

How & Why to Retire South of the Border (at least Part-Time)

If you’ve been reading what I’ve been writing about reverse mortgages over this past year, it should be becoming clear that they are incredibly flexible and can be used for many purposes… from protecting a home from foreclosure in the... (Continue reading)

Loan Modification Misinformation or Lies… I Just Can’t Take Much More of This 

Loan Modification Misinformation or Lies… I Just Can’t Take Much More of This 

It’s been six years since this crisis began, and it’s shocking how far we haven’t come as far as loan modifications are concerned. But, at this point it’s not the servicers that are causing most of the problems… it’s... (Continue reading)

Why Doesn’t Every Realtor in the Country Know About This?

Why Doesn’t Every Realtor in the Country Know About This?

Now, you tell me… why doesn’t every single Realtor in the country know about this older-buyer assistance program from HUD? I know it’s relatively new… since 2009… but that’s still five years ago. How long should it take... (Continue reading)

And Here’s to You Mr. & Mrs. Robinson – Will Quiet Title Hold Up in California?

And Here’s to You Mr. & Mrs. Robinson – Will Quiet Title Hold Up in California?

I just want to point out that California homeowners should not be in any sort of hurry to follow in the footsteps of Robinson v. MERS. While I understand why many homeowners would describe this case in positive terms…... (Continue reading)

IF YOU’RE  62+ AND STILL PAYING A MORTGAGE… Here are 7 Reasons You Can End Up in Foreclosure and How to Protect Your Home Now

IF YOU'RE  62+ AND STILL PAYING A MORTGAGE... Here are 7 Reasons You Can End Up in Foreclosure and How to Protect Your Home Now

Now, I’m not saying that anyone should have known about any of this. The fact is that his article, and others I’ve written in the recent past, appear to be the first in the country to propose switching to... (Continue reading)

Mortgage Originations Are Down by 60-70% Year-Over-Year… But Everything’s Okay

Mortgage Originations Are Down by 60-70% Year-Over-Year… But Everything’s Okay

So, the mortgage industry has seen originations fall in a single year by 60-70 percent, but the housing markets are okay, in fact they’re recovering all around us every day, and prices are up. ... (Continue reading)

Use a Reverse Mortgage to Prevent Foreclosure and to Leave Your Home to the Kids Free and Clear

Use a Reverse Mortgage to Prevent Foreclosure and to Leave Your Home to the Kids Free and Clear

In fact, by doing it with a HECM mortgage, you increase your chances of being able to leave your home to your kids free and clear because you’ve eliminated the risk that you’ll end up in foreclosure because you couldn't... (Continue reading)

Why the Media Misinforming Seniors on Reverse Mortgages is Wrong and Even Dangerous

Why the Media Misinforming Seniors on Reverse Mortgages is Wrong and Even Dangerous

And reverse mortgages keep homes safe from foreclosure, and millions of seniors have lost homes from foreclosure over the last five years. Many were denied loan modifications because they had equity in their homes. I can’t help but... (Continue reading)

Finally, Florida & Connecticut AGs Shut Down Mass Joinder Lawsuit Scams

Finally, Florida & Connecticut AGs Shut Down Mass Joinder Lawsuit Scams

The real danger of mass joinder lawsuit scams is that the homeowners wouldn’t find out for several years that they’d been scammed, when finally a court dismissed their suits, and they were harder for authorities to police and shut down... (Continue reading)

Was it worth it?  Yeah, to me it definitely was. (For you maybe the reverse is true.)

Was it worth it?  Yeah, to me it definitely was. (For you maybe the reverse is true.)

If you switch your traditional mortgage to a reverse mortgage and you miss a payment, no one cares… if you miss three payments, no one cares… want to take the whole year off and make no mortgage payments… perfectly fine…... (Continue reading)

I Don’t Care What the Media Says, Housing Market is Horrible, and Homeowners Still Suffering through the Loan Mod Process

I Don’t Care What the Media Says, Housing Market is Horrible, and Homeowners Still Suffering through the Loan Mod Process

I know what sorts of headlines run rampant through the media these days. It’s nothing new… it’s been going on non-stop since at least 2008. It’s also utter and complete nonsense.... (Continue reading)

