December, 2010

Foreclosures Increase 11.2% in Third Quarter over Second Quarter of 2010. And that means…

Foreclosures Increase 11.2% in Third Quarter over Second Quarter of 2010. And that means...

Oh joy! Foreclosures should be peaking next year! Well there’s something to look forward to, wouldn’t you say? Why will they be peaking next year, you may wonder? Well, I’m forecasting they based on the current... (Continue reading)

Mandelman Comments on Jr. Deputy Accountant.com – Holiday Sales Numbers

Mandelman Comments on Jr. Deputy Accountant.com - Holiday Sales Numbers

I'm not sure if this means anything or not, but about holiday retail activity in stores like Nordstrom... well, I live in Southern California... Orange County... the O.C. if that helps, and I took some photos of the Nordstom in... (Continue reading)

Two Years Waiting for the New York Times to Write About Lawyers & Loan Modifications, and they Still GET IT WRONG.

Two Years Waiting for the New York Times to Write About Lawyers & Loan Modifications, and  they Still GET IT WRONG.

Can you hear me now? Is that doing it for you? The facts about California attorneys who offer to assist homeowners with loan modifications as presented in the New York Times story are just plain WRONG. ... (Continue reading)

You Better Watch Out, Im Telling You Why BofA is Coming to Town And, they might just break your door down!

You Better Watch Out, Im Telling You Why BofA is Coming to Town And, they might just break your door down!

Well, I’d have to say nicely done there, Bank of America, all around. I mean, you managed to take a woman from sending you $15,000 to take over the home out of probate after her husband died… her “haven”... (Continue reading)

Tired of Reading? Videos on the Foreclosure Crisis.

Tired of Reading?  Videos on the Foreclosure Crisis.

But, that's how we seem to be handling things so far, with the bankers as our special class, essentially immune from real regulation, and apparently allowed to behave badly in the name of their recovery. To me it looks... (Continue reading)

The Kings and Queens Loan Mod Scammers: Arizona & Nevada Sue Bank of America Over Loan Modification Program

The Kings and Queens Loan Mod Scammers: Arizona & Nevada Sue Bank of America Over Loan Modification Program

So, when the opportunity came up to investigate the banks as a result of things like robo-signers fraudulently signing affidavits in order to foreclose on people’s homes, came to light, Terry Goddard was one of the state attorneys general to... (Continue reading)

Foreclosures Poised to Take Down the U.S. Banking System and even entire economy, says Whalen. (Ya think?)

Foreclosures Poised to Take Down the U.S. Banking System and even entire economy, says Whalen.  (Ya think?)

“Laurie Goodman of Amherst Securities predicts that 1 in 5 mortgages could go into foreclosure without radical action.” Now just a minute here… you’re not saying that one out of five people with mortgages are “irresponsible sub-prime borrowers who never... (Continue reading)

What Does Bernanke Think? Does It Matter?

What Does Bernanke Think? Does It Matter?

If you miss you forecasts 11 months in a row, and by some significant margin, is it still considered forecasting, or does it become guessing? ... (Continue reading)

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Voting on Principal Reductions: Treasury: YES… FHFA: NO… Obama Administration: YES… Congressional Republicans: NO. Good Lord.

Voting on Principal Reductions: Treasury: YES... FHFA: NO... Obama Administration: YES... Congressional Republicans: NO.  Good Lord.

Obama has been pressuring FHFA to let Fannie Mae grant principal reduction... the President of the United States is pressuring them… Ohhh, is it like Guantanamo… or more like Canyon Ranch… pressure me some more, Barack… I like it when... (Continue reading)

Mandelman Commenting on ProPublica Article…

I never do this, but ProPublica posted an article about real life foreclosures not fitting the conventional wisdom of what most people think they are... they're not a bunch of low income minorities who should never have been able to... (Continue reading)

Watch Which Words You Use With Republicans They Could Take Their Toys and Go Home

Watch Which Words You Use With Republicans  They Could Take Their Toys and Go Home

The Republican’s version of the report is said to be a whopping 13 pages long, and is expected to place the blame for the crisis squarely on the shoulders of poor people who wanted to buy houses, and how some... (Continue reading)

