Monthly Archives: November 2009

Strategic Default- A Third Study Recommends Walking Away

ITS TIME WE WALKEDHomeowners should be walking away in droves,” Brent T. White, an associate professor of law at the University of Arizona, wrote in a discussion paper. The real mystery is not—as media coverage has suggested—why large numbers of … Continue reading

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Long Island Judge Voids Mortgage

BUT WILL IT WORK IN NEVADA?A Suffolk judge’s decision to wipe out the mortgage debt of a foreclosed-upon East Patchogue couple may send a message to predatory subprime lenders that unless they work to save their customers’ homes, they stand … Continue reading

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Please, Please, Please Modify Those Home Loans

HAVE THEY NO SHAME? Like a true cage fighter, Obama “talks tough” at the lenders in another attempt to scare them to modify more loans says an article in the LA Times. Stunned by the banks’ failure to vountarily help … Continue reading

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Only 372 Mediation Sessions Completed First Six Months of Program

1 OUT OF 10 HOMEOWNERS IN DEFAULT OPT FOR MEDIATION The Nevada Supreme Court says more than 3,400 homeowners who’ve received notices of default have requested mediation under a new program that took effect July 1. Under the program administered … Continue reading

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Foreclosure Mediation is Getting Older and Wiser

In nearly 70% of the cases, the homeowner and lender are able to reach agreement. Mediators are being called upon to ensure that lenders are making a “good faith” effort to re-negotiate loan terms, the Baltimore Sun recently reported in … Continue reading

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Foreclosure Mediation- Time for California to Jump on Board?

Mediators are being called upon in Baltimore, Maryland to ensure that lenders are making a “good faith” effort to re-negotiate loan terms, the Baltimore Sun recently reported, following closely in the steps of many states and cities working to use … Continue reading

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