Yesterday, I told you about the lending industry’s resistance to mortgage modifications as a solution to the foreclosure crisis.
It turns out that there’s another huge reason for lenders to dislike the use of mortgage modifications:  Mortgage Modifications usually don’t work out.
According to Lender Processing Services, a mortgage payment processor that monitors 39 million of the [...]

Last week, mortgage industry representatives made an interesting admission to lawmakers:
Mortgage modifications aren’t doing the trick.
According to Tom Deutsch, Deputy Executive Director with the American Securitization Forum:  “While critically important and increasingly employed, industry-led loss mitigation initiatives, including loan modifications, are not a panacea for declining home prices, mortgage defaults and foreclosures.”
Just like yesterday’s discussion [...]

If you were expecting the $700 Billion bailout plan to mean that the government might purchase some home loans and in so doing stabilize the real estate market, think again.
This has some significant ramifications for investors and best strategies - please pay close attention!
Treasury Secretary Hank Paulson held a press conference last week during which [...]

I’ve seen reports recently about the stark contrast in availability of financing when comparing traditional lenders to credit unions.  Apparently, credit unions as a group are not suffering from the “credit crisis” like the big mortgage lenders and banks are.
In the interest of full disclosure, note that what I’m sharing with you here is based [...]

I’ve heard an increasing number of reports about lenders who positively refuse to speak with their borrowers about loan modifications and/or impending foreclosures.
I suspect a primary reason for this is that many lenders are waiting to see how the Bailout Bill will play out, and whether they’ll be able to sell their toxic assets to [...]