Blown Mortgage - Latest Comments

Re: Afternoon Quickie 02/10/2009

craigspva2 — Fri, 06 Nov 2009 23:53:18 -0000

Interesting post. I have made a twitter post about this. My friends will enjoy reading it also.

Re: Loan Modifications Scrutinized, 1340 Loan Modifications Investigated in California

Steve — Fri, 06 Nov 2009 11:02:46 -0000

Wow. You have no clue what is going on and good luck with home prices going up 9.5% next year. Please take your head out of the ground and look at the unemployment rate and the number of homes that are being foreclosed on each month.
Did you ever stop to think that maybe banks not being willing or able to give loan modifications might have something to do with all the complaints about loan mod companies? If you pay $3000 to a loan mod company and they work for 4 months trying to get you a loan mod and then the bank says no, what do you do? Well, you yell and scream about a scam because of idiot bloggers who write ridiculous articles without having a clue what is really going on.
Are there scammers, well of course there are, just like in every industry but thanks to the media it gets blown way out of proportion. Have you ever tried to negotiate a loan mod on your own or called the government for help? If we were back in the old days you would be stoned for giving such terrible advice. After hearing hundreds of stories of people who have gone down that road I would not wish that on my worst enemy. Please educate yourself before you write anything else. You are not helping people by standing on the sidelines and throwing mud in the wrong direction.

Re: Loan Modifications, 5 Things the Government Is Not Doing But Should

deanouellette — Thu, 05 Nov 2009 09:48:17 -0000

Question on number 2 principal reduction
Loan 300k
House worth 150k today so govt forces bank to do principal reduction to 150k
Owner sells house in 7 years for $320k, do they owe the bank the 150k or do they owe the bank the 300k (minus principal paid in the next 7 years obv)

Re: Disappointed Homeowners Torture Loan Modification Agents

Rob — Mon, 02 Nov 2009 22:31:10 -0000

"However they are willing to spend over 75 billion dollars to avoid to the best of their ability this situation."

I'm not sure their intent is exactly that, nor does this represent their best effort insofar as the citizen is concerned.

That said, I agree torturing your loan modification agent is not the right answer.

Re: Obamas Loan Modification Success Explained

lasvegasrealestatepaul — Sun, 01 Nov 2009 14:15:17 -0000

Interestingly... with my Bank of America short sales... they have been automatically included in the Making Home Affordable program for loan modification reviews even though the sellers have absolutely no intention of staying.

In fact.. more then once I've had to make corrections with Bank of America to move the file out of the loan modification department to the correct short sales department. (My short sale proposals CLEARLY state that the file is a short sale.)

Do you think there is a possibility that short sales are being slammed into the loan modification review to meet some type of quota?

Re: Free Home Loan Modification Help For Homeowners

Screen Sleuth — Tue, 27 Oct 2009 15:42:52 -0000

Loan mods should always be free (to a degree). Companies that prey on people by charging "setup fees" are almost always a ripoff.

Re: Free Home Loan Modification Help For Homeowners

Screen Sleuth — Tue, 27 Oct 2009 15:42:02 -0000

Loan mods should always be free (to a degree). Companies that prey on people by charging "setup fees" are almost always a ripoff.

Re: And We’re Back…

swingtrading3 — Thu, 22 Oct 2009 02:26:04 -0000

Interesting post. I have just bookmarked this at stumbleupon. Others no doubt will like it like I did.

Re: Free Home Loan Modification Help For Homeowners

steveligor — Tue, 20 Oct 2009 16:19:51 -0000

This is the type of blog we need more of in the real estate industry. Keeping consumers informed should be seen as a benefit, not a detriment to us in the upper echelon.

I will definitely keep checking in here.

-Steve Ligor

Re: Your Tax Dollars Hard at Work

swingtrading3 — Mon, 19 Oct 2009 02:07:12 -0000

Interesting post. I have made a twitter post about this. Others no doubt will like it like I did.

Re: Morning Quickie 02/18/2009

swingtrading4 — Sun, 18 Oct 2009 05:32:16 -0000

Nice one. I have stumbled and twittered this for my friends. My friends will enjoy reading it also.

