tag:blogger.com,1999:blog-20662409062400259662024-03-14T00:23:59.378-07:00The Paddy Deighan Real Estate and Legal BlogPaddy Deighan is a real estate investor, attorney and advocate. This blog is dedicated to providing useful information, tips and guidelines for all of your real estate needs.
<a href="http://deigs1.propfrog.hop.clickbank.net"><img src="http://www.propfrog.com/userfiles/images/21308.gif" width="720" height="90"></a>Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.comBlogger189125tag:blogger.com,1999:blog-2066240906240025966.post-68968056530606418122013-09-23T18:25:00.000-07:002013-09-23T18:25:36.959-07:00CFPB and OCC Broker Another Settlement....A Win for Chase Bank Customers<div dir="ltr" style="text-align: left;" trbidi="on">
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There are approximately 2.1 million JP Morgan Chase Bank customers who can expect to receive a small refund as part of a recent $309-million settlement between the <a href="http://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau" style="color: #1e77b9;" target="_blank" title="consumer financial protection">Consumer Financial Protection Bureau</a> (CFPB) and the bank. The CFPB and the <a href="http://www.occ.treas.gov/" style="color: #1e77b9;" target="_blank" title="comptroller of the currency">Office of the Comptroller of the Currency</a> (OCC) determined that Chase “engaged in unfair billing practices for certain credit card add-on products by charging consumers for credit monitoring services that they did not receive.” Customers can expect to receive a “full refund” if they have been identified as not receiving the <a href="http://nationalmortgageprofessional.com/news43499/CFPB-Fines-Chase-%24309-Million-Plus-Deceptive-Credit-Monitoring-Practices" style="color: #1e77b9;" target="_blank">services between October 2005 and June 2012</a>.</div>
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However, doing some simple math, we can determine that on average, each bank customer will only receive less than $150.00. It is great that governmental agencies are watching such practices. However, my question is what is the value of the money that Chase received in regard to the practices? Almost seven years of conduct resulted in what benefit to Chase? We would need to know this in order to determine whether this is an appropriate resolution. What was the average bank customer charged during that time? Seems relatively certain that is was more than $150 each!</div>
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Again, it is great that the government is protecting us…and equally sad that we need protection!! The CFPB seems to be one governmental agency that is stepping up and monitoring lender conduct. It also seems that charging for a service that customers did not receive is a tad on the despicable side, so was part of the settlement punitive? Certainly seems like it should be given that the allegation was that Chase charged for services that were not received but the bank customers.</div>
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Hopefully the next settlement will provide more benefit to those that were harmed. In the interim, we should be thankful that someone is out there to protect us.</div>
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Paddy Deighan J.D. Ph.D</div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com1tag:blogger.com,1999:blog-2066240906240025966.post-39476513441613575892013-09-21T18:34:00.003-07:002013-09-21T18:34:40.379-07:00Amazing Quote from History<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 16px; font-weight: bold;">I am frequently astounded that quotes from history...quotes that may have been made hundreds of years ago, are still true today (if not truer today). I was watching a history program on late night cable and there was a quote from Thomas Jefferson that rally caught my attention. Mr. Jefferson stated: “My reading of history convinces me that most bad government results from too much government.” </span></div>
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<strong style="font-family: 'Droid Seriff'; font-size: 13px;"><img alt="" height="376" src="http://activerain.com/image_store/uploads/2/8/2/5/7/ar137981310875282.jpg" style="-webkit-box-shadow: rgba(0, 0, 0, 0.2) 0px 0px 20px; border-bottom-left-radius: 0px; border-bottom-right-radius: 0px; border-top-left-radius: 0px; border-top-right-radius: 0px; border: 0px; box-shadow: rgba(0, 0, 0, 0.2) 0px 0px 20px; padding: 8px;" width="290" /></strong></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 16px; font-weight: bold;"><strong><span style="color: #444444; font-family: Arial, Helvetica, sans-serif; line-height: 22px;">How did he know this type of thing? How could they be so acutely aware of the affect of anything on the future. I suppose that some things are fundmanetal and apparently, Mr Jerfferson stated this after reading history. Perhaps we all need to read a little more history.</span></strong></span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 16px; font-weight: bold;"><strong><span style="color: #444444; font-family: Arial, Helvetica, sans-serif; line-height: 22px;">Sooooo, I decided to read a few more quotes from Mr. Jefferson since has many quotes as they pertain to government and because I have had a fascination about him since graduate school at WIlliam and Mary. He was a tall man yet his desk at William and Mary is tiny!!!! I always wanted to try and sit in it (it is roped off of course)!!!</span></strong></span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 16px; font-weight: bold;">Paddy Deighan J.D. Ph.D</span></div>
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<span class="blog_post_h2" style="color: #333333; font-family: 'Droid Seriff'; font-size: 16px; font-weight: bold; text-decoration: none;"><strong><span style="color: #444444; font-family: Arial, Helvetica, sans-serif; line-height: 22px;"><a href="http://www.homesavers.pro/"><span style="color: #1e77b9;">http://www.</span>homesavers.pro</a></span></strong></span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-14880154481777578872013-09-18T00:25:00.000-07:002013-09-18T00:25:05.808-07:00Luxury Home Market Recovering the Quickest<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center;">There is an old adage that applies to the current real estate market. That which falls most during a recession is normally also what rises quickest. This certainly applies to home sales. Homes worth over $1 million the brunt of the real estate down turn over the past five years. Some reliable sources estimate that home is the $1 million plus market took an average 46% loss. I am familiar with many market win which the values dropped 70% in the luxury market. However, these homes are now rebounding at an astonishing rate. Investors who had available funds, purchased the homes as values dropped and the investors also took advantage of historically low rates. Now, as those homes rise in value, investors consider whether to cash in or hold on as interest rates inch upward. </span><br />
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<span style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center;"> According to real estate research firm, <a href="http://www.dataquick.com/">DataQuick Inc</a>., million-dollar homes are gaining at triple the pace of others. Those homes gained an average of 37% in first half of 2013 compared to 2012, which is also the highest level since 2007. Homes sold for under $1 million also rose, but only 11% during the same time period. The National Association of Realtors said million-dollar homes accounted for 2.4% of home sales in June 2013, which is way up from 1.3% early last year. </span><br />
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<span style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center;">Analysts opine this is due to the wealthiest people holding off until they were confident about the recovery. These people may have done very well with other investments over the past few years, and they may be looking to begin investing in real estate once again. After all, home interest is still a significant tax deduction (for now at least). DataQuick names the Seattle area as a prime area for million-dollar home price increases, at 61%. Sacramento, San Diego, and Charlotte were also identified as prime areas feeding the increase. </span><br />
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<span style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center;">Paddy Deighan J.D. Ph.d</span><br />
<span style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center;"><a href="http://www.homesavers.p/"> </a><a href="http://www.homesavers.pro/">http://www.homesavers.pro</a> </span></div>
Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-2243640012902048242013-09-18T00:20:00.002-07:002013-09-18T00:20:57.769-07:00Best markets for Real Estate Recovery<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2">As a follow up to my blog post about luxury home recovery, here is a compilation of the cities that are recovering faster than most. I have to say that I am surprised / shocked at some of the cities…but here they are!! Some markets are experiencing more progress than others. <a href="http://www.realtytrac.com/" style="color: #1e77b9;" target="_blank">RealtyTrac</a> recently released its first Housing Market Recovery Index, which reveals the metro cities leading the housing recovery.</span></div>
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<span class="blog_post_h2">The index showed that upstate New York, southwest Florida, and Northern California’s Bay Area are leaders in the housing recovery. On the other hand, markets in northern Maryland, southeast Pennsylvania, and downstate Illinois are still showing signs of lagging the furthest behind in the recovery, according to RealtyTrac.</span></div>
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<span class="blog_post_h2">“The U.S. housing market has clearly shifted to recovery mode over the past 18 months, with home prices consistently rising and foreclosures falling closer to pre-housing bubble levels,” said Daren Blomquist, vice president at RealtyTrac.</span></div>
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<span class="blog_post_h2">For its Housing Market Recovery Index, RealtyTrac used seven different measures to evaluate the 100 largest metro’s recovery: the unemployment rate, underwater loan percentage, foreclosure activity percentage change from peak, distressed sales, investor share, cash purchases, and median home price change from the bottom. The following are the metros that ranked highest on its Housing Market</span></div>
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<span class="blog_post_h2">Recovery Index:</span></div>
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<span style="text-decoration: underline;"><span class="blog_post_h2">Rochester, N.Y.</span></span></div>
