Posts tagged as:

you walk away

Banks Giving Some Homeowners Cash for Keys to Bail

by Moe Bedard

Despite federal loan modification programs to help struggling homeowners, many lenders are refusing to play ball and are proceeding with foreclosures.
But some of those same lenders are quietly paying people to move out and find another place to live.

It’s known as “Cash For Keys” and banks don’t talk about it publicly but, in some cases, [...]

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Homeowners Walking Away Becoming More Common

by Moe Bedard

“I’m walking away from my house,” says Sakson, 57, who stopped making payments about six months ago on her home in Pennington, N.J. “The bank can have it.”
What Sakson did is called a strategic default, or a voluntary foreclosure, and it’s fast becoming a major challenge to the government’s $75 billion effort to keep distressed [...]

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You Walk Away & 4 Other Foreclosure Firms Sued By Indiana AG

by Moe Bedard

INDIANAPOLIS – Indiana Attorney General Greg Zoeller today filed lawsuits in Boone, Clark, Delaware, Grant and Marion counties against five foreclosure consultant companies alleging violations of state laws.

“We recognize there is a foreclosure crisis in the country. Indiana has the tools in place that can help consumers avoid becoming victims of for-profit foreclosure consultants’ bad [...]

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Class Action Lawsuit Filed Against You Walk Away

by Moe Bedard

Distressed Homeowners Sue Carlsbad-based “Foreclosure Consultant” YOU WALK AWAY, LLC for Violations of California State Law -

“$995 for foreclosure advice? Why not pay for actually doing something… I have a REAL spell caster that can cast a wicked protection spell on those evil bankers so they leave you alone. – Reader Comment

The perfect storm for underwater real estate is reaching the tsunami boiling point and for companies that help homeowners ditch their homes and jump into a home saving raft like You Walk Away, business is absolutely BOOMING!

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Principle Reductions: Wipe Out Your 2nd Mortgage With Bankruptcy

by Moe Bedard

Millions of American homeowners are now upside-down on their home mortgage and they are looking for a way out. In some areas like the Inland Empire of California, local homeowners have seen values drop 30-50% and many are making a “business” decision to walk away without ever exploring ways to save their home. If you [...]

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America Underwater: Growing Number of Homeowners “Upside Down” on Mortgages

by Moe Bedard

With falling housing prices in nearly every market, the questions that homeowners are asking have shifted. Instead of asking “what is my home worth?” they are now asking “Is my home worth it?”
These problems are affecting the entire country, with nearly 1 in 6 homeowners owing more than their home is worth. For homeowners who [...]

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My home is not worth the stress anymore. I am getting a U-Haul and I am loading everything up.

by Moe Bedard

Submitted by JB Lawerence - Soon to be an ex-homeowner 
My home is not worth the stress anymore. I am getting a U-Haul and I am loading everything up.
I’m taking all my window coverings and blinds. I’m taking all my appliances and air conditioner. I’m pulling up my grass and my beautiful trees I planted. I am [...]

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Lender & Servicer Loss Mitigation 2.0 – The Homeowner is Now in Control

by Moe Bedard

Let’s face reality America. Almost every home in America is sitting in quicksand.
Slowly, but surely your home is sinking down, further and further and it looks like main street America is getting hip to the fact that lenders, servicers, Hope Now and our mighty government isn’t going to help them.
A new study, compiled by the [...]

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More homeowners mailing keys to lenders instead of payments

by Moe Bedard

Instead of mailing in their monthly mortgage payment, a growing number of homeowners are sending lenders their keys.
As housing prices fall and rates on some mortgage loans rise, more homeowners are walking away from their homes, according to housing-market watchers.
These typically are people who can afford their mortgage but don’t want to pay on a [...]

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Banks Must Write Down Loans to Prevent a Mass Homeowner Exodus

by Moe Bedard

The word is out and the banks and servicers need to get a clue. People are walking from their underwater homes in droves. What was once taboo has become the “smart” thing to do for many Americans.
This rhetoric that 50% of homeowners do not speak with their lenders or servicers is actually true.
But it isn’t because they [...]

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Has the Mass Homeowner Exodus Already Begun?

by Moe Bedard

Filed under: You Walk Away
NY Times:
Mr. Paulson reiterated his opposition to proposals for a government bailout of subprime borrowers, which would also bail out many lenders. But he acknowledged that mortgage lenders and mortgage-servicing companies were not moving as rapidly on loan modifications as he would have liked.
“Am I satisfied? No,” he said. “Am I [...]

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