Livinincali said: It’s definitely going to be a long drawn out process. The biggest group of new defaulters are FHA loans and since the government gets to decide foreclosure on those I expect to see many more years of free rent. FHA Foreclosures would come through HUD...
From U.S. News and World Report: Many personal finance experts extol the virtue of being mortgage-free. I agree that, for many people, paying off the mortgage is a great move. While it may not always maximize your return on investment, the payoff of having no more...
This should be the end of challenges to MERS. From HW: One of the more popular claims made by homeowners suing the Mortgage Electronic Registration Systems, or MERS, failed to get passed the California Court of Appeals this past week. In the Taasen v. Family Lending...
From HW: The Securities Industry and Financial Markets Association released a legal memo on Tuesday drafted by law firm O’Melveny & Myers at the request of the association that addresses what it says are legal and constitutional problems with the infamous eminent...
Hat tip to Susie again - this from Bloomberg.com: Billionaire Mark Zuckerberg is giving new meaning to the term “the one percent.” The Facebook Inc. founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan...
From MND: The House Oversight and Government Reform Committee issued a report today on Countrywide Mortgage and its so-called VIP loan program which the committee said was "a tool used by Countrywide to build goodwill with lawmakers and other individuals positioned to...
Excerpted from Robert Shiller's editorial in the nytimes.com: Traditionally, we think of eminent domain law as applying to land and buildings. For example, a government can use eminent domain to seize real estate along a proposed new highway route so the highway can...
From HW: The Federal Reserve and the Treasury Department are considering a program that would lend to banks at very low rates so long as those firms will re-lend the money in the form of consumer loans such as mortgages. "We're very interested in it," said Fed...
From HW: Preparing for the return of the jumbo lending market and the days when Fannie Mae and Freddie Mac are no longer mortgage finance behemoths, Rancho Financial is bringing to market loans often blamed for the destruction of the nation's housing economy. A...
Hat tip to stormin for sending this along, from News10: SAN DIEGO -- Adding new uncertainty in the state's ongoing mortgage crisis, a Texas company is aggressively pursuing hundreds of Californians to collect second-mortgage debt -- on homes they've already lost...
