Tag Archives: distressed homeowners

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

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The Return Of Foreclosure Filings

Foreclosure filings have been delayed by snafus in paperwork processing by the big banks and by unfriendly judges who like to side against lenders and for the little guy. Banks have been afraid to push ahead as scheduled with foreclosure … Continue reading

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Major Mortgage Lenders May Be Forced To Reduce Mortgage Principal

What this will do to lenders desire to lend in the future is apparently of little concern to the Obama administration. I would not want to lend out money with Obama’s gang ready to step in and arbitrarily rewrite contracts. … Continue reading

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The California Housing Finance Agency Slow To Aid Distressed Homeowners

You can’t pay your mortgage? Well, Obama is in office. You don’t have to worry about that anymore, right? Obama is going to take care of you. He’s going to take care of your mortgage. He’s gonna get you Obamacare … Continue reading

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Fannie Mae Opens Up Centers To Counsel Distressed Homeowners

The U.S. taxpayer has invested $134 billion so far into Fannie Mae and Freddie Mac. It is good to know that they are using this money wisely. Or will they get confused about their mission? The LAT reports: Since the … Continue reading

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Feeling Like A Sucker For Not Walking Away From An Underwater Home

I am amazed at how often people stay in underwater homes. They have a huge economic incentive to walk away but they feel a moral responsibility to pay off their mortgage, even when it is not in their self-interest. Banks … Continue reading

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An Interview With A Foreclosure Expert

Brad Geisen is the CEO of Foreclosure.com. At parties it used to be an awkward topic. Hi, I’m Bob. I’m a foreclosures expert. But now the times have changed and a lot of people like to talk about foreclosure. Foreclosures … Continue reading

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Busting Foreclosure Myths

From the book Foreclosure Myths: Waiting for an agent to list a foreclosure property guarantees a long endless wait. Foreclosure properties simply are not listed by agents. The only time agents may get involved is if the homeowners hire an … Continue reading

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Hope For Homeowners Programs

Sheila Bair offered an aggressive approach a couple of weeks ago before Congress. She proposed insuring mortgages in exchange for banks restructuring loans. Still, nobody has figured out a way to reduce foreclosures without encouraging people to get behind with … Continue reading

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A Deal In Sight For Mortgage Aid

The government keeps throw everything at the wall to stop the financial downturn. It’s an international crisis and governments and central banks around the world are cooperating. The two major bond insurers want help. They have sent in letters with … Continue reading

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