All Posts Tagged With: "mortgage"
This Mortgage Lender Is A Fake (Don’t Just Take Our Word For It)
You can’t help but wonder about the good folks at Esteemed Lending Services. They seem so sure, so certain, so familiar….
If you want a mortgage, Esteemed has one for you. Recent bankruptcy? No problem? A foreclosure last month? So what. Less income? They can work with you.
And help with short sales? Who could possibly do [...]
FTC Does Mortgage Loan Audits
Yesterday I criticized the Federal Trade Commission’s view of mortgage loan audits. The idea was not to defend fraudulent loan audit practices but to say that the FTC did not provide an alternative for borrowers who face what may be unjustified and overblown mortgage claims. I said the public should use licensed and experienced attornies [...]
8Jun2010 | Peter G. Miller | 0 comments | Continued
Can “Mortgage Loan Audits” Stop Foreclosures?
At first it sounds like a good idea for concerned borrowers: Stop foreclosure by showing that the lender has improperly calculated the amount owed. If the lender did not appropriately credit a payment, improperly charged a fee or used the wrong interest rate then the borrower would have grounds to contest a foreclosure action or [...]
7Jun2010 | Peter G. Miller | 1 comment | Continued
Should We Tax Our Vets?
The IRS has created an excellent Web page — Tax Information for Members of the U.S. Armed Forces — which explains tax issues for those now on active duty. There are a huge number of rules, most of which greatly benefit those now fighting overseas.
But when you look at the forms, deductions, exceptions, alternatives, [...]
Feds Start New Short Sale & Deed-in-lieu of Foreclosure Options
Large numbers of people facing foreclosure have been helped by the government’s Making Home Affordable program, but what about those who can’t succeed under the plan?
Truth is, a lot of people who enroll in the foreclosure prevention program don’t make it. The government reports that through April 299,092 borrowers received permanent loan modifications under Making [...]
FBI Expanding Fight Against Mortgage Scams
The FBI is adding a large number of agents to fight mortgage fraud and predatory lending, but will it be enough?
Speaking before the Senate Judiciary Committee last year, FBI Assistant Director Kevin L. Perkins noted that the FBI now has new funding to chase mortgage fraudsters under the Financial Intelligence Center (FIC).
The FIC, says [...]
Stock Prices At Heart Of Mortgage Crash
A new and revealing study by the Mortgage Bankers Association argues that the introduction of risky loan products during the past few years was caused in large measure by efforts to pump up lender stock prices.
Written by Clifford V. Rossi, a business professor at the University of Maryland, Anatomy of Risk Management Practices in [...]
Mortgage Modification or Refinance — What’s The Difference?
Is it better to modify a mortgage or to refinance? While both result in new loan terms, the two choices are very different.
When you refinance a mortgage you replace an existing loan with a new one. There’s no need to negotiate with the old lender because his mortgage claim will be extinguished. However, borrowers with [...]
Foreclosure Buying & Mortgage Walk Aways More Acceptable, Says New Poll
A new poll from RealtyTrac and Trulia.com shows that a growing number of home buyers are considering the purchase of a foreclosed home — and are willing to talk away from the one they’ve got.
At this time 78 percent of U.S. adults believe there are downsides to buying foreclosed properties compared to 85 percent in [...]
$624 Million Settlement Doesn’t Mean A Dime For Mortgage Borrowers
According to the State of New York it has now achieved a $624 million preliminary settlement from Countrywide Financial Corporation and its accounting firm, KPMG. The arrangement must be approved by a California judge, perhaps in September
It is alleged that “Countrywide, one of the country’s largest mortgage lenders, violated securities laws by making misstatements and [...]
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