School isn’t the only thing that’s out for the Summer. As it turns out, loan and mortgage servicers are getting “schooled” by HUD this Summer. U.S. Dept. of Housing and Urban Development, HUD makes Distressed Asset Stabilization Program, DASP purchasers wait one year before playing in the foreclosure pool.
Well what do you know. Earlier this week I blogged about the mortgage settlement documents and their stunning lack of detail on the frauds committed by the banks during the days of robosigning. I was frustrated because it seems like the complete recklessness of the banks was being whitewashed in order for the settlement to go through. Turns out I […]
We really haven’t seen President Obama insert himself directly into the housing crisis, but there are rumblings that he may do just that during Tuesday’s State of The Union address. The fact is that is what homeowners have been clamoring for. A new USA TODAY/Gallup Poll found 58% of Americans want the government to do more to help people keep […]
Week In Review: Foreclosure Judge Slammed, Bank Settlement Close? and So. Fla. Housing Crisis in One Chart
Florida Homeowner Slams Judge Hearing 300 Cases In the absolutely-not-surprising-in-any-way file, one of the 300 homeowners who went before a Seminole County judge during a three day session this week thinks he was treated flimsily by the court. Blaize McMonagle told ABC News that Judge Alan Dickey sped through his case without being given the chance to defend himself. Dickey […]
Great news for real estate investors and flippers who were once restricted with the 90 day FHA anti-flipping regulations. Due to the increase in the volume of foreclosures over the past two years, the Department of Housing and Urban Development recently announced that they are waiving the 90 day flipping regulations in 24 CFR
It looks like mortgage servicers are going to woodshed for deliberately not modifying mortgages and allowing foreclosures to sore! its about time! Here is the letter that Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan sent to 25 mortgage-servicing firms last week: “We are writing to you as a participant in the Administration’s Making Home Affordable […]