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Help Im Losing My Home

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...your foreclosure prevention resource

We are a CA based law firm specializing in loan modifications and bank negotiations. We are extremely well versed in the new programs that will be instituted by the government in the following months and will vigorously implement them in an attempt to resolve your particular situation. The foreclosure process is complex and often unforgiving. We have the skills necessary to ensure that your rights are protected. We hope that the information you find below will help you. We can also be found on the web at www.helpimlosingmyhome or alternatively you can reach us at 1-888-HELP-950

Help I'm Losing My Home Files

Real Customers Real Foreclosures

We thought it would be a good idea to actually list a couple of loan modifications as they progress so that people could actually see one as it unfolds. Look for updates every couple of days. Hope this helps in your negotiations.

7/02/09 - Our first update is here! Sorry to keep you guys waiting. More to come, stay tuned for our next sample client who is came to us as a informed Squidoo member!

Client Sample #1 - Herlinda

Help Files is Now Active!! Thanks for Waiting.

This is the first sample Help I'm Losing My Home loan modification which began in May and is still ongoing. Details provided by our resident loan modification expert Matt Drag, who has been handling Herlinda's case. Thanks Matt for your notes!
  • 5/04/09 letter of authorization faxed to Countrywide
  • 5/06/09 called Countrywide to verify letter of authorization ("LoA") was received
  • 5/07/09 called back a second time and verified everything was all set
  • 5/08/09 called CountryWide to send over documents, was told needed to verbally verify financial information before sending documents over
  • 5/11/09 called Countrywide to verbally verify financial information, was told from now on to email Bank of America
  • 5/13/09 email financial documents to Bank of America
  • 5/15/09 verified that email was received, but took a week of documents to actually show in database
  • 5/26/09 Bank of America asked to follow up every week, the process can take up to 2-3 months
  • 6/04/09 trial payment package received from Bank of America
  • 6/30/09 reviewed and signed by Herlinda

Client Sample #2 - Dawn Dishong

Help Files' Second Sample is a Squidoo Native!

This is the second sample Help I'm Losing My Home loan modification which began in March and is still ongoing. This particular case was handled by the saavy young attorney Zach Alpern. Thanks Zach for your notes!
  • 3/02 - spoke to Dawn Dishong
  • 3/17 - spoke to Chase and attempted to find out who and what phone numbers to use to contact about loan modification
  • 3/17 - called Chase Subprime Department and faxed LoA to Chase.
  • 3/17 - was told 48 hours required before verification of receipt
  • 3/23 - called to verify LoA and was told it did not show that LoA was on file so re-faxed the LoA multiple times.
  • 3/24 - called to verify LoA, still no LoA showing
  • 3/26 - LoA still not showing in Chase records but faxed documents in anyway
  • 4/08 - all documents sent in
  • 4/15 - loan modification declined
  • 5/01 through 6/15 - Chase did not have modification available at the time.
  • 6/22 - spoke to Chase loan modification department
  • 6/23 - got LoA straightened out
  • 6/26 - nice rep at Chase spoke of tentative trial package available to borrowers
  • 6/30 - spoke to Amanda at Chase, hashed out agreement
  • 7/06 - waiting for loan modification to be Fedex-ed to us

Actions Speak Louder Than Words - Don't Let the Banks Fool You

Have Kagianaris Lew, LLP, Contact the Banks Directly - With Results!

Tough workouts - Sue Wright - Las Vegas Nevada
Lenders all say they want to help mortgage borrowers stay in their homes. But when homeowners contact lenders in search of mortgage modifications, they often find getting help very difficult. Here are some stories from readers who struggled to find solutions.

Help I'm Losing My Home: Sister Websites

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Kagianaris Lew, LLP

Kagianaris Lew, LLP is located in the CNN Building on Sunset and Cahuenga in the heart of Hollywood.

News: What's Happening Now?

The most pertinent articles with comments for your consideration.

CA State Moratorium on Foreclosures
This is a very interesting article regarding CA state moratorium on foreclosures. It attempts to give a 90 day respite to borrowers in danger of foreclosure. Although it appears to be a step in the right direction it allows the loan servicers multiple exemptions to the moratorium.

If you're in danger of foreclosure it may be a useful tactic to demand that the loan servicer demonstrate adherence to this moratorium and or why they are exempt from it.

