Posts Tagged ‘strategic default’
Are You Ready to Fight or Will You Just Sit Back And Watch Our Country Die?
Author: Matthew D. Weidner, Esq.
Sponsored by The Stopa Law Firm, come join us
Saturday, November 20th beginning at 11:00 am for a
FREE FORECLOSURE SEMINAR
Open to the public, FREE ADMISSION
Tampa Convention Center, November 20, 2010 at 11:00am
We will discuss loan modifications, short sales,
strategic default, and other “hot button” issues
regarding foreclosure in Florida.
This seminar, rally, support group, strategic planning session is for YOU THE AMERICAN PEOPLE. The CITIZENS OF THE STATE OF FLORIDA and this whole country. We want anyone who cares about this country and in particular those who are touched by the Fraudclosure Crisis (that’s all of us) to come and attend this seminar.
This is a grass roots, come as you are, bring your friends summit where your voice and your input is even more important than those of the organizers. This country has a history and tradition of protest and dissent, but the American people have become far too passive in this Foreclosure War. The banks, the institutions, the politicians and the judges have taken notice of this and the lack of passion or protest from the American people has brought us where we are today.
YOU CAN CHANGE ALL OF THAT BY COMING OUT NEXT SATURDAY
THIS IS A DIRECT CHALLENGE TO ALL OF YOU OUT THERE. CALL YOUR FRIENDS, CALL THE TEA PARTY, CALL THE REPUBLICAN AND DEMOCRATIC PARTY. ORGANIZE YOUR FRIENDS AND DRIVE TO MEET US.
STAND UP AND MAKE YOUR VOICES HEARD!
OH GOD- HILARIOUS JON STEWART VIDEO ON STRATEGIC DEFAULT!
Author: MattWeidner
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Mortgage Bankers Association Strategic Default | ||||
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And for more hilarity, fast forward to 3:40 to hear my client’s story….it would be funny if it were not so scary true.
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| Foreclosure Crisis | ||||
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JON STEWART ON BANKERS BREAKING INTO MY CLIENT’S HOME
Should I stay or should I go? Is a “Strategic Default” the soulution to your foreclosure problem?
Author: Matthew D. Weidner, Esq.
An article in today’s Wall Street Journal poses just that question and suggests that for many people the risks and consequences of walking away from their mortgage outweigh the benefits of staying in their home and continuing to make payments, especially when the house is underwater. The full text of the article can be found here.
There are very real and potential negative consequences for homeowners but given the fact that according to First American CoreLogic, a real-estate information company, 5.3 million U.S. households have mortgage balances at least 20% higher than their homes’ value, and 2.2 million of those households are at least 50% under water, the continued liability of the home is greater than the liability associated with just walking away. The problem of underwater mortgages is concentrated in Arizona, California, Florida, Michigan and Nevada.
The problem is only going to continue to get worse as lenders are increasingly difficult to work with and the number of modifications that lenders enter into with homeowners remains extremely low. While the number of modifications is extremely low, I am not aware of any program or circumstance where lenders are reducing the principal of the loans an action that would be necessary to convince homeowners to continue making payments on an underwater home.
Banks should be actively working with homeowners to pursue deed in lieu and short sale alternatives, but the reactions from virtually all lenders I am familiar with is just painfully slow or totally non-existent.
If you are considering walking away, contact Matt Weidner at www.matweidnerlaw.com
