January 2008

Paulson said the administration is fostering an effort to “prevent this market failure”

I was reading this Smart Money article yesterday and I couldn’t help but notice a phrase that Paulson said a couple times. WASHINGTON (Dow Jones) — U.S. Treasury Secretary Henry Paulson said Monday the administration is working to ensure that the [...]


Posted in Political News | Leave a comment

“I believe that banking institutions are more dangerous to our liberties than standing armies” – Thomas Jefferson

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that [...]


Posted in Loan Modification News | 60 Comments

In 99 percent of the residential foreclosure cases, plaintiffs are asking the court to accept a promissory note copy as the original because it is presumed lost

 If car dealers can keep track of titles, banks can track promissory notes, Joseph Lents says. Somebody has been trying to foreclose on Joseph Lents’ Boca Raton home for five years. So far, they have been unsuccessful because he has [...]


Posted in Loan Modification News | 35 Comments

Mortgage Broker Stabbed in Home Invasion by a Disgruntled Client

And we thought the only thing “shady” loan officers and brokers needed to worry about were more regulations and finding a job. Now, it looks like some disgruntled clients may be looking for a pay back and it’s not just money [...]


Posted in Loan Modification News | Leave a comment

Richard Davet – Can someone please help me locate Mr. Davet in Ohio?

I had wrote a story a few days back about a homeowner in Ohio that fought his foreclosure for 11 years. His name is Mr. Richard Davet.  The story was titled Ohio Homeowner Fights Foreclosure and Lives Payment Free for [...]


Posted in Loan Modification News | 11 Comments

Is your lender charging you for questionable fees? Fight back against predatory fees!

By Moe Bedard “Mr. Jones, you owe $12,327 to stop foreclosure on your home and bring your mortgage current.” The lender’s collections employee says to Mr. Homeowner Jones that is desperately trying to save his home of 27 years. Mr. Jones [...]


Posted in Loan Modification News | 41 Comments

We are looking for Countrywide borrowers that are in unaffordable and predatory loans

We are looking for Coutrywide borrowers that are stuck in a mortgage that is unaffordable or predatory. We want to help you fight back against Countrwyide Home Retention Department and make them fix your mortgage with a loan modification. If you [...]


Posted in Loan Modification News | 51 Comments

Homeowners Beware of Internet Foreclosure Scams

One of the reasons I started this blog and my forum at www.LoanSafe.org, was to create safe and predator free websites where homeowners can visit and obtain timely and free information without being scammed. I have been offered thousands of [...]


Posted in Scam & Fraud News | 21 Comments

Judge: Mediate foreclosures

The Cincinnati Enquirer reported BATAVIA – A judge plans to launch a mediation program to reduce the number of foreclosures on houses in Clermont County. Even residents who own their homes outright or don’t have trouble making mortgage payments have [...]


Posted in Loan Modification News | Leave a comment

They did not understand the product themselves so no way could they educate the borrower

 By DJ Having been in the wholesale end of the business with Option Arms as one of my products, 99% of the time the loan officer would ask for “max prepay, max rebate”. (mortgage lingo = I want to make [...]


Posted in Mortgage News | Leave a comment

Prudent Man Lending = Fiduciary Responsibility

By Poppy (30 year mortgage industry veteran)  It is the 3 C’s – Credit, Capacity and Collateral, of course the idea that Credit = Willingness to Repay; Capacity = Ability to Repay/Assets to Afford the Ongoing & Initial Outlay, and Collateral [...]


Posted in Mortgage News | 55 Comments

It’s Not All Subprime. Pay Option ARM’s – California’s Billion Pound Gorilla

By Moe Bedard Let’s get something straight. Subprime loans are not the only thing that we need to worry about in this housing and mortgage crisis. It’s the hidden mortgage creatures in the “adjustable rate forest of the unknown” that [...]


Posted in Mortgage Help | Tagged , , , | 166 Comments

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