This is not legal advice. Please consult an attorney in your particular state. For a free consultation you may call Kagianaris Lew, LLP, CA based attorneys at 323.467.7227. Thank you.
Obama Foreclosure Fix Open For Business
Obama Foreclosure prevention plan is officialy underway.

"Servicers will receive $1,000 for each loan modified, as well as additional annual bonuses if borrowers keep up with payments. Investors will receive one-time $1,500 incentive payments for restructuring qualifying loans that are not yet delinquent. Finally, borrowers who keep up with their new payments will receive up to $1,000 a year in principal reduction, for up to five years."

This is definetely a step in the right direction. Unlike other statewide and nationwide measures this plan not only provides incentives for the loan servicers and investors but also broadens eligibility criteria for borrowers.
Help Im Losing My Home Update
Interesting article regarding a bill that would allow bankruptcy judges to erase some mortgage debt for troubled homeowners and shield mortgage servicers modifying loans from bondholder lawsuits.
Independent Advisors Say the Recession will Wnd in Two Years
Article regarding the recession and when it will end:

"With the Dow Jones Industrial Average and the S&P 500 Index at 12-year lows, the number of financial advisors who are looking to invest more capital in the perceived safe-haven of the fixed income asset class has more than doubled."
Can You Get a Bargain with a Short Sale?
Check out this article regarding short sales. We cover the process fairly thoroughly at www.helpimlosingmyhome.com

To read more about short sales and find out if its something that may interest you read the below link
Should Judges be able to Modify Mortgages?
The Obama administration's plan to stem the housing crisis depends on Congress amending the bankruptcy laws to allow judges to modify mortgages. But that proposal is running into opposition in Congress.

1. Traditional Loan Modification Process

ABC's of loan modification

Loan Modification
Loan Modification - Utilizing the existing mortgage company to refinance the debt or extend the terms of the loan. This may allow the homeowner to catch up at a more affordable level if they qualify.

Difficulties paying your mortgage and can't obtain other financing alternatives? You must show the lender why it would be in the lender's best interest to agree to a workout arrangement. If convinced, a lender may be willing to reduce the loan interest rate, reduce monthly payment amounts or change other loan terms.

A loan modification generally occurs where the parties to a problem loan mutually agree to workout the problem by creating new and better loan terms. The hope is that the new loan will enable to the borrower to meet their obligations.

When applying for a loan modification, make a game plan on how exactly you are going to approach them. These people are trained in minimizing loss for their company and they get paid to by getting the most amount of money out of you as possible or declare that your case is un workable and foreclose on you. That is how they mitigate loss. If you understand this, then you'll know that you have to approach them and all conversations very carefully. Everything can and will be used against you.

Items You Will Need When Applying For a Loan Modification:
Document income and expenses. Keep all correspondence (even the envelopes) Before negotiating a deal, gather all the information you need, starting with any correspondence from your lender. That includes anything that you have unopened from the lender. Don't throw away envelopes from the servicer -- postmarks sometimes can make the difference between being eligible or ineligible for relief.

Collect everything that relates to income and expenses. Find your last four pay stubs. They want to see at least one month of income. If your income is very sporadic, the support your story by showing how you're getting paid so we can calculate an average over time. Gather at least three years worth of W2s and tax returns, plus three to six months of bank statements. Find all the mortgage paperwork and add that to the file. Pull together all bills, paid or not, from the times you were falling behind on the house payments until now. Include utilities, auto payments, credit cards, student loans, child support, medical bills. Find the winter and summer heating and cooling bills. You need to also include everything that documents why you fell behind. An employer's notification of reduced hours or a layoff, an invoice for an auto repair or a furnace replacement, a shutoff notice from a utility.

What to Do When You Call Your Lender:
Your lender has two platoons of employees who talk with delinquent borrowers. The first is the collections department, which consists of people who try to pry money out of you and get you current on the payments. The second group consists of the loss mitigation specialists. These departments go by different names, depending on the servicer, including foreclosure prevention, loan resolution and delinquency customer service. We'll use the most common name for the department: loss mitigation, or loss mit. It can be difficult to get through to the loss mitigation department if collection agents are discouraged from transferring calls. This is one of the benefits of having a helper, such as an attorney or a housing counselor. The first will intimidate bill collectors and the second might have contacts within the loss mit department.

