January 2010

Loan servicers act as middlemen between borrowers making mortgage payments and investors who own their loans.  It’s the loan servicing company that is responsible for  managing the loan. Though they play a crucial role in the subprime mortgage mess, they [...]

Warren Buffett is in talks to buy Residential Capital — which controls Costa Mesa-based Ditech.com — from GMAC, the New York Post reported just before the holidays. National Mortgage News ran a more recent story on ResCap, saying the Buffett [...]

Naples — In the early morning darkness, Nathaniel Keith hitched his pontoon boat to his white Ford F150 pick-up, got in the truck’s cab and drove out of River Park, leaving his home of 47 years behind. His small, white [...]

TOPEKA, Kan. (AP) – Two men from California have been sentenced for filing fraudulent bankruptcy petitions in Kansas to bilk homeowners who were facing foreclosure. U.S. Attorney Lanny Welch says 43-year-old Isaac Yass, an Israeli who was living in Los [...]

As 2010 approaches, regulators and prosecutors are scrambling to uncover and pursue more fraudsters, while lawmakers seek to close regulatory gaps through legislation and give enforcement officials more resources. In a bid to restore investor confidence, President Obama in May [...]

(From the BBB) 1. Work-at-Home and Fraudulent Employment Opportunities – These scams promise high income for minimal work and minimal effort. However, when an interested consumer “applies”, they almost always ask for money up-front to pay for materials, training kits, [...]

If any of you understand banking and the reality of the world in which we live, then you understand that these are not failed banking deeds, but a carefully planned slaughter of the sheep. (AKA CONSUMERS) Of course the sheep [...]

LINCOLN, Ill. – A central Illinois Veterans of Foreign Wars hall could soon close because it can’t pay its mortgage. Quartermaster Vince Long says VFW Post 1756 in Lincoln owes $20,000 and is three months behind on its payments. The [...]

Pictured is California attorney and licensed real estate broker Gary M. Erickson of the Erickson Law Center, Get My Credit, Green Credit Solutions, Trilogy Real Estate etc.  From Krista Railey: Great job Moe. You called this right from the beginning [...]

MILFORD — A lot of people say “Over my dead body.” Vincenza Garcia meant it. Rather than comply with a foreclosure notice and allow a marshal to evict her from the home she loved at 55 Earle St., Garcia took [...]

In fact, some mediators caution foreclosure cases aren’t even true mediations. There’s little to no negotiation that occurs at the table, said Fort Lauderdale real estate attorney and foreclosure mediator Shari Olefson. In many cases, a homeowner’s finances are simply [...]

Why do you think that the banks are dragging their feet? Here’s the shocking secret – it’s called a “Shared-Loss” agreement. This agreement is with the FDIC, the government insurer. FDIC has this same agreement with around 50 banks. A [...]