Wednesday 15th January
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Stop Blowing Sunshine Up My Skirt – Recovery, My Aunt Petunia
Written on 31 May, 2009 at 5:30
It has occurred to me over the last several weeks, that there are many people that simply want… and perhaps need… the news to be good, regardless of what the news actually is. When the news is not good, they... (Continue reading)
CA DRE Orders T.N.L.M.A. Owner to Desist and Refrain
Written on 26 May, 2009 at 23:09
According to The National Loss Mitigation Association’s (“TNLMA”) website, its mission is: “to promote integrity, ethical business practices and responsible regulation that inspires public confidence in the loss mitigation industry.” That might sound good, especially in an industry that’s constantly... (Continue reading)
California Senate Passes SB 94 Legislation, Now Up To State Assembly
Written on 26 May, 2009 at 17:49
The California State Senate has passed Senate Bill 94 (“SB 94”), legislation proposed by Sen. Ron S. Calderon (D-Montebello), Chairman of the Banking, Finance & Insurance Committee. The senate passed the bill on May 21, 2009, by a vote of... (Continue reading)
CALIFORNIA HOMEOWNERS SHOULD KNOW: Loan Modification Companies To Be Avoided
Written on 24 May, 2009 at 19:31
When I spoke with the California Department of Real Estate a few weeks ago, they told me that they would soon be publishing information related to the problematic companies and “scammers” involved in loan modifications. Here it is… The DRE... (Continue reading)
Bank of America Says They Modified 50,000 Mortgages… Whatever That Means…
Written on 24 May, 2009 at 16:23
Look, if loan modifications aren't taken more seriously and soon, we're all in serious trouble. Foreclosures breed foreclosures. They lower housing prices, which leads to lower consumer spending... which leads to reduced corporate profits... which leads to more layoffs... which... (Continue reading)
Tired of the Lying: 55,000 Helped by Obama Mortgage Rescue
Written on 24 May, 2009 at 10:26
But why, if a bank refuses to modify a loan to the point where the borrower can remain in his or her house, and instead chooses to sell it at some moment in time, would we possibly want to tell... (Continue reading)
BRINGING UP THE REAR: MSNBC’s John W. Schoen
Written on 22 May, 2009 at 7:04
According to MSNBC.com, John Schoen “has reported and written about business and financial news for more than 25 years”. He produced a series titled The Mortgage Mess in 2008, and as a result won a Best in Business Journalism award... (Continue reading)
Loan Modifications and the Right to Representation
Written on 19 May, 2009 at 9:26
Is it really so difficult to imagine that homeowners, scared to death that they will lose their homes to foreclosure, would agree to terms before they should have in an effort to "save" their most highly valued asset? I think... (Continue reading)
CALLING ALL LOAN MOD FIRMS: A Family in LA Needs Help NOW!
Written on 16 May, 2009 at 14:08
CBS just reported that the Arteaga family of Winnetka has been left homeless as a result of being scammed by someone who said he could get their loan modified. THEY NEED YOUR HELP TODAY! DO IT NOW! The family gave... (Continue reading)
There’s the OUTRAGE: Riverside Man Booby-Traps Foreclosed Home
Written on 13 May, 2009 at 15:48
Here’s how the LA Times, in just a few brief paragraphs, reported the story today: “A 42-year-old Riverside man has been arrested on suspicion of setting up fake booby traps outside his foreclosed home, authorities said today. Former homeowner Daniel... (Continue reading)
LA Ordinance No. 180675: MORTGAGE MODIFICATION CONSULTANTS
Written on 11 May, 2009 at 8:31
Well, here it is… the City of Los Angeles, acting on almost no reliable information as to the extent of the problem, or the solution, passed this stunning piece of work a few weeks back. Anyone feel like reading it.... (Continue reading)
Treasury Gives Banks Guidance on Loan Modification/Foreclosure Rescue Scams
Written on 8 May, 2009 at 17:50
The Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) has issued what they refer to as “guidance” to financial institutions related to the practice of using Suspicious Activity Reports (“SARs”) to report loan modification and foreclosure rescue scams. The guidance talked... (Continue reading)
Loan Mod Firms NEED to Be SCARED STRAIGHT
Written on 7 May, 2009 at 15:59
I'm not at all sure that the private sector, for-profit loan modification firms have an appreciation for what's going on in California or across the nation as a whole. To be blunt, I'd be willing to bet money that... (Continue reading)
I’ve Got SIX QUESTIONS for Loan Modification Experts?
Written on 5 May, 2009 at 8:18
But surely something should change, right? Everyone I've spoken with agrees that the industry should be better regulated, because no matter how many people were "scammed," no one wants to see any homeowners scammed. So, how can the... (Continue reading)
WEEKEND READING: Effective Marketing of Your Loan Modification Firm
Written on 2 May, 2009 at 12:16
Since I want private sector loan modification firms to succeed, frankly because I want homeowners to keep their homes if at all possible, it falls to me to do whatever I can to help. Why? Well, because I've... (Continue reading)
Have You Called the Homeowner’s HOPE™ Hotline?
Written on 1 May, 2009 at 11:20
One of the things that concerns me is the way Ms. Hernandez talked about the need for even more patience than usual, saying: "The recent dramatic increase in calls to the hotline may require homeowners to be more patient... (Continue reading)