November 2007

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 [...]

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 [...]

Can I get one Governor to join my loan modification fight? Great, welcome aboard Governor Strickland. Let’s make it two Governors. Come one. Can I get another one? OK, way to go Governor Spitzer!!!!! New York Governor, Mr. Spitzer has called [...]

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 [...]

Modify these loans please. OK, one more time. Can you please fix these loans and help struggling borrowers? Damn it, I’m not going to ask you schmucks again, this is the last time I ask nicely! People are suffering from [...]

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 [...]

This is a follow up to my Countrywide Loan Officer Breaks RESPA Law & It’s All Documented Right Here  post. I am not here to bash Countrywide or their loan officers. If I had it my way, I would be [...]

Mortgage lenders are fighting lawmakers’ efforts to enable bankrupt borrowers to reduce the size of their home loans, arguing this change would magnify the housing crisis by driving up interest rates. The House Judiciary Committee put off a vote Wednesday [...]

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 [...]

Michael Jackson’s Neverland Ranch is on the auction block. He is the one homeowner that I could give a rats a$$ about. Sorry Michael Jackson fans. May his Neverland Ranch go on the auction block as fast as possible and [...]

 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 [...]

Oh, do you think so Mr. Frank? Well, I would say that we definitely have a national crisis and I would think that it’s turning into a financial catastrophe, FAST! The House Financial Services Committee on Tuesday approved what I [...]

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 [...]

I am an average guy that likes to keep things simple and easy. I don’t like to use huge words to explain overly complicated things because that would just well, complicate things. Plus, I think there are a lot of the bloggers and [...]

Geez…..I have been saying this for sooooooooooooooooooo long and now, finally, the so called experts and leaders of our world’s banks and so called experts finally seem to agree. Central bankers met in London and had this to say about [...]

I love visiting Aaron Krowne’s blog, www.ML-Implode.com. That website has been a huge hit from day one and it receives an astonishing 100,000 plus uniques visitors daily! This is the most comprehensive website that follows the fall out of the [...]

This statement is coming from the manager of the world’s biggest bond fund (PIMCO). This just isn’t some schmuck. He knows what the hell is going on and Bill Gross tells it like it is. Unlike the other BS’rs on the Street. Bill Gross [...]

House Financial Services Committee Chairman Barney Frank and other Democrats on the panel told administration officials time was critical, given statistics showing that 2 million subprime mortgages will reset in coming months at much higher monthly payments, greatly raising the [...]

 An article came out yesterday in the San Francisco Gate that addressed how appraisers were “pressured” to inflate values on properties they appraised. What, did brokers hold guns to their heads to force them to over state property values? HELL NO!Appraiser [...]

  Brokers are getting thrown under the bus, again. I have been blogging about this for quite some time. My predictions were that brokers would slowly be forced out of business and they would be blamed for our mortgage and housing crisis. [...]

Lenders have designed a new device that will help delinquent and struggling homeowners who seek help from their lender. Apparently it will work in concert with their loss mitigation teams in India and compliment their state of the art loss mitigation strategies [...]

 The mess is massive and the clean up gargantuan! Over $2517 BILLON of this toxic sludge is out there right now! I’m speaking of the biggest mortgage, housing, financial, and economic crisis EVER! I’m talking about the most ridiculously defective credit instrument that was ever designed or [...]

November 2, 2007HP-664 Under Secretary for Domestic Finance Robert K. SteelTestimony before the House Committee on Financial Services Washington- Chairman Frank, Ranking Member Bachus, Members of the Committee, good morning. I very much appreciate the opportunity to appear before you [...]

  I always enjoy reading Peter G. Miller’s blog posts over at FHALoanpros.com and also the many other publications and real estate oriented websites that he writes for. Peter’s weekly columns appear in more than 100 newspapers nationwide, he is also published in a variety [...]

IIan C. Shepherdson economist for High Frequency Economics voiced his opinion recently in regards to the Federal Reserves views and recent comments on the housing crisis. “My core view is that they really don’t get it,” said Ian C. Shepherdson, the United States economist [...]

I have promised my readers that I would follow this new deal that the Neighborhood Assistance Corporation of America (“NACA”)  has with Countrywide.   What apparently looked like a sweet deal is actually a really sour deal for most homeowners. Yes, [...]

  Yes, I agree that many homeowners never reach out for help when they are facing foreclosure. Many are unaware that  they can be helped and they end up suffering silently and just eventually become another statistic of the foreclosure [...]