For property owners and attorneys who are dealing with Ameriquest, Ithought it would be useful to post an article about the settlement regarding the allegations of predatory lending. Here is the article from The Business Review:
Foreclosure rescue scams are out there in abundance. My clients get calls, letters and knocks at the door from people who just want their house. But they will never tell that to the homeowner. In fact, they usually say the exact opposite. Many of the scams fall into two main categories: (1) Pretend help/consults; and […]
Many clients come down to last few days just before a foreclosure sale. There are many reasons why things go to the last minute. Some have been trying to refinance. Others want to sell. Others are waiting for that friend or family member to save them. Often, the solution lies just around the corner but […]
“HomeSavers USA, Inc., is not a law firm. We do not give legal advice. These guidelines are not to be construed as legal advice or the practicing of law.” This is what it says on homesaversusa.com’s site. I cannot tell you how many clients have come to me after consulting with and paying an out […]
The NY Times reported yesterday in “Beware of Exploding Mortgages” that “anyone who believes that the worst is over in the subprime mortgage fiasco need merely wait awhile. A tsunami of interest rate increases on these loans is headed your way.”
Mortgage brokers and direct lenders have tightened lending guidelines to those with excellent credit. So, what does this have to do with foreclosure? Everything. Often, a property owner may be bailed out by an investor/buyer on a straight sale or a leaseback with a repurchase option. These types of investors do not consider the transaction […]
When a homeowner is trying to figure out a solution to foreclosure, it is almost always necessary to know if there is any equity in the home. The value of the home and the equity above any liens to be paid off is very important regardless of which solution is considered. Lenders cannot evaluate a […]
The NY Times has just written about New Yorkers fighting off foreclosure. Here is the article.
Smartmoney is reporting that investors are slowing down on foreclosure purchases. There are a few reasons for this that I have seen in my practice, including the softening of the real estate market, tightening of lender guidelines, the renovations needed by many properties, and the limited equity that many homeowners have. These factors all reduce […]
If you are in default on a mortgage, it is always a good idea to check out your credit report – because everyone else will. Whether you are trying to refinance, file bankruptcy, obtain a forbearance agreement, or negotiate a sale-leaseback, others will need to see your overall credit picture. Annualcreditreport.com is a central site […]