Posts Tagged ‘foreclosure’

A Reverse Mortgage Ruined His Life?  Nonsense.  Not true.

A Reverse Mortgage Ruined His Life?  Nonsense.  Not true.

The reverse mortgage didn’t cause Mr. Feil any harm. In fact, it’s because of the HECM reverse mortgage that Mr. Feil was able to keep the home instead of losing it to foreclosure.... (Continue reading)

DOER ALERT: Support Homeowner Survivor Bill of Rights – Extend Foreclosure Protections to Widowed Spouses

DOER ALERT: Support Homeowner Survivor Bill of Rights - Extend Foreclosure Protections to Widowed Spouses

Senate Bill 1150... “clarify the responsibilities of a mortgage lender when a borrower dies and passes the home along to a survivor who wishes to assume the home loan.” Lenders say that widows and heirs, if not on the... (Continue reading)

Are You Overestimating Your Ability to Access Your Own Money in Retirement?

Are You Overestimating Your Ability to Access Your Own Money in Retirement?

I’ve found that most homeowners are dramatically overestimating their ability to pay off mortgages in retirement and/or access the equity in their homes once retired.... (Continue reading)

Measuring the Real Costs of Credit Damage

Measuring the Real Costs of Credit Damage

The question is how you can determine whether the damage done to your credit reaches the degree that it makes sense to try to recover monetary damages as part of a lawsuit.... (Continue reading)

11 Sale Dates in One Year… and then the bank modified his loan?

You don’t need to keep re-setting a sale date every month... unless you want to absolutely ruin someone’s credit report until it’s beyond recognition. It should show one sale date/Notice of Sale, and then a postponement as he awaited... (Continue reading)

Credit Scoooooooooore! By Tom Lewis of DailyImpact.net

Fair Isaac, the FICO score company, announced that they're introducing a new higher score to get people borrowing again. But will we fall for it this time?... (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)

Underwater and Unsolvable – A Lifetime of Homeowner Mortgage Debt

Underwater and Unsolvable – A Lifetime of Homeowner Mortgage Debt

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)

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)

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)

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)

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)

HOMEOWNER FORECLOSURE SCAM ALERT!

HOMEOWNER FORECLOSURE SCAM ALERT!

If you receive a solicitation that looks or says anything like what you see below, DO NOT RESPOND TO IT... IT IS A FRAUD... IT HAS NOTHING TO DO WITH THE ATTORNEY GENERAL OFFICE. ... (Continue reading)

What is Strategic Default? A Moral Dilemma?

What is Strategic Default? A Moral Dilemma?

What is a strategic default? These days, it occurs to me, there would be even less morality involved in the decision to walk away from a mortgage. I can’t believe anyone actually feels morally obligated to a bank today.... (Continue reading)

If Your See This in Your Mailbox, Don’t Throw It Away

If Your See This in Your Mailbox, Don't Throw It Away

Tweet The OCC’s Independent Foreclosure Review program has started sending out the program’s Review Forms, which are required to begin the process.  A reader  sent me this photo of what the form looks like when it comes in the mail, so now... (Continue reading)

Ex-Asst. Treasury Secretary Herb Allison Back at Beautiful Connecticut Home

Ex-Asst. Treasury Secretary Herb Allison Back at Beautiful Connecticut Home

See, because in the old days public servants, those that worked for the government, seemed to make less money than Phil Donahue or Marlo Thomas. They didn't used to have 7,379-sq.ft. 1911 wood and stucco $25 million Greens... (Continue reading)

Im So Happy that I Ignored the whole AGs-Investigate-the-Servicers Thing

Im So Happy that I Ignored the whole AGs-Investigate-the-Servicers Thing

Well, what they’re calling the Attorneys General “Term Sheet” is out and to kick it all off, I went with an analysis of the AG’s work product written by Joshua Rosner, who is Managing Director at independent research consultancy Graham... (Continue reading)

Mandelman’s Monthly Museletter… Version 10.0

Mandelman's Monthly Museletter... Version 10.0

1. California’s ex-AG, Governor Jerry Brown Settles Countrywide Suit for $6.5 million. 2. Mandelman ADMITS HE WAS WRONG About AZ’s Foreclosure Program’s Potential. 3. Wall Street Journal: $135 Billion for Bankers in 2010… Breaks Previous Record Set in 2009.... (Continue reading)

INSIDE CHASE and the Perfect Foreclosure

INSIDE CHASE and the Perfect Foreclosure

“And we documented what went on with each file so that if the investor came in to audit the files, everything would be accurate in terms of what had transpired and in what time frame. It was all about... (Continue reading)

Its a Matter of Principal – HAMPs New PRA

Its a Matter of Principal - HAMPs New PRA

And NPV 4.0 is what drives the PRA, which is a “deferred principal reduction program” that allows the homeowner to earn a principal reduction over a three-year timeframe by making all payments in accordance with the loan’s modified terms. According... (Continue reading)

GM, GMAC & the US Government… Have You No Shame?

GM, GMAC & the US Government... Have You No Shame?

The workers at the NUMMI plant were quite familiar with GMAC, because the mortgage lender was the only mortgage lender given access to the plant employees to sell them on refinancing their homes. "Put your cars, your credit cards... everything... (Continue reading)

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I Think Its Now Safe for Me to Speak Out About Loan Modifications and the Secret NPV

I Think Its Now Safe for Me to Speak Out About Loan Modifications and the Secret NPV

I’ve been waiting for this day for almost a year. The day I could stop beating around the bush and come right out and talk about the “secret” NPV and loan modifications. Because I’ve known about the “secret”... (Continue reading)

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Have a “Plunder Party” and Help Change Our World

Have a

PLUNDER - The Crime of Our Time, is a movie produced and directed by Danny Schechter, that shows what Wall Street did to destroy our economy. It's the first movie that clearly shows that what's happened over the last... (Continue reading)

The FTC Needs a More Reasoned Approach to Stop Loan Mod Scams

The FTC Needs a More Reasoned Approach to Stop Loan Mod Scams

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)

The Question of Bankruptcy

The Question of Bankruptcy

Having now spoken with several people who have struggled with the question of filing bankruptcy, I’m just trying to offer my two cents in case it might help even one person. ... (Continue reading)

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RED ALERT: Mortgage Bankers Strongly Oppose New Foreclosure Bill in California – SBX8 38

RED ALERT: Mortgage Bankers Strongly Oppose New Foreclosure Bill in California - SBX8 38

I have but one thing to say to the Mortgage Bankers Association… Kush meer in toches. You can figure that one out without a Yiddish dictionary, right?... (Continue reading)

SPOTLIGHT ON: The Law Offices of Kenneth E. Gertz

I’ve gotten to know Ken well over the last six months and I’ve had the opportunity to see how he works. First of all, Ken takes on a relatively small number of clients each month. He’s no assembly... (Continue reading)

Why Banks Are Better at Making Loans Than Modifying Them

Why Banks Are Better at Making Loans Than Modifying Them

I thanked my new present value oriented friend and hung up. Next I would need to find a homeowner whose loan had been modified directly by the bank as a result of their request. This wasn't easy. Lots of refinancing,... (Continue reading)

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First State Licensed Loan Mod Professional in the Country Goes to Work Today

First State Licensed Loan Mod Professional in the Country Goes to Work Today

When the Nevada legislature began discussing a proposed bill that threatened the very existence of the private sector loan modification firms, Mandy wasn't dissuaded for a moment. Although she had never considered a career lobbying government before, she... (Continue reading)

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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)


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