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Foreclosures At All Time High
Recent reports say that mortgage foreclosure rates were at an all time high last year, mostly due to subprime adjustable rate mortgages. No surprise there. I am seeing this every day “in the trenches.” Many of the callers to my firm are homeowners who bought a property around 2005 or 2006 with 100% or close […]
When Banks Mess Up Accounting Make A Qualified Written Request
As the mortgage foreclosure mess grows, banks are complaining that they cannot properly comply with accounting rules on modified loans because they never developed systems to deal with so many restructurings. Some attorneys may be able to take advantage of lender’s mistakes and convince courts to block foreclosures. One strategy is to start with a […]
Foreclosures At All Time High
/in Foreclosure & Loan Mod Blog /by Scott LaninRecent reports say that mortgage foreclosure rates were at an all time high last year, mostly due to subprime adjustable rate mortgages. No surprise there. I am seeing this every day “in the trenches.” Many of the callers to my firm are homeowners who bought a property around 2005 or 2006 with 100% or close […]
When Banks Mess Up Accounting Make A Qualified Written Request
/in Foreclosure & Loan Mod Blog /by Scott LaninAs the mortgage foreclosure mess grows, banks are complaining that they cannot properly comply with accounting rules on modified loans because they never developed systems to deal with so many restructurings. Some attorneys may be able to take advantage of lender’s mistakes and convince courts to block foreclosures. One strategy is to start with a […]