WARNING: THERE ARE FIRMS CLAIMING TO OFFER THE REST REPORT THAT ARE NOT AUTHORIZED TO DO SO. CHECK MANDELMAN MATTERS BEFORE YOU BUY A REST REPORT, I WILL BE POSTING A LIST NEXT WEEK OF THE FIRMS AUTHORIZED TO OFFER THE REPORT. IF YOU’RE UNSURE ABOUT WHETHER THE FIRM YOU ARE TALKING TO IS AUTHORIZED [...]
Sally Herigstad, a contributor for Interest.com posted an article on “How to Fight Foreclosure.” She reports that only about 15% of homeowners that try to do it on their own succeed. Borrowers can spend months negotiating with customer service reps and documenting every aspect of their financial lives, only to have their requests abruptly denied. [...]
On Friday, October 1, 2010, Fannie Mae, as program administrator for the Home Affordable Modification Program (HAMP), plans to release the base Net Present Value (NPV) model v4.0 spreadsheet tool, which will include new input fields, changes to existing input fields, and new output fields. As stated in the HAMP Guidelines: A standard NPV Test will [...]
By E. Scott Reckard and Ronald D. White (Los Angeles Times) - Mortgage defaults soar to record 13% in the second quarter, the number of homeowners behind on payments or in foreclosure rose along with the jobless rate, with California among states leading the way. Widespread joblessness is causing more Americans to fall behind on their [...]
By Ben Rooney (CNNMoney.com) — Consumers struggling with credit card debt will start to see some relief Thursday as the first steps of the Obama administration’s industry overhaul go into effect. Read Article.
By Brian Louis (Bloomberg) — Mortgage rates for 30-year fixed loans fell this week to the lowest since May, reducing borrowing costs for hesitant buyers as signs show the recession-plagued U.S. housing market may be bottoming. Read article.
By Colin Barr (Fortune) - Texas bank hit by California dreaming. Bank regulators have a Texas-sized problem on their hands — though it’s easy to see much of the trouble resides farther west. Read article.
By Simon Johnson (The New York times) - The quick way to talk about how any economy is doing is in terms of “growth.” This is just what it sounds like — a measure of how much the total value of production in a country has increased in the last month, quarter or year. Read article.
By E. Scott Reckard (Los Angeles Times) - A borrower accuses Wells Fargo of slashing credit lines based on flawed automated software that exaggerated declines in property values. He seeks class-action status for the suit. Read article.