Sunday 15th December
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Not Surprisingly, HAMP & HARP Programs Extended Once Again
Written on 8 May, 2015 at 18:12
The FHFA has announced that it has extended Fannie and Freddie's participation in the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) for an additional year, until the end of 2016.... (Continue reading)
SAY WATT? Fannie & Freddie Encourages Sub-Prime Lending, Can Mean Only 3% Down
Written on 23 Oct, 2014 at 9:52
FHFA director Mel Watt, not ironically speaking while in Las Vegas, offered government's desperate response to help housing... the only thing they can think of to do at this point. ... (Continue reading)
RealtyTrac’s Blomquist: The Foreclosure Crisis is Well Behind Us. Mandelman: Oh, Shut-up Daren.
Written on 20 Sep, 2014 at 16:04
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
Written on 11 Sep, 2014 at 7:09
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.
Written on 8 Sep, 2014 at 16:30
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
Written on 3 Sep, 2014 at 18:50
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?
Written on 31 Aug, 2014 at 19:49
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?
Written on 29 Aug, 2014 at 20:33
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
Written on 26 Aug, 2014 at 18:22
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
Written on 20 Aug, 2014 at 5:13
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)
Finally, Florida & Connecticut AGs Shut Down Mass Joinder Lawsuit Scams
Written on 12 Aug, 2014 at 9:15
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.)
Written on 8 Aug, 2014 at 5:47
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
Written on 5 Aug, 2014 at 19:51
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
Written on 30 Jul, 2014 at 10:42
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
Written on 28 Jul, 2014 at 18:20
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!
Written on 1 Jul, 2014 at 0:15
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
Written on 30 Jun, 2014 at 20:03
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)
New York Launches New Foreclosure Avoidance Program… Hundreds Could be Saved?
Written on 29 Jun, 2014 at 8:03
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)
HUD to Resolve Key Reverse Mortgage Issues Going Forward
Written on 2 Jun, 2014 at 8:36
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
Written on 30 May, 2014 at 20:17
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)
Here Come the Happy Housing Numbers, but Foreclosures Up Year-Over-Year
Written on 26 May, 2014 at 1:43
In other words, the housing market hasn't recovered, and won't recover because it can't recover until the underlying fundamentals change, and that won't happen for a long, long time. It certainly won't happen as long as we refuse to... (Continue reading)
The blogger, lawyer, banker and borrower: A letter from home thanks to Bank of America.
Written on 20 May, 2014 at 8:04
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
Written on 19 May, 2014 at 0:36
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
Written on 13 May, 2014 at 12:17
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)
A Visit to the Front Lines: Richmond, California, Eminent Domain & Mortgage Resolution Partners
Written on 11 May, 2014 at 14:46
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.
Written on 10 May, 2014 at 21:33
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.
Written on 10 May, 2014 at 2:08
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
Written on 24 Apr, 2014 at 22:14
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
Written on 15 Apr, 2014 at 12:34
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)
Dear Fellow Travelers… a letter from a Mandelman Matters reader.
Written on 12 Apr, 2014 at 1:18
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)
Apparently White House is PLEASED with HAMP and Housing?
Written on 8 Apr, 2014 at 6:05
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)
Christopher Whalen Quotes Me on HousingWire, Then Tom Cox Slams Me and Whalen on HousingWire
Written on 29 Mar, 2014 at 22:10
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
Written on 26 Mar, 2014 at 6:31
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)
Is Eminent Domain for Underwater Loans Good for Homeowners? A Mandelman Matters Podcast
Written on 17 Mar, 2014 at 4:28
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)
POWER TOOLS for Investor Denials, the NPV Discussion, and Pushing a Servicer to Modify a Loan
Written on 11 Mar, 2014 at 9:09
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
Written on 10 Mar, 2014 at 7:37
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)
What I Know About Loan Modifications – 2014
Written on 4 Mar, 2014 at 3:11
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.
Written on 27 Feb, 2014 at 23:06
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
Written on 27 Feb, 2014 at 0:18
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
Written on 26 Feb, 2014 at 20:36
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)
We’ve Solved a National Foreclosure Crisis Before, Why Not Now?
