image by: Dreamstime Home value in Michigan and everywhere else drops, again. Another new low in home prices. But, hey, we hit bottom, the rebound is just around the corner? Uh, no. From the Washington Post story linked to above: ““The trend is down and there are few, if any, signs in the numbers that…
Category Archives: foreclosure
Homeowner Help? Or Government Sellout?
The long awaited on again, off again, multi-state settlement between the Attorneys General of our various states and the mortgage company rapists, uh, crooks, is apparently on again. Unless this is your first trip to this blog, let me end the suspense: the proposed settlement is: image credit: dreamstime Sorry to ruin the ending. What…
Bankruptcy Still Offers Mortgage Debt Relief
I talk to so many people trying to keep their homes, or, even rental properties, who are unaware that bankruptcy law still offers some remedies for Michigan foreclosure issues. image credit: dreamstime Say you bought a house with a friend or relative when you were younger, then moved into a bigger residence when you got…
MERS Says No Mas! To Michigan Foreclosures
No mas! MERS is folding up its tent as far as foreclosing in its own name, or filing pleadings in bankruptcy court in its own name, as it told is clients they have to get an assignment from MERS, and then file stuff in their own name. No more MERS foreclosures in Michigan. Our Michigan…
Michigan Bankruptcy Mortgage Options (Part Two)
This is the conclusion of a two part series, part one on bankruptcy mortgage options can be found here. Now, you cannot force the mortgage company to foreclose, or take your house back. They might agree to a short sale, but, as with a modification, you cannot force it on them. They might accept a…
Michigan Bankruptcy Mortgage Options
MICHIGAN BANKRUPTCY MORTGAGE OPTIONS Part One You owe more on your mortgage than your house is worth, you want to leave, what are your options? You Cannot Afford The Payments If you cannot afford the payments, you will not be able to keep your house, unless you get a modification from the mortgage company. You…
Michigan Foreclosure: The Big Picture
What do the statistics tell us about the big picture for our economy now? That there will be more bankruptcies in Detroit, and everywhere else in Michigan, and the U.S. The foreclosure crisis continues, if you want chapter and verse, read “Reckless Endangerment.” Foreclosure sales are declining, but in judicial foreclosure states, which Michigan is…
The Truth About Mortgage Company Records
Its later than you think. What the economists call the “macro” factors are bad. Leading the way? Our friends, the banks! Mortgage companies continue to lie about their books and records. And won’t show them to the government without being forced. Some of these issues have come up in the MERS and robo-signing scandals. Photo…
The MERS Decision Story
Fallout from the Michigan Court of Appeals decision tossing out two foreclosures by MERS is sweeping the state of Michigan. Had a call yesterday from someone whose closing was canceled at the last minute, because, MERS had done the foreclosure and quit claimed the property to the bank, which had agreed to sell the home…
The Truth About Michigan Foreclosure Law Changes
Less than two years ago, Michigan foreclosure law was changed in the face of the greatest foreclosure crisis since the Great Depression. Mortgage companies were required to send an initial foreclosure notice that gave the homeowner the opportunity to request a modification. If he did so, the house went off the foreclosure track for 90…