The trick with any bank and getting a work out done is learning to navigate their phone system so as to increase your chances of getting a live person. Over the years I've learned some tricks that help, sometimes you hear options that you know will lead to a person like when it says "to speak to a representative press ___" but sometimes they don't give you these options (cricket wireless is the worst at this) so you have to think, what options WOULD get a live person. For example often anything that involves new clients signing up will get a live representative...because they always want new business. You have to be a little savvy though, you can't just tell the sales guy you called them so you could get a warm body to answer the phone!

Once you get a live person, you want to be working your way up to a decision maker. This is sometimes harder to do for a homeowner than a 3rd party. Often with the homeowner they get stonewalled at the first level, and sadly the first tier in Loss Mitigation is really a glorified collections department. They are paid hourly employees who have very little if not zero motivation to go the extra mile and help you get some needed comfort and relief while resolving your problem. Often they just compound the problem by being rude and demanding, telling people things like "just pay your bills". So it's essential that you get beyond these people and to a specialist.

Sometimes to get to this point you have to put up with the hourly employee's through a process of filling out their forms and information. Providing them with items such as pay stubs, tax returns and a whole host of financial information. Once everything is provided, then some lenders will assign the file to someone higher up in the loss mitigation department.

The MOST crucial element to this whole process is your Budget and if you have done your due diligence, you'll be ready. They will ask you for a detailed list of your monthly expenses. If it's too tight, you may not get approved, if you have too much extra income you are going to have an outrageous payment plan. Don't agree to it!

2. New Loan Modification Technique

"Produce The Note Strategy" To Stop Foreclosure

A very interesting technique is now being employed across the country to stop and or delay the lender in foreclosing on your property. The "Produce the Note" strategy will force your lender or servicer to prove they have the right to foreclose on you. The precise implimentation of this strategy will vary depending on whether or not your particular state is a judicial or non-judicial foreclosure state. In a non-judicial state such as CA the homeowner will have to file a lawsuit against the party trying to foreclose. the website consumerwarningnetwork.com has a pretty thorough explanation of the process outlined as follows

Here's how it generally works:

In a state with nonjudicial foreclosure procedures, a foreclosure sale can be initiated by the lender without using court proceedings.
Homeowners receive a "Notice of Intent" letter informing them that a foreclosure sale will be scheduled unless the overdue debt is paid within a certain amount of time.

If the debt is not paid accordingly, a "Notice of Sale" is then sent informing the homeowner that a foreclosure sale will take place at a particular time and place.
No lawsuit is ever initiated by the lender and the courts are not involved.
Without a lawsuit, you cannot use judicial procedures to require the lender to "produce the note."

Merely sending a private letter to the lender "demanding" that it produce the original note to the borrower may be met with utter disregard or outright refusal by the lender.

So, here's what you can do:

In a nonjudicial foreclosure state, in order to protect yourself by demanding that the lender "produce the note," it will be necessary for you to first actually file your own lawsuit. Even in such nonjudicial foreclosure states, no law prohibits you from instituting your own lawsuit challenging the right of a lender to foreclose on your property. The lawsuit would allege that:
the lender has sent a Notice of Intent to Foreclose;
the homeowner is unsure as to whether the lender still possesses the original debt instrument, upon which the lender claims the right to foreclose;
the homeowner wants proof of such authority; and
the court should intervene and prevent the foreclosure from taking place unless and until such proof is presented.
Initiating litigation to protect your rights is never a simple process. Requirements as to what must be contained in a pleading, how the facts must be plead, who should be named in the pleading, and how the pleading should be officially "served" on the lender, all differ from state to state.
Once a lawsuit is initiated, however, all states have judicial procedures that allow a party to require the other side to produce relevant documents, and the "produce the note" strategy can be used.
Often times, the best way to protect your rights in these situations is to seek professional help from an attorney licensed to practice in your geographical area. Getting involved in a lawsuit by representing yourself, especially if you file the lawsuit yourself, is not easy, but you can do it. Every citizen is able to represent themselves and file a lawsuit on their own. It's called pro se, which means "on ones own behalf."

If you can afford a lawyer, then by all means, hire one. There are attorneys who specialize in real estate matters, and either advertise or can be found in the yellow pages. Most areas have bar associations that maintain lists of attorneys willing to help in specific areas of the law.