Even with $2 million in the bank, you should still have a reverse mortgage

Even with $2 million in the bank, you should still have a reverse mortgage

Having saved $2 million in your retirement nest egg is a wonderful accomplishment, and if you’ve done so, you are to be commended. But, it does not mean that you have nothing to worry about when facing what could... (Continue reading)

U.S. News & World Report Presents 4 Alternatives to a Reverse Mortgage

U.S. News & World Report Presents 4 Alternatives to a Reverse Mortgage

If a company was misinforming seniors about reverse mortgages with deceptive advertising in order to sell them on reverse mortgages, everyone would be disgusted and demand that it stop. So, why would anyone be any less outraged with U.S.... (Continue reading)

The 2 Attorneys that Won $16 million Jury Verdict Against PHH Mortgage – A Mandelman Matters Podcast

The 2 Attorneys that Won $16 million Jury Verdict Against PHH Mortgage - A Mandelman Matters Podcast

This is not the first decision that punished a servicer for mistreating a homeowner in the loan modification process, in fact this past year there have been a dozen or more around the country. I think it's safe to... (Continue reading)

Meet the Lawyers who Won $16 Million for CA Homeowner – A Mandelman Matters Podcast

Meet the Lawyers who Won $16 Million for CA Homeowner - A Mandelman Matters Podcast

The last thing I wanted to do, however, was write about the decision as being some sort of major victory for homeowners, only to find out that the decision was overturned on appeal next year, because frankly...... (Continue reading)

Helping a Homeowner Succeed with Bank of America/SPS Loan Mod is Like Mardi Gras in June!

Helping a Homeowner Succeed with Bank of America/SPS Loan Mod is Like Mardi Gras in June!

The homeowner below who wrote to me a couple of days ago to thank me for helping her get her Bank of America/SPS loan modified, is one of the homeowners that I hope I know forever. Because Margaret Saizan... (Continue reading)

Even on Some of the Most Progressive Porches in America, Foreclosures Not Well Understood

Even on Some of the Most Progressive Porches in America, Foreclosures Not Well Understood

Okay, so I decided that I would do it… I’d bring up the topic of the ongoing foreclosure crisis. These were my peeps and it’s not like I don’t know a thing or two about the subject matter… maybe... (Continue reading)

A San Clemente Homeowner Writes to Say Thank You for help with Bank of America Mortgage

A San Clemente Homeowner Writes to Say Thank You for help with Bank of America Mortgage

Thank you Martin in helping us to secure a favorable home loan modification with Bank of America by qualifying our intentions, commitment and ability to meet the new loan obligations as well as assist us to elevate our application to... (Continue reading)

New York Launches New Foreclosure Avoidance Program… Hundreds Could be Saved?

New York Launches New Foreclosure Avoidance Program… Hundreds Could be Saved?

The NYS MAP program will be available in Long Island only starting on September 15th, and elsewhere in the State of New York as of October 15th. Loans made under the program can, among other things, be used to... (Continue reading)

Tampa Bay Times: Stop Lying to My 78 Year-Old Mother!

Tampa Bay Times: Stop Lying to My 78 Year-Old Mother!

Doesn’t anyone think it’s bad form to misinform senior citizens… to scare older Americans away from a source of money that could easily be a couple hundred thousand dollars or more by feeding them inaccurate and misleading garbage disguised as... (Continue reading)

Hartford Beats Out Newark for Most Underwater Mortgages… What to Do, What to Do?

Hartford Beats Out Newark for Most Underwater Mortgages... What to Do, What to Do?

However, as it turns out, Newark’s housing market isn’t in the worst shape of any U.S. city. To visit the city with that distinction, you need to head north from Newark about 125 miles… and when you get to... (Continue reading)

HUD to Resolve Key Reverse Mortgage Issues Going Forward

HUD to Resolve Key Reverse Mortgage Issues Going Forward

How would you like to find out that no one had told you that you had easy access to several hundred thousand dollars, and so not knowing, you made other plans that you didn’t want to make and wouldn’t have... (Continue reading)

Anyone Care to Bet? We’re in a Recession Now or Will Be Soon.

Anyone Care to Bet?  We’re in a Recession Now or Will Be Soon.

Can we connect these dots? Housing market takes a dive, consumer spending craters causing retail earnings to collapse, with underlying employment numbers somewhere south of ghastly.... (Continue reading)

Forced Into Foreclosure – Want to See How it Happens?

