Monthly Archives: October 2009

The Right to a Deficiency Judgment In a Short Sale

THE DEVIL IS IN THE DETAILS Absent express language in a short sale agreement releasing the lender’s right to a deficiency judgment, the lender has six (6) years to file suit against the homeowner for the difference between the loan … Continue reading

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Frustrated Homeowner Takes his Bank to Court

A Las Vegas Now Article reports that the foreclosure mediation law allows any homeowner going into foreclosure to force their mortgage lender to try mediation first. Under the law, if the mediator finds that the bank did not come to … Continue reading

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Some homeowners sue, seek senator’s aid to get mortgages altered

An article in Las Vegas Review Journal reports that homeowners are getting nowhere with the bank on modifying her home mortgage, Denise Fuleihan resorted to a tried-and-true American strategy: Sue. Local media outlets show a varying housing market, for example, … Continue reading

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Lenders fear how ‘bad faith’ mediation standard will be interpreted

A Las Vegas Business Press Article reports that the Nevada Supreme Court passed tougher rules to force lenders to work with homeowners in foreclosure, but some lenders are worried that they may be unfairly sanctioned. Mediators working with homeowners have … Continue reading

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Foreclosure Mediation Allowing More Time in the House For the Homeowner

An article in the Las Vegas Review Journal reports that the mortgage foreclosure mediation program and similar programs in other states are delaying efforts to resolve problem loans, the top official at the Mortgage Bankers Association said today. “We find … Continue reading

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Lessons Las Vegas Can Learn From the Rust Belt

An article in the Las Vegas Sun compares and contrasts Las Vegas to Detroit and other one industry towns. These are Americans from the Rust Belt — the string of cities from the Northeast to the upper Midwest, whose industrial … Continue reading

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Autumn 2009 Foreclosure Prevention Workshops

BUT WILL THEY WORK? Senator Reid scheduled several “FORECLOSURE PREVENTION” WORKSHOPS to take place the rest of the year. Click here for Senator Reid’s website. You may be able to restructure your mortgage to an affordable payment by permanently reducing … Continue reading

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Another MERS Must Produce the Note Ruling

A MERE ANNOYANCE BUT NO GAME CHANGERA Las Vegas Sun Article reports that a bankruptcy judge here, joining judges across the country, is throwing a bit of sand in the gears of the mortgage machine and its ruthless foreclosure blade. … Continue reading

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Preserving Homes and Communities Act of 2009

ANOTHER LAW WITH NO TEETHWASHINGTON, DC – In an “effort” to curb record-high foreclosure rates across the country and stabilize the housing market, U.S. Senator Jack Reed today introduced legislation that will help keep families in their homes and prevent … Continue reading

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