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<span class="blog_post_h2">Median home price change from trough: 93%</span></div>
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<span class="blog_post_h2">Unemployment rate: 7%</span></div>
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<span class="blog_post_h2">Underwater home owners: 7%</span></div>
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<span style="text-decoration: underline;"><span class="blog_post_h2">Cape Coral-Fort Myers, Fla.</span></span></div>
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<span class="blog_post_h2">Median home price change from trough: 82%</span></div>
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<span class="blog_post_h2">Unemployment rate: 7.4%</span></div>
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<span class="blog_post_h2">Underwater home owners: 42%</span></div>
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<span class="blog_post_h2">Albany-Schenectady-Troy, N.Y.</span></div>
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<span class="blog_post_h2">Median home price change from trough: 44%</span></div>
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<span class="blog_post_h2">Unemployment rate: 6.4%</span></div>
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<span class="blog_post_h2">Underwater home owners: 9%</span></div>
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<span style="text-decoration: underline;"><span class="blog_post_h2">San Jose-Sunnyvale-Santa Clara, Calif.</span></span></div>
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<span class="blog_post_h2">Median home price change from trough: 70%</span></div>
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<span class="blog_post_h2">Unemployment rate: 6.9%</span></div>
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<span class="blog_post_h2">Underwater home owners: 9%</span></div>
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<span style="text-decoration: underline;"><strong>San Francisco-Oakland-Fremont, Calif.</strong></span></div>
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<span class="blog_post_h2">Median home price change from trough: 96%</span></div>
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<span class="blog_post_h2">Unemployment rate: 6.5%</span></div>
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<span class="blog_post_h2">Underwater home owners: 17%</span></div>
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<span style="text-decoration: underline;"><span class="blog_post_h2">Birmingham-Hoover, Ala.</span></span></div>
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<span class="blog_post_h2">Median home price change from trough: 58%</span></div>
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<span class="blog_post_h2">Unemployment rate: 5.9%</span></div>
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<span class="blog_post_h2">Underwater home owners: 15%</span></div>
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<span class="blog_post_h2">Atlanta-Sandy Springs-Marietta, Ga.</span></div>
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<span class="blog_post_h2">Median home price change from trough: 57%</span></div>
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<span class="blog_post_h2">Unemployment rate: 8.9%</span></div>
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<span class="blog_post_h2">Underwater home owners: 36%</span></div>
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<span class="blog_post_h2">Paddy Deighan J.S. Ph.D</span></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="paddy Deighan"><span class="blog_post_h2">http://www.homesavers.pro</span></a></div>
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<span style="background-color: white; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center;">- See more at: http://activerain.com/blogs/deigs1#sthash.Epeac9H7.dpuf</span></div>
Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-35542637557518988682013-09-08T18:45:00.000-07:002013-09-08T18:45:14.476-07:00Negative Equity Report: Good News or Bad news?<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Negativity equity is an issue that can be an indication of many aspects of a real estate market. Zillow keeps track of such things and while many question the accuracy of some of Zillow’s reports (such as their Zestimates), the Negative Equity report seems accurate.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">According to the most recent Zillow “Negative Equity Report” , there are 12.2 million homeowners who are still underwater on their properties. This equates to nearly a quarter (23.8 percent) of all homeowners with a mortgage and 16.7 percent of all homeowners with and without a mortgage. Zillow predicts that by the end of the second quarter of 2014, the negative equity rate will have fallen to 20.9 percent and 1.9 million more homeowners will once again be in positive territory. “Widespread rising home values during the past year have helped…many homeowners who were only modestly underwater to come up for air,” <a href="http://www.dsnews.com/articles/zillow-122m-homeowners-underwater-in-q2-2013-08-29" style="color: #1e77b9;" target="_blank">said Zillow chief economist Stan Humphries</a>. However, he added, “for those homeowners who are deeply underwater…there is still a long row to how.”</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;"><img alt="negative equity attorney" height="354" src="http://activerain.com/image_store/uploads/9/2/6/8/1/ar137869062018629.jpg" style="border: 0px;" width="257" /></span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">More than half of all underwater borrowers<a href="http://www.zillow.com/visuals/negative-equity/#4/39.98/-106.92" style="color: #1e77b9;" target="_blank"> (57 percent) are 20 percent or more underwater</a>. Furthermore, one in seven (13.4 percent) of all underwater borrowers owe more than twice what their home is worth. If home values rise, as Zillow predicts, 4.8 percent in the next year, it will take homeowners who are 20 percent underwater four years to reach positive equity and homeowners who are more deeply underwater years longer - particularly given that most analysts agree that <a href="http://www.zillowblog.com/2013-08-28/negative-equity-rate-drops-below-25-percent-for-first-time-in-q2-but-millions-still-face-a-long-road/" style="color: #1e77b9;" target="_blank">home appreciation rates are due to slow by the end of 2014</a>. “Negative equity will be a factor in…markets for years to come,” said Humphries.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Negative equity can lead to strategic defaults, short sales, loan modification applications, bankruptcies and many other events that can affect a real estate market. All in all, this report is lower than I anticipated so it seems like good news.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Paddy Deighan J.D. Ph.D</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;"><a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="padraic deighan">http://www.homesavers.pro</a></span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-66275175755297642162013-09-05T08:32:00.000-07:002013-09-05T08:32:30.709-07:00Government Fraud Case Against Bank of America Moves Forward<div dir="ltr" style="text-align: left;" trbidi="on">
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A court in New York ruled that there are “<span style="font-family: Arial, sans-serif;"><span style="font-size: 10.5pt; line-height: 15.75pt;">genuine factual disputes</span></span>” that justify letting the case continue against the second-largest U.S. bank. Only a few prominent cases tied to the financial crisis have ever gone to trial.</div>
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Judge Rakoff also stated that he will decide before trial which specific legal theories he will allow the government to pursue. Presumably, he will announce that aspect of his decision within the next couple of weeks.</div>
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What he determines about what the proper scope of the trial should be of great interest to correspondent lenders who sold loans to Countrywide/BofA in the past, and who are now facing repurchase demands from that bank (or other investors) now. In fact, that “scope” ruling could be of great value to correspondents regardless of whether Rakoff allows few or many legal theories and claims to be pursued by the government.</div>
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If he rules that certain types if theories or claims cannot properly be pursued, then it stands to reason that correspondents should be able to defend themselves against similar claims by BofA by reminding the bank that those types of claims have been adjudicated to be legally impermissible by a prominent judge in this very prominent case.</div>
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Likewise, BofA cannot possibly suffer damages related to certain types of claims by the government if the government is not even allowed to pursue those claims at trial — therefore, any subsequent attempt by BofA to force correspondents to “make it whole” for supposed losses on such claims would be presumptively fraudulent.</div>
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On the flip side, if Rakoff allows a broad spectrum of types of claims to go to trial, correspondents should benefit from noting the lengths to which BofA goes to demonstrate that there was no problem whatsoever with the loans, underwriting practices, and loan programs in dispute.</div>
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All of BofA’s public protests about the quality and accuracy of the loan data and underwriting will be useful to quote back to the bank when it does a shameful about-face and demands that the third-party originators who sold it these loans should pay up for supposed “defects” related to loan file information and alleged poor underwriting.</div>
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<strong><em>Case Background</em></strong></div>
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To recap the<a href="http://www.law360.com/articles/389252/feds-sue-bofa-over-alleged-1b-mortgage-fraud" style="color: #1e77b9;" target="_blank" title="bank of america lawsuit"> pertinent case background</a>, the U.S. Department of Justice sued Bank of America last October, joining a whistleblower lawsuit originally brought by former Countrywide Financial Corp executive Edward O’Donnell.</div>
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It alleged that Countrywide, acquired by Bank of America in July 2008, caused more than $1 billion of taxpayer losses by selling defective home loans to Fannie Mae and Freddie Mac, the mortgage financiers seized by the government in September 2008.</div>
