Tag Archives: mortgages


Posted 7 months ago in Elder Law Foreclosure Real Estate by Janet Raasch  
Reverse Mortgages Can Be a Trap for Elderly Homeowners

For many retired homeowners, a reverse mortgage sounds like a good idea. Today’s retirees are less likely to have a pension or enough money saved for retirement. A reverse mortgage can turn your home into a source of income. The loans can be used for any purpose, but are often used for home modifications, repairs, medical expenses or home care that elderly people might not be able to afford without the loan.   What Is a Reverse Mortgage? Reverse mortgages …

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Posted 8 months ago in Video Your Home & The Law by Matt H. Mayes  
Protect Yourself When Buying Your Home [Video]

  Analysts say if Congress shuts down Fannie Mae and Freddie Mac, the government-backed mortgage financing companies, mortgage rates are expected to rise. Plans proposed by both the House and Senate shift more risk from the government to the private sector over the next five years. On Tuesday, President Obama expressed support for modifying the government’s mortgage system. This reminded many people that now is still a good time to buy real property. If you’re thinking about buying a house, …

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Posted 10 months ago in Foreclosure Real Estate by Josh Crank  
Recent California Law Turns Tables on Mortgage Lenders

California’s groundbreaking Homeowner Bill of Rights took effect just six months ago, and the courts are already rescuing homeowners from situations that would have been hopeless in 2012. In May, Sacramento resident Kevin Singh became one of the first homeowners to use the new law to stop a foreclosure on his home. Singh fell behind on his mortgage payments when his house painting business suffered in the recession. He applied for a loan modification with Bank of America, but while …

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Posted 1 year ago in Foreclosure Real Estate by Janet Raasch  
New Rules Will Make Mortgages Safer

The residential foreclosure crisis has claimed nearly 4 million U.S. homes since 2008. At the start of 2013, it looks like the worst is over. The number of homes in the foreclosure process has reached its lowest level since the crisis began.   Dodd-Frank Overhauls Mortgage Laws During the housing bubble, many mortgage lenders operated with extremely lax underwriting standards. Often, banks failed to check documentation, to require minimum credit scores and to determine whether borrowers had enough income to …

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DocX Shutdown Part of $35M ‘Robosigning’ Fraud Settlement

The Department of Justice on Feb. 15 announced a $35 million settlement with Lender Processing Services (LPS) subsidiary DocX, stemming from the so-called “robosigning” scandal of 2010. DocX was in the business of helping mortgage servicers file the legal documents required for foreclosures.   Second Settlement, Same Song The settlement follows the government’s allegations that DocX ran a scheme for six years to forge and file more than one million mortgage documents with property recorders around the country. It follows …

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