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Tag: mortgage

Saturday Round-Up; Mortgage Debt Relief Extended?; NY Foreclosure Dismissed; Foreclosure Crisis in A Quilt

Bill extends Mortgage Debt Relief Act of 2007 I warned you earlier this month that if you’re considering a short sale, the time to get the ball rolling is now. That’s because the Mortgage Debt Relief Act, which was passed in 2007, is set to expire at the end of this year. If that happens you’ll have to pay taxes […]

Friday Round-Up; Budget Cuts Cripple Foreclosure Docket; Whistleblower Gets $18 mil; Stern Employees Settle

Fri Mar 16, 2012 by on Foreclosure Fraud

Clerks of court warn budget cuts will delay filings Just as I had predicted (and feared) now that the Florida legislature has passed a 7% budget cut to the state’s Clerk of Courts, officials from those offices are already warning of a major slowdown at courthouses across the state. Case filings may now take weeks instead of days. Hearings may […]

Foreclosure Settlement Filed; But Banks’ Crimes Go Largely Ignored

In the weeks after the mortgage settlement was announced by the Federal Government, I waited under baited breath to the see it in its entirety. Almost every week I read a different report stating the documents to finalize the settlement were about to be filed in court. And as each reported deadline came and went, I grew more and more […]

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 […]