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The government said the loans went through a program called the “<a href="http://www.jdsupra.com/legalnews/bank-of-america-fraud-case-headed-to-tri-88525/?utm_source=editorial_email" style="color: #1e77b9;" target="_blank">High Speed Swim Lane</a>” – also known as “HSSL” and “Hustle” – that Countrywide devised in 2007 to speed up loan processing, even if it meant ignoring safeguards to help ensure that loans were sound and not tainted by fraud.</div>
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Bank of America, in court papers, countered that HSSL was a “legitimate and good-faith effort” to develop systems for making prime loans after the collapse of the subprime market.</div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="padraic Deighan">http://www.homesavers.pro</a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-80760845225282525612013-09-04T02:12:00.002-07:002013-09-04T02:12:18.780-07:00More Troublesome Restrictions From HOAs<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Just in case you believe that <a href="http://en.wikipedia.org/wiki/Homeowner_association" style="color: #1e77b9;" target="_blank" title="home owner association regulations">Home Owners’ Associations </a>(HOAs) have too much time on their hands and too much control, here is yet another restrictive HOA story. In many states, neighborhood homeowners’ associations (HOAs) can regulate just about anything – and everything – they wish. However, at least in New York, the HOA cannot tell you who you can and cannot support via a political yard sign. A state Supreme Court decision made last week established that local HOAs “do not have the authority to ban residents from displaying political signs.” The ruling came in response to a nine-year battle between local homeowners and their HOA, which had been fining them five dollars a day for every sign they placed in their yard. Ultimately,<a href="http://poststar.com/news/local/court-queensbury-homeowners-can-display-political-signs/article_1fa140f0-11b3-11e3-87a1-001a4bcf887a.html" style="color: #1e77b9;" target="_blank">the HOA placed a lien on the home for $1,070</a>. The HOA argued that the covenants in the neighborhood restricted “additional sign[s] or other advertising devices of any nature…placed for display to the public view on any home, in any window of any home, on any lot or other portion of the property.” The plaintiffs argued that the restrictions applied to advertising only and the court agreed that the rules did not apply to political signs. The homeowners are also protected from further levying of fines as part of the ruling.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Undoubtedly, the HOA will amend its by-laws to include any sign, not just advertising signs, but this is a minor victory against obtrusive HOA activity. In my experience, HOAs are run by people with too much time on their hands and too much desire to regulate….”autonomous dictatorships”, I call them. </span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">What is the average HOA by-laws length? 500 pages? I have seen them to be over 1,000 pages and no one ever reads them (except those that patrol the neighborhoods scouring the community for violations). Yup, those same people that have too much time on their hands. Hey, I am just happy that spell-check recognized 'shenanigans" LOL</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Paddy Deighan J.D. Ph.D</span></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="padraic deighan"><span class="blog_post_h2" style="color: #333333; font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">http://www.homesavers.pro</span></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-86901725006616871982013-09-03T02:08:00.002-07:002013-09-03T02:08:57.996-07:00Market Trends of Generation Y<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">I found an article that was pretty interesting. It compared real estate trends among the different generations. Generation Y is men and women from 18 to 34 years of age—largely prefer downtown living, often in rental apartments with easy access to walkable neighborhoods and public transportation.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;"><a href="http://www.uli.org/" style="color: #1e77b9;" target="_blank">The Urban Land Institute</a>, or ULI, the land-use association that long has championed dense development over sprawl, this week plans to release the results of a survey of generational housing preferences, highlighting those of Generation Y.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">The survey found that Generation Y is more likely than older generations to live in apartments and in downtowns, with 54% favoring renting and 39% favoring city living.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Some real estate professionals apparently disagree with the surveys and state that Generation Y members rent out of necessity and not as a preference. I can see this point since most Generation Yers do not seem to work LOL. KIDDING!!! Increased costs of parking and maintaining vehicles, and greater access to public transportation help Gen Yers decide on urban environments, including both studios and condos. Many complexes also come with amenities Gen Yers enjoy including outdoor pool areas, gas grills, gyms, and social rooms. These properties also require much less maintenance than the average home.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">The housing and mortgage crisis over the past five years may have scared some Gen Y members away from investing in real estate for the time being. They may have seen their parents lose fortunes in home equity and 401K funds. Perhaps, they are waiting it out to see if this is truly a real estate market rebound, or just a blip. Rising interest rates may force Gen Yers to reconsider as potential payments and rents head skyward.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Anyway, it all seemed pretty interesting to me..especially since I have never seen a study such as this. However, it seems that this type of information would be important for marketing purposes as it relates to an increasingly significant segment of the population.</span></div>
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<span class="blog_post_h2" style="font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">Paddy Deighan J.D. Ph.D</span></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="Padraig Deighan"><span class="blog_post_h2" style="color: #333333; font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">http://www.homesavers.pro</span></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-20860304030914474892013-09-03T01:55:00.000-07:002013-09-03T01:55:00.879-07:00An Important Update on Facebook Privacy<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2">I have never been a particular fan of Facebook. They do not respect privacy and they allow politics to interfere in the social networking sphere and there is no place for this in their reality.. They are allowed to do things with information that you are not allowed to do…adding to my disdain for them. True, they have SOME usefulness and hence, Facebook must be tolerated to some degree. You have all seen the Facebook ads that show us an image of one of our friends and notify us that this particular friend likes some particular brand or product. However, were you aware that these images could not only be used to endorse products that you have already “liked,” but also those that have nothing whatsoever to do with you AND without your providing any permission other than simply using Facebook?</span></div>
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<span class="blog_post_h2">Facebook recently settled a class action lawsuit regarding this practice. The settlement and resulting privacy-policy “clarifications” actually just <a href="http://www.moneytalksnews.com/2013/08/30/facebook-is-changing-the-rules-so-it-can-keep-selling-your-face/?" style="color: #1e77b9;" target="_blank" title="facebook privacy">make the practice legitimate</a>. According to Facebook’s revised privacy policy, “you give us permission to use your name, profile picture, content, and information in connection with commercial, sponsored, or related content…served or enhanced by us…without any compensation to you.” WHAT????? This means Facebook can use your images basically anywhere, at any time, and for any reason.</span></div>
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<span class="blog_post_h2">The class-action lawsuit was brought by a man whose wife’s image was used in this manner to advertise a “hot singles” service, but despite the fact that Facebook ultimately settled, the judge who approved the settlement even said that “it is far from clear [that the plaintiffs] could ever have shown they were actually harmed in any meaningful way.” The only way to opt out of this term of use is to quit Facebook completely. Facebook has also received criticism lately for another relatively new feature that takes facial recognition to a new level in order <a href="http://abcnews.go.com/Technology/facebook-privacy-policy-analyze-profile-photo/story" style="color: #1e77b9;" target="_blank">to suggest tagging options for pictures</a>. Not to mention that htis comes from a paragon of privacy protection, ABC News LOL Be forewarned!!!</span></div>
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<span class="blog_post_h2">Paddy Deighan J.D. Ph.D</span></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="paddy deighan">http://www.homesavers.pro</a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-82072137930323822162013-07-31T03:42:00.000-07:002013-07-31T03:42:22.056-07:00Pluses and Minuses of the HAMP Loan Modification Program<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2">The <a href="http://www.makinghomeaffordable.gov/programs/lower-payments/Pages/hamp.aspx" style="color: #1e77b9;" target="_blank">Home Affordable Modification Program (HAMP) </a>has been something of a disappointment nearly from its inception. After loudly touting the program’s ability to help 4 million borrowers, the current administration was forced to concede it had barely helped a fraction of that number and some advocates and administrators in the program actually came right out and declared the program to be a failure. However, in recent months, there has been a lot of discussion about how HAMP is finally gaining momentum. Hundreds of thousands of borrowers are getting the loan modifications that they desperately need. There is another, untold aspect of the story however. The untold story is that many home owners are defaulting on the modified loans. Sometimes the default is literally just a few months after modification.</span></div>
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<span class="blog_post_h2"><img alt="loan modification paddy deighan" height="196" src="http://activerain.com/image_store/uploads/7/0/4/1/4/ar137526657041407.jpg" style="border: 0px;" title="paddy deighan loan modification" width="296" /></span></div>
