Foreclosure....FREE RIDE: 3 Years !!!

Great  Story......

Source: CNN MoneyWednesday, December 28th, 2011, 10:58 am

Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.

Among the tactics: Challenging the bank's actions, waiting to file paperwork right up until the deadline, requesting the lender dig up original paperwork or, in some extreme cases, declaring bankruptcy.

Read the full story >>

Just like I've been telling folks for over a year now...

Dig in your feet & fight......

UN-FLIPPIN-BELIEVABLE ?!?!?!?

The CEO of Freddie Mac, Ed Haldeman, received a $2.3 million bonus, in addition to his $900,000 salary. Fannie Mae's CEO, Michael Williams, received a $2.37 million bonus.

"The executives got the bonuses about two years after the federally backed mortgage giants received nearly $170 billion in taxpayer bailouts…" [my emphasis] In August of this year, Fannie Mae reported a second-quarter loss of$5.2 billion. In November, Freddie Mac reported a third-quarter loss of $4.4billion.

Read the complete story at... http://realtytimes.com/rtpages/20111108_occupy.htm

How can this be happening ???

OUCH.....THIS HURTS !!!!!

Fannie wants more

Mortgage finance giant Fannie Mae said it would ask for an
additional $5.1 billion from taxpayers as it continues to suffer
losses on loans made prior to 2009. Including the latest funding
request, Fannie Mae has needed $104 billion in government capital
injections since the US Treasury seized control of it in 2008
during the financial crisis.

A post from Chris McLaughlin's Blog at .......

http://www.shortsalesriches.com

MORE Financing Options NEDED..

"Rental yields are high enough to entice some amount of private capital,
but financing for investor properties would certainly attract
more capital and cushion further home price declines," the agency
said in its Amherst Mortgage Insight report.

Amherst Securities believes 10.4 million homes are still at risk
of going into default after analyzing the number of loans that
are currently classified as non-performing, previously delinquent
and underwater. The tightening of underwriting guidelines also
is making it more difficult for investors and homebuyers to get
into the market to extract the access inventory. "It is
increasingly difficult to obtain a mortgage, thus shrinking the
pool of qualified applicants," Amherst wrote.

This news is from Chris McLaughlins site at ...

http://www.mclaughlinchris.com

WOW !!!!!

HUD owned about 69,000 homes at the
end of April and sold 11,000 homes in that month. Fannie and
Freddie held another 218,000 at the end of March.

YES...INVESTORS ARE SAVING US...

This week, attendees of the REO Expo default services conference
in Texas are talking all about how best to sell distressed and
often dilapidated properties.

That's why I think there should be more investor
incentives, because investors take the time to rehab, which in
turn allows them to sell these homes at a higher price, which
consequently improves overall home prices. Look, the banks, the
government, they need help, and investors are not the enemy
here."

(Quotes by Wells Fargo vendor network manager Kevin
Schriver)

I.ve been saying this same thing for a while now. I see it everyday as I search and put together deals on REO properties and talk with homeowners that are dangerously close to losing their homes.

What a shame. The Banks still continue to leave these families in high stress situations. Holding off until the last moment, then telling them, sorry...you're denied.

Then, the Banks put forward conditions to control the Investors! Are you kidding me. How do the Banks end up with the "say so" after being fully responsible for this downward spiraling market?????

No matter. The Banks are going to make the money while we commonfolks and consumers pay, pay, pay!!!!

Larry, Blog Author

SINGLE FAMILY MARKET ?????

FORECLOSURE SUPPLY DRAGS MARKET DOWN.....

According to a report from RealtyTrac, the online marketer of
foreclosed properties. Las Vegas has so many foreclosures that
53% of all the homes sold in Nevada are in some stage of
foreclosure. Foreclosures represent 45% of sales in California
and Arizona, and 28% of all existing home sales during the first
three months of 2011. What's more, the homes are selling at
steep discounts, especially so-called REOs, bank-owned homes that
have been taken in foreclosure procedures. The average REO cost
on average about 35% less than comparable properties, according
to RealtyTrac.

The author of this article is usually very accurate in his foresight.

Read more at ... http://www.smartrealestatenews.com/

FEWER FORECLOSURES in Last Quarter....

This is GREAT NEWS !!!!

Monday, April 4th, 2011, 7:51 am

Freddie Mac Chief Executive Officer Ed Haldeman said less than 4% of the government-sponsored enterprise's single-family home loans are at least three payments behind or heading into foreclosure.

Read more at........ http://www.housingwire.com/2011/04/04/less-than-4-of-single-family-loans-are-delinquent-freddie-ceo

Passed on to you by Larry Tutino

BANKS GETTING BEAT UP !!!!

It is unfortunate that the lawyers are getting paid by both sides (whats new?), but the Banks deserve this one. Read this great article by Harold Lear......

All foreclosure efforts on B of A and Chase homes involved in the suit are suspended.

Some of the nation's top trial lawyers have banned together and are secretly beating the banks. These are the lawyers who previously represented these very banks; the lawyers who -- for years -- have gone to Court and "ended the madness" for many clients; the lawyers who know their way around the courthouses better than anyone. Already, these lawyers have filed a mass joinder case in 2009 that remains pending against Bank of America (and Countrywide) and includes thousands of Californians. This case is now going national. These lawyers have invoked laws and procedures the banks were previously unaware of, and Bank of America is getting beat at their own game because of it. Two weeks ago, the Bank was forced to admit that it had been defrauding the government in foreclosing on mortgages nationwide. Furthermore, on October 4, 2010, the Honorable Manuel Real of the United States District Court called the Bank's primary argument "absurd" and kicked the Bank out of Federal Court. The case is now proceeding in the trial court, and the mass joinder of plaintiffs from around the Country is expanding. It may be that the Bank is unable to recover under any of their promissory notes, or that the Bank has made other errors that will cause other penalties to be levied against them.

