Posted by kevin on September 15, 2011 under Foreclosure Blog | 
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Almost every client that I interview has a story about how he or she was jerked around unmercifully by a servicer. Some servicers suggest that payments not be made so that the borrower can apply for a HAMP. Others “lose” paperwork more than once. Others take 7-8 payments instead of the required 3 and then deny a permanent modification.
Posted by kevin on August 3, 2011 under Foreclosure Blog | Comments are off for this article
The WSJ had an article yesterday about foreclosed homes in NYC with thousands of violations. It said that tenants are living in horrible conditions. The Pres of the NY Banker’s Association said that homes were actually owned by “lenders, not banks”
What up?
Posted by kevin on August 1, 2011 under Foreclosure Blog | Comments are off for this article
Settlements have been all over the lot in the last 12 months. About a year ago, we were starting to see reduction in principal in cases that were open for long periods of time because they were aggressively fought. It reinforced our position that the best way to stop foreclosure was to fight foreclosure. Then, the AG’s and federal regulators started pushing principal reductions. Some of the “too big to fail” banks balked, and then we stopped seeing “reduce principal” offers.