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<span class="blog_post_h2">According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), of the roughly 1.2 million mortgage modifications made through HAMP since its inception in 2009, 306,000 have re-defaulted. This is a default rate on modification of over 25%. It is either good or bad..…it depends upon how you want to look at it.</span></div>
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<span class="blog_post_h2"> Furthermore, homeowners who entered the HAMP program in 2009 are <a href="http://www.localnews8.com/lifestyle/money/watchdog-borrowers-in-obama-housing-program-redefaulting/-/461672/21137896/-/y77kcz/-/index.html" style="color: #1e77b9;" target="_blank" title="HAMP loan modification">re-defaulting at a rate of 46 percent.</a> This statistic seems to be very alarming. “The Treasury needs to research why so many borrowers are dropping out of the program,” said head of SIGTARP Christy Romero. Her agency’s report indicates that homeowners who received only small reductions in their loan payments or overall debt, were still underwater on their mortgages, or had subprime credit scores and high overall debt at the time of modification were most likely to default. As of the end of April of 2013, taxpayers had lost roughly $815 million on permanent HAMP modifications that had re-defaulted.OUCHHHHHHH The U.S. Treasury originally allocated $19.1 billion to HAMP and, so far, has spent $4.4 billion. HAMP was recently extended to 2015.</span></div>
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<span class="blog_post_h2">Paddy Deighan J.D. Ph.D</span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-80613672224320343582013-07-31T00:15:00.000-07:002013-07-31T00:15:08.641-07:00Encouraging Foreclosure Statistics Indicate True Real Estate Market Recovery<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2">There are some additional real estate recovery statistics that indicate more good news. In June of 2013 total foreclosure filings dropped to 127,790. This number is a 35 percent decrease as compared to 2012. It is also the lowest monthly total since December 2006!! CNN Money analysts have analyzed these numbers and CNN declared that “the long national foreclosure nightmare is nearing its end.</span></div>
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<span class="blog_post_h2">RealtyTrac vice president Daren Blomquist is also echoing this positive position. <a href="http://money.cnn.com/2013/07/11/real_estate/foreclosures/index.html" style="color: #1e77b9;" target="_blank">Mr. Blomquist stated that</a> “the housing market could be back to pre-mortgage meltdown levels before the end of the year”. Blomquist further observed that, “it is becoming increasingly evident that foreclosures are no longer a problem nationally,” although he admitted that they might still be a small issue in “several state and local markets.”</span></div>
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<span class="blog_post_h2">Actual repossessions are down in 34 of 50 states last month as well.<a href="http://www.reuters.com/article/2013/07/11/usa-housing-realtytrac-idUSL1N0FG0PO20130711" style="color: #1e77b9;" target="_blank"> Arkansas, Oklahoma, and Maryland saw “significant increases”</a> in these actions. If banks continue at their current rate, 2013 will see about 500,000 repossessions. This compares favorably to the 671,000 repossessions in 2012. Blomquist predicted that once the foreclosure timelines start to decline, the recovery will truly be fully underway.</span></div>
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<span class="blog_post_h2">Presently, it takes an average of 526 days nationally for properties to go through the entire foreclosure process. “Once that number turns the corner and starts going down, that will be a strong indication that the lenders and courts have worked through the [foreclosure] backlog and now…are dealing with the fresher vintage of foreclosures,” he said. However, I nned to point out that the “average” of 526 days for foreclosure is misleading if viewed by itself. Two out of three foreclosures end in default and those cases take less than 45 days to adjudicate. Accordingly, the ones that are contested can easily take 4 years or longer. There are valid reasons for this as distressed home owners DO have options, such as Deed in Lieu, forbearance, loan modification, short sale, quiet title and wrongful foreclosure actions.</span></div>
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<span class="blog_post_h2">Paddy Deighan J.D. Ph.D</span></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="Padraic deighan"><span class="blog_post_h2">http://www.homesavers.pro</span></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-54440731267691681412013-07-15T02:15:00.004-07:002013-07-15T02:15:59.762-07:00New Fannie Mae and Freddie Mac Short Sale Guidelines<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2">There are changes looming in the guidelines which Fannie Mae and Freddie Mac utilize relative to the multiple listing services (MLS). Beginning August 1st, each new short sale listing must maintain an “active” status for a minimum of five days. Additionally, the five days must a weekend.</span></div>
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<span class="blog_post_h2">“Along with our regulator, the Federal Housing Finance Authority (FHFA), <a href="http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=293781" style="color: #1e77b9;" target="_blank" title="Freddie Mac Fannie Mae short sales">we decided to take this step in response to Realtors’ concerns</a>,” says Jane Severn, director of marketing at Fannie Mae. “We’ve had cases where a short sale property is listed in the MLS as ‘active’ and, in less than an hour, it goes into ‘pending’ status.”</span></div>
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<span class="blog_post_h2">“Realtors should identify any short-sale listings that would require approval by Fannie Mae or Freddie Mac,” Grant says. “If the new rules apply to a listing added to the MLS after Aug. 1, we recommend that agents put a disclaimer in MLS comments telling cooperating brokers that the seller must keep the listing active for five days, including a weekend. This disclaimer would allow cooperating agents to structure their offers accordingly.”</span></div>
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<span class="blog_post_h2">Grant says it’s important to remember two things: <a href="http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=293781" style="color: #1e77b9;" target="_blank" title="fannie mae freddie mac short sales">that the new rule only affects Fannie Mae and Freddie Mac short sales;</a> and, though it directly affects sellers, it also indirectly impacts buyers’ offers.</span></div>
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<span class="blog_post_h2"><img alt="fannie mae short sales" height="305" src="http://activerain.com/image_store/uploads/3/0/1/6/0/450x305xar137387454406103.jpg.pagespeed.ic.mPALa62YhD.jpg" style="border: 0px;" title="freddie mac short sales" width="450" /></span></div>
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<span class="blog_post_h2">Severn says Fannie Mae wants their “short sale listings to be marketed in a manner that allows the market to see the listing.” She notes that their current policy for properties Fannie Mae owns (REO listings) reflects the same philosophy since Fannie Mae won’t evaluate offers until the listing has been in the MLS and “active” for at least three days.</span></div>
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<span class="blog_post_h2">Under Fannie Mae and Freddie Mac’s rules, the short sale property must be listed in an MLS that covers its geographic area, and a printed copy of the property’s MLS listing must be kept on file. If a property is located in an area not covered by an MLS, it must be advertised in a manner customary for the same period of time – at least five consecutive calendar days that includes one weekend.</span></div>
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<span class="blog_post_h2">Paddy Deighan JD Ph.D</span></div>
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<span class="blog_post_h2"><a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="Paddy Deighan">http:://www.homesavers.pro</a></span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-33260134792422265302013-07-11T00:12:00.005-07:002013-07-11T00:12:49.297-07:00Number of Deficiency Judgment Lawsuit on the RISE!!<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong>There are a dramatic number of <a href="http://banking.about.com/od/loans/a/deficiencyjudg.htm" style="color: #1e77b9;" target="_blank" title="deficiency judgment">deficiency judgment</a> lawsuits being filed. Many experts predicted this and it is happening. There is just too much money sitting out there for the lenders to ignore. Many states have lengthy statute of limitations and lenders are taking advantage of it. Additionally, many home owners who were in distress are now financially stable and this makes them an easier target.</strong></div>
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<strong>Home owners quickly breathe a sigh of relief when the short sale is completed. However, for many owners, this is the start of their problems. In the past, it was possible to get a “waiver” of deficiency as part of the short sale negotiation process. However, it is rare to receive a waiver today. You can ask for a waiver, but in all likelihood, it will not be granted.</strong></div>
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<strong><span class="blog_post_h3" style="font-size: 18px; text-decoration: underline;"><em>So, what can you do??</em></span></strong></div>
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<strong>The first thing to do is determine what the lender must do in order to enforce its rights relative to the deficiency judgment. In some judicial foreclosure cases, the lender has also received the right to seek a <a href="http://en.wikipedia.org/wiki/Deficiency_judgment" style="color: #1e77b9;" target="_blank" title="deficiency judgment">deficiency judgment</a> when it received its final judgment. In other situations, the lender must take the additional step and file a lawsuit in order to seek a deficiency judgment. Many home owners transfer assets out of their name when they believe that they are going to be sued on a deficiency judgment. By then, it is too late as the lender has already performed an asset check PRIOR to filing the deficiency judgment complaint.</strong></div>
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<strong>It is also interesting to note that the junior lien holders are more likely to pursue a deficiency judgment!! The reason for this is that they frequently received a very small percentage of the loan balance during the short sale. There is no seniority when it comes to a deficiency judgment. The junior lien holders have as much chance of receiving judgment as the superior lien holders.</strong></div>
