Fake Appraisers Cruising Distressed Homes - 01/22/10 01:56 AM
Local impostors are claiming to be appraisers to gain entry to distressed homes.We have heard from distressed homeowners who, after having the Notice of Default letters taped to their door, (pre-foreclosure) had unannounced individuals arriving at their door with cameras saying they are the appraiser sent by 'their bank'.These people are impostors. They are getting names off the county bulletin boards of homes in arrears pending foreclosure proceedings. It is apparent some foreclosure buyers use this tactic of false pretense to gain entry and review properties prior to auction. One homeowner just called to say a person arrived with a camera, without a business card, asking for information (she … (11 comments)

HAMPer full of Hope? - 01/20/10 01:36 AM
Fact: Less than 7% of the homeowners who entered Trial Modification Periods for the Housing Affordable Modification Program (HAMP) in some form have succeeded to date: http://abcnews.go.com/Business/wireStory?id=9572114
This news has spurred updates on the government site: www.makinghomeaffordable.gov
Enter the new 'Conversion Campaign'
According to MHA: "The Home Affordable Modification Program requires borrowers to enter into a Trial Period Plan before receiving a permanent Home Affordable Modification." Which suggests that you 'may' be converted to a permanent program after your required trial. Or does it? Exactly who decides who gets to move ahead into modification bliss and who gets denied? That part is quite a mystery. The link on ABC News above has … (0 comments)

EDUCATE Thyself! - 01/03/10 03:29 PM
We talk a lot about educating our clients about their options and best choices in making real estate decisions. But who among us knows it all? More to the point, who among us is adequately keeping up with all the changes in our industry these last three years?
Evolve or die! The basic Darwinian premise applies to every business and especially to those of us who count ourselves among the entrepreneurial class. The question is how do we best evolve?I am talking about becoming a proactive resource for our clients of WHAT MATTERS. What they NEED to know about their real … (0 comments)

Do You know WHO Owns Your Mortgage? - 01/01/10 04:26 PM
More importantly, how do you find out? If you need to contact your lender about potential loan modification based on genuine hardship or disaster relief grounds, you have several starting points. You may be surprised to learn that find out exactly who owns your mortgage is not something your lender (servicing bank) may know or be willing to share!
One couple took on Goldman Sachs and won: Read this riveting story about Tony and Celia Becker, a couple who took on Goldman Sachs, the owner of their Subprime Mortgage and won court assistance and a modified mortgage which took them several years: http://www.mcclatchydc.com/100/story/77841.html
Why would your lender hide from … (2 comments)