Posts Tagged ‘loan modifications’

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)

Tagged with:                                                         

Attorney Mark Didak Who Wrote Amicus Brief in Yvanova v. New Century – A Mandelman Matters Podcast

Attorney Mark Didak Who Wrote Amicus Brief in Yvanova v. New Century - A Mandelman Matters Podcast

Los Angeles attorney, Mark Didak, who wrote an amicus brief in the Yvanova v. New Century Mortgage case, shares views and excitement related to the decision.... (Continue reading)

Richard Antognini, the Lawyer Who Took Yvanova to California’s Supreme Court – A Mandelman Matters Podcast

Richard Antognini, the Lawyer Who Took Yvanova to California's Supreme Court - A Mandelman Matters Podcast

Richard Antognini is the lawyer who took the Yvanova v. New Century Mortgage case to California's Supreme Court. Don't miss what he has to say about the case.... (Continue reading)

Max Gardner on Yvanova v. New Century Mortgage – A Mandelman Matters Podcast

Max Gardner is one of the superstar lawyers of the foreclosure crisis. Here's a chance to hear his analysis of the recent California Supreme Court decision that everyone's talking about.... (Continue reading)

California Court’s Yvanova Decision Opens Door to Very Dark Room

California Court’s Yvanova Decision Opens Door to Very Dark Room

In Yvanova, the court didn’t say whether her claim that the trust didn't own her loan would prevail, only that a borrower now has standing to make that claim.... (Continue reading)

Max Gardner’s Consumer Defense Academy: Latest in Loss Mitigation – March 19th, Portland

Max Gardner’s Consumer Defense Academy: Latest in Loss Mitigation - March 19th, Portland

Learn the most up-to-date loss mitigation & legal strategies, based on new state & federal statutes that have dramatically changed the playing field.... (Continue reading)

DOER ALERT: Support Homeowner Survivor Bill of Rights – Extend Foreclosure Protections to Widowed Spouses

DOER ALERT: Support Homeowner Survivor Bill of Rights - Extend Foreclosure Protections to Widowed Spouses

Senate Bill 1150... “clarify the responsibilities of a mortgage lender when a borrower dies and passes the home along to a survivor who wishes to assume the home loan.” Lenders say that widows and heirs, if not on the... (Continue reading)

Nationstar: Servicer’s Stock Price Closes at New Low… Look Out Below!

Nationstar: Servicer’s Stock Price Closes at New Low... Look Out Below!

It seems like only yesterday that I was writing about mortgage servicing's latest disaster-in-the-making, Nationstar and today the company's stock sank to a new single-digit low of $8.99.... (Continue reading)

Nationstar: A Multi-billion Dollar Settlement over Foreclosure Practices Waiting to Happen

Nationstar: A Multi-billion Dollar Settlement over Foreclosure Practices Waiting to Happen

Just when I was sure that no servicer could be worse than Wells Fargo or HSBC... here comes Nationstar, a servicer seemingly dedicated to reaching new lows.... (Continue reading)

California No Longer Foreclosure Kingpin? Playing with the data… again.

California No Longer Foreclosure Kingpin? Playing with the data... again.

The headline in the OC Register about California no longer being the foreclosure kingpin is just flat out misleading.... (Continue reading)

Why Did Obama Wait Until December 2015 to Extend Mortgage Debt Forgiveness Act?

Why Did Obama Wait Until December 2015 to Extend Mortgage Debt Forgiveness Act?

I wonder how many people chose foreclosure last year because the Act had not been extended… only to find out now that Obama made the extension retroactive.... (Continue reading)

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)

Where did the billions go when banks settled with our government?

Where did the billions go when banks settled with our government?

What if there had been $50 billion to spend on helping homeowners avoid foreclosure. That would be more than we've spent to-date on foreclosure prevention. ... (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)

Tagged with:                         

Getting a Mortgage Modified Today – A Real Life Case Study in Crazy

Getting a Mortgage Modified Today - A Real Life Case Study in Crazy

The foreclosure crisis is not getting better, as many would have you believe… in fact, it’s getting worse once again… as its done many times over the last 6 years. ... (Continue reading)

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)

Tagged with:                                     

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)

Tagged with:                             

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)

Not Surprisingly, HAMP & HARP Programs Extended Once Again

Not Surprisingly, HAMP & HARP Programs Extended Once Again

The FHFA has announced that it has extended Fannie and Freddie's participation in the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) for an additional year, until the end of 2016.... (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)

Wells Fargo is Evicting a 72 Year-old Woman with Advanced Alzheimer’s – Will you try to help stop this from happening?