Finally, there are usually "legal aid" organizations around set up to assist individuals who may have difficulty paying for the services of an attorney. A good place to begin your search is by going to the Legal Services Corporation website.

So, even if you are in a non-judicial foreclosure state, you can use "Produce the Note." This is your home, and if you want to fight for it, you do have a way.

3. California Specific Loan Modification F.A.Q.

Explanation of the Forecosure Process in California Through Frequently Asked Questions

How are mortgage liens treated in California?
California is known as a title theory state where the property title remains in trust until payment in full occurs for the underlying loan. The document that secures the title is usually called adeed of trust but may also be referred to as a mortgage. California has a complicated set of rules concerning foreclosures and alternate rules for foreclosures; it is generally a consumer friendly state.

How are California mortgages foreclosed?
The primary method of foreclosure in California involves what is known as non-judicial foreclosure. This type of foreclosure does not involve court action. When the deed of trust is initially signed, it will usually contain a provision called a power of sale clause, which upon default allows atrustee to sell the property in order to satisfy the underlying defaulted loan. The trustee acts as a representative of the lender to effectuate the sale, which typically occurs in the form of an auction. Unlike many states where trustees are appointed by lenders, title companies primarily serve as trustees managing foreclosure sales in California. California has a requirement known as the one-action rule. If a foreclosure is completed by non-judicial means, a second action to recover a deficiency judgment is not permitted. Using a judicial foreclosure, a lender may recover a deficiency judgment in certain circumstances. But since this process takes longer than non-judicial foreclosure, it is rarely used. California non-judicial remedies have stringent notice requirements and the mortgage documents are required to contain thepower of sale language in order to use this type of foreclosure method.Judicial foreclosure are permitted in California and these usually occur when nopower of sale language is included in the loan documents.

Power of Sale Notice Requirements:
A notice of default is recorded after a default occurs in the county in which the property is located. This does not necessarily occur after one or more payments are not met but for logistical reasons may occur after a loan is in substantial default - sometimes six months or more past due. This is known as the redemption period. The foreclosure process does not move forward for a minimum of 60 days. A notice of sale containing the name and address of trustee, certain disclosures (including that the property is about to be lost to foreclosure sale), the name of the beneficiary, and other information must be recorded in the county in which the property is located at least 14 days before any foreclosure sale after that time period. This is known as the publication period.
The borrower must receive a twenty (20) day notice before any foreclosure sale, further notice of the foreclosure must: (a) mailed to the defaulting borrower (and other creditors whose liens affect the property) and; (b) be posted at the property being foreclosed upon and in a public place in the county where any sale would occur. The defaulting borrower may prevent the foreclosure sale by paying all arrearages up to five (5) days before the sale. The trustees' foreclosure sale then occurs at the earliest twenty one (21) days after the first publication.
Foreclosure sales must take place on any business day between the hours of 9AM and 5PM and must occur at the location referenced on thenotice of sale. The trustee will auction the property to the highest bidder, including the lender. The borrower is permitted to postpone the sale for one (1) day.
In California, the lenders can also go to court in what is known as ajudicial foreclosure proceeding where the court must issue a final judgment of foreclosure. If thedeed of trust does not contain thepower of sale language, the lender may seekjudicial foreclosure. The property is then sold as part of a publicly noticed sale. A complaint is filed in county court along with what is known alis pendens. Alis pendens is a recorded document that provides public notice that the property is being foreclosed upon.

What are the legal instruments that establish a California mortgage?
The documents are known as thedeed of trust,note, and in a commercial transaction, asecurity agreement. Sometimes the mortgage document is combined with thesecurity agreement. Alternatively, amortgage is filed to evidence the underlying debt and terms of repayment, which is set forth in thenote.

How long does it take to foreclose a property in California?
Depending on the timing of the various required notices, it usually takes a minimum of 120 days to effectuate an uncontested non-judicial foreclosure. This process may be delayed if the borrower contests the action in court, seeks delays and adjournments of sales, or files for bankruptcy.