Written on 24 Feb, 2014 at 18:12
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
Written on 22 Feb, 2014 at 19:38
So, if you add it all up, there's only one way that U.S. housing markets are recovering... Magical thinking!... (Continue reading)
Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth
Written on 21 Feb, 2014 at 4:03
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
Written on 18 Feb, 2014 at 3:37
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
Written on 11 Feb, 2014 at 11:37
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
Written on 26 Jan, 2014 at 12:45
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)
Testimony to Martin Andelman from Homeowner with Bank of America Loan
Written on 7 Jan, 2014 at 9:12
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.
Written on 7 Jan, 2014 at 8:32
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
Written on 2 Jan, 2014 at 17:22
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
Written on 25 Dec, 2013 at 6:49
'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
Written on 12 Dec, 2013 at 1:38
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
Written on 11 Dec, 2013 at 14:30
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
Written on 11 Dec, 2013 at 4:38
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)
NOW YOU CAN KNOW… How Much Your Investor is Losing by Foreclosing on Your Home.
Written on 30 Nov, 2013 at 5:06
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
Written on 28 Nov, 2013 at 19:06
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
Written on 26 Nov, 2013 at 23:55
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
Written on 21 Nov, 2013 at 7:34
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
Written on 15 Nov, 2013 at 21:11
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)
GLASKI TAKES A HIT: California Court Rejects Reasoning in Glaski Decision
Written on 13 Nov, 2013 at 2:16
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
Written on 11 Nov, 2013 at 16:51
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)
IBANEZ & BACK: Attorney Glenn Russell Back in Front of the Mass Supreme Court – A Mandelman Matters Podcast
Written on 9 Nov, 2013 at 5:42
Well, fast forward to today and Glenn Russell is still very much on the attack on behalf of homeowners, in fact, he just finished arguing his latest case, again in front of the Massachusetts' High Court. I don't want... (Continue reading)
The Discovery of Robo-Signing – Memorable Moments from the Foreclosure Crisis
Written on 6 Nov, 2013 at 20:24
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
Written on 6 Nov, 2013 at 20:14
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.
Written on 5 Nov, 2013 at 19:38
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
Written on 2 Nov, 2013 at 20:35
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)
“Hardest Hit” Funds Apparently Hard for Government to Spend
Written on 2 Nov, 2013 at 12:16
The SIGTARP is talking about the "Hardest Hit Funds," which were the roughly $8 billion provided by the federal government in the beginning of 2010 to the states hardest hit by foreclosures in order to help their respective housing markets...... (Continue reading)
IT’S DAVID STERN DAY! This Mandelman Matters Podcast is RATED ‘R’ for language.
Written on 31 Oct, 2013 at 21:41
So, what kind of punishment do you think one gets for doing what Stern did... backdating countless assignments, forging anything that wasn't nailed down, and disregarding just about every single law related to foreclosure in the State of Florida? ... (Continue reading)
Straightening Out the LA Times, Fannie, Freddie, Strategic Defaults and Deficiency Judgments
Written on 22 Oct, 2013 at 19:59
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
Written on 22 Oct, 2013 at 10:37
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
Written on 22 Oct, 2013 at 7:04
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)
SECURITIZATION: How our society changed when we learned to turn lead into gold.
Written on 30 Sep, 2013 at 13:07
Before securitization children were raised receiving fewer presents for their birthdays and holidays and I don't need a source for that statistic. Water is wet, the sky is blue, and that's a fact. Hotel rooms never cost $600... (Continue reading)
New Abuses in the Foreclosure Process Make the Dire… Dreadful
Written on 23 Sep, 2013 at 9:09
More than any other single factor, shame has made it possible for this country to lose over six million homes to foreclosure... and relative to the number of homes lost, they've been lost without a peep uttered in protest. ... (Continue reading)
Interest Rates Play Havoc with Banks, Bonds and Borrowers
Written on 1 Aug, 2013 at 8:50
Long-term interest rates rising means different things to different people, but none of it's good. Higher long-term rates makes it much more expensive for state and local governments to borrow money, and you can probably guess how that would... (Continue reading)
The National Debate Over Loan Modification Re-defaults is Stupid
Written on 30 Jul, 2013 at 8:45
Not surprisingly, the combined effect of the three high-profile reports on borrower performance after having their loans modified, made headlines that have sparked a national debate... yet again. It was a stupid debate back in 2009, and it's an even... (Continue reading)
Hawaii Homeowner Writes to Thank Mandelman for Helping with Bank of America Loan Modification
Written on 22 Jul, 2013 at 23:17
Diane and John Bobek, homeowners in Hawaii that I was able to help with their Bank of America mortgage, writes to thank me. ... (Continue reading)
Why I haven’t written about the declarations by ex-Bank of America employees.
