This is a big shift in underwriting policy - from the latimes.com: Here's a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren't sufficient to qualify for a mortgage under today's tough underwriting standards: Thanks to a rule change...
Some excerpts from the latimes.com - thanks daytrip! Michele and Russell Poland's credit was shot, but they managed to buy their suburban dream home anyway. After a business bankruptcy and a home foreclosure, they turned to a rare option in this era of tightfisted...
Thanks to Albert Pujols for sending this in: A former Fannie Mae sales associate who allegedly promised to provide listings to a real estate broker from the mortgage giant's REO inventory in exchange for kickbacks has been indicted on three counts of wire fraud....
As housing heads into the critical spring market, credit is finally beginning to thaw. Lenders are increasingly approving low-down-payment loans, and government-sponsored mortgage giant Fannie Mae is buying more of them. It is a noticeable shift from the last four...
Larry Delassus, a 62-year-old disabled veteran, died in court last month while continuing a three-year battle against Wells Fargo for foreclosing on his Hermosa Beach home – a battle he had to fight even though court records show he paid his mortgage two months ahead...
California's Homeowners Bill of Rights will add an estimated $30,000 of legal exposure into each and every non-judicial foreclosure, according to a white paper released by Robert L. Jackson and Associates. Intended to educate loan servicing professionals and the...
An excerpt from the latest housing commission report on how the government should participate in the mortgage industry: While private capital must play a greater role in the housing finance system, continued government involvement is essential to ensuring that...
Yesterday I attended the Bank of America REO/Short-Sale seminar for agents on their preferred list. They haven't sent me a new REO listing in about a year, so I thought I better attend, just in case it improves my chances. They mentioned that they've cut 1,200 agents...
Hat tip to daytrip for sending this in from the latimes.com: Would you support a tax reform measure that could help reduce the federal deficit, remove a needless distortion in the economy and make the system fairer? Me too, which is why I'm taking aim at a sacred cow:...
A mainstream provider has made the tax rolls available to its customers! ForeclosureRadar has announced their new service: http://www.propertyradar.com You have to search by property address only, not by owner name. But you will find data that could be helpful; the...
