Wednesday 4th December
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CalHFA’s $2 Billion Home Rescue Program… Here’s How Stupid They Think We Are.
Written on 10 Feb, 2011 at 10:14
You see, it's a very well thought out no-lose proposition, this new California foreclosure rescue program... because if the banks refuse to participate in it, which would kill the whole principal reduction aspect of the plan, it's really not a... (Continue reading)
Obama Administration in a Scramble to Do Something Right for Housing Market
Written on 13 Sep, 2010 at 7:54
Most of the suits allege that the trial modification plans are contracts, and that Bank of America and every other servicer broke them by not granting permanent modifications to homeowners who made their trial payments on time and provided the... (Continue reading)
Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach
Written on 25 Aug, 2010 at 6:57
Potential Game-Changer Alert... District Court Judge Says Homeowner is the Intended Third Party Beneficiary to the contract between Fannie and servicers... and that means the right to sue yours.... (Continue reading)
It’s a Matter of Principal – HAMP’s New PRA
Written on 6 Aug, 2010 at 7:31
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)