Real estate blog entries tagged with mortgage mess by Aaron Gordon, Home Loan Consultant, Las Vegas, NV (Home Loan Consultant)

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mortgage mess: The Scapegoat of The Mortgage Crisis : The Dastardly Stated Income Loan - 05/02/08 01:15 PM

There have been many scapegoats in history.
Steve Bartman, the Chicago Cub fan who many believe cost the Cubs a trip to the World Series for the first time in nearly 60 years.
Bill Buckner, who made an error at first base that Red Sox fans believe cost them the 1986 World … (24 comments)

mortgage mess: Note Modification is a Compromise - It's Not For Everyone and Won't Save Every Home - 09/26/07 10:23 PM

I have been blogging on note modification a lot lately. As a result I have gotten a lot of calls from distressed borrowers looking for some free advice, which I am happy to provide.
This morning I got a call from a woman named Alice in Florida. She wanted me to help … (12 comments)

mortgage mess: A Comment from Diana: A Real Life Story of Today's Mortgage Mess and Why All Lenders Need To Get Involved - 09/26/07 10:10 AM

Last week, I wrote Calling on All Mortgage Lenders on Active Rain! Be a Hero - Give FREE Time To A Distressed Borrower and Help Them Save Their Home thru Note Modification.
I told about how I have been helping families get their mortgages notes re-done by simply spending time with them and … (2 comments)

mortgage mess: Calling on All Mortgage Lenders on Active Rain! Be a Hero - Give FREE Time To A Distressed Borrower and Help Them Save Their Home thru Note Modification - 09/20/07 01:41 AM

In the past two weeks, I have had no less than five desperate homeowners, with negative equity, mortgage lates, and resetting ARMs call me to help them refinance their mortgage to save them from foreclosure.
In all five cases, a refinance was not possible. I still made appointments for each of the borrowers to come to my office and bring their … (41 comments)

mortgage mess: The Lessons of 2007: At What Point Would You Decline A Loan For Someone Headed For A Train Wreck?? - 09/15/07 01:23 AM

I recently had a featured blog called, Be Truthful With Your Lender from Day One - Desperate Acts and Lies Can Kill Deals. In the post I wrote about some very dishonest borrowers I had recently dealt with.
Konnie McKee, an agent from Prince William County, Virginia made this comment:
"I had a … (5 comments)

mortgage mess: George W Comes to the Aid of The Mortgage Mess - Are The Tides Finally Turning?? - 08/31/07 02:29 PM

A few days ago I blogged about the Fed Chief's ideas to help out the mortgage mess. The Fed Chief Chimes in On A Cure For the Mortgage Mess - Higher FHA Loan Limits is a Great Place to Start
Today, the Commander in Chief has chimed in. George W came out … (9 comments)

mortgage mess: The Fed Chief Chimes in On A Cure For the Mortgage Mess - Higher FHA Loan Limits is a Great Place to Start - 08/30/07 12:58 PM

The Federal Reserve chairman, Ben Bernanke, came out today and offered his opinion on the cure for the mortgage mess. If the powers that be listen, I believe its the first step on the lengthy road to recovery.
Bernanke suggested a wider range of mortgage products for low income and other borrowers who have … (31 comments)

mortgage mess: The Countrywide Mortgage Credit Crunch and What It Really Means To You - 08/16/07 11:00 AM

Countrywide announced today that they had to borrow $11.5 billion from a group of 40 banks to fund loans.
This clearly shows us just how deep the lending crisis has become and shows you clearly why the smaller companies are closing. They don't have access to this kind of capital.
But what does this … (20 comments)

mortgage mess: Countrywide Changes Guidelines for Phoenix, Miami, and Las Vegas. - 08/13/07 05:56 PM

From an email I got from Countrywide 30 minutes ago. More great news in our market and in Phoenix and Miami.
For agents in PHX, MIA and Vegas you may wan to make sure Countrywide is not your only referral option. Your clients have to pay 5% more than any other … (6 comments)

mortgage mess: This Will Help You Understand What Your Lender is REALLY Dealing With - 08/10/07 04:42 PM

There is a tremendous amount of frustration between agents, clients and the lenders today as the mortgage mess gets worse and worse. This will give you some insight to what your lender is dealing with today.
When you log-on to the Countrywide website today, August 10, 2007, to check on a loan guideline or to … (9 comments)

mortgage mess: “What in the Heck is Going on With Lending and How Do We Adjust Our Business?” - 08/06/07 11:31 AM

Last week, a real estate broker I have tremendous respect for, sent me an email that said, "What in the heck is going on with the lending business and how do we adjust our business?" He asked me to come speak with the agents in his office about it tomorrow. Here … (12 comments)

mortgage mess: My Solution to the Lending Mess---An Open Letter to The Nation's Top Banks - 08/02/07 01:56 AM

Dear Top 25 Residential Lending Banks---
As you know, we are in a mess. A downright mess.
Foreclosures are at an all-time high in many areas. Most housing markets are depreciating. Millions of homeowners are facing the recast of their adjustable rate mortgages. They cannot refinance out of them so they will watch their payment skyrocket … (15 comments)

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