Posts Tagged ‘principal reductions’

Study Shows Foreclosure-related Suicides Doubled, 2006 – 2010

Tweet Well, finally, (at least as far as I’m concerned) the American Journal of Public Health has published the results of a comprehensive study on foreclosure- and eviction-related suicide, which it should come as little surprise, shows has more than... (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)

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)

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)

The National Debate Over Loan Modification Re-defaults is Stupid

The National Debate Over Loan Modification Re-defaults is Stupid

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)

Bank of America’s SVP Eric Tellijohann Provides an Advance Update on the National Mortgage Settlement Progress

Bank of America's SVP Eric Tellijohann Provides an Advance Update on the National Mortgage Settlement Progress

What's going on inside BOA as of the end of the second quarter of the National Mortgage Settlement? Here's your chance to hear it straight from the source... in advance of the monitor's report. Another Mandelman Matters Exclusive!... (Continue reading)

Loan Modification Process Improving at BOA and Other Servicers

Loan Modification Process Improving at BOA and Other Servicers

why would Smith publish a report whose only meaningful certainty was to scare even more homeowners away from paying attention to Bank of America's borrower outreach efforts? BOA and its peers were already having a hard time reaching... (Continue reading)

What is Ed DeMarco Thinking?

What is Ed DeMarco Thinking?

Edward DeMarco of the FHFA is the conservator for the GSEs, Fannie Mae and Freddie Mac. At this point the president, the Secretary of the Treasury, and many in congress have asked him about participating in anything... HAMP, principal... (Continue reading)

Attention Homeowners & Lawyers: AG Mortgage Settlement Launches Online Complaint Sites

Attention Homeowners & Lawyers: AG Mortgage Settlement Launches Online Complaint Sites

I for one am glad to see that this country is finally taking the foreclosure crisis seriously and that my tax dollars are being put to good use, and I really do hope that everyone take advantage of the new... (Continue reading)

If WE owned a pool of loans would WE allow principal reductions?

If WE owned a pool of loans would WE allow principal reductions?

To really understand what happens when trying to determine the present and future value of a pool of loans within a mortgage-backed security, let’s put ourselves in the place of the investors… we’ll be investors together… and we’ll want to... (Continue reading)

GUEST POST: Good for the Banks, Good for the Borrowers by Law Professor, Lauren E. Willis

GUEST POST: Good for the Banks, Good for the Borrowers by Law Professor, Lauren E. Willis

With so many Americans removed from the pool of potential buyers, those who own their homes with smaller mortgages or outright cannot sell their homes for decent prices, trapping them too in place and forcing some to delay retirement. The... (Continue reading)

Bringing Up the Rear Dale Westhoff, Credit Suisse Group AG

Bringing Up the Rear  Dale Westhoff, Credit Suisse Group AG

Apparently, right before you made your idiotic comments about moral hazard, saying that principal write-downs won’t save homes, Credit Suisse had just won the bidding process and as a result bought $7.014 billion in face value RMBS from the Federal... (Continue reading)

MM EXCLUSIVE: AZ Bill Writes Down Underwater Loans for Homeowners – A Mandelman Matters Podcast

MM EXCLUSIVE: AZ Bill Writes Down Underwater Loans for Homeowners - A Mandelman Matters Podcast

"In Arizona we don't ignore problems, nor do we pretend they aren't there," Sen. Reagan explains. "Obviously, the federal programs aren't going to address our state's needs, and that's fine. We're perfectly capable of doing what's best for... (Continue reading)

Credit Suisse Tells Bloomberg: Mortgage Principal Cuts Dont Help Homeowners?

Credit Suisse Tells Bloomberg: Mortgage Principal Cuts Dont Help Homeowners?

Reducing mortgage balances is a risky idea that hasn’t been shown to keep borrowers who owe more than their property’s worth in their homes, according to Credit Suisse Group AG. (CSGN). Suspending accounting rules is a risky idea that hasn’t been... (Continue reading)

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HO, HO, HOmeless… A Sobering View of the Crisis Affecting Us All

HO, HO, HOmeless... A Sobering View of the Crisis Affecting Us All

And to the homeowners who feel ashamed… who have suffered the indignity of losing a home in silence… this wasn’t your fault. You didn’t break the bond market and send housing prices into a free fall. You didn’t... (Continue reading)

The Care Bair – FDIC’s Sheila Bair Wants Principal Reductions from Banks With Loss Sharing Agreements

 The Care Bair - FDIC's Sheila Bair Wants Principal Reductions from Banks With Loss Sharing Agreements

I know… you think not modifying those loans is punishing the homeowners for getting in over their heads… but in realty, it’s not punishing them… it’s punishing you… you are running about, commenting on blogs, advocating the kicking of your... (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)

Guest Post: Principal Reduction Modification Math, by Rick Rogers, JD/MBA

Guest Post: Principal Reduction Modification Math, by Rick Rogers, JD/MBA

This report will compare the Net Present Value (NPV), of standard Home Affordable Modification Program (HAMP), modifications with Principal Reduction Alternative HAMP (PRA HAMP) modifications. If the mortgage principal balance on a home exceeds 115% of its market value,... (Continue reading)

Hawaiian Homeowners Pay Unexpected Visit to Bank of America in Honolulu

Hawaiian Homeowners Pay Unexpected Visit to Bank of America in Honolulu

You know… I’ve been wondering when the Hawaiians were going to get into the game on this loan modification foreclosure thing and there you have it… and they brought Valentine’s Cards and sang a song. ... (Continue reading)

New Fed Governor Sarah Bloom Raskin Gives Me Reason to Hope

New Fed Governor Sarah Bloom Raskin Gives Me Reason to Hope

I read her speech yesterday evening; parts actually gave me chills, and parts left me with a hopeful tear in my eye. She says almost exactly what I’ve written in my articles on at least dozens and at this... (Continue reading)

CalHFA’s $2 Billion Home Rescue Program… Here’s How Stupid They Think We Are.

