Monthly Archives: March 2012

Short Sales

3-9-2014: So why are short sales taking so long? According to the Zillow Blog, banks, bureaucracy, lost paperwork, and more than one lender can’t agree are some reasons. 8-23-2013: It really helps if credit bureaus have a special code for … Continue reading

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Fannie Mae plans to sell large pools of foreclosed properties to investors

5-21-2012: Almost 500 of 2,500 homes slated for sale to investors in the Atlanta metro area. California congressman is trying to stop it in California. Source: http://www.inman.com/news/2012/05/18/bill-would-stop-bulk-reo-sales-in-california I recently watched the movie “Animal House” and caught the scene where Dean … Continue reading

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Report Mortgage, Foreclosure and other scams to the FTC or is it the CFPB?

UPDATE 3-16-2012:  If you’ve experienced difficulties with a financial product, the CFPB (Consumer Financial Protection Bureau) wants to hear from you. They’ll forward your issue to the company, and perhaps the scam/fraud claim to the FTC, and provide you status … Continue reading

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Residential Home Warranties

A Home Warranty is really “home maintenance” insurance policy. Home Warranty Companies “issue” home warranty policies. These specialized “insurers” charge an annual fee for the “coverage”, and offer service call “deductibles” where authorized, screened contractors are dispatched to resolve household … Continue reading

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Will the new Qualified Residential Mortgage (QRM) criteria solve or create more problems?

During the mid 2000’s housing boom, did lenders produce lot of crappy loans – yes.  Is the QRM a solution to crappy loans – yes, in a way – But isn’t it like taking a chainsaw to the table to … Continue reading

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Housing market predictions – let’s see who is right over time

I’ll attempt to collect real estate market predictions from “experts” around the country. My accurate prediction:  Some predictions will be right – some wrong – and some vaguely true. My real prediction:  Two forces will continue to apply downward pressure … Continue reading

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Report Mortgage, Foreclosure and other scams to the FTC

Webinar about foreclosure scams and frauds presente by HUD and the FTC representatives. 2-28-2012 Webinar presentation:  http://www.visualwebcaster.com/imageSlides/84977/Preventing%20Mortgage%20Fraud%20Foreclosure%20Scams%20Webinar%20(FINAL).pdf FTC’s Money Matters Scam Reporting Website: http://www.ftc.gov/bcp/edu/microsites/moneymatters/your-home.shtml References to products and services are not a specific endorsement, but the user must perform their … Continue reading

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Who’s going to jail or getting fined over real estate/mortgage crimes?

This BLOG post will be updated on an ongoing basis to update you on who’s paying for their behavior.  My guess is probably not enough people and not enough pain… Public hanging or medieval stockades anyone? (Does it seem like … Continue reading

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HUD – FHA raises monthly & upfront Mortgage Insurance Premiums…again

Per the recent HUD press release, the Temporary Payroll Tax Cut Continuation Act of 2011 requires FHA to increase the annual MIP it collects by 0.10 %. This change is effective for case numbers assigned on or after April 1, … Continue reading

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New Mortgage Disclosure Paperwork – Confused yet?

4-4-2014: The CFPB just released 89 pages of guidelines for TILA-RESPA Integrated Disclosure Rule – (i.e., disclosure forms to be used for real estate closings) to be implemented on and after August 1, 2015. Note: The TILA-RESPA rule consolidates four … Continue reading

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