The nightmare of foreclosures and all their bad consequences continues to inflict our state of Michigan, from St. Clair Shores to Troy to Redford to Grand Have to the U. P. Its been awhile between posts here, sorry, holidays, and working on a bunch of Chapter 11 cases. Nothing good to report! (image credit luigi…
Read the full article »
Tags: bank of america home loans, banking, continues, countrywide, countrywide before bank, economic history of the united states, economics, foreclosure, foreclosure laws, foreclosures, michigan, michigan foreclosure, michigan foreclosures, million, mortgage, mortgage companies, nails, nightmare, occ, personal finance, real estate, real property law, subprime mortgage crisis
RESPA stands for Real Estate Settlement and Procedures Act. Some provisions relate to how mortgage companies must handle escrow accounts, and various notices they must provide, and the timing for same. My favorite part requires mortgage accounting, if you send a QWR (lawmakers love acronyms) qualified written request. Now, why would you need an accounting…
Read the full article »
Tags: accounting, consumer fraud, escrow payment, everyone, federal law, finance, force mortgage, foreclosure, human interest, know about, lawyers, mortgage, mortgage payment, mortgage servicing rights, pay, pay taxes, personal finance, play games, real estate, real property law, respa, sue
The sellout continues, as the state and federal governments appear ready to let the Big Banks off the hook for the foreclosure crisis they caused, which ruined home values in St. Clair Shores and the rest of Michigan. No one has covered the foreclosure crisis like Gretchen Morgenson of the New York Times, whose…
Read the full article »
(I just love these guys!) Adolf Ratler and Benito Mouselini, pictured above, are well known robo-signers and purveyors of fraudulent mortgage documents. Fake notarizations, people signing other people’s names, attesting to facts about which they had no knowledge. Mortgage companies have done this all across the country, including our fair state of Michigan. “– In…
Read the full article »
Tags: economy of the united states, finance, flood, foreclosure, fraudulent, michigan, mortgage, mortgage companies, mortgage document, mortgage documents, mortgages, pittsburgh tribune review, process mortgage, real estate, real property law, robo, threes company, troubled asset relief program
Short sale = sale of your home for less than what you owe on it, so, short of the amount necessary to pay the mortgage or mortgages and any other liens, like property taxes. Over half the homes with mortgages are worth less than what is owed. I am sure that more that is worse…
Read the full article »
Tags: balance, banking, finance, foreclosure, law, lien, mortgage, mortgage balance, mortgage companies, mortgage loan, mortgages, owe, property, property taxes, real estate, real property law, sale, sale prices, short sale, shorts, what is
First Michigan law firm implicated in fraudulent foreclosure affidavits. Michigan attorney general involved in chasing mortgage servicers for robo-signing. I have written about robo-signing before; I can’t tell you how great it is to see a politician do something about it. We all know the drill: massive over-lending, subsidized by the government, predatory mortgages,…
Read the full article »
Tags: banking, breaks, chase mortgage, firm, foreclosure, foreclosure news, foreclosures, fraud, judicial foreclosure, loss mitigation, michigan, michigan attorney general, michigan law firm, mortgage, news in, personal finance, property, real estate, real property law, subprime mortgage crisis
For this holiday weekend, just linking to a post I did on another site on the above topic. Click here. Happy holiday to all. addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Ftornados-charity%2F’; addthis_title = ‘Tornados+And+Charity’; addthis_pub = ”;
Read the full article »
Cold, and getting colder. Over 10% of U. S. homes are now empty. More trouble for MERS, as Freddie Mac joins Fannie Mae in prohibiting foreclosures in its name. There is a multi-year supply of “shadow inventory,” homes through the foreclosure process that the banks have not even offered for re-sale yet. Our government, which…
Read the full article »
Tags: economics, fannie mae, finance, foreclosure, foreclosure process, foreclosures, government program, housing market, marketing, mers, mortgage, mortgage loan, personal finance, real estate, real estate market, real estate marketing, real property law, real truth, residential real estate market, subprime crisis background information, subprime crisis impact timeline, subprime mortgage crisis, the real, truth about
Foreclosure fraud had to be perpetrated by someone, and, at least in states that require judicial foreclosure, lawyers had to help. Readers know I have been harping on this, for, well, years. The evidence mounts. I still think underneath this we will find multiple first mortgages on the same house, and mortgages on houses which…
Read the full article »
Foreclosure is difficult to fight in states, like Michigan, that allow non-judicial foreclosure. In court, whoever is suing, the plaintiff, as we call it, has to prove its case. So, if the mortgage company forecloses in court, they have to prove they own the mortgage. The top court of Massachusetts held this past week that…
Read the full article »