Is there a right of redemption in California?
California has a complicated statutory right of redemption after the foreclosure sale has occurred, which would allow a party whose property has been foreclosed to reclaim that property by making payment in full of the sum of the unpaid loan plus costs one (1) year after foreclosure sale unless the original lender made a full price bid then that period is shortened to three (3) months. A borrower does have ninety (90) days after the recordation of anotice of default to cure any default and this is commonly referenced as the redemption period although it is not a true statutory redemption. Junior lien holders cannot redeem. There is no statutory right of redemption if a deficiency judgment is waived or prohibited at the time of which effectively negates any possibility of a redemption occurring in the scenario noted above.

Are deficiency judgments permitted in California?
Only in certain circumstances. A deficiency judgment may not be obtained when a property in foreclosure is sold through a non-judicial public sale or if the foreclosure relates to a purchase money mortgage. Different rules apply to guarantors of such loans.

What statutes govern California foreclosures?
The laws that govern California foreclosures are found in California Civil Code, Section 2924.

Fair Credit Reporting Act

Some helpful information on the Fair Credit Reporting Act.
Fair Credit Reporting Act - Wikipedia, the free encyclopedia
The Fair Credit Reporting Act (FCRA) is an American federal law (codified at 15 U.S.C. § 1681 et seq.) that regulates the collection, dissemination, and use of consumer credit information.
The Fair Credit Reporting Act
(as amended May 22, 2009) [PDF]
Fighting Fraud with the Red Flags Rule
The Red Flags Rule requires many businesses and organizations to implement a written Identity Theft Prevention Program designed to detect the warning signs â%u20AC" or "red flags" â%u20AC" of identity theft in their day-to-day operations.
Consumer Reporting Agency TALX Corp. Agrees to Settle FTC Charges
TALX Corporation, a subsidiary of Equifax Inc., has agreed to settle Federal Trade Commission charges that it violated federal law by failing to provide certain disclosures to users of their consumer reports and to entities that provide information for consumer reports. The proposed settlement requires TALX to pay a $350,000 civil penalty and bars future violations.

A Summary of Your Rights Under the Fair Credit Reporting Act

The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a summary of your major rights under the FCRA.
  • You must be told if information in your file has been used against you. Anyone who uses a credit report or another type of consumer report to deny your application for credit, insurance, or employment - or to take another adverse action against you - must tell you, and must give you the name, address and phone number of the agency that provided the information.
  • You have the right to know what is in your file. You may request and obtain all the information about you in the files of a consumer reporting agency (your "file disclosure"). You will be required to provide proper identification, which may include your Social Security number. In many cases, the disclosure will be free.
    You are entitled to a free file disclosure if:
    1 A person has taken adverse action against you because of
    information in your credit report;
    2 You are the victim of identify theft and place a fraud alert in your
    file;
    3 Your file contains inaccurate information as a result of fraud;
    4 You are on public assistance;
    5 You are unemployed but expect to apply for employment within
    60 days.
    In addition, by September 2005 all consumers will be entitled to one free disclosure every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies. See www.ftc.gov/credit for additional information.
  • You have the right to ask for a credit score. Credit scores are numerical summaries of your credit worthiness based on information from credit bureaus. You may request a credit score from consumer reporting agencies that create scores or distribute scores used in residential real property loans, but you will have to pay for it. In some mortgage transactions, you will receive credit score
    information for free from the mortgage lender.
  • You have the right to dispute incomplete or inaccurate information. If you identify information in your file that is incomplete or inaccurate and report it to the consumer reporting agency, the agency must investigate unless your dispute is frivolous. See www.ftc.gov/credit for an explanation of dispute procedures.
  • Consumer reporting agencies must correct or delete inaccurate, incomplete or unverifiable information. Inaccurate, incomplete or unverifiable information must be removed or corrected, usually within 30 days. However, a consumer reporting
    agency may continue to report information it has verified as accurate.
  • Consumer reporting agencies may not report outdated negative information.
    In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old.
  • Access to your file is limited. A consumer reporting agency may provide information about you only to people with a valid need - usually to consider an application with a creditor, insurer, employer,

HOPE For Homeowners ACT

HOPE For Homeowners Act - Summary

Summary of the "HOPE for Homeowners Act of 2008"

The "HOPE for Homeowners Act of 2008" creates a new, temporary, voluntary program within FHA to back FHA-insured mortgages to distressed borrowers. The new mortgages offered by FHA-approved lenders will refinance distressed loans at a significant discount for owner-occupants at risk of losing their homes to foreclosure. In exchange, homeowners will share future appreciation with FHA.

