NATIONAL The need for a defined foreclosure timeline Both Freddie Mac and Fannie Mae representatives upheld the companies’ practice of collecting penalties from servicers who fail to meet defined timelines for processing foreclosures. It is clear now, that both Fannie and Freddie representatives aim to keep borrowers in their home, because it is the better [...]
NATIONAL Treasury wants to put the bailout to bed The Treasury Department has sent out letters to the banks that received Troubled Asset Relief Program funds expressing its will to put the bailout to bed.“They’re saying to the 380 remaining banks, ‘We want to light a fire under you to figure out how you’re going [...]
The Treasury Department has sent out letters to the banks that received Troubled Asset Relief Program funds expressing its will to put the bailout to bed. “They’re saying to the 380 remaining banks, ‘We want to light a fire under you to figure out how you’re going to get rid of Tarp,’ because they want [...]
NATIONAL Banks will gain FHA relief under foreclosure servicing settlement Government officials are likely to offer a sweetener for the banks sitting at the foreclosure servicing settlement table, by releasing these lenders from liability relating to their loss-mitigation efforts on delinquent FHA-insured loans, sources cited by the American Banker say. The deadline for resolving their [...]
Government officials are likely to offer a sweetener for the banks sitting at the foreclosure servicing settlement table, by releasing these lenders from liability relating to their loss-mitigation efforts on delinquent FHA-insured loans, sources cited by the American Banker say. The deadline for resolving their differences is Christmas, so the government is ready to give [...]
State attorneys general are working with banksters to finalize the foreclosure settlement agreement, but it looks like they are losing field each day. DsNews and the Wall Street Journal blames California Attorney General, Kamala Harris for the failure. The initial deal – at the time when California AG was still part of the committee – [...]
NATIONAL GSE penalties contributed to robo-signing? Rep. Elijah Cummings (D-Maryland) has several questions to ask from the GSEs’ regulators, such as “Did policies in place at Fannie Mae and Freddie Mac help fuel foreclosure abuses such as robo-signing?” According to documents obtained by Cummings, the nation’s two largest mortgage financiers assessed $150 million in fines [...]
Rep. Elijah Cummings (D-Maryland) has several questions to ask from the GSEs’ regulators, such as “Did policies in place at Fannie Mae and Freddie Mac help fuel foreclosure abuses such as robo-signing?” According to documents obtained by Cummings, the nation’s two largest mortgage financiers assessed $150 million in fines against servicers last year for not [...]
President Obama gave green light to a government spending bill yesterday morning which reinstalled higher conforming loan limits for the FHA (Federal Housing Administration) through the end of 2013. This means that starting yesterday, FHA can ensure loans up to $729,750 from $625,500 in the most expensive neighborhoods. An earlier proposed amendment to the bill [...]
NATIONAL Long awaited batch of Dodd-Frank rules due out soon The central bank will soon issue a long-awaited package of proposed rules, implementing the Dodd-Frank Act, Federal Reserve Board Vice Chairman Janet Yellen said. “The Federal Reserve will soon release for comment its proposed rule on enhanced prudential standards that would apply to large bank [...]
I had two properties with no renters, and both were “under water”. I had resolved myself to letting them go into foreclosure. This would have crushed my credit and I was unsettled about it to say the least.
I had a credit score of 770 and was in danger of loosing the good credit my wife and I had worked so hard to get. I decided to give Eureka a try and I am very glad I did. I just closed one loan and the other is in the process of negotiations and should close very soon.
As soon as I had this service on my side, I was able to point the creditors to them for any questions. Once the creditors had this information on file, their calls slowed to a crawl, almost overnight. I have not heard from any of the creditors from either property for a long time. I felt like I finally had someone on my side. For the first time in months, I was able to sleep without worrying about what the future held in store.
If you are in a situation where you need to sell your property and get out from under that debt, Eureka is your answer. I do not need to wish you “good luck” as Eureka will do everything they can to make your problems a thing of the past. The sooner you act, the better things will be. Give them all the information they ask for and let them take over. You’ll be glad you did.
Alan Moses
Germantown, MD
