Bank of America to Stop Foreclosures in Nevada and Nationwide
Pursuant to articles in today’s Wall Street Journal, Bloomberg, and the Washington Post, Bank of America Corporation has placed a moratorium on all foreclosure proceedings across the U.S. to examine its foreclosure documentation problems. This includes all Bank of America owned properties in the state of Nevada. Bank of America is the first financial institution […]
Obama to Veto Notary Bill
According to the latest developments, President Obama will pocket-veto a piece of legislation that critics say would make it easier for banks to process foreclosures and make it more difficult for borrowers to challenge foreclosure documentation. The bill in question, HR 3808, passed the Senate on September 27th by unanimous consent. The House passed the […]
Bill H.R. 3808 lets banks use notary as defense against litigation
Congress recently passed Bill H.R. 3808, the Interstate Recognition of Notarizations Act of 2010 which says anything a notary signs is true, is usable (like a driver’s license) in any state, and cannot be challenged. The banking industries may use this as an answer to litigation. However, the bill is now open for public comments […]
Brooklyn judge tosses bad foreclosure filings
With foreclosure filings growing by the month, some judges are holding banks and loan servicers’ feet to the fire to prove they “own” the mortgage and that they know what information is in the filing. Read more: http://bit.ly/cnrhfz
Black & LoBello’s Quarterly Newsletter: You Have Been Served! 2.4.2010
This edition of You Have Been Served! 2.4.2010 focuses on estate planning, probate, and asset protection services offered by Black & LoBello. We have acquired some of the finest legal minds in these areas. Schedule an appointment with us today to make sure your assets and your loved one’s are properly planned for and protected.
Carlos McDade teaches for CE, CLE credit at upcoming NBI Seminar
Carlos L. McDade, Esq. will teach a class entitled, “Stay on Top of Environmental Considerations” at the National Business Institute One-Day Seminar located at the Gold Coast Casino on October 13th. Attendees can qualify for up to 6 hours of CLE and 7 hours of Real Estate CE. For more information about the […]
Fannie Mae’s new First Look program
As foreclosures increase, the nation’s largest mortgage financier has added 61,929 new REO properties to its inventory in the second quarter. In an effort to step up the unloading of these properties, FANNIE has created its First Look program. See, HomePath.com . The program is aimed at assisting owner-occupied purchasers and public entities with purchasing […]
1/3 of Americans Believe it is OK to Walk Away from Home
A survey by the Pew Research Center found that more than a third – 36 percent – of Americans believe the practice of “walking away” from their mortgage payments and their home is acceptable, at least under certain circumstances. Of the homeowners surveyed, 48 percent say the value of their home declined during the recession. […]
Map and Directions to the Town Hall Meeting THIS Weekend
Don’t miss this weekend’s FREE Town Hall meeting hosted by Prudential Americana features experts from various fields related to the Real Estate market to answer YOUR questions. This meeting will be on September 25, 2010 at 10:00 AM located at Green Valley Ranch, Conference Room La Sirena IV. Please submit any questions you would like to have answered […]
Update on the U.S. Real Estate Market
At the end of August, Lender Processing Services (LPS) reported that mortgages on 4,947,000 properties nationwide were at least 30 days past due but NOT in foreclosure. Of those, 2,374,000 were 90 or more days delinquent. The good news is that the delinquency rate of loans that are 30 days or more past due have […]