Filing for Bankruptcy Does Not Create Tax Consequences
Filing for Bankruptcy Does Not Create Tax Consequences Written by Craig D. Robins, Esq. Thanks to Long Island Bankruptcy Attorney I was prompted to write this article by the unusually large number of...
View ArticleDebt Forgiviness Will Be Imputed Income Unless Congress Acts
Beware of IRS Tax Whammy With Short Sales and Mortgage Modifications in 2013 Posted on Wednesday (December 26, 2012) at 6:00 pm to Mortgages & Sub-Prime Mortgage Meltdown Thanks to Long Island...
View ArticleVericrest
Click here to read more about Vericrest. I have only modified one Vericrest loan, and that one was non-owner occupied and way underwater and with a sky high minimum variable rate. And so Vericrest...
View ArticleAurora, Bank of America, Citibank, Chase, MetLife, PNC, Sovereign, SunTrust,...
Independent Foreclosure Review to Provide $3.3 Billion in Payments, $5.2 Billion in Mortgage Assistance WASHINGTON–Ten mortgage servicing companies subject to enforcement actions for deficient...
View ArticleConsumer Financial Protection Bureau Guidelines
U.S. Consumer Watchdog to Issue Mortgage Rules By EDWARD WYATT Thanks to New York Times Published: January 10, 2013 WASHINGTON — Banks and other lenders will be prohibited from making home loans that...
View ArticleZombie Titles
The latest foreclosure horror: the zombie title By Michelle Conlin Thanks to Reuters. COLUMBUS, Ohio | Thu Jan 10, 2013 1:58pm EST (Reuters) – Joseph Keller doesn’t expect he’ll live to see the end of...
View ArticleMore Foreclosures Coming
Where is the housing market going in 2013? Thanks to CBS News (MoneyWatch) The housing market in 2013 stands on a precipice. While there is hope that the slow, but real, housing recovery that took hold...
View ArticlePro Bono Environmental Work
JAMES ROBERT DEAL ATTORNEY PLLC PO Box 2276, Lynnwood, Washington 98036-2276 Telephone 425-771-1110, Fax 425-776-8081 James@JamesRobertDeal.com February 15, 2013 Seattle Times Letters to the Editor PO...
View ArticleBanks Forgive Mostly Worthless Seconds
The Second-Mortgage Shell Game By ELIZABETH M. LYNCH Thanks to the New York Times IN January, federal regulators announced an $8.5 billion agreement with 10 mortgage servicers to settle claims of...
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Fannie and Freddie – No Principal Reductions
The reason foreclosures will continue By Paul McMorrow Thanks to the Boston Globe February 19, 2013 A year ago, 49 states and the federal government brought five of the country’s biggest banks to...
View ArticleBillionaires Buy Up Short Sales, Raise Rents
Billionaire Speculators’ Greed Makes Life Hard For Renters and Would-Be Homebuyers Wealthy real estate speculators are snapping up homes with the same zeal that created the housing market bubble....
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When Banks Do Wrong, Prosecute the Officers, Directors, Board
Big Banks: Modern version of The Untouchables or victims of individuals Posted by Kerri Ann Panchuk on March 12, 2013 10:13 AM Thanks to HousingWire.com. You may be of the camp that big banks cannot...
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Successful PNC Modification
PG and HG, husband and wife, own a view house in a good neighborhood in Tacoma. They owed around $495,000 on a home worth maybe around $450,000. It had been worth $750,000 before the Great Recession,...
View ArticleChase Modification – Principal Reduction
It took us over a year, but we worked out this modification for one of our favorite clients. The borrowers got an interest rate reduction from 5.0% to 2.0%, topping out at 3.5% after seven years....
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Bank Sued For Letting Foreclosed Properties Rot
View PhotoReuters/Reuters – A statue is pictured in front of the former head quarters of Germany’s largest business bank, Deutsche Bank in Frankfurt, January 28, 2013. REUTERS/Kai Pfaffenbach Thanks...
View ArticleMortgage Modification is the Practice of Law
YOU GET WHAT YOU PAY FOR Virtually all of my modification clients tried it on their own and were turned down. Servicers will turn a borrower down and not tell them why. There are many tricks and...
View ArticleSocial Security Numbers
Just 5 Banks Prohibit Use of Social Security Numbers By ANN CARRNS Thanks to New York Times. Despite the risk of fraud associated with the theft of Social Security numbers, just five of the nation’s...
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Bank of America – Fannie Modification
HMH came to me following a financial hardship. He faced high payments on his Bank of America serviced loan, with a rate of 5.625. The investor is Fannie Mae. HMH is self-employed as a taxi driver. He...
View ArticleOne Third of HAMP Modifications Redefault
Three Years Later, One Third of HAMP Loan-Mods are Redefaulting Supposedly permanent loan modifications are defaulting at what the Special Inspector General for the Troubled Asset Relief Program...
View ArticleReapply for Second HAMP Modification
If you have obtained a HAMP modification and you have redefaulted, you may be eligible for a new modification under HAMP Tier 2. HAMP 2 allows a second HAMP modification if there is a new hardship. The...
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