CalHFA's $2 Billion Home Rescue Program... Here's How Stupid They Think We Are.

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)

Tomorrow, February 3rd, is Call Your Attorney General Day to Get Tough on Foreclosure Fraud!

Tomorrow, February 3rd, is Call Your Attorney General Day to Get Tough on Foreclosure Fraud!

Tomorrow is call your Attorney General Day nationwide. I need you to take action here... it's time to be heard. The foreclosure crisis must be stopped and servicers must be held accountable for their crimes.... (Continue reading)

Howie Hubler’s Loan Value Group… Proof That Wall Street Has No Idea What’s Happening on Main Street

Howie Hubler's Loan Value Group... Proof That Wall Street Has No Idea What's Happening on Main Street

Want to know who Howie Hubler is? Did you read Michael Lewis' book, "The Big Short," because if you did, you might remember Lewis mentioning a bond trader at Morgan Stanley that lost the investment bank $9 BILLION... more... (Continue reading)

JPMorgan Chase: We Had So Many Buy-Backs That We Had to Put This Policy in Place

JPMorgan Chase: We Had So Many Buy-Backs That We Had to Put This Policy in Place

CHASE now says that their new policy prohibits the postponing of sales, regardless of the reason, if the request to postpone is made within 7 days… or maybe 5 days… or it could be 2 days (depending on who you... (Continue reading)

At the Bank of America Signpost Up Ahead, Your Next Stop – The Loan Modification Zone

At the Bank of America Signpost Up Ahead, Your Next Stop - The Loan Modification Zone

A homeowner wrote to me the other day, and I could tell from her emails that she had been through the ringer trying to get a loan modification. I've heard from so many thousands of homeowners that I've gotten... (Continue reading)

The Article that Started it All: Pigs, Puppets and People in Peril

The Article that Started it All: Pigs, Puppets and People in Peril

Here it is... the first article I ever wrote for The Niche report magazine. Click the linked title below: Pigs, Puppets & People in Peril. Seems like soooo long ago... ... (Continue reading)

When Outrage Becomes Rage. Historically speaking, this story doesnt end well for anyone.

Tomorrow, the country will go on as it did yesterday, foreclosures will continue essentially unabated, and more and more Americans will fall into the abyss of disenchantment with all authority… the frequent and extended strikes by workers during the 1970s... (Continue reading)

Short Sale Power Hour Does Mandelman Matters Live!

So... there's a site called ShortSalePowerHour.com that's seriously into Mandelman Matters. They're a couple of very funny real estate types that specialize in helping real estate agents with the whole short sale thing. ... (Continue reading)

Who is Freddie Mac to Strategic Defaulters? Well, I Have a Message for Freddie Mac.

Who is Freddie Mac to Strategic Defaulters?  Well, I Have a Message for Freddie Mac.

What is Freddie Mac anyway? I’ve personally spoken with several thousand homeowners from all over the country, hundreds that have considered walking away from their mortgages, or are now in the process of doing so, and let me assure... (Continue reading)

HAMPs New Enhancements are Stupid and Im Getting Tired of Stupid

HAMPs New Enhancements are Stupid and Im Getting Tired of Stupid

They did it again, damn it. The Harvard contingent that’s packed in like sardines in this administration once again demonstrated that they have no idea what they’re doing when it comes to the foreclosure crisis.... (Continue reading)

As Pressure Mounts, Bank of America Plans Principal Reductions for Underwater Homeowners

As Pressure Mounts, Bank of America Plans Principal Reductions for Underwater Homeowners

Bank of America will offer qualified homeowners an interest-free forbearance of principal that the homeowner can turn into forgiven principal annually over five years, provided they stay current on their mortgage payments. Over the five-year period, homeowner can bring... (Continue reading)

Mandelmans Monthly Museletter: Issue 4.0

Mandelmans Monthly Museletter: Issue 4.0

1. A Trial Period Modification is NOT a Modification 2. Mandelman’s Mandates… 3. Bernanke Blathers… 4. A Deflationary Spiral That Dreams of Being a Standstill 5. How’s the President Doing With His Whole Loan Modification Thing? 6. How About a Principal Reduction? Why yes,... (Continue reading)

Who Are We Punishing?

Who Are We Punishing?

We wanted to punish Germany after WWI. That's what the Treaty of Versailles was intended to do... punish the country that had caused so much pain. It was a bad idea. Ultimately it led to WWII. We learned, and we... (Continue reading)

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