Mr. Mortgage has some new data on another surge of foreclosures: http://www.fieldcheckgroup.com/2009/04/07/4-7-ca-foreclosures-about-to-soar/#more-94 These charts do not look pretty. Two months from now, the foreclosure crisis will be top of the news once again catching everyone off guard because of the past six months ‘intervention’. Thanks Washington. The chart below highlights the top servicers in the […]
Jeana Morrissey, fellow Arizona attorney, wrote the following excellent article on her firm’s web site, http://www.keytlaw.com “Beware of Unlicensed Loan Modification Services If you are considering using the services of a loan modification service for a loan secured by Arizona real property, make sure that the service is licensed by the Arizona Department of Financial […]
Bill Black, law and economics professor and former regulator of the S&L crisis is interviewed by the iconic Bill Moyers. You can see the video on the PBS web site. It’s definitely worth a watch. Here’s the link: April 3, 2009 The financial industry brought the economy to its knees, but how did they get […]
This is a snippet from Neil Garfield’s Living Lies blog. Neil has a wealth of good information on his blog, check it out. This is his commentary on a recent NY Times article entitled “Why Creditors Should Suffer Too.” http://livinglies.wordpress.com/ This article is on the right track. Using the guidelines of resolution trust, a fair […]
This blog post is from http://www.seekingalpha.com… Why It’s Better To Bail Out Borrowers Than Banks by: Felix Salmon April 11, 2009 | about stocks: AIG / BAC / C / GS / JPM Felix Salmon Justin Fox does us the favor of asking—-again—-why we’re bailing out banks rather than borrowers. If I had to […]
What’s Holding Back Mortgage Modification? Many mortgage services say they can’t modify terms to let homeowners avoid foreclosure. But there may be fewer obstacles than they claim By Brian Grow http://www.businessweek.com/magazine/content/09_08/b4120034100121.htm BW Magazine The Other Mexico: A Wave of Investment IN: Inside Innovation Jack Bogle’s Last Crusade? News You Need to Know Unemployment: How Bad […]
4-7 — CA Foreclosures About to Soar…Again Tuesday, April 7th, 2009 | By Mr. Mortgage Foreclosures About to Soar Near-Term — Easily Back to All-Time Highs Are you ready to see the future? Ten’s of thousands of foreclosures are only 1-5 months away from hitting that will take total foreclosure counts back to all-time highs. […]
This is an interesting blog post in Naked Capitalism—it talks about why servicers aren’t doing substantive modfications and effecting real change through writing down principal to FMV. http://www.nakedcapitalism.com/2009/04/mortgage-mod-failure-rates-rising.html
Beth Findsen Attorney 