Forced Into Foreclosure – Want to See How it Happens?

All they wanted to do was save their home, which seemed to me to be a reasonable thing for them to want since there was no question that they had enough income to make their mortgage payment. They never... (Continue reading)

Here Come the Happy Housing Numbers, but Foreclosures Up Year-Over-Year

Here Come the Happy Housing Numbers, but Foreclosures Up Year-Over-Year

In other words, the housing market hasn’t recovered, and won’t recover because it can’t recover until the underlying fundamentals change, and that won’t happen for a long, long time. It certainly won’t happen as long as we refuse to... (Continue reading)

House committee votes to prohibit FHA from financing homes taken using eminent domain

House committee votes to prohibit FHA from financing homes taken using eminent domain

So, if you take the property legally, you cannot use FHA… but if you foreclose illegally and sell it to a bona fide third party, that buyer certainly can use FHA. And if that makes any sense whatsoever to... (Continue reading)

What’s WRONG with Richard Cordray of the CFPB? Tell Me How Can This Happen?

What's WRONG with Richard Cordray of the CFPB?  Tell Me How Can This Happen?

So, why does Cordray make it sound like he’s describing a problem with reverse mortgages when he’s actually not? Why is he scaring seniors away from a reverse mortgage, when it could transform their lives, or save their homes,... (Continue reading)

Major Media Misinforms, Scares Seniors on Reverse Mortgages

Major Media Misinforms, Scares Seniors on Reverse Mortgages

I can’t help but wonder how many seniors have made less favorable decisions as a result of biased and wholly inaccurate reporting on reverse mortgages, but it’s impossible for me to believe that it’s not quite a few. How... (Continue reading)

The blogger, lawyer, banker and borrower: A letter from home thanks to Bank of America.

The blogger, lawyer, banker and borrower: A letter from home thanks to Bank of America.

All we ever wanted was a fixed loan. Between Martin and Nathan Fransen's time and dedication to my family we received a loan modification. The part that to this day will bring tears to my eyes is... (Continue reading)

What Loan Modifications Have to Do with Leaving Money on the Table and Knowing the Value of a Dollar

What Loan Modifications Have to Do with Leaving Money on the Table and Knowing the Value of a Dollar

We need programs that stop foreclosures and provide reasonable resolutions for borrowers faster than one at a time. I don’t want to see another optimistic forecast, like the ones I’ve been shown every single year since the crisis began,... (Continue reading)

Motley Fooled by Reverse Mortgages – New York Times No Better

Motley Fooled by Reverse Mortgages - New York Times No Better

If you’ve seen one article about the “risks" or "perils" or "nightmares," associated with reverse mortgages, you’ve quite literally seen them all. It feels almost like one writer started a chain letter on the subject, and the rest of... (Continue reading)

CNBC’s Diana Olick makes sure no one understands reverse mortgages, I make sure they do.

CNBC's Diana Olick makes sure no one understands reverse mortgages, I make sure they do.

I’m constantly amazed at the negative press and misconceptions surrounding reverse mortgages, because the bottom-line is they are an absolutely wonderful product that almost everyone over 62 years old should have, and yet in a year of talking to seniors... (Continue reading)

A Visit to the Front Lines: Richmond, California, Eminent Domain & Mortgage Resolution Partners

A Visit to the Front Lines: Richmond, California, Eminent Domain & Mortgage Resolution Partners

So, I went to visit Richmond, California, so I could see what the town looked like, and to sit and talk face to face with the CEO of Mortgage Resolution Partners. Join me below and I'll take you on... (Continue reading)

We All Agree: We want to keep people in their homes if possible… sort of.

We All Agree: We want to keep people in their homes if possible… sort of.

So, if Wells Fargo was now willing to allow Arthur to sell the home he’d built and lived in since 1988 for $375,000… why not sell the home to Arthur for $375,000, and Arthur would use a reverse mortgage for... (Continue reading)

Why Does Ocwen Want to Modify Loans? Answer: Because they profit by doing so.

Why Does Ocwen Want to Modify Loans?  Answer: Because they profit by doing so.

