Category Archives: Foreclosures Short Sales Mortgage Litigation

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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10 reasons to still do a short sale this late in the game

The amount needed to pay off your existing loan is known as a short sale. While it isn’t the ideal situation for most homeowners, it can offer a better solution than foreclosure. Due to the housing crisis, many lenders are … Continue reading

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Stated Loans Make a Comeback

Preparing for the return of the jumbo lending market and the days when Fannie Mae and Freddie Mac are no longer mortgage finance behemoths, Rancho Financial is bringing to market loans often blamed for the destruction of the nation’s housing … Continue reading

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Foreclosures are down 50%, which means something

April 2012 Foreclosure Starts declined across our coverage area wiping out the small gains in new foreclosure filings last month. In California, Notice of Default filings are down 69.8 percent from the peak in March 2009, and 15.8 percent from … Continue reading

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Foreclosures Hold Steady

For at least the last six months or so, a lot of people were talking about a “new wave” of foreclosures threatening to smother the U.S. housing market in gloom once again. The reasoning was that because of the “robo-signing” … Continue reading

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Negative Equity Slow to Go Away

$715 billion is a lot of money. That’s the estimated amount of “underwaterness” hobbling the housing sector in the fourth quarter. A mortgage is considered underwater when the amount of the loan is larger than the value of the underlying … 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

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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

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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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