Foreclosure Nation

We've been saying since day one that government needs to be saving for a rainy day. Yes giving folks cash to buy new cars may help make consumer spending stats look better. But keeping our banking system afloat is certainly more important. The FDIC has only about 10 billion left of the $50 bill...

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If the USA is joined in the foreclosure action, the lien can be extinguished. However, the IRS has a 120 day right of redemption. You can contact the US Atty in the controlling district and request a release or waiver of the right. They usually require payment in exchange for the release. If the p...

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hate to say I told you so (no, I don't really hate it that much) but I did. Sure we've got 1.5 million foreclosures pending now. But low and behold we now have an acknowledged additional 3.5 to 4 million deliquent (translates to soon to be in foreclosure). And - told you so again - the default ...

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The latest stats acorss all fronts are no surprise. We're nearing a bottom across the board. The variation by location, property type and price is becomeing more obvious. As is the fact that this is not going to be a simple or quick recovery. Jobless claims last week appeared to decrease by 10...

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A new "guideline" for lenders reporting modifications to credit bureaus is slated to come on line in September. Unde the new criterai, lenders may classify a modification as a "partial payment" of the mortgage which in turn could add a ding to a borrower's credit reports. As with any other incid...

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Here are the reasons cited on CNN Money that the plans is not working: Fax machines. Most loan servicers require that applications be faxed. "It's archaic. Given all the problems we've had with lost faxes, it seems unreasonable to use a fax system,” says Michael van Zalingen, director of homeown...

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For any home owner with a loan-to-value ratio greater than 120 percent, Martin Harvard Prof Feldstein would offer a reduction in principal, the cost of which would be shared between the government and the lender down to the 120 percent level. In exchange, the borrower would accept a recourse loan th...

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Call 800 569 4287 or 877 483 1515 or follow the link on this website to HUD. ...

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As recently reported by the National Association of Realtors, a new report by Deutsche Bank estimates that by 2011 nearly 50 percent of U.S. home owners with mortgages will owe more than their homes are worth. This estimate of 25 million borrowers is significantly higher than similar calculation...

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FNMA and Freddie learned from their mistakes. The mammoth GSEs cut back suicidal no doc loans and similar train wreck products. But incredibly FHA continues practices that led so many to crash and burn. The only thing standing between naïve first time homebuyers, and pre-ordained foreclosur...

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The current guidelines from Fannie Mae & Freddie Mac state that the waiting period for a Deed in Lieu of Foreclosure is 4 years from the date the proceeding is completed. If there are extenuating circumstances that caused the borrower to have to enter into a Deed In Lieu of Foreclosure proceeding,...

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1. Olympic Village, Calif., 96146 2. Tahoe City, Calif., 96145 3. Terra Linda, Calif., 94903 4. Fisher Island, Fla., 33109 5. Dallas, 75205 6. Malibu, Calif., 90265 7. Bal Harbour Fla., 33154 8. Key Biscayne, Fla., 33149 9. Lake Forest, Ill., 60045 10. New York (Upper West Side), 10069 a...

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Once again our nation’s title insurance industry is coming under the regulatory microscope. And again all eyes are myopically focused on price. Continual re-scrutiny of title insurance in this same tired vacuum, and evaluation by politicos with little knowledge of the product and service, will no...

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1. Prepare Transaction Memorandum detailing credit history and structure. 2. Prepare Loan Document Binder and Index 3. Provide detailed break down of all sums due, any funds in escrow, and description of default(s) 4. Provide Index of all other property related information in pos...

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In the world of commercial real estate, it’s starting to rain cats and dogs. Winds are stirring from three inter-related directions; First, tenant stability, income and occupancy levels; Second, pressure from lenders; and, Third, preservation of asset valuation. But there are steps some prope...

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