The Foreclosure Crisis continues, even though mortgage companies are waiting longer than ever to foreclose, even in Michigan, nationally, a now homeowner is now a record 599 days late, on average, before being foreclosed. Readers of my blogs may be tired of my beating on the mortgage companies, chiefly Countrywide, and their executives (two of…
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MERS In My Michigan Mortgage
I can’t help it! I like blogging about MERS in trouble, no longer able to foreclose in Michigan. The more MERS (or, the rats) mortgage troubles there are, the better I feel. Almost as good as Verlander starting or Cabrera batting with the bases loaded and no one out. Massachusetts is the latest state to…
More Michigan MERS Misfortunes
I already wrote about the Michigan Court of Appeals decision in the Saurman case, holding that MERS does not qualify under Michigan foreclosure statutes to foreclose by publication. Last week, another Michigan Court of Appeals panel held that the Saurman ruling is fully retroactive, so it applies to any pending action, as well as any…
MERS On Way Out
No mas! MERS is folding up its tent as far as foreclosing in its own name, or filing pleadings in bankruptcy court in its own name, as it told is clients they have to get an assignment from MERS, and then file stuff in their own name. Our Michigan court of appeals probably influenced…
Short Sale, What Is It?
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…
Can You Re-Finance Your Mortgage Without An Attorney?
Instead of “Guest Host”, we have a Guest Post. Those of my generation will remember Jay Leno got his Tonite Show start as a guest host for Johnny Carson. Today, I welcome Paris Mitchell as guest poster. Let me know what you think? If you are frantically looking for a way to trim down your…
Breaking Foreclosure News In Michigan
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,…
Foreclosure Crisis In Michigan – Update
Greed, one of those seven deadly sins, and the driving force behind our economic collapse, manifested in a desire of the big mortgage companies to avoid paying recording fees and other local government charges. Oakland County Michigan is striking back. Fannie Mae and Freddie Mac, bad guys whose misdeeds are admirably chronicled in “Reckless…
Reckles$ Endangerment
Read this Book! In 1965, home ownership in the US stood at 63%. Over the next 15 years, that moved slightly upward to 65.5%, then down to 64% in 1995. Goosed by government policies, that rate peaked at 69.1% in 2004. Currently, the rate is down to 66.4%. In 2004, the unemployment rate was…
More On HAMP Mortgage Modification Failure
Hard to believe a government mortgage program failing, but, even the Treasury Department finally noticed the HAMP program is failing. And, of all things, the government found that the mortgage companies were overstating the income of the homeowners trying to save their houses. Their excuse? Well, at first, HAMP did not require that applicants document…
