Wednesday 15th January
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It’s Mandelman on The Real Estate Guys Radio Show!
Written on 30 May, 2010 at 21:56
It's Mandelman on The Real Estate Guys radio show! Yay! It's sort of like Click & Clack, those brothers that do the Car Talk show on NPR on weekends. You think it's going to be dull, but... (Continue reading)
Books That Matter: Crisis Economics, by Nouriel Roubini & Stephen Mihm
Written on 30 May, 2010 at 20:59
Roubini explains things I didn't previously understand, such as the details of Federal Reserve Chairman Ben Bernanke's and Treasury Secretary Geithner's response to the meltdown. Oh, I knew some of what those two had done, but not enough in terms... (Continue reading)
We Are On the Brink of a New Age of Rage
Written on 29 May, 2010 at 7:17
I'm also fearful that we've become a nation of people that doesn't believe in our democracy anymore. A nation of people who will wait for things to happen to them, rather than trying to change what happens to them.... (Continue reading)
Treasury’s Mortgage Modifications: A Failure Prolonging the Economic Crisis
Written on 28 May, 2010 at 0:12
Here it is. The Committee on Oversight and Government Reform published this report on February 25, 2010. And I'd say more about that, but this is one report, that speaks for itself.... (Continue reading)
Every Time a Judge Cancels a Mortgage a Homeowner Gets His or Her Wings
Written on 26 May, 2010 at 2:45
Judge Bailey also reprimanded Huffman: "Some day, this foreclosure crisis is going to be over, and you need to decide what kind of lawyer you are going to be. Because at the end of the day, you are responsible... (Continue reading)
Wall Street to Securitize Delinquent Loans. Because it went so well last time, I suppose.
Written on 25 May, 2010 at 8:31
So, based on that... the only logical thing to do is securitize some non-performing loans. Of course, it's brilliant! I'm calling AIG-FP later today to see if they'll sell me a credit default swap against this crap. ... (Continue reading)
BRINGING UP THE REAR FTC Chairman Jon Leibowitz
Written on 24 May, 2010 at 15:49
If you want to get rid of the loan modification scammers, you certainly don't reduce the number of legitimate options available to help, you let people know where they can get help... beyond calling their bank or standing in line... (Continue reading)
When Outrage Becomes Rage. Historically speaking, this story doesn’t end well for anyone.
Written on 24 May, 2010 at 15:08
Tomorrow, the country will go on as it did yesterday, foreclosures will continue essentially unabated, and more and more Americans will fall into the abyss of disenchantment with all authority... the frequent and extended strikes by workers during the 1970s... (Continue reading)
Judge Sentences Wall Street’s Greed and Hedge Fund Founder to Prison
Written on 23 May, 2010 at 16:23
"He had a choice as a leader of the financial industry. He could have led by example. Instead, he chose to follow. He became a joiner, surrendering to the spree of the financial market's virtual mob mentality that nearly brought... (Continue reading)
Arizona Loan Modification – Couple Says Wells Fargo is the Scammer
Written on 23 May, 2010 at 14:26
Given thirty days homeowners might have a shot at bringing everything current and we'll avoid a foreclosure or two. I don't care which side of this foreclosure crisis you're on, whether you blame the borrowers or the banks, you... (Continue reading)
FHA-HAMP Helped 171 Homeowners Nationwide in April
Written on 22 May, 2010 at 18:31
The HUD Neighborhood Watch Website shows 171 FHA-HAMP modifications for the month of April 2010. What? Did they have to win a drawing?... (Continue reading)
INTRODUCING: Freddie Mac’s New HAMP Backup Modification Plan
Written on 21 May, 2010 at 1:19
So, it would seem that the HAMP Backup Modification is an option for homeowners who were in a HAMP trial modification based on having stated their income, but then were turned down because they lacked documentation or failed other underwriting... (Continue reading)
Books That Matter: 13 Bankers, by Simon Johnson & James Kwak
Written on 20 May, 2010 at 7:15
On Friday, March 27, 2009, the CEOs of thirteen of the country's largest financial institutions gathered at The White House to meet with President Barack Obama. ... (Continue reading)
Federal Reserve Bank President Says We’re In For a Long Hard Road Ahead
Written on 19 May, 2010 at 22:04
What happened? As the decline in housing prices began to accelerate across the country, this exposed underlying cracks in the financial system. Foreclosures began to rise, loan losses mounted, and housing prices dropped even more, creating a downward spiral not... (Continue reading)
Here We Go… It’s HAMP Confusion Day
Written on 19 May, 2010 at 7:08
The real estate industry is positively pathetic in their apparent willingness to simultaneously all agree that the emperor's clothes are entirely magnificent. And the real estate industry's reporting today includes the performance numbers related to the foreclosure crisis and loan... (Continue reading)
Short Sale Power Hour Does Mandelman Matters Live!
Written on 17 May, 2010 at 18:19
So... there's a site called ShortSalePowerHour.com that's seriously into Mandelman Matters. They're a couple of very funny real estate types that specialize in helping real estate agents with the whole short sale thing. ... (Continue reading)
Mandelman Matters Presents: ARE YOU READING THIS STUFF?
Written on 17 May, 2010 at 8:45
Mandelman Matters Presents: ARE YOU READING THIS STUFF? What am I supposed to do? I read constantly and it’s painful. I figured that maybe by sharing it with you, I would know I wasn’t alone, and it would stop me... (Continue reading)
Banks Lobbying, Financial Reforms & Who’s Recovering?
Written on 16 May, 2010 at 18:07
Like the flying monkeys from the Wizard of Oz, they've been summoned by the bankers to our nation's capital; flying in from around the country until they hit the steps of the U.S. Capital building... when they're transformed into lobbyists... (Continue reading)
What Others Have Written About the NPV Test You Need to Pass to Get a HAMP Loan Modification
Written on 16 May, 2010 at 6:17
Last week, which was about a week after he had sent his REST Report to his lender, he received a response from his servicer... and they were offering him a loan modification in line with one of the alternative strategies... (Continue reading)
Why Can’t We Answer the Question About HAMP That Could Save Taxpayers Tens of Billions?
Written on 13 May, 2010 at 5:06
How about if we all write letters to our elected representatives demanding to know the answer to this question, because the answer has the very definite potential to save many billions in unnecessary taxpayer funded expenditures associated with the current... (Continue reading)
Who is Freddie Mac to Strategic Defaulters? Well, I Have a Message for Freddie Mac.
Written on 12 May, 2010 at 9:00
What is Freddie Mac anyway? I've personally spoken with several thousand homeowners from all over the country, hundreds that have considered walking away from their mortgages, or are now in the process of doing so, and let me assure... (Continue reading)
The FTC Needs a More Reasoned Approach to Stop Loan Mod Scams
Written on 10 May, 2010 at 11:19
Yes, I've walked through this steaming pile of freshness so many times and in so many ways, that I've come to consider the idea that there's something in the water that's causing otherwise intelligent people to lose their capacity for... (Continue reading)
SO, HAMP ISN’T GREAT. WE KNOW. WHAT ARE YOU GOING TO DO ABOUT IT?
Written on 4 May, 2010 at 3:01
Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time... "Congress better take note! We intend to use our VOTE!" Yep, after that the foreclosure crisis would... (Continue reading)
My Year in A-Trance: What I’ve Learned About Loan Modifications
Written on 4 May, 2010 at 1:50
Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time... "Congress better take note! We intend to use our VOTE!" Yep, after that the foreclosure crisis would... (Continue reading)