The thing is that no one wants to think that the horror show we’ve all witnessed these last five years hasn’t been part of a nefarious plot to steal homes and take over the world somehow. That would at... (Continue reading)

Mortgage Resolution Partners’ Chairman, Steven Gluckstern Says Eminent Domain Plan will Go Forward – A Mandelman Matters Podcast

Mortgage Resolution Partners' Chairman, Steven Gluckstern Says Eminent Domain Plan will Go Forward - A Mandelman Matters Podcast

Steven Gluckstern is the Executive Chairman of Mortgage Resolution Partners ("MRP"), the company that has been advising cities and municipalities all over the country, and most notably Richmond, California, in their use of eminent domain to take over underwater loans... (Continue reading)

Tom Deutsch of the ASF on Eminent Domain & Loan Modifications – A Mandelman Matters Podcast

Tom Deutsch of the ASF on Eminent Domain & Loan Modifications - A Mandelman Matters Podcast

If Professor Robert Hockett is the man behind the plan to use eminent domain to take over underwater loans and write them down for homeowners, Tom Deutsch is his arch nemesis. This is an opportunity to hear how the... (Continue reading)

It was an honor to help him get his loan modified…

It was an honor to help him get his loan modified...

It was an honor to help Arlie Matthews get his loan modified with Bank of America. At the times when I sit and wonder why I've done what I've done, and how I can possibly continue doing it for... (Continue reading)

Dear Fellow Travelers… a letter from a Mandelman Matters reader.

Dear Fellow Travelers... a letter from a Mandelman Matters reader.

I was not involved in her foreclosure battle. She wrote to me because she wanted to tell other homeowners what she came to discover about Mandelman Matters after going through the same sort of journey that far to many... (Continue reading)

Heirs of Reverse Mortgage Holders Should be Happy, Happy and Happy

Heirs of Reverse Mortgage Holders Should be Happy, Happy and Happy

The reverse mortgage is the only vehicle that allows the flexibility of repayment terms that includes no repayment at all until after the death of the second spouse. There’s nothing else like the HECM reverse mortgage... we should all... (Continue reading)

Apparently White House is PLEASED with HAMP and Housing?

Apparently White House is PLEASED with HAMP and Housing?

I’m actually relieved that the White House knows about the millions of delinquencies, underwater and effectively underwater loans… that sales have been “slowing” since last July, but slowing even more so since the first of the year. I’m so... (Continue reading)

Christopher Whalen Quotes Me on HousingWire, Then Tom Cox Slams Me and Whalen on HousingWire

Christopher Whalen Quotes Me on HousingWire, Then Tom Cox Slams Me and Whalen on HousingWire

Tweet   So, here’s how my day went today… It started with Christopher Whalen quoting me in his article on HousingWire.  Chris had told me yesterday that he was planning on quoting me in an article, but I didn’t know... (Continue reading)

Following in the Rich Tradition of Appraisal Fraud, Servicers Using Zillow® for Home Values

Following in the Rich Tradition of Appraisal Fraud, Servicers Using Zillow® for Home Values

Using a Zestimate to determine a home’s value is almost like trying to make your mortgage payment using Monopoly money. And yet, homeowners and others involved in loan modifications from around the country have confirmed being told by Chase,... (Continue reading)

Latest Report Shows Mortgage Approval Requires HIGH FICO Scores

Latest Report Shows Mortgage Approval Requires HIGH FICO Scores

While demand for mortgages and homes has declined, in the years ahead the demand for credit restoration services is expected to be one of the fastest growing industries in the country. And I can’t think of a better way... (Continue reading)

Frank & Brian Try to Help Salespeople Overcome Call Reluctance

Frank & Brian Try to Help Salespeople Overcome Call Reluctance

Call reluctance isn’t some psychological problem that you can cure by talking to yourself or by being coached to pick up the phone within 30 minutes. You know why you’re not calling your prospects… it’s because you have nothing... (Continue reading)

Dave Dayen Does Great Job Describing “Government Cowardice” and Donovan’s Complicity “Selling” the National Mortgage Settlement

Dave Dayen Does Great Job Describing “Government Cowardice” and Donovan’s Complicity “Selling” the National Mortgage Settlement

Dayen’s article is still an outstanding piece of work that I very much appreciated. It saved me from having to read Smith’s final report, and he wrote it in such a way that I think it represents the perfect... (Continue reading)

