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National Mortgage Settlement - A Win for Banks - more hype for homeowners
By BPE Attorneys with special thanks to Keith Dunnagan
Lenders Settle with Government in Foreclosure Abuse Investigation
Nearly two years ago the State’s Attorneys General across the country along with Federal Officials collectively began to investigate the largest lenders regarding the foreclosure practices of the banks. As you may recall, this investigation got a huge boost in [...]
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CAN A LOAN BE MODIFIED AFTER A CHAPTER 7 BANKRUPTCY DISCHARGE?
We are often asked the question: can a loan be modified after a Chapter 7 Bankruptcy Discharge? While we are not Bankruptcy attorneys, after much research and inquiry wih BK attorneys, the simple answer appears to be “Yes” … if both the lender and borrower agree to do so. However, the more important questions that [...]
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HAMP ANNOUNCES INCREASED PRINCIPAL REDUCTIONS FOR LOAN MODIFICATIONS
As reported in DSNews.com, government officials have announced changes to the administration’s Home Affordable Modification Program (HAMP) which are expected to extend relief to a larger share of struggling homeowners as well as renters, according to federal officials. One of the key adjustments to the program centers around principal reductions. HAMP currently includes an option for servicers [...]
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Beware of Independent Review Scams
On December 23rd, I wrote about the new Independent Foreclosure Review Process that had been ordered by Federal Regulators against major residential loan servicers such as BofA, Chase, Wells Fargo and many others. http://stevebeede.com/2011/12/the-independent-foreclosure-review-process/. That process required the lenders to hire reviewers to contact borrowers who had been foreclosed in 2009-2010 and gather information on [...]
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COPING WITH COMMERCIAL LOAN PROBLEMS
While residential short sales and foreclosures have been getting most of the headlines for the past three years, in the backgroud was the increasing difficulties faced by commercial property owners trying to hold-on while facing large vacancies and increasing demands for rent reductions to keep tenants. In 2011 we saw a rise in the short sales [...]