The program is built on five principles:

1. Long-term affordability. The program is built on the idea, expressed by Federal Reserve Chairman Bernanke, that creating new equity for troubled homeowners is likely to be a more effective way to avoid foreclosures. New loans will be based on a family's ability to repay the loan, ensuring affordability and sustainable homeownership.

2. No investor or lender bailout. Investors and/or lenders will have to take significant losses in order to benefit from the proceeds of the loans refinanced with government insurance. However, these losses would be less than the losses associated with foreclosure.

3. No windfall for borrowers. Borrowers will share their new equity and future appreciation equally with FHA. Borrowers will pay for the FHA insurance.

4. Voluntary participation. This will be a voluntary program. No lenders, servicers, or investors will be compelled to participate.

5. Restore confidence, liquidity, and transparency. Credit markets are fearful and frozen in part because banks and other financial institutions do not know what their subprime mortgages and related securities are worth. The uncertainty is forcing lenders to hoard capital and stop the lending necessary for economic growth. This program will help restore confidence and get markets flowing again.

Program Oversight. The new program will be overseen by a Board made up of the Secretary of HUD, the Secretary of the Treasury, the Chairman of the Federal Reserve Board, and the Chairman of the Federal Deposit Insurance Corporation (FDIC). The Board will have the authority to develop standards within the framework of the legislation.

Eligible Borrowers. Only owner-occupants who are unable to afford their mortgage payments are eligible for the program. No investors or investor properties will qualify. Homeowners must certify, under penalty of law, that they have not intentionally defaulted on their loan to qualify for the program and must have a mortgage debt to income ratio greater than 31 percent as of March 1, 2008. Lenders must document and verify borrowers' income with the IRS.

New Loan Amount. The size of the new FHA-insured loan will be lesser of the amount the borrower can afford to repay, as determined by the current affordability requirements of FHA; or, 90% of the current value of the home. Loans must be 30-year, fixed rate loans.

Equity & Appreciation Sharing. In order to avoid a windfall to the borrower created by the new 90% loan-to-value FHA-insured mortgage, the borrower must share the newly-created equity and future appreciation equally with FHA. This obligation will continue until the borrower sells the home or refinances the FHA-insured mortgage. Moreover, the homeowner's access to the newly created equity will be phased-in over 5 years.

Eligible Mortgages. In order to protect against adverse selection, the program prohibits the Secretary from paying an insurance claim whenever the representations and warranties required to be made by lenders are violated, or in cases in which a borrower has an early payment default and misses the first payment.

Existing Subordinate Liens. Before participating in this program, all subordinate liens must be extinguished. This will have to be done through negotiation with the first lien holder.

Qualified Safe Harbor. The legislation provides servicers with an incentive to participate in the program by offering a safe harbor against legal liability.

Program Size. The program is authorized to insure up to $300 billion in mortgages and is expected to serve approximately 400,000 homeowners.

Program Sunset. The program will begin October 1, 2008 and sunset on September 30, 2011. CBO say the program will net nearly $250 million for taxpayers.

