Posts Tagged ‘bank of america’

Merrill Lynch Proves Clueless on Use of Home Equity in Retirement

Merrill Lynch Proves Clueless on Use of Home Equity in Retirement

The HECM program and other reverse mortgages are specifically designed for retirees looking to access their home's equity. For Merrill Lynch not to mention the HECM alternative in an advisory bulletin about accessing home equity in retirement makes that... (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)

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)

Bank of America: Lending Tight as Ever and Won’t Change Soon

Bank of America: Lending Tight as Ever and Won't Change Soon

What compelled me to write after reading the Origination News article was that it told a story that I've longed to read for a long time... finally, the mortgage industry was taking over my job these last six years, by... (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)

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

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)

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)

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)

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)

HUD to Resolve Key Reverse Mortgage Issues Going Forward

HUD to Resolve Key Reverse Mortgage Issues Going Forward

How would you like to find out that no one had told you that you had easy access to several hundred thousand dollars, and so not knowing, you made other plans that you didn't want to make and wouldn't have... (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

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)

Anyone Care to Bet? We’re in a Recession Now or Will Be Soon.

Anyone Care to Bet?  We're in a Recession Now or Will Be Soon.

Can we connect these dots? Housing market takes a dive, consumer spending craters causing retail earnings to collapse, with underlying employment numbers somewhere south of ghastly.... (Continue reading)

Forced Into Foreclosure ““ Want to See How it Happens?

Forced Into Foreclosure

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)

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)

A Visit to the Front Lines: Richmond, California, Eminent Domain & Mortgage Resolution Partners

A Visit to the Front Lines: Richmond, California, Eminent Domain & Mortgage Resolution Partners

So, I went to visit Richmond, California, so I could see what the town looked like, and to sit and talk face to face with the CEO of Mortgage Resolution Partners. Join me below and I'll take you on... (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)

Garfield In & Garfield Out. Neil’s Wrong on Servicer Advances.

Garfield In & Garfield Out.  Neil's Wrong on Servicer Advances.

  When it comes to legal theories related to foreclosure, Neil Garfield’s Living Lies Blog would have to be considered nothing short of jam packed.  An attorney, now practicing law in Florida, his ideas about foreclosure defense could be described... (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)

Christopher Whalen Quotes Me on HousingWire, Then Tom Cox Slams Me and Whalen on HousingWire

Christopher Whalen Quotes Me on HousingWire, Then Tom Cox Slams Me and Whalen on HousingWire

  So, here’s how my day went today… It started with Christopher Whalen quoting me in his article on HousingWire.  Chris had told me yesterday that he was planning on quoting me in an article, but I didn’t know when... (Continue reading)

Following in the Rich Tradition of Appraisal Fraud, Servicers Using Zillow® for Home Values

Following in the Rich Tradition of Appraisal Fraud, Servicers Using Zillow® for Home Values

Using a Zestimate to determine a home's value is almost like trying to make your mortgage payment using Monopoly money. And yet, homeowners and others involved in loan modifications from around the country have confirmed being told by Chase,... (Continue reading)

Frank & Brian Try to Help Salespeople Overcome Call Reluctance

Frank & Brian Try to Help Salespeople Overcome Call Reluctance

Call reluctance isn't some psychological problem that you can cure by talking to yourself or by being coached to pick up the phone within 30 minutes. You know why you're not calling your prospects... it's because you have nothing... (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

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)

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)

Is Eminent Domain to Write Down Mortgages Unconstitutional? A Mandelman Matters Podcast

Is Eminent Domain to Write Down Mortgages Unconstitutional?  A Mandelman Matters Podcast

Is the use of eminent domain to take over underwater loans and write them down for homeowners unconstitutional? Will the financial services industry tie up the plan to use eminent domain in the courts for years? Find out... (Continue reading)

Underwater and Unsolvable ““ A Lifetime of Homeowner Mortgage Debt

Underwater and Unsolvable

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

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)

Homeowner Loan Mod Success Story with JPMorgan Chase… and Mandelman Matters

Homeowner Loan Mod Success Story with JPMorgan Chase... and Mandelman Matters

And I have to admit that when I received the letter below, it brought a few tears to my eyes... and felt really good to know I had been able to help, but the credit really belongs to JPMorgan Chase... (Continue reading)

FDIC Shared Loss Agreements Did NOT Pay Off Your Loan (No Matter What AZ Court Seems to Think)

FDIC Shared Loss Agreements Did NOT Pay Off Your Loan (No Matter What AZ Court Seems to Think)

It's remarkable, if you think about it, how many people are supposedly trying to pay off your underwater mortgage once you've stopped making your mortgage payments. It's like there's a rush to pay off your mortgage once you default on... (Continue reading)

We’ve Solved a National Foreclosure Crisis Before, Why Not Now?

