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Real Estate Related

Experian Adding Rental Payment History to Credit Reports

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Eileen Ambrose with the Baltimore Sun is reporting today that Experian, the credit reporting company, is adding rental payment history to its credit report product. Only landlords that report information will be included. There is no determination if that information will be factored into the FICO score as of yet. Read the full article here. Get Out of Debt Guy ... Read More »

    Ramba Law Group Named in Article the Warns Consumers About Mass Joinder Suits Against Mortgage Lenders


    For quite some time now I’ve been warning people about the wave of mass joinder suits that are being marketed to consumers. The pitch is simply, you’re bank screwed you and now we are going to make them pay. All you have to do is fork over $5,000 to participate, of which the marketers, who are not lawyers, get the ... Read More »

      Banks Slashing Mortgages of Some Not in Default. Huh?


      In a weird twist of alternate reality, JP Morgan Chase and Bank of America are proactively reaching out to borrowers they have identified that are not in default and offering to modify their mortgages. The New York Times is reporting that a Miami condo owner had her Chase mortgage cut in half, and she hadn’t even asked for that to ... Read More »

        Forget About Credit. Will Anyone Be Able to Save a Down Payment to Buy a House in The Future?

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        The Center for Responsible Lending has a very interesting publication out that addresses the proposed new regulation that will mandate a 20% down payment for a residential mortgage. The 20% proposal is ridiculous and you will not that it has nothing to do with if you have good or bad credit. The new proposed large downpayment would block consumers out ... Read More »

          Apartment Rents Rising Due to Demand From Foreclosures

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          TransUnion is reporting in a recent release that due to demand for rental units after the wave of foreclosures rental prices have actually increased. For apartment complexes of more than 201 units, sixty four percent of property managers reported an increase over last year for apartment rent. “Finding reliable tenants at an optimal price point is paramount for this industry. ... Read More »

            Banks Still Foreclosing on Wrong People

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            by Paul Kiel, ProPublica Four years into the foreclosure crisis, banks say they’ve made major improvements in how they handle struggling homeowners. They’ve promised, for example, not to foreclose on homeowners who are being considered for mortgage modifications. But that’s still happening. Consider the cases of Laurie Pinkerton and Lisa Peterson. The two women, both Californians and Bank of America ... Read More »

              Housing & Economic Recovery Program PL 110-289 Mailer – Scam

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              A tipster (send in your tips here) has just sent in a new mailer that is labeled Housing & Economic Recovery Program (PL 110-289). It turns out this is just the latest version of a similar mailer I covered before in my story Deceptive Mailer – Housing & Economic Recovery Program (PL 110-289. Inside the mailer it gives a web ... Read More »

                Gerri Detweiler and I Talk About Mass Joinder Scams and Does Credit Counseling Work

                Here is the recent podcast I did with my friend and fellow debt expert Gerri Detweiler. Gerri Detweiler is a fantastic debt and credit expert who is not only an awesome person but provides exceptional advice for consumers. I’ve known Gerri since 1994 and am always really proud to work with her to help consumers. Please feel free to visit ... Read More »

                  Government to Bank of America, Wells Fargo, JPMorgan Chase – “You Suck at Loan Modifications.”

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                  by Paul Kiel ProPublica The Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules. The administration has long argued it has little power to do anything about it. But now, after millions of homeowners have been rejected, the government has ... Read More »

                    Why It Makes Sense to Consider Debt Settlement for Second Mortgages and HELOCs

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                    The debt settlement strategy has generally been limited to negotiation of unsecured debt accounts like credit card debt, store charge cards, personal loans, and medical bills. With secured debts, there is always collateral at stake, in the form of property like a home or vehicle. Given the right of secured creditors to foreclose or repossess property, it didn’t make much ... Read More »

                      Modified Mortgages Still Not Honored By Lenders

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                      by Paul Kiel ProPublica Chanel Rosario was supposed to be one of the lucky ones. After years of sending and re-sending documents, waiting on hold and attending court hearings to avoid foreclosure on her Staten Island home, she’d finally received a much-needed reduction on her mortgage. Eagerly, she and her husband signed it and mailed it in last September. “We ... Read More »

                        Precision Law Center Sends Out Misleading Form 52PLL-T Mailer. Be Careful!

                        Precision Law Center

                        I’ve written about the many mailers that have been going out as a result of marketers trying to sign up consumers in mass joinder lawsuits. Read mass joinder articles here. But the mailer a tipster (send in your tips here) just sent in appears to be extremely misleading on the outside. If you look at the outside of the mailer ... Read More »

                          Flawed Foreclosure Process Investigation Identifies Others Responsible

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                          by Marian Wang, ProPublica While federal and state officials investigating flawed foreclosures have largely focused on holding the banks accountable and bringing relief to wronged homeowners, officials in a few states have begun targeting the more obscure middlemen of the foreclosure scandal. Prosecutors in California and Illinois have sent subpoenas to Lender Processing Services, one of the largest firms that ... Read More »

                            Loan Modification Lawyers Disbarred. Christian Lawyers of America, Anything But.

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                            A tipster (send in your tips here) sent in a notice about an even that happened earlier this year but the story struck me so much I wanted to share it with you anyway. It’s a good example of what happens to lawyers who lose control of their professional ethics and allow the sale to become more important than their ... Read More »

                              Now the Mass Joinder Marketers Are Selling More BS With the Mortgage Compliance Review


                              Over the past week I’ve been getting more tips in from consumers that are being approached through fake looking mass joinder H-118 marketing mailers like the one below. As you can see from the mailer it appears to be a government or official form that appears to proclaim that you may be eligible to stop foreclosure, and seek compensation for ... Read More »

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