November 2007

I thought I would share some commentary from Diana Olick of CNBC in regards to her listening to a hearing of the House Financial Services Committee this morning.
She said they were talking about “mortgage issues and then said (I know, I’ve really got to get out more).”  Yes, we all do, but the facts are that this [...]

For Immediate Release:                                                            Contact:  Aaron McLearTuesday, November 20, 2007                                                                  Sabrina Demayo Lockhart                                                                                                                916-445-4571
California’s Foreclosure Rate Twice the National Average With California impacted more than any other state by the national home foreclosure crisis, Governor Arnold Schwarzenegger worked with loan servicers from Countrywide, GMAC, Litton and HomeEq to agree to streamline “fast-track” procedures to help keep more [...]

The perfect crime is being perpetuated across America and there seems to be no laws or any way to prevent it.
A new scam has been born with the advent of foreclosure boom. Predatory Renting“This is an explosion,” said Judith Liben, a lawyer at the Massachusetts Law Reform Institute. “This isn’t business as usual. These are investors that [...]

At least one U.S. Congressman is asking the Bush Administration to help resolve the subprime debacle by declaring an emergency “foreclosure moratorium.”
In a letter sent to the president last week, U.S. Congressman Chaka Fattah (D-PA) urged the president to “call on the industry to declare a six-month moratorium on all foreclosures.” He added, “The moratorium [...]

Story Submitted by a Middle Class Hard Working Mother:
As one of the “ignorant” buyers who fell for the oky doke, I’d like to make a few small comments. I’d like to give a voice to the middle class, hard working single mothers out here who have been slapped in the face with the reality that [...]

A story we broke this past Tuesday in regards to the Ohio Federal Court Deutsche Bank ruling has been getting a tremendous amount of attention, and rightfully so. It wasn’t long after we posted it here that dozens of bloggers and forums were circulating in the news and around cyberspace.
Calculated [...]

- Partnership will Bolster First American’s Default Outsourcing Services for Mortgage Servicers Nationwide -
November 15, 2007: 08:32 AM EST

DALLAS, Nov. 15 /PRNewswire-FirstCall/ — First American First Lien Outsourcing, a member of The First American Corporation family of companies, announced today that it has partnered with National Bankruptcy Services (NBS), the nation’s premier provider of bankruptcy [...]

By: Nathan Fransen, Esq.
I am an attorney practicing in California, representing consumers against lenders.  I want to share a story that is unfortunately all too common.
A client came to me with what I expected would be a problem I could resolve relatively quick.  Approximately two years ago they had refinanced their primary residence.  They had [...]

Are you having trouble with your mortgage? Has it adjusted and you cannot afford the new payment? Were you placed into a bad loan and you can’t refinance into a good one?
The first thing that a homeowner should do is identify that the mortgage on their current property is a lawful one. Meaning that there [...]

The message is out to lenders. Start working with struggling borrowers or WE WILL MAKE YOU!
This past week was a great step forward for struggling homeowners and been quite a week on the mortgage crisis forefront. Heads are starting to roll in the form of new indictments and investigations as Congress drills Ben Benake about what the Federal Reserve is going to [...]

FOR IMMEDIATE RELEASE:
November 8, 2007
GOVERNOR SPITZER AND ATTORNEY GENERAL CUOMO ADVANCE INITIATIVES TO ADDRESS IRRESPONSIBLE HOME LENDING PRACTICES
HALT Task Force Expands Efforts to Address Subprime Lending Crisis
Governor Eliot Spitzer today met with Attorney General Andrew Cuomo and members of the Governor’s Halt Abusive Lending Transactions (HALT) Task Force to address the subprime and foreclosure crisis [...]

The allegations keep coming and the investigation have begun boys and girls. Pull up your favorite easy chair, crack open your favorite drink and watch the biggest financial scam in US history play out in front of your very eyes.
You are watching the beginning of the perfect storm and the storm is going to affect [...]

Every homeowner needs to be aware of the scams that are out there and the people that are taking advantage of down on their luck borrowers. Here’s some excerpts from the Cincinnati Enquirer on one of these recent scams.
Operating under the name American Foreclosure Group LLC, Randall Webb promised to negotiate with lenders for strapped homeowners [...]

I like Senator Schumer and always enjoy watching him speak and the passion he conveys in his words. A man who tells it like it is and takes no BS.
This morning I was watching Squawk on the Street and had the pleasure to hear and watch Mr. Schumer who is also a member of the Senate Finance [...]

 Oh, I love these emails. You know the ones when someone is asking for advice when they are dealing with a lender and you get all the dirt on the lender. Well, wouldn’t you know, that lender is on my $h*t list. Mine and your favorite toxic loan originator, Countrywide.
I get so excited. If you [...]

I know the attorneys hate when I say this and it’s not legal advice or advice at all. But I think that homeowners should unite. 2 million of us and stick it too lenders. Say, “OK, you want to play hardball? You want treat us like crap? Well, our credit is shot any way and [...]