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 […]
Attorney at Law Feature
Be sure to pick up the latest edition of Attorney at Law Magazine featuring Tisha and the rest of the Black & LoBello team. In addition to an article feature by our very own Andras Babero, Esq. http://digitaleditions.walsworthprintgroup.com/publication/?i=118851
Black & LoBello on AM720 KDWN
Click here to listen to the Legal Hour on KDWN AM720 from March 14th, 2012 in which Managing Partner, Tisha Black Chernine, Esq., discusses medical liens on real estate (2:30), a class action suit affecting military servicemembers suffering from foreclosure (6:45)(19:10), how to check the status of a mortgage (10:00), when banks make different insurance requirements (13:35), refinancing through […]
The Multi-State Settlement Part 2 of 3: What it Really Means to Nevadans
The big “winners” in the Multi-State Settlement (“MSS”) are Florida and California who have exacted approximately half of all MSS monies between them. Regardless of these two goliath states, Nevada captured a decent amount. On any given day, Nevada ranks number one for bankruptcy filings and percentage of unemployed individuals. Furthermore, for the last five […]
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 […]
FHA Extends Waiver of Anti-Flipping Regulations Through 2012
In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA’s temporary waiver of the anti-flipping regulations. With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 […]
Am I Responsible For a Deceased Person’s House?
No. Even if you are the named Executor, a beneficiary or heir inheriting property from someone, if the deceased person is solely responsible for the mortgage and the sole title holder on to the property, you will have no personal liability for the mortgage. The mortgage company cannot make a derogatory remark on your credit […]
10 Warning Signs of Mortgage Modification and Foreclosure Rescue Scams
“Pay us $1,000 now, and we’ll save your home.” Fees that are thousands of dollars and are to be paid up front or in partial payments are a sign of potential fraud. Companies cannot collect fees until you have a written, acceptable offer from your lender or servicer and a written description of the key […]
Countrywide and Saxon Settle Wrongful Foreclosures Against Military Homeowners
Countrywide and Saxon, two home mortgage lenders, settled with the Department of Justice with regards to alleged violations of the Servicemembers Civil Relief Act (SCRA) for wrongfully foreclosing upon active duty servicemembers. The two lenders agreed to pay more than $22 million in monetary relief for the victims of their misconduct. The two lenders were accused […]