LA Homeowners Arrested During Foreclosure Protest – Video

LA Homeowners Arrested During Foreclosure Protest - Video

ACCE says that now they plan to up the ante by " bringing together the collective power of the homeowners themselves in alliance with their supporters among labor unions, the religious community and community organizations." And in fact, among... (Continue reading)

BREAKTHROUGH: Why Americans Are Allowing the Foreclosure Crisis to Continue

BREAKTHROUGH: Why Americans Are Allowing the Foreclosure Crisis to Continue

More than half of our country doesn’t care about the foreclosure crisis because to them, it’s just bankers acting in their own best interests by foreclosing on homes that borrowers irresponsibly bought knowing they couldn’t afford them. It’s therefore... (Continue reading)

Oh, Stop It! Obama-GOP Deal to Extend Bush Tax Cuts Wont Create 3.1 Million Jobs.

Oh, Stop It!  Obama-GOP Deal to Extend Bush Tax Cuts Wont Create 3.1 Million Jobs.

I realize that Obama was ready to allow the tax cuts to expire now, but he’s also okay with allowing another 4-5 million homes be lost to foreclosure next year, and the same number the year after that. And... (Continue reading)

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Legal Aid for Homeowners: Perhaps the only thing on the planet for which TARP funds CANNOT be used.

Legal Aid for Homeowners: Perhaps the only thing on the planet for which TARP funds CANNOT be used.

For some strange reason I also had it in my mind that he was the one who wouldn’t tell us what the banks did with the TARP funds… like we had no right to know what the bankers did with... (Continue reading)

Zillow: U.S. Homeowners to Lose $1.7 Trillion in 2010, Already $9 Trillion Lost Since 2006

Zillow: U.S. Homeowners to Lose $1.7 Trillion in 2010, Already $9 Trillion Lost Since 2006

So… I have a question for my fellow Americans... and for elected representatives in Washington D.C. and state legislatures… and for that offensive, mindless twit Diana Olick on CNBC… Are we done irrationally punishing the so-called “irresponsible” people yet? ... (Continue reading)

Who’s Winning Here? The Foreclosure Crisis – A Slide Show

Who's Winning Here?  The Foreclosure Crisis - A Slide Show

Facing Change: Documenting America is a non-profit collective of dedicated photojournalists and writers coming together to explore America and to build a forum to chart its future. Mobilizing to document the critical issues facing America, FCDA teams will create a... (Continue reading)

Securitization Workshop in Sacramento, December 11, 2010… for Attorneys & Other Interested Parties

Securitization Workshop in Sacramento, December 11, 2010... for Attorneys & Other Interested Parties

This Securitization Workshop promises to be important, educational, and entertaining... it may be designed for lawyers, but I know lots of homeowners that would enjoy attending, and likely come away with actionable knowledge that could help save theirs and millions... (Continue reading)

How to Tell Legitimate Loan Modification Firm from an Illegal Operation or Scam… The FTCs New Bright Line MARS Rule

 How to Tell Legitimate Loan Modification Firm from an Illegal Operation or Scam... The FTCs New Bright Line MARS Rule

The facts of the matter today as related to the foreclosure crisis and loan modifications, however, could not be considered positive, I’m afraid. Help does not appear to be on the way, or on the horizon. As inconceivable... (Continue reading)

Martin Andelman, Bio & Backgrounder

Martin Andelman, Bio & Backgrounder

At 49 years old, and having originally founded my firm back in 1989, it’s been some time since I’ve been asked for a resume, as one might imagine. So, it’s also about time to commemorate what’s gone on over... (Continue reading)

The Fed Releases: The Beige Book, December 1, 2010, Summary of Economic Conditions. And I dont know what wed do without them.

The Fed Releases: The Beige Book, December 1, 2010, Summary of Economic Conditions. And I dont know what wed do without them.

The Beige Book, as it’s commonly known, is a report published eight times each year. Each of the 12 Federal Reserve Banks, which are located throughout the country, “gathers anecdotal information on current economic conditions in its District through reports... (Continue reading)


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