foreclosure: Is it Time to Spank Your Bank? - 10/11/09 08:26 PM
Banks bailed out of bankruptcy by the federal government, refuse to help out homeowners - so why do homeowners keep their accounts at these same banks?
EXPERT, BIRMINGHAM, BLOOMFIELD, DETROIT, ROCHESTER, ROYAL OAK, TROY, MICHIGAN
A recent federal report card through September on the results of the Making Home Affordable … (2 comments)
foreclosure: Reality NOT on TV – Banks Make Money on Foreclosures - 09/14/09 09:32 PM
Your odds are better at winning in Las Vegas than against the banking industry and the administration they control.
DETROIT, MI - Wouldn't it be fun to kidnap the CEO's of Chase, Bank of America, Citibank and Wells Fargo, hold them somewhere with just the bare living essentials and force … (1 comments)
foreclosure: Foreclosure & Bankruptcy: a new Beginning, not the End - 08/24/09 06:20 AM
It's not how many times you get knocked down, it's how many times you get back up. Along the way don't forget what's really important - Family, Friends & Life.
TROY, MI - With pretty much everything I do revolving around real estate & lending, I get exposed to a … (3 comments)
foreclosure: GNMA President to Step Down - A Sign of coming Trouble? - 08/17/09 09:24 AM
Troy, MI - Bloomberg reported late last week that Joseph Murin was stepping down after only 13 months on the job. GNMA (Government National Mortgage Association) mainly securitizes FHA and VA mortgages and has seen its business almost double in the last 2 years.Why would an executive walk away from a … (0 comments)
TROY, MI - On July 30, HUD published Mortgagee Letter 2009-23, that detailed their long awaited loan modification program for homeowners with FHA mortgages.
What took so long? President Obama announced the … (0 comments)
foreclosure: The Misconduct of the Home Valuation Code of Conduct (HVCC) - Detroit - 07/26/09 12:29 PM
HVCC, as currently written, will be kicking a housing market that's already on its knees.DETROIT, MI - Despite the efforts of the real estate and lending industries, the Home Valuation Code of Conduct went into effect May 1, 2009, bringing a dramatic change to the home financing process.HVCC is the … (2 comments)
Detroit - Over the last several weeks I've noticed a substantial increase in the number of loan modification companies being investigated by various government agencies.
All I can say is that it's … (0 comments)
foreclosure: Are Loan Modification Programs Working? - 07/13/09 10:13 PM
Many financial experts say they aren't, quoting old data to support their statements. The latest data may force them to change their tune though.
July 13, 2009 -- DETROIT, MI - The Obama administration continues to push loan modifications as the best way to address the nation's growing housing crisis. Many … (0 comments)
foreclosure: 125% Refi's Announced! The Government Finally Gets it? - 07/01/09 08:49 PM
The government appears to be finally understanding how many Americans are upside down in their homes.As I've been predicting for months, the FHFA just announced today that they will be allowing FNMA & FHLMC to refi underwater homeowners up to 125% of their property's value.
Previously the cap was at … (0 comments)
foreclosure: Talking About a Housing Revolution - Predictions on Housing - 06/28/09 03:41 PM
The Beatles song comes to mind when I consider what the bottom of the housing market and recovery will look like.
June 28, 2009 -- DETROIT, MI - Recent housing reports brought apparently good news on housing as it was reported that Housing Starts in May jumped 17.2% and Building Permits … (0 comments)
foreclosure: Michigan tries to Slow Foreclosures with New Laws - 06/18/09 10:34 PM
Three new laws make foreclosures tougher on lenders to force them to do more loan modifications.
June 18, 2009 -- DETROIT, MI - On May 20th, Governor Granholm signed new laws into effect that will put more pressure on lenders to work out loan modifications as opposed to just foreclosing.
The … (2 comments)
The bills were signed by the Governor on May 20, 2009 and will become effective 45 days after signature. The legislation will be repealed two years after its effective date.
The bills amend the chapter of the … (0 comments)
foreclosure: Fed Losing Battle to keep Mortgage Rates Low? - 06/07/09 03:43 PM
Mortgage rates spike almost 1% in just over two weeks, what's going on?
June 6, 2009 -- DETROIT, MI - One of the government's stated goals this year is to stabilize the housing market. The thinking is that a long as home values continue to fall, homeowners will lack confidence … (0 comments)
May 29, 2009 -- DETROIT, MI - Oops! Someone has some explaining to do to their boss at HUD. In case you missed all the hoopla, on May 11th HUD issued Mortgagee Letter … (0 comments)
May 27, 2009 -- DETROIT, MI - It's an unsettling feeling watching a market in free-fall. You watch it drop, drop and drop some more, wondering and hoping that it'll level off. When it doesn't, panic and paranoia … (0 comments)
foreclosure: The Misconduct of the Home Valuation Code of Conduct (HVCC) - Detroit - 05/17/09 11:23 AM
HVCC, as currently written, will be kicking a housing market that's already on its knees. DETROIT, MI - Despite the efforts of the real estate and lending industries, the Home Valuation Code of Conduct went into effect May 1, 2009, bringing a dramatic change to the home financing process. HVCC is … (2 comments)
foreclosure: Drew’s News - Housing & Mortgage Thoughts and what I’ve been up to - 05/09/09 06:00 PM
DETROIT, MI - Spring's in full bloom and summer's around the corner. Now if only the economy would heat up again.
Nice weather does seem to be having a positive affect on all of us.
The economy appears to have slowed its pace of contraction and I'm observing a lot of … (0 comments)
DETROIT, MI - Homeowners everywhere are struggling to save their piece of the American Dream, their castle, their home.
Every week of news seems to promise a ray of hope, that's quickly followed by more … (0 comments)
foreclosure: Reality of Realty – Detroit Metro Sales are Up, but. . . - 04/26/09 04:53 PM
A look at the 3rd quarter numbers reveal some interesting statistics that show the housing crisis is not over.
DETROIT, MI - According to a recent National Association of Realtors (NAR) report, national homes sales were up in February, but down slightly in March when compared to last year.
In the … (2 comments)
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Banks bailed out of bankruptcy by the federal government, refuse to help out homeowners - so why do homeowners keep their accounts at these same banks?
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