Monthly Archives: February 2012

Saying bye to your house

Foreclosure Radar published an article which addresses the delimma of walking away from an underwater home. In 1981, English punk rock band The Clash wrote “Should I Stay or Should I Go?” about the rocky personal relationships between members of … Continue reading

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Phoenix Arizona house prices up

The housing market in the Phoenix metro area is showing signs of improvement, according to a study released today by the W.P. Carey School of Business. Single family home prices overall in the Phoenix area have been moving up since … Continue reading

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Retailers Grow as Economy Improves

America’s big retailers released their latest quarterly earnings, which recorded robust sales during and after the Christmas shopping season. Total revenue at Walmart was up by almost 6% and sales at its shops outside the United States increased by 13%, … Continue reading

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More good news about the economy

The number of people seeking unemployment aid was unchanged last week and the four-week average of applications fell to its lowest point in four years, the Labor Department reported Thursday. The figures are the latest evidence that the job market … Continue reading

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California Senate Bill 458 CA SB 458 Forgives All Debt After Short Sale

The law will further protect homeowners pursuing short sales by barring first and second lien holders from going after sellers for money owed after the short sales close. Gov. Jerry Brown signed Senate Bill 458, authored by Senate Majority Leader … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Real Estate Trends, Uncategorized | 1 Comment

Stout Law Firm Banks will be required to modify second liens that sit behind firsts “at least”. So this guarantees banks will also focus on borrowers where they do not have second lien exposure, and this also makes the settlement … Continue reading

Posted in Off Topic, Uncategorized | 1 Comment

Federal Government & Attorneys General reach landmark settlement with major banks

Because of the complexity of the mortgage market and this agreement, which will be performed over a three-year period, borrowers will not immediately know if they are eligible for relief. Borrowers from states who did not sign the settlement will … Continue reading

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National Mortgage Settlement Website http://www.nationalmortgagesettlement.com/states

Banks will be required to modify second liens that sit behind firsts “at least”. So this guarantees banks will also focus on borrowers where they do not have second lien exposure, and this also makes the settlement less helpful to … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | 9 Comments

National Mortgage Settlement

Roughly $25 billion in relief for distressed borrowers, states and federal government. After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan … Continue reading

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NATIONAL HOME OWNERSHIP RETENTION PROGRAM

The settlement contains $1.5 billion for 750,000 people who were foreclosed out of their homes between 2008 and 2011 because despite all the evidence of robosigning, faulty court documents and dropped phone calls to mortgage-servicing companies, there wasn’t much the … Continue reading

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