DECEMBER 2008

BEWARE OF CHARLATANS!!!

May 20, 2008
“Article written by one of the most knowledgeable Attorneys’ in this area of law”

More and more “professionals” are coming out of the woodwork to “help” with your mortgage. Whether you are in default, foreclosure, in the midst of sale or eviction, or just sitting with a mortgage where the note is worth more than the house, there are plenty of remedies available for you to pursue and plenty of defenses to stop the foreclosures dead in their tracks. There are even methods by which you can ...
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posted by MORTGAGE AUDIT SERVICE December 15, 2008 11:46 PM

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New Foreclosure Laws Take Effect September 6, 2008

On September 6, 2008, most foreclosures in California will need to be conducted under the new requirements of California Civil Code 2923.5. This new code provision applies to loans made from January 1, 2003, to December 31, 2007, inclusive, that is secured by residential real property and are for owner-occupied residences.

This law is aimed to stop the widespread foreclosures across the State of California by requiring Lenders to attempt workouts and modifications of existing mortgages. Failure of a lender to make such attempts could result in that lender’s inability to ...
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posted by MORTGAGE AUDIT SERVICE December 15, 2008 11:35 PM

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INSULTED JUDGE'S REVENGE

DEUTSCHE BANK LOSES KEY SUBPRIME FORECLOSURE CASE

November 15, 2007 -- A ticked off federal judge in Cleveland could complicate the subprime mortgage mess.

In a recent ruling, Judge Christopher Boyko tossed out a bunch of real estate foreclosure claims made by Deutsche Bank because he said the Wall Street firm couldn't prove that it was the owner of the property.

Worse for Deutsche Bank, a trustee for the mortgages, Judge Boyko took exception when the bank's attorney claimed the jurist just didn't understand how the complicated mortgage business works. Boyko's ...
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posted by MORTGAGE AUDIT SERVICE December 15, 2008 9:09 PM

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Mortgage 'Fix' Not Helpful to Troubled Homeowners

With one in 10 American mortgage-holders at least one month behind on their payments, the Treasury Department is coming up with yet another "fix" for the Great American Mortgage Crisis - which, not surprisingly, will do little to directly help current mortgage-holders.

Under the Treasury's latest proposal, the government would invest tens of billions of dollars to help lower the interest rate on 30-year mortgages to just 4.5 percent, which would be the lowest rate since the early 1960s.

"Wow!" you may be thinking. "Who cares about the mortgage crisis? ...
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posted by MORTGAGE AUDIT SERVICE December 09, 2008 1:59 AM

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