Still no news as of this post on the resurrection and extension of the Mortgage Debt Relief Act passed by President Bush in the final days of his administration. A proposed bill cleared the Senate subcommittee on finance several months ago but it has not made progress through the full Senate or House yet. President…
Attorneys across the country who share the passion to level the playing field between struggling homeowners and mortgage companies often network and discuss market trends, new strategies to defend against foreclosure, and the latest lender tactics. Among the latest chilling experiments by the mortgage industry many stretch the concept of an auction in ways that…
At first this sounds like great news for consumers. In reality, the only good news for consumers is that we live in America where you have the freedom to make risky choices. Only a decade ago you could buy more home than you could afford by paying just a little higher interest rate using a…
We try not to wander too far afield into the political end of things. But sometimes you just have to give credit where credit is due and point out some of the obvious consequences of laws affecting lenders, borrowers, default, and legal ramifications. Dodd-Frank and the ensuing Quality Management or QM regime enforced upon the…
Nationally, we have seen between 2% to 7% rise in home prices over the past year. Big California cities have seen the biggest increases. The latest news is based on the increase in prices and reduction in time on market between February 2013 and February 2014. “Black Knight Financial Services released its Home Price…
The Senate Finance Committee passed a two year extension of the Mortgage Debt Relief Act. It will be retroactive to 1-1-14. So short selling homeowners whose closings occurred during the first four months of 2014 have a greater hope of not needing to use one of the “work-arounds” we’ve talked about in other blog entries,…
For many of our short sale clients, they waited a little too long to get our help. Nothing breaks our heart more than to interview a new client at the 11th hour and find that the normal techniques for avoiding foreclosure will not work. Most of these negotiated course changes take a few days or…
Whether it was Perry Mason, LA LAW, or an actual relationship with an attorney, most of us have stereotypes of attorneys. Not only attorneys in general, but the way you think of an F. Lee Baily or Johnny Cochran type litigator is probably not the same way you feel about a Tax Attorney. When you…
Perhaps no other profession in North America is in more dire need of respect and appreciation than that of realtor/real estate agent. Setting aside the jokes about the world’s 2nd oldest profession, even early caveman needed an “MLS” and an efficient way to evaluate all the important aspects of a prospective cave’s suitability to the…
Some short sale clients ask: “Why do you charge an up front fee for your services? and what good is $100, really? What can you cover with $100?” The lion’s share of the initial $100 charge is to pay to have our client’s title searched. In the Virginia conveyancing industry, title examination is almost always…
