Archive for the ‘short sale’ Category
What is Strategic Default and Why? Why Can Mortgage Bankers Walk on Their Mortgage?
Author: Matthew D. Weidner, Esq.
What is Fraudclosure? Listen to a (former) US Congressman Explain It…
Author: Matthew D. Weidner, Esq.
Short Sale Hell- The System Stacked Against You From The Begining….
Author: Matthew D. Weidner, Esq.
Get a job, work hard, buy a home and live the American dream.
That was the mantra Amanda Powell, 26, and Justin Cichowski, 28, were chanting when they bought a two-bedroom unit in the Summerside condominium complex in May 2006.
Today, Powell and Cichowski are victims of the Great Recession’s housing slide, starting over as renters with damaged credit.
For the past five years, much of the debate about the housing crisis has pitted caricatures of irresponsible bankers against irresponsible borrowers. But Powell and Cichowski are the more typical victims.
Like so many who came of age during the boom, or were transferred to a new city or faced a life change that led to a home purchase, Powell and Cichowski did what generations before them have done. They got a job, worked hard and bought a home.
Loan Modification Scams Are A Great And Real Threat to All Homeowners- PLEASE WATCH
Author: Matthew D. Weidner, Esq.
SHORT SALES, FLORIDA ASSOCIATION OF REALTORS AND SELLER/REALTOR SHORT SALE LIABILITY
Author: Matthew D. Weidner, Esq.
Realtors across the state are exposed to massive liability every time they have consummate a short sale transaction because the previous version Short Sale Addendum form prepared by the Florida Association of Realtors completely ignores the liability faced by homeowners for a deficiency judgment.
I first altered the Realtors I work with and the Florida Association of Realtors to this problem shortly after I started seeing the prior addendum over a year ago, and it appears that they have finally accepted this message. The attached Short Sale Addendum, revised in June 2010 includes the exactly language that I have been directing my Realtor clients to use. For every Realtor and seller under contract, this addendum should be replace the prior contract that is part of the transaction
Short sales still present massive liability for all parties and it is absolutely critical that sellers and all agents involved in these transactions obtain the advice of an experienced foreclosure defense attorney. Review my blog and contact me directly for more information about this important issue.
Bank of America- Short Sale Chaos!
Author: Matthew D. Weidner, Esq.
As I communicate with other attorneys, title companies and other parties who are involved in short sales, I am struck by the consensus of opinion that Bank of America is impossible to deal with or obtain any answers in a timely fashion to short sale requests.
Bank of America, more than any other institution has benefitted greatly from federal bailout money. What in God’s name are they doing with all this money when they sure don’t seem to be doing anything to actually benefit consumers? My personal experience with Bank of America has been just maddening….I’ve been told time and time again that documents have been received and that a decision will be made, only to be told later that no documents at all have been recieved…What in God’s is going on at Bank of America?
Only those inside really know, but I suspect that because Bank of America is fat and happy with the federal dollars we’ve given that they’ve lost any incentive to work with borrowers….we apparently still haven’t learned our lesson.
