Mortgage Insurers to Allow Short Sales, Deeds-in-Lieu Without Approval
Starting November 1, 2012, if you loan is serviced by Fannie Mac or Freddie Mac, you will not have to receive approval from the mortgager insurer to proceed with a short sale. Typically, if a homeowner purchases a home and their down payment is less than 20% of the fair market value of the property, the […]
Can HARP Help?
The Home Affordable Refinance Program (“HARP”) is a federal program supported by the Obama administration which can help homeowners refinance their underwater properties. However, there are a couple major hurdles that homeowners must pass before being considered for the program. First, the homeowner’s loan must be with Fannie Mae or Freddie Mac. To determine this, simply […]
Black & LoBello on the Radio
Click here to listen to the Legal Hour on KDWN AM720 from March 21st, 2012 in which Managing Partner, Tisha Black Chernine, Esq., hosts special guest, Mark Baker from Sierra Pacific Mortgage. Ms. Black Chernine and Mr. Baker discuss what the HARP program does and how it can help people (1:50), the limits to the HARP (12:45), the pros and cons of strategic default vs. […]
Housingwire.com talks about principal reduction
Freddie Mac CEO Charles “Ed” Haldeman gave a strong signal Friday that new incentives from the Treasury Department may be enough to start principal reduction on mortgages backed by the government-sponsored enterprises. To read the full article, click here.
The Multi-State Settlement Part 3 of 3: What Should Nevadans Do
So where does the Multi-State Settlement (“MSS”) leave Nevadans? Essentially, in a slightly better position IF, and only IF, we manage our expectations, pay attention and do our homework. If we do these things we may be able to collect all the money allocated to us, pursue the “banksters” criminally and pursue our individual remedies […]
The Multi-State Settlement Part 1 of 3: What Has Happened
Wall Street knew all of the mortgages were bad when they created or bought and sold them. Furthermore, they knew the warranties of quality they made regarding the caliber of the loans, whether to the certificate purchasers of the Residential Mortgage Backed Securities (“RMBS”) pools or the Government Sponsored Entities (“GSE”), were meaningless when they […]
Black & LoBello on AM720 KDWN
Click here to listen to the Legal Hour on KDWN AM720 from January 4th, 2012 in which Managing Partner, Tisha Black Chernine, Esq., discusses recent case law regarding homeowners’ right to sue lenders under HAMP or HAFA (2:40), how to dispute NODs (4:05), the book Chasing Goldman Sachs by Suzanne McGee and what it says about how Fannie Mae and Freddie […]
President Obama Announces Improvements to HARP
The Obama Administration, by way of the Federal Housing Finance Agency (FHFA), announced a major upgrade to the Making Homes Affordable Refinance Program (HARP). This program is designed to help homeowners who owe more on their mortgage than the home is worth, so-called “underwater” mortgages. Homeowners of underwater homes cannot refinance their loans because lenders […]
Black & LoBello on the Radio
Click here to listen to the Legal Hour on KDWN AM720 from September 7th, 2011 in which Managing Partner, Tisha Black Chernine, Esq., discusses the lawsuit between Fannie Mae and Freddie Mac and 17 major banks and the arguments on either side, the Nevada Homestead Act, refinancing home loans and modification options, consumer rights under the Debt Collections […]
HARP Program Extended Through June 2012
If you are one of the few Nevada residents that is current on your mortgage and you are seeking a loan modification, good news! The Federal Housing Finance Agency has extended the Home Affordable Refinance Program to June 30, 2012. The program allows homeowners with loans administered by Fannie Mae or Freddie Mac, who are current […]