I don’t know why the bank wants to evict a 72 year-old woman with advanced Alzheimer’s. I don’t know why there aren’t laws to prevent such a thing from happening. ... (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)

Tagged with:                                 

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)

Study Shows Foreclosure-related Suicides Doubled, 2006 – 2010

Tweet Well, finally, (at least as far as I’m concerned) the American Journal of Public Health has published the results of a comprehensive study on foreclosure- and eviction-related suicide, which it should come as little surprise, shows has more than... (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)

Top 10 Most Extreme Sports (that haven’t been invented yet.)

Top 10 Most Extreme Sports (that haven’t been invented yet.)

Type “extreme sports” into YouTube’s search bar today and you may not even believe what you see. There’s no question that extreme sports have gotten way more extreme than they’ve ever been in the past. In fact, some of what... (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)

California Homeowner Loses $16.2 Million Awarded by Jury

California Homeowner Loses $16.2 Million Awarded by Jury

What’s the worst case for Mr. Linza at this point? His loan was around $240,000 plus the arrearages, which I suppose could amount to six figures… but still. He can’t be more than $158,000 behind, right? So, assuming that’s true,... (Continue reading)

GAO REPORT SAYS IT AGAIN: Treasury NEEDS to improve HAMP Data Analysis

GAO REPORT SAYS IT AGAIN: Treasury NEEDS to improve HAMP Data Analysis

Latest GAO Report once again has recommended that Treasury improve its capability to track and analyze data related to HAMP loan modifications. Again and again.... (Continue reading)

Tagged with:                         

Foreclosures Rising 1st Time in 3 Years, Says RealtyTrac. So, is that good or bad?

Foreclosures Rising 1st Time in 3 Years, Says RealtyTrac.  So, is that good or bad?

We have to take steps to put an end to foreclosures caused by the meltdown… not slow them down with another bandage, but actually make a commitment to stop the bleeding. We have to come to realize what’s still happening... (Continue reading)

HOMEOWNER ALERT: Mortgage Investors Fraud Recovery’s 50-2-40 Program & CFLA’s Quiet Title, Audits and Experts

HOMEOWNER ALERT: Mortgage Investors Fraud Recovery’s 50-2-40 Program & CFLA’s Quiet Title, Audits and Experts

MIFR and Group Trust are clearly scamming homeowners, and should be shut down. And what CFLA’s website claims about their people and their audits, and what can be found out about their performance in the real world are as... (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)

Why Can’t Dave Ramsey Get his Facts Straight on Reverse Mortgages?

Why Can't Dave Ramsey Get his Facts Straight on Reverse Mortgages?

Reverse mortgages are an extremely important financial tool for millions of Americans... and more and more every day. When Dave Ramsey writes about them, he needs to be accurate... and he's not. And that's a problem. ... (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)

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)

Gifts From My Father… And Mom Let Him Live.

Gifts From My Father... And Mom Let Him Live.

But, make no mistake about it… that evening back in the late 60’s… Mom let him live. She let him off with a song about a Kenmore dishwasher from Sears… a song that sounded a lot like “Home on... (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)

BREAKING NEWS: Newark Votes, Approves Use of Eminent Domain to Fight Foreclosures–First Domino Falls

BREAKING NEWS: Newark Votes, Approves Use of Eminent Domain to Fight Foreclosures–First Domino Falls

The program would allow homeowners trapped in certain type of mortgage, known as a Private Label Security or PLS Loans, to voluntarily participate in a program where the City purchases these mortgages from investors and repackages them at terms homeowners... (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)

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)

Attorney Tom Cox on Christopher Whalen, Servicers, Loan Mods and Me – A Mandelman Matters Podcast

Attorney Tom Cox on Christopher Whalen, Servicers, Loan Mods and Me - A Mandelman Matters Podcast

HousingWire posted Tom's response to Chris' piece, Chris responded with another post on HousingWire... then Tom came back with a post on Naked Capitalism, with commentary by Yves, and somewhere in there Adam Levitin responded too. Lord only knows... (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)

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)

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)


Page Rank