Foreclosure & Mediation Bills Reviewed with Tisha Black of Black & LoBello
Robert Jenson of The Jenson Group talks with Tisha Black of Black & LoBello about how Nevada AB 284 will add transparency to the foreclosure process and create a standard of care for the trustee which does not currently exist in the state of Nevada. They also talk about Nevada AB 300 which, among other things, seeks […]
Las Vegas Values Drop By Another 4.4%
A double-dip recession is looking like a reality. The Case-Shiller Home Price Index, the leading measure of home price in the U.S., was released today, March 29th, 2011. Of the 20 composite cities tracked, only Washington D.C. (+3.6%) and San Diego (+.01%) posted positive annual growth rates compared to January 2010. Every other MSA (Metropolitan […]
Are there any disadvantages of receiving the Home Buyers Tax Credit?
Report Indicates Nevadans are “Walking Away” From Distressed Properties
The Nevada Association of Realtors (hereinafter “NVAR”) recently released a report entitled “Face of Foreclosure.” This report paints a rather grim picture. It reports that more than 20% of Nevada homeowners have strategically defaulted and allowed a foreclosure to occur rather than pursuing other alternatives. The NVAR report explored the reason that people went to […]
Change is coming to the Home Affordable Foreclosure Alternative Program
Pursuant to the new guidelines released December 28, 2010, servicers are expected to put into place the revised guidelines on or before February 1, 2011. As a part of the updated guidelines servicers are now required to complete and send a Short Sale Agreement (SSA) to the borrower within 30 calendar days from the date […]
Foreclosure Outlook 2011
The outlook for the New Year is grim if you own a home in Las Vegas and are not paying attention to your legal rights. Likely, you are one of the two-thirds of our valley’s property owners who are in an underwater position, most being more than 50%. Since property values are expected to drop […]
Principles of principal: Should banks cut mortgages?
Should lenders be forced to reduce the principal amount owed on home mortgages that are “underwater”? The proposition probably would win the vote of homeowners in Nevada, because CoreLogic, a Santa Ana, Calif.-based analysis company, calculates that two-thirds of homeowners in the Silver State owe more than their home is worth — the highest percentage in […]
Open Letter to U.S. Regulators Regarding National Loan Servicing Standards
Click here to read the open letter. Please contact us if you believe you have have been a victim of misapplied fees or have suffered from your loan servicer’s incompetence or foul play.
Testimony in the Hearing on the TARP Foreclosure Mitigation Program
Click here to read Katherine Porter’s testimony before the Congressional Oversight Panel at the Hearing on the TARP Foreclosure Mitigation Program in which she describes how the allegations of legal errors in the foreclosure process may impact the housing markets, the soundness of banks, and the overall financial markets.
Default Servicers, Foreclosure and the Securitization Debacle
On November 16, 2010, the Senate Committee on Banking Housing and Urban Affairs held a hearing on Mortgage Services and Foreclosure Practices which included, Bank of America, among other lending institutions, along with consumer advocates and academics. Coincidentally, the Congressional Oversight Panel has recently produced a 127-page report, “Examining the Consequences of Mortgage Irregularities for Financial […]