Home Mortgage Scandal
home foreclosures
Revelations about the sloppy home mortgage re-sale paperwork are emboldening homeowners and law enforcement officials in many states to question whether lenders rightfully hold the mortgage notes underlying foreclosed properties.
Distressed properties, many of which are in foreclosure, make up about a third of all home sales. Foreclosures are now going to slow to a crawl.
Now, Fannie Mae has been sending e-mails to real estate agents about putting off deals and removing houses from the market.
Why Pay Your Mortgage – Live Payment Free
home foreclosures
Yesterday, members of Congress from California wrote to the heads of the Justice Department, the Federal Reserve, and the Comptroller of the Currency, requesting that they investigate the foreclosure processes of banks under their purview for “possible violations of law or regulations.”
Seems California liberals are pushing to let defaulted homeowners stay in their houses right now, rent free!
I don’t think it’s too outrageous of a prediction to imagine picking up a paper years from now and read about a few people in California, Florida or Vegas who haven’t paid their mortgage for seven years.
El Cajon real estate
Governor Vetos Home Mortgage Bill
California home mortgages
Last week, Governor Schwarzenegger vetoed SB 1178 (Corbett), a California Association of Realtors sponsored bill that would have expanded anti-deficiency protections. In his veto message, the Governor made clear his view that the bill interferes with an existing contract. Read more 