We've Solved a National Foreclosure Crisis Before, Why Not Now?

A large part of this protracted recession it said is due to households trying to reduce their debt levels, which in turn leads to less spending in the economy, driving the recession deeper and further.... (Continue reading)

Good News About Housing Recovery… Your Kids Will be Living With You for a Long Time

Good News About Housing Recovery... Your Kids Will be Living With You for a Long Time

So, if you add it all up, there's only one way that U.S. housing markets are recovering... Magical thinking!... (Continue reading)

Homeowner Alert: Scammer Masquerades as Bank, Offers Fake Loan Mods

Homeowner Alert: Scammer Masquerades as Bank, Offers Fake Loan Mods

Now there are scammers masquerading as banks, offering FAKE LOAN MODIFICATIONS... and if that weren't bad enough, the fake mods require homeowners to pay thousands of dollars for nothing.... (Continue reading)

Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth

Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth

Once a mortgage is underwater... should you get hit with a life event such as a divorce, illness, injury, job loss or income reduction... you can't sell your home... and you can't borrow against it to help you get through... (Continue reading)

Eminent Domain Part 3 with Cornell Law’s Professor Robert Hockett – A Mandelman Matters Podcast

Eminent Domain Part 3 with Cornell Law's Professor Robert Hockett - A Mandelman Matters Podcast

Eminent domain means taking over underwater loans and writing them down for homeowners. Professor Robert Hockett authored the plan, and is consulting with cities all over the country now considering using eminent domain to save their cities from becoming...... (Continue reading)

Eminent Domain to Solve the Housing Crisis – PART 2 with Prof. Robert Hockett

Eminent Domain to Solve the Housing Crisis - PART 2 with Prof. Robert Hockett

Eminent domain is not only being considered as a solution to the housing crisis by Richmond, California... there are now some TWO DOZEN CITIES across the country considering the plan authored by Professor Robert Hockett of Cornell University Law School.... (Continue reading)

Prof Robert Hockett: Need Eminent Domain to Break Securitization Suicide Pact Killing Recovery ““ A Mandelman Matters Podcast

Prof Robert Hockett: Need Eminent Domain to Break Securitization Suicide Pact Killing Recovery

Eminent domain to answer the problems with underwater mortgages? Well, the lines have been drawn... the battle appears eminent... pun intended. But Professor Hockett, the man behind the eminent domain plan, says it's not going to get tied... (Continue reading)

Why Can’t We FIX Something About the Loan Modification Process?

Why Can't We FIX Something About the Loan Modification Process?

I've seen my government fail at lots of things over the years, but this failure is too important and too costly to allow it to continue. We've lost more than five million homes to-date... and recent forecasts show we're... (Continue reading)

Our Housing Market’s Recovery is Eminent… Get It?

Our Housing Market's Recovery is Eminent... Get It?

Despite some very nasty threats of retaliation from Wall Street and Washington, something like two dozen new cities are now reportedly joining the efforts to potentially head off home foreclosures by using eminent domain to seize mortgages and write them... (Continue reading)

Who Doesn’t Need a Back-Up Plan for a Secure Retirement?

Who Doesn't Need a Back-Up Plan for a Secure Retirement?

Maybe the wealthiest retirees can get by without taking out a reverse mortgage as a way to protect their financial futures, but for the rest of us... not having funds from a reverse mortgage available is what's risky. And... (Continue reading)

Testimony to Martin Andelman from Homeowner with Bank of America Loan

Testimony to Martin Andelman from Homeowner with Bank of America Loan

Martin's blog is the place to go for the hard cold facts surrounding the housing crisis. He does not sugar coat reality, which sometimes make his articles hard to swallow. Even so, his blog is a vast well of... (Continue reading)

I have the best readers in the world… I am humbled by their words.

I have the best readers in the world... I am humbled by their words.

Mr. Martin Andelman is providing a much -needed function to humanity with his unfailing actions and skills as a media spokesman and intermediary to the banking/loan-servicing agencies. He needs to be acknowledged and compensated in kind for the work he... (Continue reading)

The Year is New… But the Housing Hype is the Same Old Thing

The Year is New... But the Housing Hype is the Same Old Thing

Is the foreclosure crisis coming to an end... not a chance. RealtyTrac latest report is utter nonsense. The year may be new, but the B.S. is all too familiar.... (Continue reading)

‘Twas the Night Before Christmas – 2013

'Twas the Night Before Christmas - 2013

'Twas the Night Before Christmas 2013 is an Annual Political and Economic Year in Review I write every year... I've been doing it since 2007, so this year makes it seven years in a row. If you want to... (Continue reading)

