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Original Article. Urban Institute: Foreclosure backlog to 'take decades to complete' « HousingWire. How this affects Arizona, time will tell. Arizona is not a judicial state and though foreclosure filings i.e. recording Notices of Trustee Sale have risen, the speed of which homes are going to foreclosure slowed. There are still rampant problems with the foreclosure process and properly … [Read more...]
Another Year of Short Sales at Mortgage Mediation Group 2011: A year of foreclosure litigation and strategic default. Can I get a No Duh! Bottom line, we can expect Short Sales to play a huge roll in 2012. Are you ready? http://www.housingwire.com/2011/12/28/2011-a-year-of-foreclosure-litigation-and-strategic-default Great article. Master of the obvious. We would all love for their to be … [Read more...]
Fannie Mae Removes 'Ability to Repay' from HARP 2.0 Guidelines original article here Stated Income / No Doc comes back to lending. huh? I really want people to make good decisions, but this is nutts. Didn't we already make this mistake in the recent past? Harp 2.0 is starting to look allot like good old No Doc refinance. Sure it is good for the originator to get additional business, but … [Read more...]
Treasury warns Chase of permanent HAMP witholdings Original Article The Treasury Department will withhold Home Affordable Modification Program HAMP payments from JPMorgan Chase (JPM: 33.95 +2.17%) and Bank of America (BAC: 5.88 +1.73%) for the third straight quarter. With so many homeowners facing foreclosure for so long you would think Chase would get it? On the other hand, maybe they do. It … [Read more...]
Arboleda Brechner (www.abfirm.com) is pleased to announce the addition of Kevin W. Hardin CMB, CMC, CMPS to the firm. Mr. Hardin was previously the Director of the Mortgage Mediation practice group (www.MortgageMediationGroup.com) at Thomson Law, PLC, the leading practice group involved in Short Sales and Foreclosures here in Arizona. With negative equity and foreclosure issues growing unabated it … [Read more...]
As more and more Arizona homeowners find themselves in a situation where they owe more on their home than their home is worth, strategic defaulting is becoming more common. Simply put, strategic default is when you can afford your mortgage payment, but you elect to stop making it. Many times when the topic of strategic default is brought up, there will be a heated debate regarding the … [Read more...]
FTC Will Not Enforce Provisions of MARS Rule Against Real Estate Professionals Helping Consumers Obtain Short Sales Today, July 15th, the Federal Trade Commission issued a Press Release found here that notices the Real Estate Community that they will not enforce certain provisions of the MARS rules against Real Estate Agents. "As a result of the stay on enforcement, these real estate … [Read more...]
