LawsonGroupMediation

I reported earlier that Bank of America and others were developing plans to reduce short sale processing to only a week or two. This would necessarily require the SMI’s to speed up their processing as well. To date, I have seen no action that is shortening the process. If any of you see signs of Continue reading...

There are a lot of books and training materials available. However, after attending several short sale training seminars, purchasing expensive courses, and reading several books, I found that most of them were filled with errors? Why is there so much misinformation and errors? The main reason is that short sales have changed dramatically over the Continue reading...

Great news! Representatives Childers (D-MS) and Miller (R-CA) introdced on June 26, a bill numbered HR 3044 which calls for an 18 month moratorium on HVCC, the Home Valuation Code of Conduct that is detrimental to real estate agents everywhere. If you remember my blog about this practice, the HVCC has a number of features Continue reading...

In my 20 years of practicing law, I experienced 3 categories of attorneys who practice bankruptcy law: Those attorneys who will only file chapter 7 discharges. These attorneys do not really focus on the needs of the client, but believe that chapter 7 is the only way to go. The next category consists of attorneys Continue reading...

Attorney Keith Saks alerted me to the Protecting Tenants at Foreclosure Act which was signed into law on May 20, 2009. This law protects tenants from the foreclosure of federally-related mortgage loans, which is most of them. Under the law, a tenant with a lease may remain in the home for up to 90 days Continue reading...

On May 1st, a new agreement went into effect, called the Home Valuation Code of Conduct, or HVCC, making changes to the way appraisals are obtained. Fannie Mae and Freddie Mac will not be able to provide funding for loans that do not meet the new guidelines. The agreement prohibits mortgage brokers or loan officers Continue reading...

There are almost daily press releases concerning different lenders who are making it easier for borrowers to submit requests for a loan modification. The lenders do not want other entities, including lawyers and Realtors processing loan modifications. It is true that if the modification only requires a reduced interest rate or term of the loan, Continue reading...

From DS News, I found the following article: Reston, Virginia-based MERSCORP, Inc. (MERS) unveiled a new program on Tuesday that informs borrowers of ownership changes regarding their mortgage. The company says its program supports new federal legislation, which is designed to help homeowners keep their homes by bringing greater transparency and accountability to the mortgage Continue reading...

From the San Francisco Chronicle & Scripps Howard News Service comes this news: The federal government and some banks are trying to make it easier for stressed homeowners to sell their home for less than they owe, a transaction known as a short sale. This month the Treasury Department said it is creating a streamlined, Continue reading...

Ds News reports the following: “Freddie Mac announced on Friday that it is instituting several changes to its refinance offering under the Obama administration’s Making Home Affordable program. The McLean, Virginia-based GSE explained that the new relaxed guidelines will make the refinancing option available to a wider scope of borrowers looking for mortgage relief from Continue reading...