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Thanks to several programs from Uncle Sam, you could receive thousands of dollars by investing in a number of energy-conserving home improvements.
Mortgage modifications are happening. Get yours - May. 8, 2009
Mortgage modifications are happening. Get yours
New home sales little changed in April - May. 28, 2009
Sales of newly constructed homes edged up very slightly in April from a downwardly revised read the month prior, according to a government report released Thursday.
US regulator sounds alarm about reverse mortgages - Jun. 8, 2009
Reverse mortgages could be the next subprime mortgage product to experience rapid growth while taking advantage of a vulnerable segment of the population, top U.S. bank regulator John Dugan said Monday.
Where does your state rank? - Jun. 8, 2009
Map of USA shows where the states rank in foreclosures, unemployment rate and state budget deficits.
Builders See Signs of Stabilization - Jun. 8, 2009
Home builders Toll Brothers and Hovnanian posted smaller losses amid signs of stabilization in the housing market.
Refinancing Boom Aids Lenders - Jun. 9, 2009
The refinancing boom has been good to mortgage lenders. Banks' profits on mortgage originations jumped in the first quarter.
Rent-to-own your home: Pro and con - Jun. 10, 2009
Rent to own deals trending up
Mortgage rates soar, 30-year fixed at 5.65% - Jun. 11, 2009
Home mortgage rates jumped in the most recent week, the average 30-year fixed rate rising to 5.65%.
Mortgages Climb Past 5.5% - WSJ.com
Home-mortgage rates took another leap this week, bringing the average rate on a 30-year fixed-rate mortgage to its highest in seven months, Freddie Mac reported Thursday.
Appraisals Roil Real Estate Deals - June 15, 2009
Lenders burned by huge losses from defaults now are pressing appraisers to be more conservative.
California foreclosure moratorium- creating waves
Will the lenders lose their borrowers or will the borrowers lose their homes? The California foreclosure moratorium is making a conscious effort to support the house owners who have bought houses on loans and have been unable to make timely paym
Higher Mortgage Rates Sap Builder Confidence - Jun. 20, 2009
Confidence faltered in June among U.S. home builders, who were left uneasy by a rise in mortgage rates.
Rising U.S. mortgage rates sap loan applications - Jun. 21, 2009
A spike in U.S. mortgage rates drove down total home loan applications last week as demand for refinancing shriveled to the lowest level since November, the Mortgage Bankers Association said on Wednesday.
Existing home sales rise 2.4% in May - Jun. 23, 2009
Existing home rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers.
$6 billion in federal money ready for buying foreclosures - Jun. 23, 2009
Making sweet foreclosure deals even better
Mortgage rates retreat - 30-year slips to 5.76% - Jun. 25, 2009
Home mortgage rates sank sharply last week, retreating from a run-up, with the average 30-year fixed rate slipping to 5.76%.
Economy, Housing Will Rise Together - June 29, 2009
The U.S. economy won't regain its strength until the price of houses stops falling. And that day hasn't yet arrived.
5 steps to selling your home fast - Jun. 30, 2009
In a hurry to sell your home? Here's how to make sure you snag the best price in shortest amount of time.
Mortgage applications at 7-month low - Jul. 1, 2009
Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%, data from an industry group showed on Wednesday.
Pending home sales on a roll - Jul. 2, 2009
Home sales continued their modest upward swing in May, according to a closely watched industry report issued Wednesday.
Mortgage rates slide - 30-year at 5.7% - Jul. 2, 2009
Home mortgage rates retreated last week, with the 30-year fixed slipping to 5.7% from 5.8%.
Beware the reverse-mortgage ripoff - Jul. 6. 2009
Beware the reverse-mortgage ripoff.
Don't blame Bob Shiller for the death of the housing market - Jul. 7, 2009
Robert Shiller didn't kill the housing market. He just predicted its demise. Now he's seeing some tentative signs of hope.
Obama mortgage plan needs work - Jul. 8, 2009
The Obama administration's housing rescue plan is failing to stem the foreclosure tidal wave, say borrowers, housing counselors and even the president himself.
Housing market freeze chills small business credit lines - Jul. 9, 2009
With home values dropping, home equity credit lines -- a favorite cash source for entrepreneurs -- are vanishing.
Mortgage rates continue slide - 30-year at 5.59% - Jul. 10, 2009
Home mortgage rates fell for the third time in four weeks, with the 30-year fixed slipping to 5.59% from 5.7% the week prior.
Mortgage Firms Prodded to Modify More Loans - Jul 13. 2009
The Obama administration is pressing mortgage-servicing companies to step up their efforts to modify troubled loans under its housing-rescue program.
8 big mortgage mistakes and how to avoid them - Jul. 14. 2009
You can borrow too much or prepare too little. You can misjudge terms or overestimate your credit. With so much at stake, it's no wonder so much can go wrong.
Housing market freeze chills small business credit lines - Jul. 15, 2009
With home values dropping, home equity credit lines -- a favorite cash source for entrepreneurs -- are vanishing.
Obama turns up heat on mortgage servicers - Jul. 16, 2009
As complaints mount about President Obama's foreclosure prevention program, the administration is ratcheting up the pressure on mortgage servicers.
Foreclosed homes' lawns get color back with help - Jul 21. 2009
Talk about a silver lining in this disastrous economy. Nothing this surreal could have been imagined before the housing market caved in. Now this lawn resurrection business is, if not booming, steady and promising.
Mortgage applications climb but remain near 2009 lows - Jul. 22, 2009
Mortgage applications rose despite a jump in borrowing costs last week, but still bounced around the year's lows with unemployment fears depressing demand.
June home sales fall flat - Jul. 23, 2009
For the ninth straight month, home sales were below the bench mark 5 million rate. Average home price falls 15.4% from last June.
New home sales soar in June, but median price falls - Jul. 27, 2009
New home sales soared in June
Home price index of 20 cities in 1st monthly rise since 2006 - Jul. 28, 2009
The value of U.S. homes grew on a monthly basis in May for the first time in nearly three years, according to 20-city index released Tuesday.
Mortgage refinancing activity falls - Jul. 29, 2009
Mortgage applications fell for the first time in four weeks, driven by a drop in demand for home refinancing loans as interest rates climbed, data from an industry group showed on Wednesday.
Cities worst hit by foreclosures - Jul. 30, 2009
Sun Belt cities dominated the list of metro areas with the biggest foreclosure problems during the first six months of 2009.
Which servicers are modifying mortgages under Obama rescue? - Aug. 4, 2009
Mortgage servicers have put nearly 9% of delinquent borrowers into trial modifications under the Obama foreclosure prevention plan, the Treasury Department said Tuesday. That translates into 235,247 loans that were at least 60 days delinquent at the 38 loan servicing firms participating in the progr
Housing market upturn continues - Aug. 5, 2009
Housing market upturn continues
Underwater world - Aug. 6, 2009
Nearly half the nation's mortgage borrowers will soon owe more on their mortgages than their homes are worth, according to a new report.
House Democrat got Countrywide loans - report - Aug. 7, 2009
A leading Democrat in the U.S. House of Representatives who has rebuffed Republican efforts to subpoena records of a mortgage program for favored borrowers at Countrywide Financial Corp. got home loans from that lender, the Wall Street Journal reported Friday.
Mortgage rates tick lower after Bernanke - 30-year at 5.55% - Aug. 10, 2009
Home mortgage rates ticked lower after the Federal Reserve chairman said the central bank will keep interest rates low for an extended period.
Vacancies Suppress Southern California Recovery - Aug. 11, 2009
Southern California's high vacancy rates in commercial, residential and retail real estate could end up slowing down any recovery in the area.
Interview with Deutsche Bank about 'underwater' mortgages - Aug. 12, 2009
Fortune talks with Deutsche Bank about their prediction that 48% of U.S. mortgage owners will end up owing more than their home is worth by 2011.

