by Phyllis Rockower | May 23, 2013 | Real Estate News Posts
Under terms of a settlement with Banks and NY attorney general, Banks are supposed to do more to help homeowners. They are are actually doing not too much in principal reduction which was supposed to be the main benefit. They are leaning heavily towards short sales...
by Phyllis Rockower | Apr 24, 2013 | Foreclosure Updates
Banks are up to their usual tricks. It seems as if nothing has changed. We pass laws and they laugh at us. Here is more proof. The IFR settlement gives loan modifications—which keeps people in their homes—and short sales “equal footing” by providing dollar for dollar...
by Phyllis Rockower | Apr 7, 2013 | Housing News
Last year the 5 biggest banks cut a deal with 49 attorney generals.They were B of A, Chase, Wells Fargo, Citigroup and Ally financial. In return for not being sued, they agreed to certain practices. No dual tracking. That means that they can’t continue with the...
by Phyllis Rockower | Mar 4, 2013 | Foreclosure Updates
When talking to sellers who are in trouble, the topic of loan modification will always come up. You need to have some basic information to give to them. First of all, there are very tight qualifications for this process and it ain’t easy. If you make too much,...
by Phyllis Rockower | Dec 11, 2012 | Uncategorized
So what’s new? 3 years ago Wells Fargo entered into an agreement with the federal govt that they would provide at least $50 million and as much as $200 million in loan mods. Guess what? They didn’t do it. Of the 66000 requests for loan mods, Wells granted...
