The December report of the Congressional Oversight Panel comes as no surprise to consumers and their attorneys; TARP may have prevented a bigger financial crisis for the United States but it has failed to stem the foreclosure crisis

No, the FDIC is NOT paying OneWest a bonus if they avoid loan modification. Despite the allegations of a recently circulated internet video, the FDIC agreement with OneWest Bank does not provide a financial incentive to encourage short sale rather than the modification of delinquent home loans. In fact, OneWest Bank is contractually required to [...]

I picked up two newspapers today and one said the housing market is coming around, and the other said foreclosures are up 15% from the same month last year.  The reality is the numbers don’t mean anything when people are losing their homes.  In January 2010, over 315,000 households in the United States received a [...]

As a mortgage foreclosure defense attorney, it really burns me up that homeowners are once again getting the short end of the stick.  There is a double standard going on in this real estate meltdown.  Lenders are telling homeowners that they have a “moral obligation” to pay their mortgages, and the failure to do so [...]

I am not the only blogger who bemoans the Administration’s feeble foreclosure prevention program.
The Huffington Post has an excellent story on the failure of HAMP, due to not getting the mortgage companies to voluntarily reduce the principal balances.
That is, to agree to lower the total amount owed on a house.
What happened is, the mortgage companies [...]

If you are lucky enough to get your mortgage company to offer a meaningful modification of your mortgage while you are in a Chapter 13, you probably can get the Trustee and the Court to agree to allow it. There are a number of issues, however, that need to be addressed.
Before modifying your mortgage you [...]

New trial period rules for HAMP modifications.

Given the difficulty that the lenders and servicers have in keeping track of the endless documents they request of homeowners seeking loan modifications, I’ve wondered about what would happen if a loan modification was really granted. How would institutions who can’t keep track of the payments you make or the papers you submit keep [...]

As a Florida foreclosure defense attorney who personally meets with 25 new distressed homeowners every week, I am often the second lawyer consulted about the foreclosure.  The first lawyer is usually a California lawyer promising a mortgage modification, and the outcome is always the same: My clients complain that they got absolutely nothing for their [...]

As a mortgage foreclosure defense attorney, I get asked quite a few questions about the foreclosure process. Fighting Foreclosure is one of the hottest topics in the legal world today.  The best part of fighting foreclosure is the great facts that we hear from our clients.  The best cases are the ones where the clients [...]