Mortgage Law Network

Lifetime batting average: .266
Home Runs: […]

Popularity: 19% [?]

Workouts for borrowers with defaulted home loans are a reality.  Unfortunately, it appears to be the small, specialized sub-prime loan servicers that understand the problem and have figured out how to best solve it.  Large lenders have yet to establish procedures for handing defaulted loans quickly and efficiently without resorting to foreclosure.
In an article I […]

Popularity: 25% [?]

As the whole world knows, Lee County, Florida is leading the nation in foreclosures. The cities in Lee County that are experiencing the highest foreclosure rate are Cape Coral and Lehigh Acres. According to the latest statistics, something like 1 in 86 homes in Lee County are in the foreclosure process, and not […]

Popularity: 43% [?]

A heated debate is growing nationally concerning whether the U.S. Government should step into the mortgage mess, and with true Government efficiency, provide help. The problems are obvious, and the solutions are not so easy. The borrowers come in many shapes and sizes, including those people who truly worked hard, saved their money […]

Popularity: 40% [?]

Maryland legislators touted changes to the Maryland foreclosure law adopted in the most recent legislative session, HB 365, as helping to protect homeowners against foreclosure. The Washington Post reported the adoption of this bill would provide “immediate assistance by extending the timetable of a foreclosure from 15 days to 150.” Sounds pretty good. But is […]

Popularity: 57% [?]

According to a recent article in Reuters, Many Mortgage Suits to Come, But Harder to Win, we can expect a number of class action lawsuits against those responsible for the subprime mortgage losses. Stanford Law School Professor Joseph Grundfest estimated that total investor losses resulting from the drop in stock prices and falling property values […]

Popularity: 50% [?]

Remember when you knew who held your mortgage, it was Bob at the local Savings and Loan. I remember going to the bank with my mom as a kid. She would chit chat with the teller after making a deposit, and I would get my savings account book stamped with this month’s interest, […]

Popularity: 50% [?]

Associated Press writer Alan Fram reports that 1 in 7 homeowners predict that they might not be able to make their mortgage payments. This is a shocking and dismal statistic that is ignored by our country’s leaders. Nothing is being done to help homeowners, PERIOD.
If you are a distressed homeowner, you are on your own […]

Popularity: 47% [?]

Fuelling the over-heated housing market a couple of years back was real estate investing, and the result today is a condo market where units are selling for half of what people paid for them in 2005. Anyone who purchased a condominium as an investment must have realized the potential to lose money, no matter how […]

Popularity: 63% [?]

Gretchen Morgenson and Jonathan D. Glater wrote an excellent piece in The New York Times which discusses the law firms that handle foreclosures for mortgage servicers.
These firms, known as “foreclosure mills,” crank out thousands of foreclosures every year, and the biggest mills may be illegally “kicking back” fees to the biggest default servicing company, Fidelity […]

Popularity: 63% [?]