Thursday, November 18, 2010

If You're Going To Donate Money, Give It To A Worthy Cause

It's that time again when second rate notary listing companies seem to be inundating our inbox with offers to sign up for their service at the low, low price of $XX.  I guess they need their holiday shopping money.  Why would you spend your money on listing sites with no proven track record whatsoever?  The top notary listing sites don't need to send you constant spam email to sign up.  They're already well know in the industry.  So if you're going to donate your money, give it to the guy ringing the bell outside your favorite store instead.    

Monday, November 15, 2010

Lenders vs Lawmakers - The Rematch

Executives from Bank of America, Chase, and other major lenders face Congress in dual hearings this week.  On Tuesday and Thursday, lenders will be asked to explain issues such as robo-signing and the lack of substantial loan modifications.  Cue the Ringling Brothers music...

Saturday, November 13, 2010

Confessions Of A Robo-Signer

This is pretty damning...and pretty embarassing:

More at Huffington Post

Update 11/29/10: This video has been removed?  I'm not surprised.  Like I said, it was pretty damning.  

Friday, November 12, 2010

New Refinance Program May Help Those Previously Out Of Luck

If your home loan is owned by Fannie Mae or Freddie Mac and you're underwater, you have programs available to help you refinance.  If your loan isn't owned by Fannie Mae or Freddie Mac and you're underwater, you've been pretty much out of luck.  But maybe not for long.  In September, the FHA announced a program for homeowners who are underwater on their mortgages called the FHA short refinance option.  it’s a refinancing plan for borrowers who do not have FHA loans and are current on their mortgage payments.  The borrower must apply for the loan under standard FHA requirements including a credit check.  A minimum 500 credit score is required and the property must have a loan-to-value ratio of no more than 97.75%.  Unfortunately, the program is 100% voluntary and lenders must be willing to write off at least 10% of the original home loan. The program hasn't rolled out yet, but when it does, let's hope lenders are willing to participate.  Wishful thinking, I know...

Monday, November 8, 2010

Homeowners Claim Lenders Aren't Honoring Loan Mods

Talk about pulling the rug out from under us.  Borrowers across the nation are claiming that lenders offered them loan modifications under the Home Affordable Modification Program, set up lower payments for borrowers, and then later decided that the lower payments were not acceptable, despite the fact that the homeowners were making their required payments on time.  The lenders then reverted to the old payment and foreclosed on those who were unable to pay the higher amount.  Nice.  If the claims are true, the evidence mounts that lenders still refuse to play fair with the American people and our government continues to allow it.  

Friday, November 5, 2010

The Financial Crisis Talk Center

On Saturday mornings from 8:30 a.m. to 10:00 a.m., WDFN 1130 in Metro Detroit airs the Financial Crisis Talk Center.  The program offers discussion and advice on navigating the current mortgage and financial situation.  The FCTC website offers free seminars, resources, a discussion forum, articles, and more. 

Wednesday, November 3, 2010

Our Newest Michigan Notary Network Member

We've added another member to our growing Michigan Notary Network.  Suzie Baker is in Dexter, Michigan and provides mobile loan closings covering Washtenaw, Livingston, Lenawee, Shiawasee, Ingham, Monroe, & Wayne County, Michigan.  Suzie is a full time signing agent and has been in the mortgage and title industry for almost twenty years as a title examiner and closer.  She has the knowledge and experience to handle all your mobile closing needs.

The Michigan Notary Network Website