Are foreclosures really slowing down? This question was answered. According to Realty Trac, the answer is yes. It seems the number of foreclosures that were filed were down by 2% over last year. So, what we are really playing is a numbers game. This statistic doesn’t mean that people aren’t losing their homes, it only [...]
Mortgage Reform
The December report of the Congressional Oversight Panel comes as no surprise to consumers and their attorneys; TARP may have prevented a bigger financial crisis for the United States but it has failed to stem the foreclosure crisis
I picked up two newspapers today and one said the housing market is coming around, and the other said foreclosures are up 15% from the same month last year. The reality is the numbers don’t mean anything when people are losing their homes. In January 2010, over 315,000 households in the United States received a [...]
As a mortgage foreclosure defense attorney, it really burns me up that homeowners are once again getting the short end of the stick. There is a double standard going on in this real estate meltdown. Lenders are telling homeowners that they have a “moral obligation” to pay their mortgages, and the failure to do so [...]
Borrowing for a home has been tough ever since the subprime securitized loan market collapsed a couple years ago. Without government help through the FHA, many such loans would not be made right now. But although the government is backing FHA, Fannie Mae and Freddie Mac and shoring up the mortgage market by backing many [...]
The other day I wrote a blog containing my thoughts on the recently enacted “Hope for Homeowners Act of 2008″. After giving the new law more thought and listening to some recent news clips, I decided to detail more problems with the legislation. This law has no teeth because of the voluntary participation aspect. That’s right, [...]