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<strong>There are measures that can be taken by prudent short sellers….</strong></div>
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<strong>Paddy Deighan J.D. Ph.D</strong></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="paddy deighan"><strong>http://www.homesavers.pro</strong></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-1227088695238104192013-07-06T21:19:00.003-07:002013-07-06T21:19:24.919-07:00New York Puts Foreclosure Abuse Settlement Funds to Good Use<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_text blog_post_h3 blog_post_h2"><strong>New York is making best use of the money that it received from the Attorney General foreclosure lawsuit. New York attorney general Eric Schneiderman played a key role in negotiating the settlement and he earned significant money for his own state. In last year’s foreclosure abuse settlement with five of the country’s largest banks Mr. Scheiderman announced this week that he will I use $20 million of that money to “rebuild and restore neighborhoods hit hard by the housing crisis.” Schneiderman noted that his office has already provided “roughly $2 billion in relief to homeowners throughout the state, <a href="http://nationalmortgageprofessional.com/news39614/NY-AG-Schneiderman-Use-%2420-Million-From-Servicing-Settlement-Rebuild-Neighborhods" style="color: #1e77b9;" target="_blank" title="foreclosure settlement">but it’s not nearly enough</a>”. He believes that the key to truly effecting a recovery lies in empowering his state’s land banks, which can acquire vacant, abandoned, or foreclosed properties and then rebuild, demolish, or redesign them. Mr. Schneiderman believes that the land banks will best be able to truly “empower local communities to rebuild their own neighborhoods” and said that his office will “invite competitive proposals from land banks to directly address the effects and aftermath of the foreclosure crisis.”</strong></span></div>
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<span class="blog_post_text blog_post_h3 blog_post_h2"><strong>Schneiderman is presently engaged in suing – and re-suing – several banks for foreclosure abuse in New York and for failing to honor the terms of the foreclosure abuse settlement from last year. His movement in support of landbanks actually could result in increased foreclosures in some areas of the state since land banks often seize control of property via tax delinquency. In Syracuse, nine percent of all property is<a href="http://www.syracuse.com/news/index.ssf/2013/06/attorney_general_schneiderman_1.html" style="color: #1e77b9;" target="_blank" title="foreclosure settlment">eligible for seizure due to property tax delinquency at this time</a>. However, land banks tend to focus on properties that are not being maintained or that have been abandoned rather than inhabited homes. The land banks have previously been reluctant to seize property because there were no ready buyers for the properties and they did not have the funds to rebuild, restore, or maintain on their own.</strong></span></div>
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<span class="blog_post_text blog_post_h3 blog_post_h2"><strong>Paddy Deighan J.D. Ph.D</strong></span></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="paddy deighan"><span class="blog_post_text blog_post_h3 blog_post_h2"><strong>http://www.homesavers.pro</strong></span></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-23803975545350160852013-07-06T15:29:00.004-07:002013-07-06T15:29:52.237-07:00NEW Fannie Mae and Freddie Mac Loan Modification Programs<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h3" style="font-family: 'Droid Seriff'; font-size: 14px;"><strong>There is additional (hopefully) good news in regard to loan modifications. Fannie Mae and Freddie Mac want to change the terms of your mortgage – AND, best of all…they want to do so QUICKLY!!! Yes, Government and quickly can exist in the same sentence sometimes!! </strong></span></div>
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<span class="blog_post_h3" style="font-family: 'Droid Seriff'; font-size: 14px;"><strong>The Troublesome Twins may hopefully get something right and actually help many home owners with their distressed real estate. At least, that’s what many homeowners with GSE (Government Service Entity)-backed mortgages are hoping to hear this week as the Federal Home Financing Agency (FHFA) initiates its Streamlined Modification Initiative (SMI) this week. Lenders will be responsible for contacting homeowners and offering them modifications with no paperwork. The homeowner simply will have to make three months’ worth of on-time payments <a href="http://realtormag.realtor.org/daily-news/2013/07/01/lenders-begin-streamlined-modifications-week" style="color: #1e77b9;" target="_blank" title="Fannie Mae Freddie Mac loan modification">for the modification to become permanent</a>. Although the GSEs will not actually reduce principals on loans at this time under THIS program, they could reduce interest rates or extend the life of loans by as much as a decade in order to reduce monthly payments by hundreds of dollars.</strong></span></div>
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<span class="blog_post_h3" style="font-family: 'Droid Seriff'; font-size: 14px;"><strong>In order to qualify for the program, homeowners must have loans at least 12 months old, be no more than 24 months behind on payments, and have principal balances of <a href="http://money.cnn.com/2013/07/01/real_estate/mortgage-payments/" style="color: #1e77b9;" target="_blank" title="fannie mae freddie mac loan modifications">at least 80 percent of the value of their homes</a>. SMI is scheduled to last through December 2015. The GSEs are encouraging homeowners to contact their lenders if they are experiencing financial hardship rather than waiting for an SMI offer because “in many cases working with the servicer to document the homeowner’s financial situation [something left out of the “streamlined” process] <a href="http://www.freddiemac.com/singlefamily/service/docs/streamlined_mod_faq.pdf" style="color: #1e77b9;" target="_blank" title="fannie mae loan modification freddie mac loan modification">will create a more affordable monthly payment</a> than would be available under [SMI]”.</strong></span></div>
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<span class="blog_post_h3" style="font-family: 'Droid Seriff'; font-size: 14px;"><strong>It is widely believed that this is a limited program and even though it will last for 2.5 years, the number of home owners that will receive loan modifications is unknown. It is also unkown the criteria to be utilized in the determination of who gets relief.</strong></span></div>
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<span class="blog_post_h3" style="font-family: 'Droid Seriff'; font-size: 14px;"><strong>Paddy Deighan J.D. Ph.D</strong></span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-50048946560570079212013-07-06T14:45:00.000-07:002013-07-06T14:45:02.968-07:00Ocwen Acquires Indy Mac / One West Servicing<div dir="ltr" style="text-align: left;" trbidi="on">
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">I have been surprised that there is very little in the media about this. Indy Mac is selling its servicing to <a href="http://www.ocwen.com/" style="color: #1e77b9;" target="_blank" title="Ocwen loan Modification">Ocwen</a>. IndyMac is the mortgage management division for OneWest, a bank headquartered in Pasadena, Calif. OneWest is the successor to IndyMac Bancorp, which was seized by the Federal Deposit Insurance Corp. in 2008. In my opinion, this will be a benefit to many home owners who are seeking Indy Mac loan modification or Indy Mac short sale.</span></div>
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">OneWest Bank Group acquired of the banking operations of IndyMac in 2009. Last week,<span class="apple-converted-space"> </span><a href="http://www.reuters.com/article/2013/06/13/ocwenfinancial-msrs-idUSL3N0EP3YF20130613" style="color: #1e77b9;" target="_blank"><strong><span style="color: #305cb6; text-decoration: none;">Ocwen Financial Corp. said it would buy mortgage servicing<span class="apple-converted-space"> </span></span></strong></a>rights from OneWest Bank for $2.53 billion. The deal includes $78 million in loans.</span></div>
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">Unfortunately sources indicated that employees in Austin, Texas (one of my favorite places in the world) twould lose some employees. Their offices in the 9th Street office would remain open but will shrink from around 300 employees down to 30 and that they believe the mortgage services will be outsourced overseas. GREAT, more servicing being transferred offshore. We all KNOW how fun that is!!!.</span></div>
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">Other news sources are reporting that the company will<a href="http://www.statesman.com/news/business/onewest-bank-to-lay-off-725-workers-in-austin/nYM58/?ecmp=editorial_facebook_post__20130617_8924314" style="color: #1e77b9;" target="_blank" title="Indy Mac loan modificarion"><span class="apple-converted-space"><strong><span style="color: #305cb6; text-decoration: none;"> </span></strong></span><strong><span style="color: #305cb6; text-decoration: none;">also lay off 725 workers in Austin.</span></strong></a></span></div>
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">Overall, I would have to say that this is good news for many home owners that have Indy Mac loans and who are seeking loan modification of short sale of their home. Indy Mac and its successor, One West has been a bear to deal with and Ocwen is quite reasonable. </span></div>
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">It appears that many experts in the financial markets have been surprised by this acquisition. However, it was the stated goal of One West investors and management that they did not intend long term ownership of former Indy Mac loans and assets. I wrote two years ago that George Soros made a sweet deal with the Obama administration when they agreed to acquire the toxic assets of Indy Mac. Indy mac was incentivized financially to foreclosure and we tax payers absorbed the losses (as opposed to Indy Mac/One West). Accordingly, the acquisition by Ocwen helps not only home owners but taxpayers as well!!! Yeah!!!</span></div>
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<span class="blog_post_h2" style="color: #363636; font-family: Georgia, serif; font-size: 13px; font-weight: bold;">Paddy Deighan J.D. Ph.D</span></div>