8 Powerful Reasons Why NOW is a GREAT Time to BUY a Home

8 Powerful Reasons Why NOW is a GREAT Time to BUY a Home

Today was a BIG day for Frank and Brian over at the National Real Estate Post... they have officially proclaimed that the mortgage lending industry HAS CHANGED. Not IS changing, but HAS changed... they were shocked, by the way.... (Continue reading)

Is Eminent Domain for Underwater Loans Good for Homeowners? A Mandelman Matters Podcast

Is Eminent Domain for Underwater Loans Good for Homeowners?  A Mandelman Matters Podcast

The man who wrote the plan to use eminent domain to take over underwater loans and write them down for homeowners that started in Richmond in earnest, but is now being considered in one form or another by something... (Continue reading)

Effectiveness of Government Plan to Create Foreclosures to Increase as Rates Rise

Effectiveness of Government Plan to Create Foreclosures to Increase as Rates Rise

HAMP modifications are about to start seeing rates reset higher, and Treasury says more foreclosures will be the result. ... (Continue reading)

THANK YOU RUSH LIMBAUGH! Rush Says Republicans Won’t Work With Black President.

THANK YOU RUSH LIMBAUGH!  Rush Says Republicans Won't Work With Black President.

Rush Limbaugh has admitted that Republicans won't work with Obama because he's black. Remember when Barack Obama was running against Hillary Clinton for president in 2008? So, remember the question that was on everyone’s mind in 2008? ... (Continue reading)

Four Million Homes Rise Above Water in Q4… Does anyone realize how stupid a headline that is?

Four Million Homes Rise Above Water in Q4… Does anyone realize how stupid a headline that is?

How about if we start a contest? I’d love to promote the, “Sell your home at the Zillow price and win your mortgage payments for a year” contest. It’s not like we’d need any money to do it…... (Continue reading)

POWER TOOLS for Investor Denials, the NPV Discussion, and Pushing a Servicer to Modify a Loan

POWER TOOLS for Investor Denials, the NPV Discussion, and Pushing a Servicer to Modify a Loan

Unfortunately, as so many homeowners have learned the hard way, it’s not easy to figure out what’s right and what’s not about your loan modification application, and so many homeowners fail when they could have succeeded had they known what... (Continue reading)

Is Eminent Domain to Write Down Mortgages Unconstitutional? A Mandelman Matters Podcast

Is Eminent Domain to Write Down Mortgages Unconstitutional?  A Mandelman Matters Podcast

Is the use of eminent domain to take over underwater loans and write them down for homeowners unconstitutional? Will the financial services industry tie up the plan to use eminent domain in the courts for years? Find out... (Continue reading)

Underwater and Unsolvable – A Lifetime of Homeowner Mortgage Debt

Underwater and Unsolvable – A Lifetime of Homeowner Mortgage Debt

There should be no question in anyone’s mind that because our housing markets have not recovered neither has our economy. It’s not that we need jobs to improve the housing markets, it’s that we need to fix housing in... (Continue reading)

Demand for Mortgages Plummets, But It’s Not a Winter Storm, It’s More of an Ice Age

Demand for Mortgages Plummets, But It’s Not a Winter Storm, It’s More of an Ice Age

Do the math and it’s easy to conclude that the number of homeowners unable or unwilling to move is high. If 30 percent are actually underwater, after adding sales commissions, moving expenses, and the need for a 20 percent... (Continue reading)

What I Know About Loan Modifications – 2014

What I Know About Loan Modifications - 2014

I see loans get modified every day, and the people I see haven’t paid anyone for anything, or if they did, it was hundreds, not thousands of dollars. At the same time, I’ve seen people who absolutely needed someone... (Continue reading)

GUEST POST: Mortgages, now in the hands of specialty servicers, means trouble for homeowners and investors.

GUEST POST: Mortgages, now in the hands of specialty servicers, means trouble for homeowners and investors.

