Even though the website and operations of a California foreclosure scam have been shut down for nearly a year and the perpetrator of the fraud will be spending a year in jail, one more innocent victim of the scam is still fending off legal notices, hearings and collections notices from lawyers. Why? Because when Nicolas Moscouplos of Sacramento set up Read full article »
Tag archives for Failure
Identity Theft Makes California Foreclosure Scam Even Harder to Resolve
category: Real Estate News, Real Estate Scams
Nearly Half of HAMP Participants “Fall Out” of the Program
According to the U.S. Treasury’s July report on the federal government’s “premier housing program,” HAMP (Home Affordable Modification Program), nearly half of all participants have dropped out of the program since its inception. This means that about 625,300 homeowners who received modifications on their loans failed to make their new, lowered payments and have lost their homes to foreclosure or Read full article »
category: Real Estate News
Chaos in Subsidized Housing Lines
On August 11, 2010 in a suburb of Atlanta, Georgia, nearly 30,000 people waited in sweltering heat to obtain forms to apply for government-subsidized apartments. While reports indicate that things were orderly at first, as the heat became more intense – 62 people required medical attention – the crowd got restless and pushing, shoving and altercations broke out once the Read full article »
category: Real Estate News
tags: 000 People, Atlanta Georgia, August 11, Chaos, Crowd, Crowds, Failure, Family Members, Family Pets, Government Housing, Government Officials, Government Subsidized Apartments, Housing Vouchers, Interested Parties, Mail, Medical Attention, Medications, Pets, Section 8 Housing, Subsidized Housing, Suburb Of Atlanta, Sweltering Heat
Moody’s Reports that HAMP Modifications Succeed About Half the Time
The US Treasury reported recently that it's loan modification program (HAMP) has “extremely low conversion rates” from trial to permanent in their most recent report on the program, according to Moody’s Investor Service. While that number still equates to the conversion of nearly 300,000 permanent loans, it also indicates the cancellation of 277,640 trial modifications and 3,744 permanent modifications. Interestingly, it Read full article »
category: Real Estate News
The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
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Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.