Interesting article in USA Today about pending lawsuits filed by homeowners who jumped through all the hoops to get a HAMP loan modification, were given a trail modification which they successfully completed, only to be turned down and told to immediately pay the difference between their trail payments and their higher original payments or lose [...]
Following up on an earlier post, Fannie Mae Cracking Down On Strategic Defaulters Moody’s says Fannie Mae’s latest step may increase awareness of the strategic default issue and deter some borrowers who might be contemplating such a move, but there are definite hurdles to implementing such a policy. Hat Tip DSNews.com In the case of [...]
There is another pending foreclosure near the University of Phoenix Stadium, besides the vacant land owned by the Bidwill family. A notice of trustee sale was issued recently for the 40,000-square-foot building at 91st Avenue and Coyotes Boulevard. Hat Tip AZCentral.com The office building was built by Westgate Garden I, LLC, a subsidiary of Ellman [...]
Hat tip AZCentral.com. The family that owns the Arizona Cardinals is fending off foreclosure on land next to University of Phoenix Stadium where they had planned to build a skyscraper office tower, an organic farm, a hotel and townhomes. It really comes as no surprise that even large well funded corporations are having trouble avoiding [...]
Fannie Mae increases penalties for borrowers who walk away. “We’re taking these steps to highlight the importance of working with your servicer,” said Terence Edwards, executive vice president for credit portfolio management. “Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend [...]