During the past 12 months, the rights to service millions of home loans have been shifted from large banks like Bank of America, Wells Fargo, Citigroup and Chase to specialty loan servicers like Ocwen Home Loan Servicing, Nationstar and SPS,... (Continue reading)

All the News that Can Confuse – Housing Market News Up and Down at the Same Time

All the News that Can Confuse – Housing Market News Up and Down at the Same Time

On any given day, the numbers of contradictory headlines about housing markets and foreclosures are enough to present a serious health risk to anyone reading them. ... (Continue reading)

Homeowner Loan Mod Success Story with JPMorgan Chase… and Mandelman Matters

Homeowner Loan Mod Success Story with JPMorgan Chase... and Mandelman Matters

And I have to admit that when I received the letter below, it brought a few tears to my eyes... and felt really good to know I had been able to help, but the credit really belongs to JPMorgan Chase... (Continue reading)

FDIC Shared Loss Agreements Did NOT Pay Off Your Loan (No Matter What AZ Court Seems to Think)

FDIC Shared Loss Agreements Did NOT Pay Off Your Loan (No Matter What AZ Court Seems to Think)

It’s remarkable, if you think about it, how many people are supposedly trying to pay off your underwater mortgage once you’ve stopped making your mortgage payments. It’s like there’s a rush to pay off your mortgage once you default on... (Continue reading)

We’ve Solved a National Foreclosure Crisis Before, Why Not Now?

We’ve Solved a National Foreclosure Crisis Before, Why Not Now?

A large part of this protracted recession it said is due to households trying to reduce their debt levels, which in turn leads to less spending in the economy, driving the recession deeper and further.... (Continue reading)

Good News About Housing Recovery… Your Kids Will be Living With You for a Long Time

Good News About Housing Recovery... Your Kids Will be Living With You for a Long Time

So, if you add it all up, there's only one way that U.S. housing markets are recovering… Magical thinking!... (Continue reading)

Homeowner Alert: Scammer Masquerades as Bank, Offers Fake Loan Mods

Homeowner Alert: Scammer Masquerades as Bank, Offers Fake Loan Mods

Now there are scammers masquerading as banks, offering FAKE LOAN MODIFICATIONS... and if that weren't bad enough, the fake mods require homeowners to pay thousands of dollars for nothing.... (Continue reading)

Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth

Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth

Once a mortgage is underwater… should you get hit with a life event such as a divorce, illness, injury, job loss or income reduction… you can’t sell your home… and you can’t borrow against it to help you get through... (Continue reading)

Eminent Domain Part 3 with Cornell Law’s Professor Robert Hockett – A Mandelman Matters Podcast

Eminent Domain Part 3 with Cornell Law's Professor Robert Hockett - A Mandelman Matters Podcast

Eminent domain means taking over underwater loans and writing them down for homeowners. Professor Robert Hockett authored the plan, and is consulting with cities all over the country now considering using eminent domain to save their cities from becoming...... (Continue reading)

Eminent Domain to Solve the Housing Crisis – PART 2 with Prof. Robert Hockett

Eminent Domain to Solve the Housing Crisis - PART 2 with Prof. Robert Hockett

Eminent domain is not only being considered as a solution to the housing crisis by Richmond, California... there are now some TWO DOZEN CITIES across the country considering the plan authored by Professor Robert Hockett of Cornell University Law School.... (Continue reading)

Prof Robert Hockett: Need Eminent Domain to Break Securitization Suicide Pact Killing Recovery – A Mandelman Matters Podcast

Prof Robert Hockett: Need Eminent Domain to Break Securitization Suicide Pact Killing Recovery – A Mandelman Matters Podcast

Eminent domain to answer the problems with underwater mortgages? Well, the lines have been drawn… the battle appears eminent… pun intended. But Professor Hockett, the man behind the eminent domain plan, says it’s not going to get tied... (Continue reading)

Our Housing Market’s Recovery is Eminent… Get It?

Our Housing Market’s Recovery is Eminent… Get It?

Despite some very nasty threats of retaliation from Wall Street and Washington, something like two dozen new cities are now reportedly joining the efforts to potentially head off home foreclosures by using eminent domain to seize mortgages and write them... (Continue reading)

Who Doesn’t Need a Back-Up Plan for a Secure Retirement?

Who Doesn’t Need a Back-Up Plan for a Secure Retirement?

Maybe the wealthiest retirees can get by without taking out a reverse mortgage as a way to protect their financial futures, but for the rest of us… not having funds from a reverse mortgage available is what’s risky. And... (Continue reading)


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