Currently pending or contemplated to be file in the Superior Court of California, in the County of Los Angeles are the following cases: Bank of America, GMAC, JP Morgan/Chase, WaMu, Wells Fargo, Wachovia, OneWest Bank, IndyMac, Citibank and other lenders.

This is obviously excellent for homeowners but can also assist attorneys and loan modification companies as they can use the litigation as an escape from the loan mods.

As of 11/08 the attorney's have decided to offer this to the general public, as a result of my relationship with one of the law offices. I have been afforded the opportunity to assist in marketing this program. If you wish information regarding these stunning developments, or should you wish to be considered for involvement in this action, please call Harold Lear 858-945-1047, Client Relationship Manager

FYI: todate- 1 home free and clear and 9 NODs torn up by the court, all foreclosure efforts on B of A homes involved in the suit are suspended.


Please see link: http://mvipps.com/v-why.htmBy Harold Lear, Client Relationship Manager at Real Estate Solutions That Work

POSSIBLE SHORT SALE BLUES ??

Here is some very important info for Sellers and RE Agents regarding Short Sales!! From a sharp attorney I know.

Dear Larry,

I have been a part of the Joint Task Force between the Department of Financial Institutions (DFI) and the Washington State Department of Licensing (DOL) and after months of meetings we have created and provided two Guides for Real Estate Professionals working with Short Sales & Distressed Properties.

Please find attached copies of both important pieces so that you can review them, and see how they apply to your practice. If you have any questions on either piece, please don’t hesitate to call.

Regards,

Ed McFerran
Attorney At Law
McFerran, Burns & Stovall, PS
253.471.1200
www.mbs-law.com

2 attachments — Download all attachments

SHORT SALE GUIDANCE.PDF 322K View Download

SHORT SALE SELLER CONSUMER ADVISORY.PDF 198K View Download

the FEDERAL RESERVE sticks us again......

Many of you that saw my last Blog entry about my handsome boys have figured out that I love family! I care about every mans family.

That's why this Blog entry has me steaming. These guys, that operate the Federal Reserve helped cause millions of families to lose their homes! The big problem I have is that they made money while the homeowners lost money. Sure, many of them shouldn't have bought a home in the first place (according to their weak credit), but everyone NEEDS a home. Everyone does not need another million dollars in their account.

Check out this info I picked up from another smart Author. His name is...........
Jacob Gaffney, the editor of Housing Wire at...... http://www.housingwire.com/

"Today is a great day in mortgage finance to bury bad news. And if your government spent enormous resources helping foreign entities, now is the time to tell us. Apparently."

"By deluging the market with the information, it seems the Federal Reserve is helping to downplay the sad reality that it not only bailed out the big banks, but may have taken Europe along with it."

You see, these smart bankers figure to make a bundle of $$$$$ off the shifting currency markets.
Are you starting to get tired of hearing how the Private Federal Reserve Board once again has it's nose in the middle of another huuuuuuuge financial scandal?

If you work at the Federal Reserve and this Blog bugs you, then write me.

Larry T

COMBAT "REO" FRAUD

Finally...an Easy Way to Combat REO Fraud09.28.10, 12:30 PM EDT

I found this article on Forbes.com
A company that seems to have the same integrity as me. We are all very tired and ashamed of unscrupulous real estate agents taking advantage of Americans losses.

Click on the link below to learn more....
http://www.linkedin.com/news?viewArticle=&articleID=210718733&gid=106811&type=member&item=30908559&articleURL=http%3A%2F%2Fwww%2Eforbes%2Ecom%2Ffeeds%2Fglobenewswire%2F2010%2F09%2F28%2Ffinally_an_easy_way_to_combat_reo_fraud_202500%2Ehtml&urlhash=LU69

Thank you, Larry Founder of this Blog

FUTURE SUCCESS OR FAILURE ??

This Blog predicts SUCCESS!!

Cascadia project going to auction block

Pierce County’s largest planned community is in the hands of a bank, which will auction most of it today after foreclosing on the developer who worked on it for nearly 20 years without any of 6,000-plus planned homes to show for it.

• sellorbuyland 5 minutes ago

  Special Thanks to Mr Kuo for your vision and years of focused work. For helping to bring

  necessary Utilities and roads infrastructure to the community. A thanks also for John

  Ladenburg's grit and determination in taking on this COO task for a HUGE project that

  was already heading down the "economic toilet".

  
  Joe Public at times despises and scoffs the Visionaries that have the "webbles" to dream

  HUGE and then take action, especially if the project has a failure. But remember folks,

  thats how we got electricity. 100's of failures.
  
  Be patient Joe Public. In time, it will become much more crowded in and around Cascadia.

  Traffic, jobs, noise, upgraded utilities, Millions in taxes, etc.
  
  I tend to agree with people that believe more "natural scenic settings" should have been

  protected. Planners need to control stripping and overbuilding/density regulations. This

  problem alone, especially smaller lots, ads to the "cookie cutter" neighborhood problem.
  
  Larry at http://sellorbuyland.blogspot.com/

  
  

Read more: http://www.thenewstribune.com/2010/09/24/1354407/projects-demise-disappoints-region.html#disqus_thread#ixzz10nRfw5hY