Let's compare notes so our short sale Proposals are more compelling! How are you handling the deficiency arising from the short sale of over-mortgaged properties? Typically, mortgagees either forgive the debt, require a cash payment from the seller at closing, or arrange for a post sale repayment
...
05/09/2007
How could this happen?I am working with a young (just turned 21, single, about to be a Mom) homeowner facing foreclosure who has what I consider to be predatory, subprime loan(s). To finance the purchase of her first home (a $450,000 single family dwelling), she inquired about, was offered, and t
...
05/03/2007
Many predatory lending schemes target equity rich/cash poor senior citizens. Regardless of the target, the predators seek unjust enrichment by obscuring the facts. Predatory lending practices, as well as deed stealing and equity theft are usually carefully disguised, slickly presented, but al
...
04/23/2007
This is my wife's column. Ken Lay is alive and well and living in South America. At least that's what some people say. And that's what some people think. I guess it's because his demise was the most timely death in the history of corporate-fraud-greedily-scamming-investors-and-American-citizen
...
04/22/2007
In my 25+ years in the business, I have rarely encountered a prepayment penalty imposed on mortgage loans in New Jersey. Once, a couple of years ago, I was stunned after a Client showed me her HUD1, who then said she had to pay a PPP when she refinanced her mortgage loan. The original loan was
...
04/19/2007
The question posed isn't meant to be an invitation to engage in a political debate comparing the differences between so-called liberals and those who embrace what used to be considered conservatism. These days our airwaves are muddled with silly noise about Anna Nicole, Britney, and the big hai
...
04/12/2007
What a week. Sixty calls or emails from folks who are having problems with their mortgage payment. On top of the sixty or so I took in the week before that, and the week before that, etc. Each call I take can take an average of 15 minutes to glean essential information, ask a few questions, list
...
04/07/2007
Apples, Oranges, and sometimes Lemons: Subprime vs. PredatoryI was at a party last nite when I handed a promotional plastic credit card to a friend. Having all the physical characteristics of a real credit card, it read Maxed-Out! The regular readers of my Blog may recall Maxed Out! is a just re
...
03/31/2007
Back in the day when I was working in a national mortgage loan servicer's prototypical loss mit department, I flew to the corporate offices to meet with the newly appointed Sr. VP of asset management. Not promoted from within, but 'a hired gun' we were told by the sheepish, VP of asset management
...
03/30/2007
Has anyone read Dr. Christopher Cagan's 3/19/07 research paper, "Mortgage Payment Reset: Issues and Impact? He is the director of research and analytics for First American CoreLogic, and crunched a lot of numbers to provide an insight into what his crunched numbers suggest will happen to adjust
...
03/22/2007
