Tag Archives: foreclosure prevention

Did Wachovia Corp. Use Deceptive Marketing To Sell Mortgage Products?

This lawsuit by Wells Fargo against Wachovia was just settled. We’re seeing a ton of these civil suits to try to sort out the mess of the housing crash in 2007. Many clients feel they were sold a bill of … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Did Wachovia Corp. Use Deceptive Marketing To Sell Mortgage Products?

Is A Slowdown In Mortgage Foreclosures A Good Sign For The Housing Economy?

No, this slowdown is not good news. It just signals that the foreclosure market remains gummed up and inefficient. Banks are reluctant to process mortgage foreclosures for many reasons including bad public relations and their tremendous load of foreclosed properties … Continue reading

Posted in Foreclosure, mortgage | Tagged , , , , , | Comments Off on Is A Slowdown In Mortgage Foreclosures A Good Sign For The Housing Economy?

Wells Fargo Offers Free Mortgage Seminars To Those Struggling With Their Payments

When a lender forecloses on a home, he typically takes a $40,000 loss. So lenders don’t like to do this. They’d much prefer that you make your mortgage payments. If you’re having trouble making your payments, some lenders are getting … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Wells Fargo Offers Free Mortgage Seminars To Those Struggling With Their Payments

Unemployed Get Another Federal Benefit – A Delay in Paying Their Mortgage

The Obama administration expects less from the unemployed. If they have a mortgage, they can wait up to a year before making their next payment if they are enrolled in Home Affordable Modification Program, or HAMP. Obama admits his administration … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on Unemployed Get Another Federal Benefit – A Delay in Paying Their Mortgage

Wells Fargo, Bank of America and JPMorgan Chase Penalized By Politicians Over HAMP

Banks are not like other businesses. They can’t invest their money as they wish. Instead, they are monitored by activists and politicians and have to behave according to a different set of rules. No wonder that banks went into big … Continue reading

Posted in Banks, mortgage, Politics | Tagged , , , , , | Comments Off on Wells Fargo, Bank of America and JPMorgan Chase Penalized By Politicians Over HAMP

Is The Foreclosure System Broken?

This Washington Post series says that America’s foreclosure system is in chaos. Reading the articles, I find that the evidence they present falls far short of their spectacular claims. Few people paying their mortgage bills on time have been wrongfully … Continue reading

Posted in Foreclosure | Tagged , , , , , | Comments Off on Is The Foreclosure System Broken?

Banks Not Eager To Make Mortgage Modification Easier

I don’t know why politicians are wasting our money to subsidize those who bought more home than they can afford. Why are we subsidizing those who made bad decisions? Why are the responsible once again bailing out the irresponsible? Banks … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Banks Not Eager To Make Mortgage Modification Easier

Should The Government Push For Mortgage Principal Reduction?

I suspect the Republican-controlled U.S. House of Representatives is not so into mortgage principal reduction backed by the U.S. government. I suspect Republicans in particular of tiring of intervention into the mortgage market. It has not worked particularly well the … Continue reading

Posted in Banks, Foreclosure, mortgage, Politics | Tagged , , , , , | Comments Off on Should The Government Push For Mortgage Principal Reduction?

House Republicans Seek To Kill Obama’s Mortgage Plan

Conservatives in the U.S. House of Representatives want to kill many of Obama’s fanciful ideas, including his HARP program for mortgage relief. The freer the market for housing, the quicker that sector will recover. Liberals want more government intervention. They … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on House Republicans Seek To Kill Obama’s Mortgage Plan

House Republicans Kill Two New Mortgage Programs

I guess they put those programs in the crosshairs and killed them! The massive government interventions to stem foreclosures has not seemed to have helped much as that tide keeps rising. Like most liberal programs, they mean well but don’t … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on House Republicans Kill Two New Mortgage Programs