Apr

30
2008

Judges should have say in mortgage modifications

Marcie Geffner

The Mortgage Bankers Association recently fought off federal legislation that would have allowed bankruptcy judges to modify residential mortgages. The MBA's victory was a huge success for lenders, but an unfortunate loss for homeowners who have declared bankruptcy.

Lenders had good reason to dislike the proposal, which would have shifted some of the power over mortgages from lenders' loss-mitigation departments to bankruptcy judges, who might have imposed modifications that the lenders wouldn't have liked.  more...

Letter to Editor

Lenders should be honest about closing costs

Re: 'Best loan in today's market: fixed or adjustable?' (April 30)

Dear Editor:

In my book, choosing the right lender is simple. One needs to find a lender that will execute, in writing, a good faith estimate disclosing all closing costs accurately.  more...

Apr

28
2008

Give homeowners incentive to stay

John Vogel

We -- as a nation, as neighbors and as financial institutions -- need to find a workable solution that keeps families in their homes. With 200,000 foreclosure notices going out to homeowners every month, we need to let families know that help is on the way.  more...

Apr

29
2008

Letter to Editor

Realtor wants compensation guarantee

Re: 'Industry reacts to short-sale rule changes' (April 28)

Dear Editor:

I agree that the MLS systems NEED to adopt a ruling that all listings placed in the MLS have a guaranteed compensation percentage.

If there is no guarantee of payment, why would any Realtor show the property?

We do want what is best for our clients, but not if we are working for free.

Susan Vaughn
Realtor
Prudential Tropical Realty
Clearwater, Fla.

   more...

Apr

28
2008

Letter to Editor

Banks fall short in short-sale transactions

Re: 'Industry reacts to short-sale rule changes' (April 28)

Dear Editor:

The problem is that there are no rules, and banks are not held to any standards that Realtors or brokers are held to.

I have a number of shorts sale listings, the banks tell you that they don't want to talk to you until you have an offer. At that point they want to see a letter of financial hardship, pay stubs, listing contract, broker's price opinion, seller's net sheet and an offer.  more...

Apr

25
2008

Letter to Editor

Short-sale rules should be made with caution

Apr

24
2008

Letter to Editor

Broker wants fairness in short sales

Apr

23
2008

Letter to Editor

Servicer frustrations in Florida

Re: 'Loan servicers treading water' (April 23)

Dear Editor:

Our experience managing several short sales for investment (vacant) properties indicates a significant disconnect exists between the servicers and investors.  more...

Apr

22
2008

Where's mom when you need her?

Marc Davison

Once upon a time, you "walked in" for real estate services. A pleasant face greeted you. You had questions; helpful people had answers.

It was simple, friendly, and it worked.

You called, someone answered. You were handled, not routed through some invisible air traffic system waiting for a faceless controller to pick you up a day later with a response.

The Realtor was once a servant, performing the heavy lifting and attending to the smallest details. Making sense of things.  more...

Letter to Editor

Servicers can serve their own interests

Re: 'Why needless foreclosures happen anyway' (April 21)

Dear Editor:

Jack Guttentag says: "Servicers, in contrast, want to protect their servicing fees, which they receive only from loans in good standing. Their general preference, therefore, is for early intervention."  more...

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