It is hard to fathom how fast the non-bank mortgage service sector has grown, and how profitable it has become. It is a business that essentially grew from nothing, based on defaulted mortgages and the financial crisis. Essentially it has grown from the garbage….and the garbage man is making a fortune. Firms such as Ocwen, […]
The mortgage and foreclosure crisis that stunned our economy in 2007, has yet to resolve itself. Actually, the worst is yet to come. The statement “worst” does relate to the volume of foreclosures…it really relates the intensity of the process. The recent 2 year price spike in housing values, has pushed banks towards favoring repossessing […]
Are you in foreclosure limbo? This recent article in the New York Post ~ http://nypost.com/2014/03/01/many-nyers-living-sans-mortgage-bill/ ~ really hits the mark when it comes the new foreclosure limbo crisis looming. Though the crisis explains the problem at hand, it does not explain the destructive elements tied into foreclosure limbo. Banks and Federal Government have trained the […]
The Wall Street Journal has recently published a series of articles relating directly the current problems in the nonbank mortgage servicer arena ~http://online.wsj.com/article/BT-CO-20140212-711468.html. These articles focus on the abuse that has accelerated by servicers like Ocwen, Nationstar, Walter Investment Corp & National Mortgage Holdings Let us all keep one important thing in mind ~ […]
There is an old saying in in business ~ ” You get what you pay for”. This credo has been the focal point of many folks important business decisions. The business of foreclosure prevention / loan restructuring is really no exception to the rule. The US Government has developed a business model to restructure mortgage loans that […]
The facts and statistics don’t lie. Over the last two years many banks have not proceeded with foreclosure activity. The banks basically halted all foreclosure activity due to the looming federal lawsuits that they faced. They halted the the foreclosure train in its tracks. For many homeowners it seemed like a free ride. Lots of […]
The current mortgage crisis has been evolving over the last 5 years ~ throughout these years many homeowners have opted to default on their mortgage loans. The main reason for opting to default links to one main fact – Loss of Equity. Over 47% of all home owners have lost significant equity in their homes. […]
he recent 250 billion dollar settlement pressed on the banks may seem like a great deal on the surface. However, it has already caused a chain reaction of events that will cause turmoil in the foreclosure market. Lenders are speeding up the foreclosure process….plain and simple. The banks are no longer walking on egg shells….waiting […]
The mortgage mess just keeps getting worse. It seems like all the major banks (B of A, Wells Fargo, etc) just don’t want to deal with the collection hassles surrounding the delinquent mortgages. They under the watch of Big Brother (US Government) & simply are tired of spending money defending lawsuits. Hence, they have opted […]
THE 25 BILLION DOLLAR MORTGAGE SETTLEMENT. WHAT DOES IT REALLY MEAN FOR YOU? Recent press has disclosed that the US government has reached a paramount settlement with the top 5 US Banks. However, this 25 billion dollar settlement has a lot of grey area attached within. Listed below are the important points to understand if you are […]
That is correct. It is not a typo. Most people think I am insane for offering this to the everyone. However, we have found this method to be the most effective method for determining proper strategy on all defense cases. We will contact your your lender, do all initial discovery investigation & then determine the […]
Since the epic mortgage & credit crisis began in 2007, the government has launched many programs with the hopes of solving problems. The USA became a land of bailouts and handouts….everyone wants to know “where is my piece”. Non for profit groups were formed to mitigate the foreclosure problems at hand. Four years later….same problems….no […]
This is a very controversial issue…on Capital Hill….on Wall Street & on Main Street. The people have pleaded that we want a bail out….the banks received their bailout. Now we want ours!! What a mess. Everyone wants a free pass in life. When the real estate market melted down nearly 5 years ago, the Government […]
It is game on. The banks have eliminated any type of peaceful remedy with the Federal Govt ~ the Feds are suing the banks. The banks are foreclosing at a much more rapid rate. The banks will step out of bounds when proceeding with foreclosure activity. They will take there chances on getting hit with […]
The banks have pushed the pedal to the floor. Banks & mortgage servicers have elected to speed up up the foreclosure process. They are at war with the Federal Government over mortgage fraud issues….things are bound to get really ugly very fast. All of the broad based loan modification programs have failed….banks are having a […]
We are asked this question every day. After all, why should you pay when you can get help for free. Well, there are a number of things to consider when choosing to work with a non for profit group. 1. Remember since you are paying nothing, they have no direct obligation to help you. They […]
This from CNBC: Every time we get the monthly foreclosure numbers from RealtyTrac, we hear someone on TV say, ‘Well, the problem is really only concentrated in a handful of states.” Yes, the volumes are, the problems are not.Take a read from the RealtyTrac release: “Five states accounted for 51 percent of U.S. foreclosure activity […]
Right now there are nearly 7 million families facing foreclosure in the USA. Many families have reaped the benefits of a failed government loan modification system ~ essentially skipping many mortgage payments. Now they are facing the cold hard reality of foreclosure and seeking a new place to live. Many have not even tried […]
If your family is currently battling foreclosure, you may have felt as though you are not being heard when communicating your families’ hardship to the mortgage lender. Have you noticed that you seem to never have an opportunity to speak with the same person more than once? Does it feel as though no real urgency […]
There are some days when the phone rings off the hook in my office. The foreclosure problems that this nation faces is epic. The serious problems started in 4Q 2006….the problem has become much more complex since then. It is hard to believe this mammoth problem has existed for nearly 5 years….many economists feel that […]
One out of every ten home owners is severely late on their mortgages. Many have tried to complete loan modifications and they have been unsuccessful. Many banks are denying the loan modification requests and opting to sell the mortgage debt into the scrap mortgage debt market. The scrap mortgage debt buyers purchase the debt at 5 […]
Since the foreclosure crisis elevated in 2007, there have been millions of home owners trying to to save their homes from the clutches of foreclosure. Unemployment and excessive debt are the primary reasons many families fall into the foreclosure trap. For nearly everyone, the bad financial times don’t last forever. New jobs […]
In today’s market, if you are facing foreclosure ~ you are facing a serious problem. You are going to lose your home. You need to speak with an attorney!! Beware of the banks and the tactics that they used to mislead. Beware of deceptive double tracking ~ processing your foreclosure on one track & your […]
Recent horrible press against the banks will have them pressing the foreclosure process harder and faster. They simply do not have much of a choice. Quite frankly too many people are abusing the system. Negating mortgage payments from your budget for 18+ months can lead to a nice nest egg in the bank. Then there […]
Well the Feds have launched round 2 of the loan mod / foreclosure prevention plan. I guess this one costs less….14 billon dollars in comparison to the 61 billion that was wasted on the last plan. Every senior economist in the USA is wondering why the Federal Government just can’t leave the this problem along […]
Well you should be!! Since the serious increase in forclosures over the last 3 years, banks have been very eratic in the produres. They typically use little mind games to drive the home owner crazy. In some cases they file certain notices to try collect $$ ~ even though a loan modification is in process. […]
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