May, 2009

Stop Blowing Sunshine Up My Skirt – Recovery, My Aunt Petunia

Stop Blowing Sunshine Up My Skirt - Recovery, My Aunt Petunia

Tweet 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,... (Continue reading)

CA DRE Orders T.N.L.M.A. Owner to Desist and Refrain

Tweet 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... (Continue reading)

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California Senate Passes SB 94 Legislation, Now Up To State Assembly

Tweet 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... (Continue reading)

CALIFORNIA HOMEOWNERS SHOULD KNOW: Loan Modification Companies To Be Avoided

Tweet 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... (Continue reading)

Bank of America Says They Modified 50,000 Mortgages… Whatever That Means…

Bank of America Says They Modified 50,000 Mortgages… Whatever That Means…

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

Tired of the Lying: 55,000 Helped by Obama Mortgage Rescue

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

BRINGING UP THE REAR: MSNBC’s John W. Schoen

Tweet 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... (Continue reading)

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Loan Modifications and the Right to Representation

Loan Modifications and the Right to Representation

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)

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CALLING ALL LOAN MOD FIRMS: A Family in LA Needs Help NOW!

Tweet 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... (Continue reading)

There’s the OUTRAGE: Riverside Man Booby-Traps Foreclosed Home

There's the OUTRAGE: Riverside Man Booby-Traps Foreclosed Home

Tweet 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... (Continue reading)

LA Ordinance No. 180675: MORTGAGE MODIFICATION CONSULTANTS

Tweet 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... (Continue reading)

Treasury Gives Banks Guidance on Loan Modification/Foreclosure Rescue Scams

Tweet 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... (Continue reading)

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Loan Mod Firms NEED to Be SCARED STRAIGHT

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?

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)

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WEEKEND READING: Effective Marketing of Your Loan Modification Firm

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)

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Have You Called the Homeowner’s HOPE™ Hotline?

Have You Called the Homeowner's HOPE™ Hotline?

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)


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