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<span style="color: #363636; font-family: Georgia, serif;"><a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="paddy deighan"><span class="blog_post_h2" style="color: #333333; font-family: 'Droid Seriff'; font-size: 13px; font-weight: bold;">http://www.homesavers.pro</span></a></span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-77818751754512609652013-07-06T14:39:00.001-07:002013-07-06T14:41:01.323-07:00Top Markets for Short Sales, Part 2<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: 14px;"><strong>Top Markets for Short Sales, Part 2. Last week I wrote about Las Vegas (<a href="http://activerain.com/blogsview/3776175/top-market-for-short-sales-part-i" style="color: #1e77b9;" target="_blank" title="top short sale markets">read the blog here</a>). This week, I review two more areas. Many real estate investors believe that short sales are a thing of the past. There are so many local, state, and federal regulations that govern these transactions. Regulations include how much profit you can make and in what time frame you can make the profit. Consequently, many investors have opted to pursue other investing strategies rather than continue doing short sales. However, for investors who know the best markets, the short sale, can still yield significant returns on time and money Knowing the best spots in the country for short sales can also help maximize your success in this industry. Here is the first area for hot short sales today:</strong></span></div>
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<span style="font-size: 16px; text-decoration: underline;"><strong>Most of California</strong></span></div>
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<span style="font-size: 14px;"><strong>Although the housing markets out west are improving, large parts of California are still underwater, making the state a good one if you want to focus on short sale investing. Nearly a third of California homes are underwater (27 percent), and the state boasted five of AOL Real Estate’s “top 10” short sale cities (Bakersfield, Vallejo-Fairfield, Fresno, Visalia-Porterville, and Santa Barbara). California homes take an average of 235 days to sell via short sale from the time they hit foreclosure, so, as in most states, you will have to be in the game for the “long haul,” but real estate investor are netting between $20,000 and $55,000, on average, when they sell that short sale on the open market. Many of California’s formerly hardest-hit areas, like Los Angeles, were short-sale hotbeds just a few years ago and now are recovering with staggering numbers such as 23.7 percent appreciation in Los Angeles’ case. If the same holds true for some of these other cities, in a few years you could be happy you bought and held a short sale this state.</strong></span></div>
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<span style="font-size: 16px; text-decoration: underline;"><strong>Grand Rapids, Michigan</strong></span></div>
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<span style="font-size: 14px;"><strong>Want a relatively brief short sale timeline and an average discount of around $40,000? Grand Rapids, Michigan could be the short sale capital of your real estate investing world. With “only” 191 days, on average, to close a short sale and a dramatic increase in the number of homeowners doing these transactions in the area (up 81 percent in Q4 2012), Grand Rapids homeowners and their lenders appear to be ready to make a deal with savvy short sale investors. With Michigan State University (MSU) starting to do some serious real estate development in the area, Grand Rapids also appears to be poised to enjoy some of the benefits of being a college town, such as relative insulation from real estate swings, a constant influx of new inhabitants, and the ongoing need for <a href="http://www.grbj.com/articles/77148-msu-develops-construction-strategies-for-grand-rapids-research-facility" style="color: #1e77b9;" target="_blank" title="Grand rapids Michigan">housing for students, professors, and research professionals</a>.</strong></span></div>
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<span style="font-size: 14px;"><strong>Some real estate investors say that the time for short sales is over now that so many real estate professionals are involved in the business and the federal government is attempting to regulate how much profit can be made on the transactions. I believe that short sales will be around for a long time..especially since HALF of the homes in America are under water!!!</strong></span></div>
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<a href="http://www.homesavers%2Cpro/" style="color: #1e77b9;" target="_blank" title="Paddy Deighan"><span style="font-size: 14px;"><strong>http://www.homesavers.pro</strong></span></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-87076801378338896582013-07-03T02:41:00.000-07:002013-07-03T02:41:24.115-07:00Top Market for Short Sales Part I <div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://activerain.com/blogsview/3776175/top-market-for-short-sales-part-i" rel="bookmark" style="color: #1e77b9;">Top Market for Short Sales Part I</a> </h1>
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<strong>Many real estate investors believe that short sales are a thing of the past. There are so many local, state, and federal regulations that govern these transactions. Regulations include how much profit you can make and in what time frame yo can make the profit. Consequently, many investors have opted to pursue other investing strategies rather than continue doing short sales. However, for investors who know the best markets, the short sale, can still yield significant returns on time and money Knowing the best spots in the country for short sales can also help maximize your success in this industry. Here is the first area for hot short sales today: </strong></div>
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<strong><span style="text-decoration: underline;">Las Vegas, Nevada</span></strong></div>
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<strong>The "Giant Litter Box" as I am known to affectionaltely refer to Las Vegas is experiencing fantastic appreciation these days <a href="" style="color: #1e77b9; text-decoration: underline;" target="_blank" title="Las vegas real estate market">(28 percent year-over-year</a>). However, there is still a lot of potential for bargain-hunting investors in this hardest-hit area. If you’re looking to do short sales in Las Vegas, note that the average number of days it takes to negotiate a short sale on a home already in the middle of the foreclosure process is 358 days. This is certainly not a short period of time, but that the <a href="http://realestate.aol.com/blog/on/best-cities-short-sales/#!fullscreen&slide=5704506" style="color: #1e77b9;" target="_blank" title="short sales in Las vegas">average short sale is coming in at $124,555</a> and median home price in the area coming in around $187,000 for the first quarter of 2013, <a href="http://money.cnn.com/pf/features/lists/nar_4q/price.html" style="color: #1e77b9;" target="_blank" title="las vegas short sales">it might be worth the wait</a>. Also, consider optimistic new home builders who say that their segment of the market could reach a median price of $250,000 by the end of the year. Therefore, it seems likely that Las Vegas and the surrounding area could remain “hot” for short sale investors for some time to come.</strong></div>
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<strong>Las Vegas certainly is hot right now...117 degrees in the shade hot!!! LOL Record temperature highs and hot real estate!! Who could ask for anything more!!</strong></div>
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<strong>Paddy Deighan J.D. Ph.D</strong></div>
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<strong><a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="Paddy deighan">http://www.homesavers.pro</a></strong></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-17577964220569989582013-07-03T00:33:00.000-07:002013-07-03T00:33:20.644-07:00Principal Reduction in Loan Modifications<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong><span data-mce-style="font-size: 9pt; font-family: Arial, sans-serif; color: #444444;" style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">Well,
it seems there is a bit of hypocrisy coming out of Washington for a
little change of pace. President Obama announced his nomination of
congressman Mel Watt (D-NC) for director of the Federal Housing Finance
Agency (FHFA). Many homeowners around the country were delighted by
this selection because Congressman Watt has a history of supporting
principal reduction in loan modification programs.</span></strong></div>
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<strong><span data-mce-style="font-size: 9pt; font-family: Arial, sans-serif; color: #444444;" style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">The
hope is that he will continue this position during his tenure as head
of the FHFA. Current acting director of the FHFA, Edward DeMarco, has
refused to allow Fannie Mae and Freddie Mac to include principal
write-downs in their loan modification arsenals. Demarco argues that the
practice not only jeopardizes the American taxpayers, but also rewards
poor payment history and sets a bad example. Now Watt could be causing
problems in this area himself. During his confirmation hearing in the
Senate last week, Watt said that while he would not preemptively refuse
to engage in write-downs, <a data-mce-href="http://www.thenation.com/blog/175016/will-mel-watt-back-principal-reduction#axzz2XRs5kqvA" href="http://www.thenation.com/blog/175016/will-mel-watt-back-principal-reduction#axzz2XRs5kqvA" target="_blank">he also would not endorse the policy</a>.
Instead, he promised to “study carefully how that decision [to not do
write-downs] was reached, what it was based on, and then I would build
on that new information…and make a responsible decision.”</span></strong></div>
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<strong><span data-mce-style="font-size: 9pt; font-family: Arial, sans-serif; color: #444444;" style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">Not
surprisingly, Watt’s apparent reluctance has upset many home owners who
believed that he would definitely approve the controversial measure to
engage in principal reductions as part of a loan modification program.
He has been accused of backtracking and failing his constituents. This
is particularly alarming since Watt was a vocal critic of DeMarco’s
policies as a congressman. Watt responded that while it was his
responsibility to support write-downs as a congressman because he had
many underwater borrowers in his district, as director of the FHFA he
would have to be <a data-mce-href="http://www.ft.com/cms/s/0/e7962650-df47-11e2-881f-00144feab7de.html#axzz2XpSrEwnr" href="http://www.ft.com/cms/s/0/e7962650-df47-11e2-881f-00144feab7de.html#axzz2XpSrEwnr" target="_blank">“a strong advocate for taxpayers</a>”.