Written on 22 Jul, 2013 at 8:30
I'm watching a fight for millions in cash that involves banks, pissed off ex-bank employees, and class action lawyers... and I'm supposed to be able to pick out which one is telling the most truth? Isn't that like asking... (Continue reading)
Homeowner Nancy Frost Says Mandelman Made Loan Modification at Bank of America Work For Her
Written on 21 Jul, 2013 at 23:04
It's far from being the only time I've seen Bank of America do something like this when no one is watching. I truly believe that they made the decision to buy back the Frost's loan from Fannie, because they... (Continue reading)
Fannie, Freddie and FHA Finally Increase Homeowners’ Ability to Modify Mortgages
Written on 18 Jul, 2013 at 9:24
Ladies and Gentlemen... finally... ... after five years of sheer torture... introducing a "No-Doc" loan mod. The FHFA says modified interest rates will be FIXED... terms will extend to 40 years... and some borrowers won't be required to pay... (Continue reading)
A Sword in a Field – Correlation is Not Causation
Written on 16 Jul, 2013 at 12:57
It's easy to misinterpret something about this crisis. But, it's important that we try to guard against that happening whenever possible for all sorts of reasons, not the least of which is that being wrong means wasting time that... (Continue reading)
Foreclosures Impact One in 10 Children in this Country Today, Report Shows
Written on 10 Jul, 2013 at 14:49
No matter, the more important conclusion reached by the report is that, "Nearly four years later, the problem shows no signs of abating." And isn't that just a lovely thought that made me throw up in my mouth a... (Continue reading)
Our Foreclosure Story Ended Happily because of Martin Andelman and Bank of America
Written on 9 Jul, 2013 at 22:10
Although I'm still not sure why, one moment we were packing our home into boxes and the next Bank of America had bought back our loan from Freddie Mac and given us the loan modification we had prayed to get... (Continue reading)
I’ve Seen More for Homeowners from Bank of America than Any Other Servicer By Far
Written on 9 Jul, 2013 at 5:44
One homeowner that I contacted Bank of America about, a disabled vet, ended up with a fixed interest rate of one tenth of one percent for forty years. And on more than one occasion, I saw the bank buy... (Continue reading)
My Experience with Bank of America, Martin Andelman and Getting My Loan Modified
Written on 8 Jul, 2013 at 20:26
I wrote this to you and other homeowners because I've been a witness to what Martin's help can lead to and what a homeowner can accomplish even when that homeowner has stopped believing that anything can work. Just because... (Continue reading)
Illinois Attorney Saves Homes from Foreclosure Using Reverse Mortgages
Written on 25 Jun, 2013 at 21:08
Reverse mortgages are not going to be an available path for many homeowners facing foreclosure, but for those 62 and older... who have equity in their homes... they can offer an answer and benefits that no other path can provide...... (Continue reading)
What Happens in Nevada with Foreclosures, Ends Up on Mandelman Matters
Written on 25 Jun, 2013 at 4:03
It absolutely fascinates me, for example, that the Nevada legislature, in amending the law, took the time to write in a sentence saying: "require an affidavit containing a local or toll-free telephone number at which borrowers can obtain the current... (Continue reading)
Mandelman Appears on Washington State Public Television Show on Foreclosures …
Written on 23 Jun, 2013 at 23:59
I was asked by Janet Reiner to appear on her community access television show about the foreclosure crisis and I agreed. Along with me was John Wright from Piggybank Blog and I think the whole thing is worth... (Continue reading)
I’m Not a Total Idiot, You Know.
