Archive for the ‘Uncategorized’ Category


Thursday, August 27th, 2020

As a result of the Covid 19 Pandemic, millions of homeowners have been offered forbearance plans by their mortgage servicers.  The thought of “no payments” seemed very appealing to many up front, but the hidden long term agenda is very tricky.  Ultimately a forbearance plan is nothing more than “letting the bills” pile up….then what?  […]


Wednesday, August 8th, 2018

DEFAULTED SECOND MORTGAGES – BRINGING SETTLEMENT TO THE CHAOS   Defaulted second mortgages are wreaking havoc for many home owners.  Collection agencies and collection law firms have serious interests in collecting on this debt.  The profit margins are high and the collection tools that can be used are vast.  This debt that once was considered […]


Tuesday, May 22nd, 2018

The simple answer to this is YES!  Contrary to what the general public has been led to believe, foreclosure action on second mortgages and HELOC’s are really big problem.  Mortgage servicers can foreclose, buy out your first mortgage and then proceed with eviction.  Since HELOC’s carry the same traits as credit card debts, open foreclosure […]


Thursday, May 25th, 2017

The foreclosure crisis that launched in 2007, hit a zenith in 2011 and continues to drag on, has new serious problems on the frontier.  As mortgage servicers try to figure out how to handle the problem of serious delinquent loans (12+ months late), the new age of “fraudulent loan modification agreements”  has surfaced.  Padded loan […]


Sunday, December 11th, 2016

The Federal Government mortgage relief programs, like many administration funded programs, is set to close out on 12.31.16.  The most notable relief program in that group is the HOME AFFORDABLE MODIFICATION PROGRAM, otherwise known as HAMP.  The HAMP program, which was launched in 2009, for the most part has been a colossal failure.  Though it […]


Thursday, September 22nd, 2016

As the “loan modification” has become a household word over the last 8 years, the complaints from home owners surrounding the process have surged.  Lost paperwork, lack of process transparency and lack of cooperation are definitely at the top of the complaint list.  Keep in mind that both banks and non-bank servicers do NOT want […]


Tuesday, June 7th, 2016

As a 28 year veteran of the financial and credit industries, I remember the days when banks originated a mortgage and collected interest to make their fortunes.  Those days are gone….long gone…their exodus has created a giant monster, known as the “non-bank mortgage servicer.”  Don’t get me wrong, non-bank servicers have been around for a […]


Wednesday, September 30th, 2015

The aftermath of the 2008 financial crisis has left a myriad of problems on the foreclosure front. Home owners have been “brain washed” to believe that their lender is looking out for their best interest. The Federal Government has implemented a long series of loan modification programs designed to cure foreclosure crisis. The programs have […]


Tuesday, September 1st, 2015

The perils of Chapter 7 bankruptcy and loan modifications The Great Recession that wreaked financial havoc on so many families, has left deep battle scares. Some of the most complex scars surround Chapter 7 bankruptcy and home ownership. Many home owners have been ill advised on the actual repercussions of mortgage loans and discharged debt. […]


Monday, June 8th, 2015

This is a question that has baffled many distressed home owners for years.  You would think the answer to this question is a “no brainer” yes.  However, the contrary has really been the case per past record.  Though retaining an “attorney” allows you to flex your muscles somewhat, that flexing can be very short lived.  […]

~~Lending falls at an epic pace

Wednesday, February 24th, 2010

The front page of the Wall Street Journal tells the whole story. Everyone is wondering why we are in a jobless recovery. The answer is simple ~ short term credit is not available. Banks and borrowers are at a serious impass….banks just aren’t lending to anyone but the “perfect borrower”. The perfect borrower days are […]

~~Loan mods getting tougher to do every day!!

Thursday, February 18th, 2010

It is like we are turning back the hands of time here. Banks are acting as though “The Great Recession” never occured & the economy is huimming right along. Have they lost their mind? The after math from this economic blow out will take at least 8 years to clear out. The compounded problems that […]

***Predatory lending cases now exposed!!

Sunday, February 14th, 2010

The volume of predatory lending cases that are coming our way is unbelievable. Most of these mortgage loans were originated during the 2007 to 2009 time period….this is when things dried up considerably in the mortgage business….loan officers were scrambling to close business. Retail loan shops were closing loans that did not benefit the borrower […]

~~When will poor credit be the norm?