Borrowers Facing Foreclosure Should be Dancing in the Streets Over “˜X’ and “˜Z’ and Here’s Why

Borrowers Facing Foreclosure Should be Dancing in the Streets Over

So, there you have it... a solid check mark in the "WIN" column for consumers over the interests of the banking industry. And I don't think Realtors, mortgage brokers, or even the banks themselves have come to fully understand... (Continue reading)

I’m Betting We Get Extended Tax Relief on Forgiven Mortgage Debt for Christmas This Year

I'm Betting We Get Extended Tax Relief on Forgiven Mortgage Debt for Christmas This Year

Some are starting to worry about what is likely to happen if they let the Act's tax relief provisions related to foreclosure avoidance expire. I simply don't think there's any real chance they won't extend the Act for at... (Continue reading)

Bay Area Homeowner Writes to Say Thank You to Mandelman Matters and Bank of America

Bay Area Homeowner Writes to Say Thank You to Mandelman Matters and Bank of America

Ahsan Kushkaki discovered Mandelman Matters after Bank of America denied his loan modification. He was desperately seeking someone who might be able to help him explain the situation to the bank and after finding several of the thank you... (Continue reading)

We’re Not Stopping the Foreclosure Crisis because it Affects Mostly Brown People

We’re Not Stopping the Foreclosure Crisis because it Affects Mostly Brown People

This is not a tragedy that discriminates. The race diminished as a result of what is being allowed to transpire will be "human". ... (Continue reading)

NOW YOU CAN KNOW… How Much Your Investor is Losing by Foreclosing on Your Home.

NOW YOU CAN KNOW... How Much Your Investor is Losing by Foreclosing on Your Home.

I think the entire country is under the impression that servicers foreclose because it's in the best financial interests of the investors, and perhaps sometimes they do... but data from this trust and others I've looked at, to my way... (Continue reading)

Thanksgiving Day Memories and What I Want for the Holidays this Year

Thanksgiving Day Memories and What I Want for the Holidays this Year

How about if everyone who knows how to postpone a sale date, volunteers to help anyone who needs to postpone a sale date in December or at least for the first two weeks of January... in other words help postponing... (Continue reading)

The Rush for Rentals by Investors Turns Into a Run for the Exit

The Rush for Rentals by Investors Turns Into a Run for the Exit

In addition, spurned on by the Fed's QE and zero-interest-rate policy, Lord knows how many smaller companies and individual investors also jumped on the bandwagon, and as it has the tendency to do, the insanity drove up home prices at... (Continue reading)

I SAY GIVE HIM TWO ““ Ernie Banks Awarded Presidential Medal of Freedom

I SAY GIVE HIM TWO

Today, Ernie Banks was at the White House being awarded the Presidential Medal of Freedom by President Barack Obama. It is the highest civilian honor that this country bestows, and this year was the 50th anniversary of the award,... (Continue reading)

NOW AVAILABLE: The RMBS Trust/Modification Analysis Report for Homeowners

NOW AVAILABLE: The RMBS Trust/Modification Analysis Report for Homeowners

With this report, when your servicer says they can't do something... you'll know whether what they've said is accurate or not. Imagine the power of being able to show a mediator exactly what's been done to modify the other... (Continue reading)

GUEST POST: Don’t Be Concerned Martin Is Dead Wrong, by Michael Pines

GUEST POST: Don't Be Concerned Martin Is Dead Wrong, by Michael Pines

My article was nonsense, according to Michael Pines? Well, that would certainly be disappointing, I wasn't aware that I had ever written an article that was considered nonsense by anyone. I'm not saying that everyone likes what I... (Continue reading)

GLASKI TAKES A HIT: California Court Rejects Reasoning in Glaski Decision

GLASKI TAKES A HIT: California Court Rejects Reasoning in Glaski Decision

It's not a matter of the Diunugala case being considered "binding authority," because it's not. But the question is, will other California courts consider the case persuasive... and tend to follow the more established case law. If that's... (Continue reading)

Realtors & Mortgage Brokers: Toughest Year for Housing Markets Since 2010 Ahead

Realtors & Mortgage Brokers: Toughest Year for Housing Markets Since 2010 Ahead

This past September signified the fourth straight month of a decline in existing home sales, while mortgage interest rates hit two-year highs. The Mortgage Bankers Association index of mortgage activity is now at its lowest point since November of... (Continue reading)

The Discovery of Robo-Signing – Memorable Moments from the Foreclosure Crisis

The Discovery of Robo-Signing - Memorable Moments from the Foreclosure Crisis

By now the term "robo-signing" has practically become a household word. But it wasn't always that way. Just a few years ago no one had ever heard the term before. So, where did it all begin... and... (Continue reading)

The Weather In India – Memorable Moments from the Foreclosure Crisis

The Weather In India - Memorable Moments from the Foreclosure Crisis

President Obama said that all I needed to do to avoid foreclosure was get my loan modified. He said to just call my bank directly so I did. And I had the most interesting cultural experience. That... (Continue reading)

Re-Default Redoux… The Debate Over Loan Mods is as Stupid as Ever.

