Monthly Archives: June 2010

Soy Gringo Part Two

JACO BEACH COSTA RICA, A PLACE FOR EXPATS I think I’ll give my 2 cents on the Arizona immigration law deal. Its all about the language. I eat at cheap Mexican and Central American fast food restaurants in sketchy Las … Continue reading

Posted in Off Topic, Uncategorized | Leave a comment

Federal Legislatures Consider Punishing Strategic Defaulters

Confident that house prices would never stop rising, most Americans never bothered to check what would happen if they defaulted. After all, who would walk away from a house worth more than the mortgage states an article in City Journal. … Continue reading

Posted in Uncategorized | Leave a comment

Senator Reid to Extend First Time Buyer Tax Credit to September

Washington, DC – Nevada Senator Harry Reid today joined with Senators Johnny Isaakson of Georgia and Chris Dodd of Connecticut to introduce an amendment to the American Jobs and Closing Tax Loopholes Act of 2010 that would extend the deadline … Continue reading

Posted in Uncategorized | Leave a comment

Most HAMP Loan Mods Will Default

Though both Home Affordable Modification Program (HAMP) and servicer-specific loan modifications continue to increase, a sizeable amount of these loans will default again within a year, according to Fitch Ratings in a new report. As a result, Fitch maintains its … Continue reading

Posted in Uncategorized | Leave a comment

Countrywide Settles Lawsuit for $540.00 per Plaintiff

Every Little Bit Counts The Federal Trade Commission announced Monday that two Countrywide mortgage-servicing companies have agreed to pay $108 million to settle charges that they collected excessive mortgage-servicing fees from financially troubled homeowners. Two Countrywide mortgage servicing companies will … Continue reading

Posted in Uncategorized | Leave a comment

Waiving a Deficiency Judgment Depends on the Homeowner’s Wealth

THE COLLECTABILITY OF A PARTICULAR DEFICIENCY JUDGMENT IS THE MAIN FACTOR Bank of America wants to end the suspense as to whether or not a homeowner gets sued for the deficiency after the short sale. Jack Schakett, Bank of America … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | 2 Comments

California Foreclosure Mediation

Assembly Bill 1639, the California Foreclosure Mediation bill would establish the Facilitated Mortgage Workout (FMW) program. Through it, lenders are required to meet with borrowers to develop a modification plan before foreclosure. The loan must have originated before Jan. 1, … Continue reading

Posted in Off Topic, Uncategorized | Leave a comment