60 Minutes Special: Walking Away
The incidence of negative equity in properties is unmatched in history. 65% of residences in Nevada are drowning and the water continues to rise. See the full 60 Minutes broadcast here.
Republicans Want to End Fannie and Freddie
On Wednesday, Republicans announced a plan to wind down bailed-out mortgage-financing giants, Fannie Mae and Freddie Mac. This proposal has the potential to create some political headaches for Democrats and the Obama administration which have bet heavily on the companies’ futures. Republicans submitted the measure as an amendment to the financial-regulatory bill in the Senate. […]
Fannie Mae Shortens Wait Time to Get a New Mortgage
Fannie Mae announced a reduction in wait time for some borrowers between when they complete a deed-in-lieu of foreclosure transaction and when they can obtain a new mortgage. Previously, a borrower waited four years before getting a new mortgage. Under the new guidelines, a borrower that previously completed a deed-in-lieu of foreclosure can get a […]
Tisha Black Chernine quoted in the Las Vegas Sun
Tisha Black Chernine, Esq., is featured in the Las Vegas Sun’s article, Coldwell Banker program is similar to federal tax credit.
Two Programs Help Nevada’s Foreclosure Rate
Just as it has for the past 13 quarters, Nevada continues to lead the nation in foreclosures during the first quarter of 2010. One in every 33 Nevada housing units received a foreclosure filing which is more than four times the national average and an increase of nearly 15 percent from the previous quarter. However, […]
Homes Projected to Remain Underwater until 2020
According to the latest research by First American CoreLogic, average Las Vegas area homeowners will not return to positive equity in their homes until the year 2020. Negative equity, also referred to as “being underwater,” refers to a homeowner owing more on the mortgage than the home is worth. In the U.S., the typical underwater […]
Even High-Score Borrowers at Risk of Mortgage Default
A New York Times article explains how a high credit score won’t necessarily insulate borrowers from the home-foreclosure crisis, according to a new study from FICO.
“The Coming Second Wave” Tisha Black Chernine, Esq. quoted in Las Vegas Business Press
A Las Vegas Business Press article discusses how lenders can pursue property owners long after they default on a mortgage. Read the full story here
Columbus Accountant and Realtor Plead Guilty to Mortgage Fraud & Obstruction of Justice Conspiracies
Dennis G. Sartain of Hilliard, Ohio; and Bonnie Helt, of Columbus, Ohio, pleaded guilty on January 21, 2010, to conspiring to commit mortgage fraud, money laundering and obstruction of justice. In a press release, the Justice Department and Internal Revenue Service (IRS) announced that Sartain, the accountant for co-defendant Thomas Parenteau, pleaded guilty to one […]
Strategic Default
Voluntary strategic defaults pose a new wave of defaults hitting the already battered housing market. A strategic default is voluntary. It occurs when the borrower decides to stop making payments, or defaults on a home mortgage despite having the financial ability to make the payments. Usually, this occurs after a substantial drop in the house’s […]