January 2008

January 31, 2008    US Treasury Press Room HP-792Washington -Chairman Dodd, Ranking Member Shelby, Members of the Committee, good morning, I very much appreciate the opportunity to appear before you today to present the Treasury Department’s perspective on “Foreclosure Prevention and [...]

 Please join our one of a kind homeowner’s forum to help you stop foreclosure and where you can ask questions and get answers in this unique and interactive community. This forum was created to assist people in an anonymous, yet open question [...]

Reader Contributed – RC  (in response to this post on the MBA) I don’t comment to these posts on all the forms I read (seemingly all day long lately), but I felt I needed to put in my brief 2 cents [...]

There has been a recent change in the air and it looks like the tides are starting to change for the better for those homeowners who are wishing and a hoping to modify their exploding, adjustable rate mortgage. There has been strong resistance [...]

Borrowers Who Negotiate Loan Terms with a Mortgage Broker in Spanish, Must Receive Their Loan Documents in Spanish Hablas Espanol? Su casa es mi casa! “Just sign right here on this mortgage and real estate contract. I know you cannot [...]

By JacMac – Homeowner & Single Mother from New York See her actual Loan Modification Paperwork From Countrywide Here.  An incredible 5.25% 4o Year Fixed Mortgage! You don’t get to see an actual loan modifcation document often and I wanted homeowners to see [...]

Something strange has happened over in Countrywide land. A weird occurrence and pattern is emerging from the Mozilo camp and it has me a bit baffled. They are actually helping people fix their loans now. Yes, you heard it right. [...]

I received a call last night from a nice gentleman who works as an underwriter in Chase’s loss mitigation department in San Diego, California.This unit of Chase is also known as the “ARM Unit”.  In the course of the conversation he told me [...]

Submitted by Eddie V. What did you expect from an industry practice DOES NOT require Background checks on it’s employees? I know this because I work at a well known Bank that currently has a 38% fallout ratio on applicants [...]

NEWPORT BEACH, Calif., Jan. 14 /PRNewswire-FirstCall/ — Downey Financial Corp. announced today changes to previously reported levels of non-performing assets. These changes pertain to non-performing asset levels since June 30, 2007. Rick McGill, President, commented, “As previously reported, we implemented [...]

Countrywide loan modification. People think that I enjoy reporting doom and gloom. Some people out there in the bogsphere think that I get my thrills by bashing Angelo Mozilo and Countrywide. One person has went so far to say this about my blog, [...]

By Poppy (30 year mortgage industry veteran/senior underwriter)  It has been a long, difficult and contentious day….between the Brokers, AE’s and Processors, none of whom appear to know that there are two “g’s” let alone a “t” in mortgage.  It leaves [...]

This is huge news and it looks like Countrywide borrowers will now be dealing with Bank of America. I will get all the details I can on how this will affect Countrywide borrowers that are in the loan workout and [...]

This is going to be my first post where I mention Countrywide and I do not bash them. I have said many times that Countrywide Can’t. This week they showed me that Countrywide Can. 3 real people ontained a loan modification from Countrywide. [...]

By JacMac – Single Mother & Homeowner From New York Emotionally foreclosure is a terrible experience for people. There will be divorces, people will lose jobs, et cetera purely because of the emotional stress they’ll be under. Depression is a [...]

It’s been a six-year battle for Mike Dillon, who is trying to save his home from a foreclosure the courts say should never have happened. It began in 2001, when the company servicing Dillon’s loan was sold. According to Dillon, [...]