Underwater borrowers these days have many options… and bankruptcy does not have to be one of them. Often time, a borrower comes into my office, has stopped paying his or her mortgage, and has reached the conclusion, albeit the erroneous one, that filing for bankruptcy is the only way. Many have been provided wrong or […]
In an astounding decision today out of California, the 9th Circuit Court of Appeals ruled in favor of the Defendant/Borrowers and against Wells Fargo, finding and ruling that the homeowner who was approved for a trial period modification could sue the lender when a final modification was denied. For years now, borrowers, and the attorneys […]
Si Usted a tenida problemas de trabajo, de salud, de matrimonio o cualquier otra dificultad que ha hecho perjudicar los pagos hipotecarios, y esta buscando una manera para salir adelante, el short sale or programa de modificacion de Making HOme Affordable puede ser su mejor solucion. El programa de short sale de HAFA brinda grandes ventajas. […]
During the month of July, we have experienced a large increase in lender modifications and principal reductions in my firm. While certain loans and lenders will still refuse to make them, if they are Fannie Mae or Freddie Mac backed loans, the majority of the lenders are truly stepping up to the plate and granting loss […]
Many homeowners feel strapped due to a second mortgage on their property, which may cause a property to become “upside down”, owing more on mortgage balances than the property is worth. “Often in the loss mitigation and loan modification industry I encounter homeowners and property owners that think that they can not do anything to […]
MY FIRM HAS BEEN WORKING ON A LOAN MODIFICATION FOR A CLIENT FOR THREE MONTHS NOW. THE BORROWER WAS NOT YOUR TYPICAL BORROWER. HE HAD LARGER THAN TYPICAL EARNINGS BUT THE HOUSE WAS JUST WAY UPSIDE DOWN AND NEEDED SOME REPAIRS. THE MORTGAGE BALANCE WAS OVER $650,000.00. TODAY WE RECEIVED THE GREAT NEWS THAT OUR […]
My underwriter, Old Republic National Title Insurance, Inc, through Attorneys Title Fund, LLC recently notified its agents that they were seeing a large number of claims in Florida emerging from forged deeds on foreclosed or bank owned properties. The deeds were almost always into trust and the transaction that was insured in the one from […]
My firm was recently successful in getting a rather large, second mortgage on a property wiped out completely. No penalty. No amounts owed the lender. No deficiency. And the lender immediately sent over a Satisfaction of Mortgage to record. How did we do it? It was rather easy actually. We were able to negotiate with […]
The Miami Association of Realtors ranked Brazilians as the “top foreign consumer searching Miami properties in May 2013”. Source: Miami Association of Realtors, The Miami Herald Sunday, July 7, 2013. Next in line were Canada, Colombia and Venezuela. What this equates to is a large number of foreigners investing in Miami Real Estate and depleting […]
Shocking news hit the internet last week about Bank of America and its deliberate denial of Loan Modifications to hundreds of thousands of borrowers. In a pending class action suit, two whistleblower employees of Bank of America, Simone Gordon and William Wilson, both gave startling Affidavits stating that they were ordered by their superiors to […]