Another Happy Client
7-12-12 I only post a quarter of the modifications we complete, and I have not posted any of them for some time.I will get caught up on that job when we get back from our road trip vacation. But I just...
View ArticleCan I keep a credit card out of bankruptcy?
Can I keep a credit card out of my bankruptcy? by Chip Parker, Jacksonville Bankruptcy Attorney http://www.bankruptcylawnetwork.com/can-i-keep-a-credit-card-out-of-my-bankruptcy/ The Bankruptcy Code...
View ArticleWho is Liable on Business Credit Cards?
Business credit cards and the individual bankruptcy case by Cathy Moran, California Bankruptcy Lawyer Small corporations may have their names on the shareholder’s credit card, but likely are not...
View ArticleMERS Loans In Washington Must Now Be Foreclosed Judicially
In Bain vs. MERS, August 16, 2012, the Washington Supreme Court states: A plain reading of the statute leads us to conclude that only the actual holder of the promissory note or other instrument...
View ArticleMisconceptions About Modifications
Read Richard Fonfrias on Seven Costly Misconceptions About Mortgage Loan Modifications:...
View ArticleOCWEN – Principal Reductions – 2% Rate
OCWEN Principal Reduction: We negotiated a $93,000 principal reduction for this couple, provided they remain current on their payments for three years. The rate is 2.0% fixed for 25 years. Read the...
View ArticleMidland Mortgage Modification
We negotiated a good deal for Dennis and his wife. They went from a 9.5% rate to 2.0% for five years, then 3.0% for a year, and 3.875% for the balance of the loan. They also got a $24,000 principal...
View ArticleSuccessful EMC Modification
We have several modifications going with EMC. So far EMC seems to be reasonable to work with. Meanwhile, EMC is being sued. A young couple came to us with a 7.0% negative amortization EMC loan. We were...
View ArticleSuccessful Citi Modification
On this modification with Citi there was no principal reduction because the property was not underwater. However, the interest rate was reduced from 6.375% to 2.0% for five years, 3.0% for one year,...
View ArticleList Your Lawsuit When You File BK
What Happens When a Debtor Forgets to Schedule a Personal Injury Suit Thanks to Long Island Bankruptcy Blog Posted on Tuesday (August 21, 2012) at 3:43 pm to Bankruptcy Practice Chapter 7 Bankruptcy...
View ArticleGMAC Modification Makes Contractor Happy
8-31-12 VZ is a hardwood floor layer and general contractor. His business tanked when the Great Recession set in. He got behind on his home mortgage. Payments were high at 7.8%. However, in 2010 his...
View ArticleModifying Loans on Rental and Commercial Property
Under HAMP Tier 2, the Making Home Affordable program was extended to cover one to four unit residential rental properties. HAMP Tier 2 went into effect June 1, 2012. The government realized that...
View ArticleStill No Justice for Mortgage Abuses
Still No Justice for Mortgage Abuses September 1, 2012 Thanks to New York Times It has been six months since the big banks settled with state and federal officials over evidence of widespread...
View ArticleStrategic Defaulters – To Jail With You
FHFA Looking to Jail Strategic Defaulters by my friend Martin Andelman The Federal Housing Finance Administration (“FHFA”), which is the agency created to oversee Fannie Mae and Freddie Mac… the one...
View ArticleWhat Caused the 2007 Crash
The Trillion Dollar Mistake That Triggered the Economic Meltdown Thanks to Martin Andelman It was summer, 2006, and Fed Chair Alan Greenspan had just raised interest rates for the 17th consecutive time...
View ArticleJumbo Modification
A residential property where the first loan was more than around $729,000 at the time of the default is not eligible for modification under the Making Home Affordable program. However, home owners with...
View ArticleStratigic Default
Giving Up and Getting Out Foreclosures are no longer a last resort, and a growing percentage of americans think it’s ok to strategically default LISA IANNUCCI Years ago, homeowners viewed foreclosure...
View ArticlePrincipal Reductions – Department of Justice Settlement
If you owe more on your first mortgage than your home is worth, and if your mortgage is with Bank of America, JP Morgan Chase, Wells Fargo, Citi, or Ally Financial, principal reductions are now...
View ArticleCalifornia Puts Attorneys Out of the Modification Practice
California State Bar RECENT Decision to Cause More Harm to Homeowners in Foreclosure Thanks to Martin Andelman It’s hard to imagine anything gone so totally wrong as the California State Bar’s...
View ArticleObama to Replace DeMarco – Stingy Leader of Fannie and Freddie
BYE-BYE DEMARCO! Obama to Replace Director of FHFA 3 You know, I was having kind of a crummy day… nothing serious, just dragging my feet a bit and grinding through some writing I’ve been working on for...
View Article