Monthly Archives: January 2011

Judge Lane’s Ruling: Halt All Recontrust Foreclosures in Nevada

January 28, 2011: On January 20, 2011, the honorable Judge Lane of Nye County issued an order preventing Recontrust from foreclosing on all property situated in Nevada. The lawsuit underlying the injunction involved a single homeowner as the Plaintiff and … Continue reading

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When NOT to strategically default

If you’re underwater — that is, you owe more on your home than it’s worth — a University of Arizona law professor, Brent White, can help you sort out your options. In his new book, “Underwater Home: What Should You … Continue reading

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The Face of Foreclosure- Nevada Association of Realtors

CAGE JUST SOLD SHORT HIS LAS VEGAS HOME Nearly one in four people in Nevada who lost their homes to foreclosure have admitted to walking away even though they could afford their monthly payments, according to a study released today … Continue reading

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Housing crisis rife with perverse ironies

“I am still able to pay my bills, including my mortgage,” one reader announced. “You see, my income is high and the amount of the mortgage is irrelevant to me.” Well, perhaps not so irrelevant that he’s going to actually … Continue reading

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When NOT to do a short sale

SOMETIMES YOU SHOULDN’T DO IT It’s almost always worth a try to do a short sale. If it fails you lost nothing, right? Almost right. We all have heard of the benefits to a short sale: walk away mortgage debt … Continue reading

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2011 to be a record year in short sales

January 26, 2011: Now that the Massachusetts Supreme Court has upheld a lower court’s ruling that Wells Fargo did not have the proper paperwork to foreclose on two homes, the question is what that means for the broader mortgage market … Continue reading

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To walk or not to walk: Underwater homeowners face moral dilemma

January 21, 2011: LAS VEGAS NEVADA. Mine is a nice house. Big enough for a family and all of its furniture and clothing and toys and books and papers and dogs and more books and miscellaneous junk and even a … Continue reading

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Homes sales rose 12.3% in December

January 20, 2011: Existing homes sales shot up 12.3% in December, coming in well above most analysts’ estimates and marking growth in five of the final six months of 2010. The National Association of Realtors said seasonally adjusted sales rose … Continue reading

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HUD-1 and Short Sale Approval

January 11, 2011: At the very end of the short sale transaction, when everyone has totally lost their patience and is thrilled that the deal is finally going to close, the banks generally require a final review and sign-off on … Continue reading

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Another Year of the Short Sale

January 6, 2011: The Treasury Department set a new standard for short sales in 2010 when it launched the Home Affordable Foreclosure Alternatives program. But short sales were lower than expected last year with HAFA generating fewer than 700. But … Continue reading

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