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Mortgage Law Network 
Solution oriented information.
Post Frequency: 0.4/day Last Entry: February 15, 2011 at 19:26:59 Recent Entries: 105
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Threatened With Foreclosure? Hire a Lawyer!
Posted on June 10, 2009A homeowner threatened with foreclosure should talk to a lawyer, and do it right away. Talking to a experienced foreclosure defense lawyer immediately after receiving the first notice may pay large dividends. Despite a default in payment homeowners often have defenses under state or federal law...
Investigation of Foreclosure Law Firms Continues
Posted on June 09, 2009Connecticut’s Attorney General, Richard Blumenthal, is continuing to press his investigation of three law firms who appear to file more than 90% of all the foreclosures in the state. Together, the law firms file more than 2,000 foreclosures per month in Connecticut...
Can Obama?s Mortgage Modification Program Save Your Home?
Posted on June 09, 2009The Home Affordable Mortgage Modification Program called HAMP, and the companion home refinance program (HARP) applicable to loans held or securitized through Fannie Mae and Freddie Mac, are touted by the Obama Administration as having the potential to help up to nine million homeowners...
Mortgage companies scrambling to meet new Truth in Lending requirement
Posted on June 08, 2009An over-looked Truth-in-Lending Act rule that goes into effect July 30, 2009 has mortgage companies scrambling. The new rule requires timely delivery of the good faith estimate on home purchases, refinancings, and home equity loans. Applications taken after July 29th require lenders to deliver the good faith estimate “GFE” to the borrower within three business [...
Bank Loan Modifications and FDIC Traps For the Unwary
Posted on June 02, 2009A couple common scenarios could combine these days to harm consumers if they are not prepared for them. Borrowers trying to get reasonable mortgage modification arrangements should be wary of their lenders being taken over by the FDIC also. Many mortgages are held as part of a bank’s portfolio...
Compare the cost of renting to the cost of buying a home.
Posted on May 29, 2009A recent Wall Street Journal article concludes that homeownership has not been a particularly good investment. According to article, the rate of return on residential real estate has been much less than the rate of returns on even a safe investment like a treasury bill taking into account rates of return over the past 20 [...
South Carolina Supreme Court Establishes HAMP Procedure
Posted on May 28, 2009The South Carolina Supreme Court has issued an administrative order that establishes a procedure which delays foreclosure sales in pending cases until HAMP applications can be processed where the mortgage is subject to HAMP, requires lenders to notify the court when HAMP applies in new cases, and allows foreclosure to proceed where loans are not [...
You CAN defend against your mortgage foreclosure
Posted on May 28, 2009If you are facing mortgage foreclosure, your best defense can be a good offense. Mortgage lenders who file foreclosure cases count on you to do nothing. They count on you to ignore their complaint. They count on you to default. That way, they can easily go to court and get a foreclosure judgment without having [...
Foreclosure Defense Limited in Connecticut
Posted on May 28, 2009Connecticut is a Judicial foreclosure state meaning that a foreclosure must take place in the context of a court proceeding. It is also one of only two states that recognizes the old English rule of Strict Foreclosure. Despite the setting of a court proceeding, Connecticut Rules of Practice (civil procedure rules) limit defenses in a [...
Short Sales In Florida Part I
Posted on May 27, 2009One of the most common topics that I am asked about on a daily basis is the short sale: Can I short sale my property? Doesn’t it look better on my credit report to short sale the property? Can I short sell the property to a relative? What is the difference between a short sale [...
What is Strict Foreclosure?
Posted on May 27, 2009There are two states in the United States that follow the old British practice of ’strict foreclosure’ - Vermont and Connecticut. Strict foreclosure will be ordered by a court in a foreclosure proceeding when there is little or no value to be recognized for the homeowner if the property were to be auctioned...
Don?t Spend the Equity in Your House
Posted on May 26, 2009Do you have any equity left in your house? If you are one of the lucky ones who do, the temptation to pull out what little value left in your home may be great. You may have lost income or some bills have grown to large to manage. But resist the urge to refinance now [...
Resist the Offer of a Debit Card That Draws on Your HELOC
Posted on May 25, 2009Lenders have come up with a lot of products that have turned out to be bad news for consumers-exploding ARMS, payment option loans, just to name a couple-but the one I heard about this weekend may have far greater negative potential for consumers than any of the others...
Is It Really A Good Time to Refinance?
Posted on May 24, 2009Or stated another way; “Does a rate reduction help your finances?” Not all refinances are a good idea. Even a refinance solely to reduce your interest rate can be a losing proposition. You have to consider how long it will take to recover the cost of a refinance...
BankUnited Fails - What does that mean to you?
Posted on May 22, 2009BankUnited is suing quite a few of my clients. We are fighting back. BankUnited, located in South Florida, was a leader in the use of Option ARMS. These mortgages were among the worst of the predatory toxic loans we have seen. One of my clients is an elderly man who received this horrible loan shortly [...
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Two Homes, Two Mortgage Contingencies, Two Loan Applications, but only One Loan, Who Wins?
Topic: Real Estate Transactions The Appeals Court of Massachusetts...
TWO HOMES, TWO MORTGAGE CONTINGENCIES, TWO LOAN APPLICATIONS, BUT ONLY ONE LOAN, WHO WINS?
Topic: Real Estate Transactions The Appeals Court of Massachusetts...
Filing Date is What Matters When Determining Parties to Name in Mortgage Foreclosure
When a lender makes the decision to foreclose on its borrower̵...
Homeowners Have Added Protection Against Mortgage Fraud
Albany, NY: The Governor of New York, Eliot Spitzer, is an advocat...
Qualifying for a Mortgage
Here's the formula banks use to determine how much mortgage you ca...
Whats a Home Loan Modification?
How to Qualify for a Home Loan Modification
Home Mortgages
What to look for
Must I refinance my house aftering taking full ownership after a divorce via a quit claim?
When financing there are at least two documents...the mortgage and the note. The...
My house has bee sold at a sheriff sale the proceeds of the sale covered the first mortgage. Am i still required to pay the second mortgage?
You are indeed still responsible for the home loan that was not paid through the...
Does a Chapter 7 bankruptcy discharge a secured mortgage loan?
Yes if you file they cannot sue you to the knowledge I know. My brother is in re...
I financed a house and let my son and his family move into it. He was to make the payments on the house until he could avoid to buy the house from me at the price of the remaining principle on the mortgage. He has lapsed
In most jurisdictions, availing yourself of "self help" to evict occup...
How can a bank charge extra fees however refuse to give a reciept for the extra amounts?
Hello,
The only way a bank could charge a fee during the loan payof...
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Must I refinance my house aftering taking full ownership after a divorce via a quit claim?
When financing there are at least two documents...the mortgage and the note. The...
My house has bee sold at a sheriff sale the proceeds of the sale covered the first mortgage. Am i still required to pay the second mortgage?
You are indeed still responsible for the home loan that was not paid through the...
Does a Chapter 7 bankruptcy discharge a secured mortgage loan?
Yes if you file they cannot sue you to the knowledge I know. My brother is in re...
I financed a house and let my son and his family move into it. He was to make the payments on the house until he could avoid to buy the house from me at the price of the remaining principle on the mortgage. He has lapsed
In most jurisdictions, availing yourself of "self help" to evict occup...
How can a bank charge extra fees however refuse to give a reciept for the extra amounts?
Hello,
The only way a bank could charge a fee during the loan payof...
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