Category Archives: Foreclosures Short Sales Mortgage Litigation

I Just Got Sued For A Deficiency Judgment, Now What?

Stout Law Firm Stout Law Firm DEFICIENCY JUDGMENT LAWSUITS ARE SPEEDING UPAugust 24, 2010: Lenders are ramping up their efforts to sue former homeowners for deficiency judgments. Lenders are suing homeowners sometimes after foreclosure and sometimes after short sales, on … Continue reading

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The end of the foreclosure era

Stout Law Firm Foreclosures are so over. No more “show me the note”. Enough of the “MERS can’t do that”. I won’t miss securitization audits. Never again file a skeleton bankruptcy the day before the foreclosure auction. Mortgage litigation is … Continue reading

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Mortgage Debt Relief Act for Short Sellers and Foreclosures Extended Through 2013

Of most interest to real estate, the bill would extend mortgage cancellation relief for home owners or sellers who have a portion of their mortgage debt forgiven by their lender, typically in a short sale or foreclosure sale for sellers … Continue reading

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Rebuilding credit score after foreclosure or short sale takes ten years or longer

Evidence suggests that the process of regaining creditworthiness is lengthy. Borrowers who terminated their mortgages for reasons other than default returned to the market about two-and-a-half times faster than those who defaulted. This has important implications for the housing recovery. … Continue reading

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United States sues Bank of America for $1 Billion for Doing the Hustle

America filed a civil mortgage fraud lawsuit against Bank of America, accusing it of selling thousands of toxic home loans to Fannie Mae and Freddie Mac that went into default and caused more than $1 billion of losses. Wednesday’s case, … Continue reading

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Bank of America sues HOAs

In a new twist, Bank of America filed suit in Clark County District Court earlier this week against numerous Homeowner Associations which foreclosed on homes wherein the Bank had secured mortgages. The suit claims that the HOAs are pursuing more … Continue reading

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Home buyers are back after foreclosures

AFTER FORECLOSURE OR SHORT SALE YOU CAN BUY AGAIN IN THREE YEARS Millions of families lost their homes to foreclosure after the housing crash hit six years ago. Now, some of those families are back in the housing market. Call … Continue reading

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Bank litigation still going strong

HARDLY a week goes by without an announcement of a big lawsuit against a bank in America. Wells Fargo was this week’s target: the Department of Justice sued the bank for allegedly dodgy lending, among other things. Last week it … Continue reading

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Foreclosures hit 5 year low

Foreclosure activity reached a 5-year low in September with only 180,427 filings made on distressed properties, RealtyTrac said Thursday. The filings surveyed include default notices, scheduled foreclosure auctions and bank repossessions. Overall, September’s foreclosure numbers fell 7% from August and … Continue reading

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Oregon MERS case Niday

In the Niday v. GMAC case, the Oregon court of appeals ruled against MERS when it overturned the lower court’s ruling. The court’s reversal of a lower judge’s decision negatively effects MERS role as the foreclosing party in the Niday … Continue reading

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