LawsonGroupMediation

In April, the Senate defeated a bill to permit mortgage cramdowns, which would have allowed a bankruptcy court to forcible modify a mortgage.  Recently, however, Barney Frank (D-Massachusetts) threatened to resurrect cramdown legislation after Treasury announced disappointing results of their modification efforts.  Frank stated that if the lenders do not increase the modifications he and Continue reading...

During the last week of July, congress passed legislation expanding a program aimed at allowing homeowners to rent the homes post-foreclosure.  The lenders prefer foreclosure over short sales (see prior blogs), so they will be strongly promoting this program as an alternative for homeowners. What they will fail to emphasize, or perhaps even disclose to Continue reading...

Short sale Realtors all have the same in common:  the length of time it takes to obtain approval adds a lot of stress to your life.  This stress affects your health, your marriage, and your overall quality of life. This blog is intended to provide some recommended steps you can take to reduce that stress, Continue reading...

Mortgage News Daily just reported that as the unemployment rate is approaching double-digits, in the first half of 2009, there have been almost 2 million foreclosure filings, more than 15% higher than the same period in 2008.  This is a massive missed business opportunity. You could say that most foreclosures are missed opportunities for short Continue reading...

Besides my career in law and a short stint as a real estate agent, I also served in law enforcement.  I was a State Trooper in Wisconsin for 9 years and a Special Agent for Maine Drug Enforcement Agency.  In addition, I was a police officer in municipalities for 4 years. As a result, I Continue reading...

Over the last two decades, a new profession has emerged and become fairly widespread in the court systems: that of the mediator.  The standards for professional mediation has become quite varied with some states requiring a doctor’s degree in areas such as law or psychology.  Other states, however, have very low standards, with no educational Continue reading...

I am often asked questions about real estate agent or broker liability.  Specifically, I am asked whether agents are held liable for only fraud or wheth an agent can be held liable for negligence as well. Rather than quote cases right now, which would distract you from understanding how to apply the law to a Continue reading...

In a news article July 8, 2009 in DS News (http://www.dsnews.com/index.php/home/news_story/3202/1/0), it is reported that over the last two years, lenders often believe they will make more money from a foreclosure than from workouts such as loan modifications and short sales.  This would especially be true of the servicing lenders. In a number of geographical Continue reading...

HUD backed properties that have sustained damage due to fire, flood, earthquate, tornado, or homeowner neglect may be sold in a short sale.  However, the lender will need to obtain prior approval from the USDHUD National Servicing Center before submitting the short sale for HUD approval.  They will first need to obtain the government’s cost Continue reading...

I am continually asked about the requirements for HUD approval.  The latest question concerned the signed HUD form 90035 and 90036.  Following is a summary of HUD requirements for an FHA loan on a property submitted for short sale approval. Remember that the servicing lender may or may not be the owner of the mortgage Continue reading...