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Monthly Archives: March 2012

Friday Round-Up — Bank Of America Makes Deal; Return of Rocket Docket?; Foreclosed Military To Receive Pay Day

Fri Mar 9, 2012 by on Florida Law News

Bank of America to Reduce Principal For 200,000 Underwater Homeowners First some good news, if you’ve got an underwater mortgage owned by Bank of America. BofA has come to a separate agreement with the US government to to help reduce some the fines it owes to the Housing and Urban Development Agency from last month’s huge settlement. Bank of America […]

House Flippers Getting Mortgage Relief? Obama Expands HAMP

Homes need to be occupied. That is the bottom line. Today’s housing market needs a dramatic overhaul and it’s been long overdue for a fix. So we don’t have the time to be contemplating moral hazards anymore. So I’m OK with President Obama extending mortgage assistance to owners of multiple homes. According to Bloomberg, the administration will open up the […]

Friday Round-Up; Still No Settlement; Schneiderman Looks at REMICs, Judge Loses Cancer Battle

Fri Mar 2, 2012 by on Foreclosure Fraud

Big Foreclosure Settlement Still Not Really, Truly, Finally Done And here we go again. Last month I wondered when we were going to see the documentation behind the ‘$25 billion’ mortgage settlement. Despite the massive action this settlement is now supposedly leading to, there didn’t seem to be a huge rush to get the deal finalized. The same day I […]

Thinking of Doing a Short Sale? Better Act Fast!

Thu Mar 1, 2012 by on Short Sales

It’s a great time to do a short sale. Banks have finally realized they have much more to gain by agreeing to a short sale rather than allowing a home to go through foreclosure.Data released by RealtyTrac today shows pre-foreclosure sales, which are often short sales, were up 15% in the fourth quarter of 2011. It’s easier than ever before […]