Re-Default Redoux... The Debate Over Loan Mods is as Stupid as Ever.

Another SIGTARP report shows Treasury knows nothing about loan modifications. Big surprise. Look, stop bothering Treasury... they don't want to know, so leave them alone. ... (Continue reading)

Another Hawaii Homeowner Writes to Thank Me for Helping Her Get a Bank of America Loan Modification

Another Hawaii Homeowner Writes to Thank Me for Helping Her Get a Bank of America Loan Modification

Another Hawaii homeowner writes to thank me for helping her with a loan modification at Bank of America. She's the one who did the heavy lifting, and I'm glad I was able to help push it over the finish... (Continue reading)

PODCAST: Saving Homes from Foreclosure in Ohio Today… with Ohio’s Former Attorney General Marc Dann

PODCAST: Saving Homes from Foreclosure in Ohio Today... with Ohio's Former Attorney General Marc Dann

Marc Dann Explains What Homeowners Need to Know About Foreclosure in Ohio... on this 12-Minute Documentary-style Video... When I visited with Marc this past year in his Cleveland offices, I interviewed him on camera in order to produce this 12-minute... (Continue reading)

You’re not STUCK with a low credit score. And you CAN’T afford to ignore it.

You’re not STUCK with a low credit score. And you CAN’T afford to ignore it.

The U.S. Public Interest Research Group showed that nearly 80 percent of credit reports contained inaccuracies, and the mistakes in a quarter of those could result in the individual being denied for credit. 60 Minutes reported that a government study... (Continue reading)

Straightening Out the LA Times, Fannie, Freddie, Strategic Defaults and Deficiency Judgments

Straightening Out the LA Times, Fannie, Freddie, Strategic Defaults and Deficiency Judgments

Writing about strategic defaults for the LA Times this time out was Lew Sichelman, whose ability to remain oblivious to his interweaving of unrelated facts throughout the article was truly something to behold. ... (Continue reading)

The “It’s Not Real Money” Argument – Perhaps the Best Way to Make the Banks Look Good in Court

The

The harm caused by our government's abominable handling of the foreclosure crisis... inconceivably made worse the complete absence of any communication on the subject by the Obama Administration... has barely begun to manifest itself let alone be understood... well, seemingly... (Continue reading)

The One Number You’re Forced to Care About… Your FICO Score

The One Number You're Forced to Care About… Your FICO Score

About 18 months ago, I started looking for a company that helped people improve their FICO scores. Not only was I interested in finding out how such services worked for my own personal reasons, but I also figured that... (Continue reading)

Homeowner Gets Permanent Loan Modification… Promises to Pay It Forward

Homeowner Gets Permanent Loan Modification... Promises to Pay It Forward

I just received the letter below from Melissa... a homeowner who has been reading Mandelman Matters for five years. She just received her second permanent loan modification from Bank of America and is quite pleased with the terms of... (Continue reading)

Meet Thomas Cox, Esquire. A National Hero in Foreclosure Defense

Meet Thomas Cox, Esquire. A National Hero in Foreclosure Defense

Portland Maine attorney Thomas Cox is a national hero of the foreclosure crisis. Frankly, I thought everyone already knew that, but apparently not. So, if you aren't already familiar with what Tom has done and continues to do... (Continue reading)

3 out of 3 Dismissed WITH Prejudice! Tom Cox for the Homeowner – A Mandelman Matters Podcast

3 out of 3 Dismissed WITH Prejudice!  Tom Cox for the Homeowner - A Mandelman Matters Podcast

  Stewart, Sawyer and Oathout… three Maine homeowners… three separate foreclosure cases… each dismissed with prejudice, meaning none of the servicers trying to foreclose gets another chance at foreclosure. And Maine’s foremost foreclosure defense attorney, Tom Cox, gets the credit... (Continue reading)

Deadly Clear Blog is Dead Wrong on UETA, E-Sign & Foreclosure… A Guest Post by Attorney Tom Cox

Deadly Clear Blog is Dead Wrong on UETA, E-Sign & Foreclosure... A Guest Post by Attorney Tom Cox

Here's a Guest Post by Tom Cox in response to a Deadly Clear post, "Is the Promissory Note Even Enforceable?" But the short answer is that the only thing that's deadly clear about the post is that if you try... (Continue reading)