Watt is likely treading lightly around this issue because one
presidential nominee to replace DeMarco has already been blocked.</span></strong></div>
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<strong><span data-mce-style="font-size: 9pt; font-family: Arial, sans-serif; color: #444444;" style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">As my Mother was known to say, “We will see what we shall see”</span></strong></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-86259889508221870292013-07-02T00:21:00.002-07:002013-07-02T00:22:17.061-07:00Litigation Reveals ASTOUNDING Claims of Abuse During Bank of America Loan Modification Applications<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong><span style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">Well, the happy news out of BofA’ville just never seems to end. Last month I read that according to their CEO, Bank of America’ problems are behind them!!!! Really?? Wall Street is buying it but I am not!!! Recent litigation has revealed numerous statements by former Bank of America employees that are ASTOUNDING and SHOCKING!!!</span></strong></div>
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<strong><span style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">According to Bank of America employees, the lender offered employees incentives for sending homeowners into foreclosure rather than modifying their loans!!! Special!!! The BofA employees stated under oath that they were “told to lie to homeowners about loan modifications and were rewarded for <a href="http://realestate.msn.com/blogs/listedblogpost.aspx?post=d53f5e0f-ac15-4ea7-9b72-50209bcbc4f9" style="color: #1e77b9;" target="_blank" title="bank of america lawsuit">sending homeowners to foreclosure rather than modifying their loans</a>”. The allegations and incriminating statements are part of the evidence being presented in a federal class-action lawsuit brought by homeowners against BofA. The homeowners say that the lender deliberately “thwarted their attempts to take advantage of the federal Home Affordable Modification Program (HAMP).” Former employees of BofA involved in the suit testified that they were “instructed to deny modifications for no reason, to pretend they had not received documents they received, to hold documents and then claim they were too old, and to cancel trial modifications for ‘nonpayment’ even when all payments had been received.” The employees also reported that the bank “drilled” into them that the longer loan modifications were delayed, the more fees the bank could collect, even if this meant “lying to customers.”</span></strong></div>
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<strong><span style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">The mortgage workers reportedly received cash bonuses and gift cards for meeting quotas for sending distressed homeowners into foreclosure. Not surprisingly, BofA has denied all of these allegations and pointed to the fact that it has, so far, helped the most homeowners under HAMP of any lender. “[BofA] is committed to assisting customers at risk of foreclosure,” <a href="http://www.charlotteobserver.com/2013/06/14/4107067/lawsuit-bofa-gave-bonuses-gift.html" style="color: #1e77b9;" target="_blank" title="bank of america lawsuit">said spokesman Rick Simon via email</a>. A former loan collector for the bank disputes this claim, saying that he received $500 for every 10 customers he put into foreclosure and adding that other collectors received gift cards to Target and Bed, Bath & Beyond for putting homeowners in trial modifications into foreclosure.</span></strong></div>
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<strong><span style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">Paddy Deighan J.D. Ph.D</span></strong></div>
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<a href="http://www.homesavers.pro/" style="color: #1e77b9;" target="_blank" title="Paddy Deighan"><strong><span style="color: #444444; font-family: Arial, sans-serif; font-size: 9pt;">http://www.homesavers.pro</span></strong></a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com1tag:blogger.com,1999:blog-2066240906240025966.post-2899884380599549512013-06-29T02:33:00.002-07:002013-06-29T02:33:29.318-07:00Results of a BRILLIANT Study<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong>Here is one for the “no kidding” category. It also is a story for the “why are we studying this” category. LOL Your ability to read and understand your home loan – and crunch the numbers yourself – plays a major role in your likelihood of default. According to a report from researchers at the Columbia Business School, the Federal Reserve of Atlanta, and the University of Zurich, borrowers who are “math-challenged” are five times more likely to default on their home loans. Of course, in these politically correct times, “mathematically challenged” may mean a lot of things. The study covered the loans of borrowers who held mortgages issued in 2006 and 2007. Twenty five percent of borrowers who scored in the lowest bracket for math skills defaulted on their mortgages within five years of getting the loan while only <a href="http://money.cnn.com/2013/06/25/real_estate/mortgage-math/index.html" style="color: #1e77b9;" target="_blank" title="Padraic Deighan">five percent of the top tier defaulted</a>. Researchers said that they covered for differences in “overall intelligence” by measuring “verbal and general IQs…math skills, and control[ing] for socioeconomic factors.” They really made certain that this “waste of time” study was done correctly.</strong></div>
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<strong><img alt="paddy deighan" height="350" src="http://activerain.com/image_store/uploads/9/6/8/7/1/232x350xar137249419917869.jpg.pagespeed.ic.CsvFBFoVJf.jpg" style="border: 0px;" title="padraic deighan" width="232" /></strong></div>
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<strong>The default numbers were not affected when the researchers separated the groups based on the type of mortgage that they had. Higher and lower-risk borrowers still defaulted along the same math-ability lines no matter what type of mortgage they took out. “Those lacking [math skills] will still get in more trouble later on even if they pick a plain vanilla mortgage,” explained Stephan Meier, one of the study’s authors. Ultimately, the difference did not occur in actual financial decision-making, but in the ability to avert a foreclosure. The authors suggested that “greater cognitive abilities may have helped <a href="http://blogs.discovermagazine.com/d-brief/2013/06/24/poor-math-skills-make-a-mortgage-default-more-likely/#.UcsPZpz3OHg" style="color: #1e77b9;" target="_blank" title="paddy deighan">some borrowers find a way out of delinquency</a>”. The only surprise here is that the study was not performed by government (tax payer) funds. LOL LOL LOL</strong></div>
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<strong>Paddy Deighan J.D. Ph.D</strong></div>
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<strong>http://www.homesavers.pro</strong></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-72050870248836565372013-06-28T22:20:00.000-07:002013-06-28T22:27:18.426-07:00If You Can Not Trust Family, Who Can You Trust<div dir="ltr" style="text-align: left;" trbidi="on">
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<strong>I was raised in a manner that "if you cannot trust family, who can you trust". Families need to stick togther and be the one place for love and support. WELL, not in this story!!!! Shocking as it may be...here is a truly sad story about an individual - war hero and his struggles and family contribution to the struggles.</strong></div>
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<strong>It is not always the bank that is the bad guy. A 92-year-old World War II veteran found this out the hard way after raising nearly $140,000 online to help him buy back his home from his daughter, who is trying to evict him. The man built the house more than five decades ago and the value of the house and land upon which it sits is about $50,000. His daughter used a power of attorney to convey the deed of the house to herself and is now seeking her father’s eviction. Upon learning of the deed transfer, the man switched power of attorney to his granddaughter, but it was too late to save the house. The daughter has refused an offer of $60,000, <a href="http://realestate.aol.com/blog/2013/06/20/vet-john-potter-eviction-2/" style="color: #1e77b9;" target="_blank">saying that $100,000 is more realistic in her eyes</a>. She also appears to believe that her father should be living in a nursing home instead of alone with part-time care. This may be a legitimate reason, but SHEEZ, she is evicting her father!!!</strong></div>
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<strong>Unfortunately, since the daughter had power of attorney and the right to transfer the deed, it appears unlikely that the situation will have a happy resolution for the veteran. Although those with power of attorney usually do not have the right to transfer assets to themselves out of the estate they oversee, in this instance the statute of limitations had <a href="http://www.huffingtonpost.com/2013/05/16/john-potter-evicted_n_3281223.html" style="color: #1e77b9;" target="_blank">passed before the deed transfer was discovered</a>. The man and his granddaughter used GoFundMe.com to raise the money to buy back his house and promise to be “completely transparent with how the money is used.” It will likely go toward <a href="http://www.blogger.com/blogger.g?blogID=2066240906240025966" style="color: #1e77b9; text-decoration: underline;" target="_blank">finding him a new home</a>. “He never thought this would happen,” said his granddaughter.</strong></div>
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<strong>Unbelievable, yet not surprising today...</strong></div>
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<strong>Paddy Deighan J.D. Ph.D</strong></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-33613521884647497382013-06-28T22:18:00.000-07:002013-06-28T22:18:09.186-07:00US Supreme Court Decides RARE Real Estate Decision<div dir="ltr" style="text-align: left;" trbidi="on">
