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Well, they forced us into Chapter 13. Now since we are under Chapter 13 , Can we still have our House payments Lowered/Loan Modified. The Attorney we have don't seem to guide us well, and we are expecting that our payments will go up next month and we may end again in more trouble,Is there any way...
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I thought I'd done it all right: Excellent credit (782), documented income, 70% LTV, watched rates waiting til just the right time, applied and locked a great rate at the end of October. I'd heard of the troubles in the industry, but this is my 5th mortgage/refi, I thought it wouldn't be...
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On Friday, as thousands of offices and families across the United States debated whether the 3 colors of traditional candy corn tasted any different, the FDIC was busy . The press releases all had pretty much the same verbiage: "(Name of Bank, State) was closed today by the (State) Office of Financial...
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With all of the talk lately about owning a bank or not owning a bank, it is interesting to keep in mind some recent findings of the semi-annual MBA/STRATMOR Peer Group Survey . The study divided mid-level retail mortgage originators into two groups, one owned by banks and the other independent mortgage...
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Former Democratic presidential candidate John "I am not the father" Edwards has reportedly bought a home for his former mistress. Imagine if Tiger Woods started doing that. You could jump-start the housing market! The housing market is "hanging in there", at least based on applications...
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My clock radio went dead, so I was faced with the usual question, "Do I pay to have it repaired, or do I buy a new one?" I went to a local repair shop, and on the door was a sign that said, "WE CAN REPAIR ANYTHING. (PLEASE KNOCK - THE BELL DOESN'T WORK!)" Needless to say, I have...
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An agent recently wrote to me asking, "If prices in California are up 14% from a year ago and it's been what seems like years since I've had an appraiser indicate prices were 'declining,' then why (oh why) does every conventional loan in California still have an additional fee charged...
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The FBI is investigating a possible cyber attack on Citigroup. This is a serious issue, because next time the hackers might target a bank that actually has money. (Just kidding!) But seriously folks, JPMorgan Chase & Co., the second-largest U.S. bank by assets, announced this morning that its fourth...
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Why can't automated answering services at mortgage companies be more like the one at Nestle Crunch's Hotline at 800-295-0051? When asked if you want to continue in English or Spanish, just wait for about 10 seconds, listen to the options and press "4". Listen to the options again, and...
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Cashtration (n): The act of buying a house, which renders the subject financially impotent for an indefinite period of time. Maybe this is some "ok" news? In a story that I first noticed here on Mortgage News Daily, enactment of ML 2009-28 ("Appraiser Independence") will be delayed...