Written on 10 Jun, 2013 at 21:41
So, I know... you want to read about how a homeowner won some major victory in the courts somewhere... or how someone filed and got quiet title to their property... or how a bank couldn't figure out who owned a... (Continue reading)
PART TWO – How to Take Your Power Back When at Risk of Foreclosure
Written on 10 Jun, 2013 at 18:48
Understand... I'm not telling you which path you should choose, but I am saying that you should choose one and then do everything in your power to achieve the goals that lie at the end of that path. Just... (Continue reading)
Discussing Foreclosure Crisis Solutions with Impac Mortgage CEO Joe Tomkinson
Written on 10 Jun, 2013 at 4:39
I think Impac has proven that it has the capability and desire to be a meaningful part of the solution to the foreclosure crisis... they successfully modified tens of thousands of loans, and in general, they got loans modified in... (Continue reading)
Alabama Slamma’ – Not for Better, Far Worse… As Foreclosures we Chart.
Written on 21 May, 2013 at 6:42
We seem to be having a national recovery in much of the media, but in the states themselves the numbers are refusing to cooperate. I guess if you can have a "jobless recovery," then you can probably have a... (Continue reading)
The Foreclosure Bowl: Connecticut Finally Makes it Into Top 10
Written on 20 May, 2013 at 10:53
RealtyTrac Vice President, the ubiquitous Daren Blomquist, said he had "no immediate concern" related Connecticut's newfound foreclosure prowess, which makes perfect sense since he's not losing a home there. ... (Continue reading)
Foreclosure Surprise! Stomping on Maryland Homeowners
Written on 20 May, 2013 at 7:45
So, how do I know where the other undiscovered and unreported stockpiles of foreclosures are hiding as the banks wait until they feel like recognizing losses, having fixed the document problem to the degree that they can start booting people... (Continue reading)
What Makes a Mortgage a “Bad Loan?” I’m Confused.
Written on 20 May, 2013 at 4:43
Or do we only judge a loan to be "bad" after it defaults, and because it defaults? Assuming there are NOT predatory practices involved, is a loan "good" until it defaults and then it becomes "bad." And is... (Continue reading)
Nevada Legislature Considers Passing its Own Homeowner Bill of Rights
Written on 18 May, 2013 at 12:27
Nevada's legislature is considering adopting its own Homeowner Bill of Rights, and in fact, the bill... SB 321... has already passed the Nevada State Senate and is headed to the House.... (Continue reading)
South Carolina’s Hardest Hit Funds Farce… Failing but Finally Changing?
Written on 18 May, 2013 at 3:40
It's been 3.5 years since the money was made available. It's time for the programs funded by hardest hit funds to help homeowners... stopping foreclosures with aggressive benefits and inclusive qualifying requirements. Surely we know what doesn't work...... (Continue reading)
One Bank Did Right by Homeowners & Shareholders – A Story You Haven’t Heard Before
Written on 17 May, 2013 at 17:40
There is one mortgage banker that did it right for their shareholders and borrowers. They didn't take TARP funds or any sort of tax-payer funded bailout... instead they took their losses, restructured the company, and protected their shareholders... ... (Continue reading)
Denial and Avoidance Won’t Fix Housing or Grow Economy
Written on 16 May, 2013 at 6:56
I wish we'd stop with the false bottoms and imaged recovery stories so we could actually concentrate on making some much needed improvements in how we're handling our economic malaise, because that's the only way we're going to see any... (Continue reading)
I’m Back in the Saddle Again… What’d I miss? Nothing, unfortunately.
Written on 13 May, 2013 at 13:40
I know many have been wondering where I've been for the last two months from the slew of emails I've received, I thought I'd explain what I didn't want to explain at the time... and let everyone know that not... (Continue reading)
Homeowner’s Scheme Makes Bad Situation Worse… Ends Up in Jail
Written on 6 Mar, 2013 at 6:40
The problem is that when we start believing things that aren't true... even though do so might make us feel better for the moment... that's when we lose all of our power. No one is powerful when they've got... (Continue reading)
Illinois Latest State to Make Foreclosing Much Harder
Written on 23 Feb, 2013 at 10:22
Okay, so that's GAME OVER for the State of Illinois. Ball four... take a hike... we'll see you back here in 2014 or 2015. Take some time off, you deserve it. ... (Continue reading)