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<b>There was a little known Supreme Court decision that did not receive the same fanfare as some of the other cases before the Court. The recent property-rights ruling went in favor of landowners and land developers. The ruling could have far-reaching effects on how government handles property owners’ decisions that “cause wider harm or social burdens” on the community. The case, Koontz v. St. Johns River Management District, revolved around the property owner (Koontz)’s desire to develop about four acres of a 14.9-acre wetland property. When Koontz sought a permit for the development from the local water management district (St. Johns), he was told that he could choose either to develop only one acre or pay for contractors to make improvements to government-owned wetlands in the <a href="http://www.theatlanticcities.com/politics/2013/06/supreme-court-just-handed-real-estate-developers-big-win/6010/" style="color: #1e77b9;" target="_blank" title="Paddy Deighan">same watershed in exchange for a full permit</a>. Koontz opted to take neither option and sued, saying that his property was essentially “taken for public use without just compensation” because he was not able to develop his land without agreeing to “extortionate demands.”</b></div>
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<b><img alt="Paddy Deighan" height="144" src="http://activerain.com/image_store/uploads/2/5/0/3/6/144x144xar137238922163052.jpg.pagespeed.ic.eeBruvpGkk.jpg" style="border: 0px;" title="Paddy Deighan" width="144" /></b></div>
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<b>Backed by the National Association of Home Builders, civil liberties groups, and property-rights advocacy groups, Koontz’ case spent 11 years working its way through the legal system. The Supreme Court ended up siding with Koontz, saying that the local watershed “impermissibly burden the right not to have property taken without just compensation” by creating a set of parameters around the receipt of the desired permit that prevented Koontz from using his own land for his own benefit. The vote was 5-4 in favor of Koontz, with Justice Alito writing in support of the decision that “land-use permit applicants are especially vulnerable to…coercion…because the government often has broad discretion to deny a permit that is worth far more than the property it would like to take” and that <a href="http://www.supremecourt.gov/opinions/12pdf/11-1447_6j37.pdf" style="color: #1e77b9;" target="_blank" title="padraic deighan ">“government…may not leverage its legitimate interest in mitigation to pursue governmental ends that lack an essential nexus and rough proportionality to [social costs of the proposal]</a>”.</b></div>
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<b>Not surprisingly, many property owners are breathing a collective sigh of relief that their rights are being further defined and protected, but critics of the decision warn that the ruling sets a dangerous precedent since technically no physical thing was taken away from Koontz. Justice Kagan, who wrote the dissenting opinion on the case, said that the ruling “threatens to subject a vast array of land-use regulations….to heightened constitutional scrutiny” and <a href="http://www.reuters.com/article/2013/06/25/us-usa-court-property-idUSBRE95O0XM20130625" style="color: #1e77b9;" target="_blank" title="Paddy Deighan">“I would not embark on so unwise an adventure”</a>. Why an I am not surprised that Justice Kagan dissented on this.....</b></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-45477763092583814622013-06-27T20:21:00.002-07:002013-06-27T20:21:30.322-07:00United States Supreme Court Issues RARE Real Estate Ruling<div dir="ltr" style="text-align: left;" trbidi="on">
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There was a little known Supreme Court decision that did not receive the same fanfare as some of the other cases before the Court. The recent property-rights ruling went in favor of landowners and land developers. The ruling could have far-reaching effects on how government handles property owners’ decisions that “cause wider harm or social burdens” on the community. The case, Koontz v. St. Johns River Management District, revolved around the property owner (Koontz)’s desire to develop about four acres of a 14.9-acre wetland property. When Koontz sought a permit for the development from the local water management district (St. Johns), he was told that he could choose either to develop only one acre or pay for contractors to make improvements to government-owned wetlands in the <a href="http://www.theatlanticcities.com/politics/2013/06/supreme-court-just-handed-real-estate-developers-big-win/6010/" style="color: #1e77b9;" target="_blank" title="Paddy Deighan">same watershed in exchange for a full permit</a>. Koontz opted to take neither option and sued, saying that his property was essentially “taken for public use without just compensation” because he was not able to develop his land without agreeing to “extortionate demands.”</div>
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<img alt="Paddy Deighan" height="144" src="http://activerain.com/image_store/uploads/2/5/0/3/6/144x144xar137238922163052.jpg.pagespeed.ic.eeBruvpGkk.jpg" style="border: 0px;" title="Paddy Deighan" width="144" /></div>
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Backed by the National Association of Home Builders, civil liberties groups, and property-rights advocacy groups, Koontz’ case spent 11 years working its way through the legal system. The Supreme Court ended up siding with Koontz, saying that the local watershed “impermissibly burden the right not to have property taken without just compensation” by creating a set of parameters around the receipt of the desired permit that prevented Koontz from using his own land for his own benefit. The vote was 5-4 in favor of Koontz, with Justice Alito writing in support of the decision that “land-use permit applicants are especially vulnerable to…coercion…because the government often has broad discretion to deny a permit that is worth far more than the property it would like to take” and that<a href="http://www.supremecourt.gov/opinions/12pdf/11-1447_6j37.pdf" style="color: #1e77b9;" target="_blank" title="padraic deighan ">“government…may not leverage its legitimate interest in mitigation to pursue governmental ends that lack an essential nexus and rough proportionality to [social costs of the proposal]</a>”.</div>
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Not surprisingly, many property owners are breathing a collective sigh of relief that their rights are being further defined and protected, but critics of the decision warn that the ruling sets a dangerous precedent since technically no physical thing was taken away from Koontz. Justice Kagan, who wrote the dissenting opinion on the case, said that the ruling “threatens to subject a vast array of land-use regulations….to heightened constitutional scrutiny” and <a href="http://www.reuters.com/article/2013/06/25/us-usa-court-property-idUSBRE95O0XM20130625" style="color: #1e77b9;" target="_blank" title="Paddy Deighan">“I would not embark on so unwise an adventure”</a>. Why an I am not surprised that Justice Kagan dissented on this.....</div>
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Paddy Deighan, J.D. Ph.D</div>
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<a href="http://www.homesavers.%2Cpro/">http://www.homesavers.,pro</a></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0tag:blogger.com,1999:blog-2066240906240025966.post-78964026932454009872013-05-28T18:34:00.001-07:002013-05-28T18:34:29.628-07:00SEO Basics as Google Implements Penguin 2.0 Part II<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Many SEO enthusiasts are in a state of panic over
announced changed to Google search engine algorithms. Google is gradually
implementing Penguin 2.0 and many are concerned that there SEO efforts will be
adversely affected.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">I decided to write some SEO basics that pertain to
most search engine since Google isn’t the only one ya know!! BING has made
significant strides lately. <o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><b><u>1. Check the Popularity of Keywords</u></b><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">In order to obtain traffic from keyword searches on
the major search engines like <a href="http://www.google.com/">Google</a>, <a href="http://www.bing.com/">BING </a>and Yahoo!, you need to be writing
about a topic that people want to read about and are actively looking for
information about. One of the easiest ways to get a basic idea of what people
are looking for online is to check the popularity of keyword searches on
websites like Wordtracker, Google Trends or the Yahoo! Buzz Index. These will
each give you a clear indication of the keywords that are being searched and
you can check many different phrases.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><b><u>2. Select Specific and Relevant Keywords</u></b><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">It is prudent to select one keyword phrase per page
then optimize that page to that keyword phrase. Keywords should be relevant to
the overall content of your page. Furthermore, choose specific keywords that
are more likely to give you a better search results ranking than a broad term
would. For example, consider how many sites use the keyword phrase of
"ancient pottery." The competition for ranking using that keyword is
likely to be tough. If you choose a more specific keyword like "13<sup>th</sup>
Century Chinese Pottery," the competition is a lot easier.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><b><u>3. Select a Keyword Phrase of 2 or 3 Words</u></b><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Statistics show that nearly 60% of keyword searches
include 2 or 3 keywords. Accordingly, optimize your pages for searches on
keyword phrases of 2 or 3 words to drive the biggest results.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><b><u>4. Use Your Keyword Phrase in Your Title</u></b><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Once you select the keyword phrase you plan to
optimize your page for, make sure you use that phrase in the title of your blog
post (or web page).<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><b><u>5. Use Your Keyword Phrase in Your Subtitle and
Headlines</u></b><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Utilizing subtitles and section headlines not only
makes the blog more visually appealing on a text heavy computer screen, but it
also gives you additional opportunities to use your keyword phrase.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Paddy Deighan JD Ph.D</span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><a href="http://www.homesavers.pro/">http://www.homesavers.pro</a></span></div>
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Anonymoushttp://www.blogger.com/profile/04872621313392611056noreply@blogger.com0