Reader Feedback

  • loanmodificationman Jan 9, 2011 @ 3:02 pm | delete
    Thanks for writing on getting a loan modification/home loan modification I notice the banks are not trying as hard to help homeowners to save their home.
  • Csllaw Jul 9, 2009 @ 2:46 pm | delete
    Dear drgnj66,

    Thank you for writing to us! Legitimacy is hard to come lately, especially considering the current economic circumstances. Thankfully, there are a few things you can do to protect yourself. Most importantly, ensure that you are speaking directly to attorneys and not simply a law firm acting as a front for a loan modification company. Secondly, always run a google search on the company. If the company has defrauded others in the past, likely there will be reports on consumer watch websites such as ripoffreports.com.

    Should you have any further questions, please contact me directly at charles@kaglew.com
  • Csllaw Jul 9, 2009 @ 2:32 pm | delete
    Dear Dawn,

    It has been a pleasure to work with you. It has also been very rewarding for us to be able to finally catch a glimpse of the finish line. We wish you all the best and thank you for your encouraging words and for the opportunity to help you.
  • DAWN DISHONG Jul 8, 2009 @ 5:58 pm | delete
    DEAR CHARLES, ZACH, AND MATT, I WOULD LIKE TO THANK ALL OF YOU FOR WORKING SO HARD ON MY CASE. EVEN THOUGH IT HAS BEEN A VERY STRESSFULL TIME IN MY LIFE, I FEEL VERY CONFIDENT HAVING THE 3 OF YOU ON MY SIDE AND I AM EVER SO GRATEFUL TO ALL OF YOU. GOD BLESS YOU AND THANK YOU AGAIN
    DAWN DISHONG
  • drgnj66 Jul 8, 2009 @ 3:41 pm | delete
    how do you know what companies can be trusted to help? I completed one questionaire on line, and am getting HOUNDED by law firms, some say they can help other say no....but they all want a lot of money to do it.....who can you trust?
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