Re: Contact Us

kylebarnette — Wed, 14 Oct 2009 15:47:37 -0000

Is this site still for sale if so how much are you asing?

thank you for you time
Kyle Barnette

Re: 500,0000 Loan Modifications: Nobel Prize Not The Only Target Obama Hits Early

Cindy — Mon, 12 Oct 2009 10:19:00 -0000

Unfortunately, not all mortgage lenders are willing to participate in this program. Foreign owned Deutsche Bank, has told its mortgage servicer OneWest Bank(formerly Indymac Bank bailed out by the US government) that they are ,"Not participating in ANY LOAN MODIFICATION program at this time, including HAMP." When you speak to Hope Now their reponse is, "We cannot FORCE lenders/investors to participate in ANY loan modification program." When you google Deutsche Bank loan modifications stories you will see stories of people desperate to get a loan mod that can't. Also, Deutsche Bank is one of the largest holders of residential mortgages in the USA, they are also one of the banks doing the largest amount of foreclosures.

Re: Contact Us

Comstock — Mon, 12 Oct 2009 06:27:44 -0000

HI - DO YOU HAVE ANY EXPERIENCE WITH A BORROWER FILING A CLAIM WITH THE OCC AND THEN SENDING IT TO THE BANK AND THE BANK RESPONDING AND THEN THE OCC MAKING A RULING - I AM CURIOUS AS TO HOW MUCH AUTHORITY OR POWER THE OCC REALLY HAS.

Re: What Is A Foreclosure?

deefoureeefive — Sat, 10 Oct 2009 12:12:54 -0000

what is the courts of equity? Is there a judge presiding? Will I get to plead my case that my mortgage company has falsified my documents inorder to get payments from me...without any money going toward the principal? Its not my fault I am behind in my payments.

Re: What Is A Foreclosure?

deefoureeefive — Sat, 10 Oct 2009 12:10:09 -0000

Originally, my income was overstated to get the loan. Now I cant afford to make payments. The Mortgage company wants me to do a short sale. I want to see a non partial judge and explain that my home is being stolen by loan sharks. If I do a short sale, I will lose any chance to contest the mortgage. It is like saying what they did was okay. And it isnt okay. I dont want to move.

Re: HAMP, Way Out For Delinquent Borrowers And Those Without Fannie

FutureRob — Fri, 09 Oct 2009 09:16:29 -0000

"The final yes will have to come from your mortgage provider."

And that is why this program will fail.

Re: Do’s and don’ts of mortgage refinancing.

joelcarson — Thu, 08 Oct 2009 16:31:34 -0000

I couldn't agree with these tips more. It's sad, but true, that some entrepreneurs are ready to pray on the weak.

Re: Free Home Loan Modification Help For Homeowners

joelcarson — Thu, 08 Oct 2009 16:28:53 -0000

What a great service. Thanks for sharing your information and your ideas for good customer service.

Re: Loan Modifications Eligibility Criteria, The Rules Explained.

disappointed — Thu, 01 Oct 2009 16:41:40 -0000

This website has gone to shit.

Re: A Brief History of IndyMac Stock

swingtrading — Fri, 25 Sep 2009 09:57:14 -0000

Interesting post. I have just bookmarked this at stumbleupon. Others no doubt will like it like I did.

Re: Free Home Loan Modification Help For Homeowners

Nashville Real Estate — Thu, 24 Sep 2009 11:44:48 -0000

What a great post! This is so helpful and I hope find as useful as I have. Good Luck with the blog and keep up the good work! Thanks and have a great day!

Re: More than half of homeowners have remodeling plans this year

Bill — Mon, 21 Sep 2009 16:29:51 -0000

We've seen this in the Hilton Head Real estate market as well. Many that were looking to sell and move on to something else have decided to sit back and improve what they already have.

Re: FHA 203k Loans Today

MikeYou — Sun, 20 Sep 2009 20:04:07 -0000

Depending on where you are (high cost area) the 203k may be a jumbo loan as well. I'd be pleased to field any 203k consultant questions that may come up.

Re: Loan Modifications, Judges Frustrated by Banks Nonchalant Attitude

Kathy — Sun, 20 Sep 2009 19:35:01 -0000

One of the biggest problems is that banks were never put into a position of being FORCED to do the loan mod..for example I am currently trying to work on a loan modification for my mother...paperwork has been sent in twice to OneWest Banks(formerly Indymac Bank)..told that the bank had received all the paperwork and to call back in 60 days I did...the result is that OneWest read to me the exact quote of , "At this time Deutsche Bank, the investor, is not doing loan modifications"...this is what happens when you allow foreign banks to takeover the American market...the problem is that this is all voluntary...why doesnt the goverment go after these investments of these foreign banks here in America, threaten to sell them off and us the money to help American homeowners...