While news services proclaim the foreclosure rate is falling drastically and there is no reason for the public to be concerned about the housing market- the New York Federal Reserve is warning investors that the subprime mortgage industry is heating up. House prices peaked in most markets last year and now there is a nationwide decline in home prices as…[...]
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http://www.mortgagenewsdaily.com/channels/pipelinepress/06242016-mortgage-servicing.aspx by: Rob Chrisman NY Servicers Dealt Blow; Ocwen's $30 Million Settlement; Brexit: Renegotiations and Margin Calls? At Happy Hour tonight, besides talking about refis, you can throw this one out: the number of homes worth $1 million has doubled in the last 4 years. Of course 2012 was pretty much the bottom of the real estate market, and it…[...]
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COMMONWEALTH OF MASSACHUSETTS – COURT OF APPEALS – NO. 2015-P-1259U.S. Bank, N.A., as Trustee for RASC 2006KS9 v. Wendy Bolling (This article is not a legal opinion. Hire an attorney for individual cases.) A Major Blow to Banks and Servicers In a decision that could ripple through foreclosure litigation, the Massachusetts Court of Appeals dealt U.S. Bank and other mega-banks…[...]Continue Reading
http://www.jdsupra.com/legalnews/court-of-appeal-addresses-prejudice-48045/ By Kevin Brodehl If a property owner loses their property through a foreclosure sale initiated by someone who did not validly own the debt, has the property owner automatically suffered enough “prejudice” to pursue a claim for wrongful foreclosure? Or does the property owner also need to show that it would have been able to avoid foreclosure by paying…[...]
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[caption id="attachment_36890" align="alignnone" width="500"] Commercial Real Estate: Retail and Office Space Vacancies Increase.[/caption] By William Hudson Before any financial crisis, there are certain signs that appear that should cause homeowners and investors to batten down the hatches. Although this is an unscientific analysis, over the last three housing bubbles certain patterns emerged. First of all wages will stagnate, next the…[...]
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[caption id="attachment_36477" align="alignnone" width="463"] Neil Garfield's Foreclosure Information Service[/caption] Introducing- a new online service for homeowners and attorneys who have a question regarding a foreclosure issue. Neil Garfield will answer questions you may have regarding standing, assignments, foreclosure, or other issues. The answer provided is NOT legal advice and there is no implied attorney/client relationship. The Question and Answer service…[...]
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[caption id="attachment_36872" align="alignnone" width="407"] Mortgage Madness at Wells Fargo and Bank of America[/caption] http://www.cnbc.com/2016/05/26/wells-fargo-launches-3-down-payment-mortgage.html http://www.dsnews.com/news/03-22-2016/is-bank-of-americas-new-mortgage-program-a-substitute-for-fha-lending By William Hudson Wells Fargo and Bank of America have announced that they will be offering 3% down loans that are proven to be as high risk as no-money-down mortgages. These loans will be offered to people with poor credit. If 3% is too…[...]
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Someone needs to go back to the Declaration of Independence. Government exists only by consent of the governed. People are withdrawing their consent on a daily basis now. Where do you think that will lead? see http://www.housingwire.com/articles/37308-countrywides-mozilo-reportedly-off-the-hook-for-all-those-subprime-mortgages?eid=311685972&bid=1437193#.V2RJhpGUqsU.email Revenge is not the point. But justice is important. Mozilo was, in my opinion, just a bag man for the mega banks, making…[...]
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People take things seriously in court. Judges and lawyers, not so much. People think that the banks have feelings for them --- negative but nonetheless feelings. They don't. It is all a game to them of strategy and tactics just like it has always been in trial work for centuries. Neither the banks nor their lawyers hate you. They just…[...]
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By William Hudson "Emotional violence is another kind of abuse ... it's not about words because an emotionally abusive person doesn't always resort to using the verbal club, but rather the verbal untraceable poison." ~Augusten Burroughs The banks commit felonious financial crimes against homeowners with impunity. But even more egregious and unconscionable than the theft of assets, is the…[...]
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