loan modification: This Guy Gets a $2 Loan Modification...or 1/2 off a Starbucks Coffee! :) - 03/23/11 08:17 AM

Insult or Injury? or Both?
Actually, this guy favored well as most homeowner walk away from a loan modification pay MORE!
Yes, our Short Sale clients biggest gripe is that the loan modification that was presented them by their bank was an actual monthly increase…yes, pay more!
Isn’t that why we’re in trouble in the first place?
Here’s a good story from the folks at The Truth About Mortgage.com
 
Here’s another PR nightmare…
Wells Fargo reportedly offered a struggling homeowner a loan modification that resulted in just $2 off his monthly mortgage payment, according to an ABC news affiliate.
The Independence, Ohio-based homeowner, … (2 comments)

loan modification: Short Sales According To Countrywide…Really? - 09/16/09 05:54 AM
Countrywide can  spell  “NIGHTMARE” for a listing agent working a Short Sale with them.  It’s also a lesson in Patents for the Seller of the property.
Yesterday while going through the dozen or so short sale files I have  with them one thing was consistent with every file.  A new negotiator was being assigned to these files almost daily….sometimes 3 in one day.  Can you say “Pass the Hot Potato” !
If your a seller and have a Short Sale in process with Countrywide/BofA this may help you on what to expect.  Also, your agent will be working with your … (0 comments)

loan modification: Short Sale or Foreclosure…..Risks To Consider - 07/02/09 06:47 AM
The housing market is crashing, many families have felt the strain of loosing one or both incomes.  We are working with a family right now that is loosing their home due to job loss for one and reduced hours for the other.  They could not afford to keep the home with their wages, even with a loan modification.
I want to share this families  experience with our readers.  We get so many questions relating to Jr. lien holders and recourse or non recourse loans.  We’ve talked to many reputable attorneys at length on the subject and have learned some very interesting … (0 comments)

loan modification: Stop Talking and DO SOMETHING!!! PRESIDENT OBAMA...ARE YOU LISTENING? - 06/30/09 09:16 AM
Enough already! I’m sick of the lip service….
Hope for Homeowners is an embarrassment to Mr. Obama.   If you live in California, you have realized that a loan modification is easier said than done….
Lenders have been instructed to help their borrowers find alternative to foreclosure and since the loan mods are out for most of us….the solution…Short Sale!  Along with that, President Obama rolled out a wish list of mandates to get these lenders on board to support these Short Sales.  Obama states that their needs to be a  Short Sale Process, and shorten the approval time…yada…yada…yada  this rolled … (0 comments)

loan modification: FHA States: “Hope for Homeowners” Helps…1 Borrower Since June 2008 - 03/25/09 10:37 AM
Well, I guess “No Hope for Homeowners” would be the appropriate response to the program developed by the Bush Administration to help Americans facing the loss of their homes from rising monthly payments and declining values.
In a report by CNN, Brian Sullivan FHA spokesman stated: “As it stands now, we’ve only gotten 752 applications and only one insured loan!”
To give perspective, congress set aside $300,000,000,000 (Billion) to cover up to 400,000 families for this failed program.
Where is this money going? Why not give a tax credit to the families it failed to help? Below is a link to … (2 comments)

loan modification: California Homes in foreclosure Overvalued by More than $200,000.00 - 03/18/09 02:55 AM
In a recent release by Foreclosure Radar, the average California home in the deafault process had a mortgage value exceeding $200,000 of Current Market Value (CMV) for the month of February 2009.  A 189% increase in negative equity year over year.
Also released in this same report, there were 17,131 foreclosures in February '09.  An 11.9% increase over the previous month.
For more Information contact:
Kris & Kim Darney Platinum Real Estate 714-615-7605 … (0 comments)

loan modification: Understand Mr. Obama's Making Homes Affordable - 03/04/09 12:21 PM
Mr. Obama has rolled out his new plan to help homeowners.
Check it out!
Direct Link to Mr. Obama’s Plan via The Department of The Treasury
Read the Q&A’s for a broad-stroke understanding.
More to come!
Kris 714-615-7605
… (0 comments)

loan modification: Must READ! Foreclosed Home Sold At Auction….$115,000 Less Than Offer Lender Rejected??? - 10/17/08 05:00 AM
If you follow our blogs, one of my recent posts ” In the business to foreclose…ask Ryan” told of a loan servicing company that declined to order a bpo on a property due to the fact they had done their own appraisal months prior to the offer we had provided them. Please, go back and read the communications between Ryan, employed at American Home Mortgage (servicing company for Option One Mortgage).
I’ve been talking to anyone that will listen about this, I’m just trying to understand how an investor would benefit from taking the home back? Well, needless to say, I’ve … (0 comments)

loan modification: Can I live in my home while I’m Short Selling it, even though I’m not making the payments? - 10/11/08 10:46 AM
by Kris & Kim on October 11, 2008
Today I was talking to a fellow that called me to find out about how a Short Sale works.  I realized after talking with him for nearly an hour that there are a lot of people (real estate agents) that give out conflicting and incorrect information.  I don’t believe that it’s intentional in any way, but scary for the person that needs to be informed correctly regarding this very important subject.
Some of the topics that were of interest and concern to him….
The loan modification he was offered was not going to … (0 comments)

loan modification: California Loan Holders may have some help coming from Countrywide Mortgage Pact - 10/08/08 02:14 AM
It appears that their is something coming to California Homeowners that have Counrywide loans. We will find out more today concerning the specifics. We will keep you posted.
Countrywide mortgage pact may be worth $3.5 billion to California loan holders Bank of America Corp. agrees to nation’s largest mortgage-workout program to settle charges of lending abuse. An estimated 125,000 Californians who are struggling with risky mortgages from Countrywide Financial Corp. may get their loans modified and payments reduced under a program to be announced today.
In a pact that could save mortgage holders billions of dollars, Countrywide owner Bank of America … (0 comments)