Foreclosure Flaws Made Public! Attorney Generals Investigate!

Foreclosure Flaws Made Public! Attorney Generals Investigate!
Lenders and servicers brace for legal action A JP Morgan Chase & CO executive recently acknowledged, in a deposition to a court case in Florida, she signed thousands of foreclosure documents on the bank’s behalf without personally checking loan records. This comes on the heels of an Ally GMAC employee who, in a December 2009 deposition, acknowledged that he signed thousands of foreclosure documents without verifying their accuracy. Various state Attorneys General are investigating. What remains to be seen is just how widespread this practice has been. “the suspicion is that there might have...
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Denver Service Member Short Sale Relief

Denver Service Member Short Sale Relief
Fannie Mae Offers a Break to Service People Fannie Mae says it will reduce or suspend mortgage payments for up to six months for military families if they are unable to pay because of the injury or death of a service member. Military members or surviving spouses should contact their mortgage company or call this special military phone number: (877) MIL-4566. Source: The Associate Press (09/27/2010) Facing foreclosure? Consider a short sale! I can help you with a short sale and possibly never pay the bank another penny. Send me an e-mail at joehildebrand@remax.net. I will contact you for a free...
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Fannie Mae gets tough!

Fannie Mae gets tough!
Fannie Mae to crack down on Foreclosure Delays You may or may not know this but for years many real estate agents chose to avoid short sales altogether! Some still do. For some agents their lack of knowledge of the short sale process keeps them away, for others it is perceived liabilities, but for many the process was simply too much of a headache. Now that short sales have become a household term buyers and sellers, both, are making the same discovery! The process can be long, tedious, and will most certainly test the patience of anyone involved with a short sale. Following a meeting with bloggers...
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Fannie Mae unveils new site to help borrowers!

Fannie Mae unveils new site to help borrowers!
Know Your Options Many homeowners don’t know what to do or where to turn for assistance when they are struggling with their mortgage payments or facing foreclosure. In fact, that is why I created this blog! I wanted there to be a one stop source of information and resources to help those in need. I encourage everybody who contacts me to at least learn about all of the options available to them before deciding on a course of action. Well now there is a new resource! Fannie Mae recently unveiled and launched their new website: Know Your Options. It is a well designed and organized site full of...
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No mortgage modifications for the jobless!?

No mortgage modifications for the jobless!?
No mortgage modifications for the jobless Well…what can you say? When it rains, it poors! Like the Treasury Department, Fannie Mae, beginning November 1, will no longer count unemployed homeowners’ jobless benefits as income when applying for a modification if the borrower has a loan is backed by Fannie Mae. This move will most assuredly prevent many borrowers from getting a long term reduction in their monthly payments. Because the jobless benefits cannot be considered permanent income, lenders will now evaluate borrowers for a forbearance plan of up to six months. This move by Fannie Mae...
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Why HAMP is failing

Why HAMP is failing
I think this article does a great job of explaining the HAMP program’s failure. Far better than I could. Enjoy. You can find this article at: http://www.credit.com/loans/infographic/2010/09/00000/why-the-home-loan-mod-program-is-failing  Why the Home Loan Mod Program is Failing 09/22/2010 By Credit.com It’s the biggest mortgage program introduced by the federal government in decades. It’s the Obama administration’s best hope to help homeowners avoid foreclosure and save the U.S. economy. And it’s an abject failure. “The bottom line is this is just an unworkable...
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