loan modifications: Negative Equity Report: Good News or Bad News?
- 09/08/13 11:40 AM
Negativity equity is an issue that can be an indication of many aspects of a real estate market. Zillow keeps track of such things and while many question the accuracy of some of Zillow’s reports (such as their Zestimates), the Negative Equity report seems accurate. According to the most recent Zillow “Negative Equity Report” , there are 12.2 million homeowners who are still underwater on their properties. This equates to nearly a quarter (23.8 percent) of all homeowners with a mortgage and 16.7 percent of all homeowners with and without a mortgage. Zillow predicts that by the end of the … (1 comments)
loan modifications: Happy New Year!! Some New Years Perspective on Housing and Lending!!
- 12/31/12 01:13 PM
Real estate is at its most affordable rate in recent history. In my opinion, the real estate market cannot claim to be fully in “recovery” until lending loosens up. Sadly, most homeowners will not be able to take advantage of the great deals out there using conventional financing. According to the Wall Street Journal, lenders are unlikely to ease up on their credit and lending standards in 2013, and “buyers shouldn’t expect that getting a loan will get easier anytime soon.” According to Realtor Magazine a recent spate of refinancing activity has actually contributed to this trend, the report adds, because … (1 comments)
loan modifications: Loan Modifications are in the RISE!!!
- 12/28/12 01:56 PM
Many people evaluate the housing market by foreclosure statistics. I have previously blogged that this methodology is fraught with inconsistent variables that alter the findings (such as lenders purposely holding back foreclosure filings). Foreclosure activity remained elevated in the third quarter of 2012, but homeowners are fighting to stay in their homes. According to a report by the Office of the Comptroller of the Currency (OCC), servicers initiated 252,604 new foreclosure actions during the third quarter of 2012. Office of the Comptroller of the Currency Report Homeowners responded with 382,899 home retention attempts. Home retention actions include modifications and shorter-term payment plans. Of … (3 comments)
loan modifications: More on the Astonishing Bankruptcy Court "Game Changer"
- 06/30/11 11:06 AM
Many have made comments to my blog or emailed me separately in regard to my blog about a recent bankruptcy appellate case that could potentially revolutionize loan modifications, forensic audits, short sales, deficiency judgments etc. I wanted to review the case with colleagues prior to discussing it further. Last evening, I met with prominent tax and bankruptcy attorneys. I traveled from the Giant Litter box (Las Vegas) to Palm Desert, California and another traveled from Phoenix to Palm Desert to discuss this case – it is that significant. The case is In re Veal and it involved AHMSI and Wells Fargo. … (29 comments)
loan modifications: Relief for Home Owners Seeking Loan Modification of Foreclosure Relief is Delayed...
- 06/18/11 09:47 PM
There was a settlement in various matters between the real estate industry lenders and the federal government. The lenders were to provide an action plan for handling loan modifications and foreclosures. The plan was due this week, However, the lenders received a 30-day extension for submitting their plans. The extension was the result of a decision made by the federal justice department. Mortgage servicers were supposed to submit their plans for dealing with contacting struggling home owners, handling loan modifications in good faith and adjusting other problematic aspects of the foreclosure process. However, the Office of the Comptroller of Currency (OCC) … (3 comments)
loan modifications: Loan Modifications and More lender B.S.
- 01/15/11 04:42 PM
There is a disturbing trend in (lack of) loan modifications. Lenders are now maintaining that they cannot modify because the "Investor" does not participate in HAMP, etc. REALLY...the lender received TARP funds and a requirement was that THEY help distressed home owners in exchange. So now they are claiming that they do not own the Note. REALLY again, THEY are the ones foreclosing and not the "investor". BTW, the "investor" is frequently Fannie Mae. So we have a situation in which lenders received TARP money; promised to help deserving homeowners and are now saying that they cannot participate in a federal modification program because an investor owns the Note … (3 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
Negativity equity is an issue that can be an indication of many aspects of a real estate market. Zillow keeps track of such things and while many question the accuracy of some of Zillow’s reports (such as their Zestimates), the Negative Equity report seems accurate. 
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