Eddie Rushton's (erushton) Blog

A news broadcast in southwestern Ohio reported recently about a man who bulldozed his home rather than allow the bank to take his home after the bank failed to accept a Short Sale offer of $170,000 for the $350,000 home.   The homeowner, Terry Hoskins, hoped that his actions would help make banks...

Moody's Economy.com predicts that the number of deed-in-lieu of foreclosures plus short sales this calendar year will increase by more than 50% to almost 500,000.  This is still only a fraction of what is needed to save more than 1.9 million homes from foreclosure.   Moody’s sites the decisions b...

This blog is going to be about just what it sounds like, "RANDOM". It has absolutely nothing to do with anything. But, just like everyone else on this planet, I have random thoughts, flashbacks if you will, about situations I have encountered and have no explanations for. If I did, I would probab...

Have you ever seen the movie, "The Legend Of Bagger Vance"? If you haven't, it is a movie about golf and much much more! The story pits two of the greatest golfers of the era, Bobby Jones and Walter Hagan against a relatively unknown golfer from the South named Judah. Only Judah hadn't played gol...

Nineteen months ago, the recession took Bob Walker's job. Then, creditors lined up to take the three-bedroom hilltop home that the computer consultant shared with his wife, Stephanie, a playwright still looking for her first break. Avoiding the stigma and financial fallout of foreclosure became a...

The government never ceases to amaze me. I guess I shouldn't be so surprised. Just when you think their rules and regulations couldn't get any crazier, BAM!, they get more CRAZY. Have you heard the lastest, brilliant (I'm being facetious) idea that HUD is considering? Whether you agree or disagre...

Homeowners are clearly worried about the possibility of higher interest rates later this year and are asking for refinancing at increasing rates.  The Mortgage Banker's Association reported a jump the last week in January to a 6 week high for new and refinanced loan requests.  The MBA mortgage in...

After you watch the video on this blog you'll realize why loan modifications have been such a miserable failure for the people that need them the most. The government program, "Home Affordable Mortgage Program" (HAMP) was set up to help homeowners that are struggling with their mortgage payments....

Whenever I've talked with homeowners that are facing foreclosure, the first question I ask them, "have you spoken with your lender about your situation"? A large percentage say yes. Being  a short sale buyer and trying to help people avoid foreclosure, I have talked with alot of folks lately. Inv...