A Blog by President and Founder of NCREI
21
Dec
President Bush signed legislation yesterday removing the 1099 Forgiveness of Debt issue hanging over the heads of homeowners in foreclosure. Previously if a homeowner was foreclosed on, or they did a short sale, the lender could issue a 1099 Forgiveness of Debt. This essentially said that the lender was forgiving the remaining debt that […]
10
Dec
Suggests a San Mateo Attorney in the San Francisco Chronicle.
….But unfortunately, the “freeze” is just another fraud - and like the other bailout proposals, it has nothing to do with U.S. house prices, with “working families,” keeping people in their homes or any of that nonsense.
3
Dec
One of the NCREI Investors sent an article to me yesterday referencing an interesting turn of events.
Court rulings may make it tougher for holders of mortgage-backed securities to take back the keys…
The problem stems from a shortcut that many players in the fast-moving securitization business have used in recent years. Normally, when a loan […]
2
Dec
The U.S. Treasury Department led by Henry Paulson, Treasury Secretary is working on a plan to temporarily freeze the interest rate resets common in many sub-prime mortgages. Los Angeles foreclosures predominantly have this type of loan. Will this plan avert a housing disaster locally or nationally?
1
Dec
Life is difficult. Life is nothing but a battle between dualities or dichotomies. Each side needs the other to survive, to exist. In fact, one without the other has no meaning, no reality. These days life seems to be getting grim for many good folks. Why it happens is not important because we don’t seem […]