RESPA is a law enacted in the 70s to protect homeowners when buying a home. The anti-kickback provisions have not been enforced as I would have liked, but, it is still my favorite law. It is a fee shifting statute, so, if you win, the bad guy pays your attorney fees. Here is a link…
Category Archives: Uncategorized
Foreclosure Rates, Going Up^
Foreclosure rates continue to escalate, my prediction? We are not even close to the bottom. All four new folks I talked to Monday were unable to pay their mortgages, but not being foreclosed on yet. addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fforeclosure-rates-going-up%2F’; addthis_title = ‘Foreclosure+Rates%2C+Going+Up%5E’; addthis_pub = ”; Copyright secured by Digiprove © 2011 Kurt O'Keefe
Mortgage Fraud, Michigan 5th in 2008
According to the official FBI report on Mortgage Fraud for 2008, Michigan had the 5th highest number of cases. My prediction: sure to grow in 2009, although the horses are out of the barn. (Click here if you want to order a FREE copy of my book, The Consumer’s Guide to Defending Foreclosure.) addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fmortgage-fraud-michigan-th%2F’; addthis_title…
What About Those Ads From Companies That Say They Can Help Me Save My Home?
Like “the secret the credit card companies don’t want you to know!”, they are almost all scams. Hustlers know what to say to make you feel good about you giving them their money. The National Consumer Law Center has a new report here: mortgage scams (Click here if you want to order a FREE copy of my…
What Is A Mortgage Servicer?
Well, a company that services your mortgage, but, not for you, for the mortgage company. Everything is outsourced these days. Mortgage companies provide the money, but frequently hire another company to keep track of that money. To recalculate monthly payments in Adjustable Rate Mortgages, keep track of taxes and insurance, and allocate the payments between…
Home Affordable Modification Program
This is the site for information for mortgage servicers for the Home Affordable Relief Program. Click here if you want to order a FREE copy of my book, The Consumer’s Guide to Defending Foreclosure. addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fhome-affordable-modification-program%2F’; addthis_title = ‘Home+Affordable+Modification+Program’; addthis_pub = ”;
What Is A Mortgage Broker?
As a comment to this blog post defining mortgage broker says, “no more than glorified loan processors.” A mortgage broker finds a mortgage, like a real estate broker finds you a house. The use of mortgage brokers exploded as the housing bubble built, and mortgage companies basically outsourced loan processing. They relied on the mortgage…
Are Foreclosures Declining?
Uhh, no. Foreclosures are getting worse for all types of mortgages, now that the banks have taken their foot of the brake, as commented on in the Calculated RISK blog.. They were holding up, self imposed moratoria, while the heat was no and Congress was considering judicial mortgage modification. Now that they won that fight…
Countrywide Liable For Racketeering?
Countrywide wrote the most sub-prime mortgages, so is the number one contributor to the foreclosure crisis we are in. As I have seen for years in my practice, they hired mortgage brokers to bring them borrowers, with no concern about whether those people could actually afford to pay the mortgage. …
Foreclosures Soar
Why do we need judicial mortgage modification? Because foreclosures are rising again, and will get worse. addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fforeclosures-soar%2F’; addthis_title = ‘Foreclosures+Soar’; addthis_pub = ”;
