Paul Goodman of the N. Y. Times reports that the government says its mortgage modification program is working! Knock me over with a feather. Of course, the government mortgage modification plan, is where they pay the mortgage servicers to enter into ...
Category Archives: mortgage modification
Can I Get A Short Sale On My Home?
Not if George Soros has anything to say about it. The Mandelman Matters blog has a great post detailing with how our government, through the FDIC, helps the rich get richer and hurts homeowners who want to stay in their homes. How? We all see the FDIC taking over more and more ...
Download PDF Version Can Filing Bankruptcy Help Me Keep My House?
Of course it can! Chapter 13 bankruptcy allows you to lien strip, or avoid, a second mortgage lien. It also allows you up to five years to catch up with payments on a first mortgage. Do mortgage companies want ...
Download PDF Version Why Can’t I Get A Mortgage Modification?
Well, because the mortgage companies think they can make more money by foreclosing on you. Seems they are as good at calculating that as they were in deciding who would get mortgage money. The "secret" government formula does explain why it is impossible to predict who will get a modification and who will not, ...
Download PDF Version Suit Against Agencies That Rated Mortgage Backed Securities Survives
Joel Rosenblatt and David Glovin report for Bloomberg that a federal judge refuse to dismiss a lawsuit against Moodys and Standard & Poors. Good for him! The lawsuit alleges the ratings agencies hid the risks of securities backed by sub-prime mortgages, so called SIVs, for Special Investment Vehicle. Duh. They should have been called Special Rip-off Vehicle. The defense? Hey, ...
Download PDF Version Congressional Hearings On HAMP
I hate to bet on Congress getting anything right, but, if they do, these hearings will show the failure of the government mortgage modification programs. Congressional Hearings On HAMP
Download PDF Version BBC Story On Collapse Of Lehman Brothers
British TV has made a one hour docu-drama of the last weekend of Lehman Brothers, the Wall Street firm that collapsed near the beginning of our current continuing crisis. If you ask me, the government should have let them all collapse; they richly deserve it. There is a saying in the casino business: Never bet the house ...
Download PDF Version Judicial Mortgage Modification, Second Chance?
Relief through voluntary mortgage modification is largely an illusion, fostered by the mortgage industry to prevent real reform. Judicial mortgage modification refers to changing Chapter 13 law to allow a bankruptcy judge to re-write the first mortgage on ...
Download PDF Version How is HAMP Working?
Not. CNN reports mortgage servicers continue to give homeowners the run-around on the Home Affordable Modification Program. To beat the drum again, what is needed is judicial mortgage modification, it will not be done voluntarily. How is HAMP Working?
Download PDF Version Woman Evicted AFTER Mortgage Modification
Even getting a mortgage modification, and making the payments, does not insure that mortgage company will not try to take your house back. Ooops, WAMU sold a home by mistake, after accepting the first payment on the modification agreement. Woman Evicted ...
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