Wednesday, February 10th, 2010

This is a question that I ponder often. It seems like so many people have fallen through the cracks ~ into bad credit land. The stats show now that the average credit score in the US is a 583….down from 678 4 years ago. This just goes to show you how many folks had artificially […]

~~Are we at the end of a 9 year double dip recession?

Thursday, February 4th, 2010

Everyone has different thoughts about the recent economic fiasco we have been through. It has been labeled “The Great Recession” by many….my thoughts are thoat it was the deep tail spin of a double dip recession that began in Sept 2001. Every remember?? We had just endured the longest stretch of economic expansion of all […]

~~A Sure Bet

Wednesday, February 3rd, 2010

There are few things that I consider to be a sure bet. The bet that the Federal Government is going to stay out of the foreclosure crisis is a a sure one. They spent 75 billion dollars to get get 30,000 loan modifications done….a collosal waste of money….the non for profit groups are screwing up deals […]

~~Tarp money for the people??

Sunday, January 31st, 2010

Lets get one thing straight, I am a free market economist. I do believe in very little Gov’t intervention when it comes to private sector of the economy. I also believe that all economic problems have a way of curing themselves over time ~ the the macro economic cycles always bring balance back. However, I […]

~~True Success with Bank of America

Friday, January 29th, 2010

Well B of A is up to their old games again. Refusing to work loan mods deals, twisting numbers & not following through properly. We are currently working a case where the customer clearly qualifies under the HAMP program ~ reducing her payments by 25%. There were various issues involving the dismissal of her Chapter […]

Should people pay a fee to complete a loan mod?

Thursday, January 28th, 2010

This has been a hot topic for some time now. We all hear the stories about the rip offs…..what we don’t hear is the failed mods that turn into lost homes. Lost homes because the person working the case did not have the right experience. Lost homes because the non for profit agent has 1000 […]

Loan Mods Getting Tougher Daily!!

Tuesday, January 26th, 2010

I you received any type of loan mod in 2008 or 2009 ~ consider yourself very lucky. All lenders are getting very tough on loan mod submissions….especially if you are more than 6 months past due. They personally feel that any client more than six months late has abused the system & expected the Obama plan […]

The new battle royal~ Gov’t vs Banks

Saturday, January 23rd, 2010

Well, it seems like we have quite the old fashioned brew ha ha going here. I have to salute President Obama for his gutsy moves against the banks to attempt to get the current banking fiasco in order. We the people paid for the bailout $$ that helped the banks regain solid footing and become […]

Stop Living in the Past!!

Thursday, January 21st, 2010

I am a big fan of CNBC. Rick Santelli is always out on the edge ~ however he had 5 very important words to say early this morning ~ “Stop living in the past”. These were just the words I wanted to hear at 6:30 am. Everyone is still standing around waiting for a bailout. […]

Another Foreclosure Auction Sale Date Stopped!!

Thursday, January 21st, 2010

Client called me at 8:30pm last night in a panic frennzy ~ his house was set to be sold at auction on Friday 1/22/10. I had him fax in specific paperwork to me today at 6am MST. We we able to stop the sale date to day based on initial hardship presented and financial documents […]

Well ~ The Big Banks have reported Big Profits!!

Wednesday, January 20th, 2010

The news is out this morning….Wells Fargo, Chase & B of A are all way in the black. The Tarp $ went in the door did its job for the banks. Most of the $$ was kept in treasuries as reserve. None was used to enhance the loss mitigation departments on a grand level. No […]

Is the Gov’t loan mod program a failure?

Tuesday, January 19th, 2010

This has been a recent hot topic lately. I think the answer to this question is both yes & no. You must understand all the circumstances surrounding this current loan modification fiasco in order to make any type of judgement at all. This involves looking at everything from the beginning. First of all, the loan […]

Success on a tough loan modification case!!

Monday, January 18th, 2010

This was a true battle….medium size bank that did not want to cooperate at first….was glad to win this one…. Dear Tim Stull, I just wanted to “THANK YOU” for all you have done for my family. If it wasn’t for you we would’nt still have our home. You took the time to listen and […]