Some cases also show that mortgages that are supposedly finished due to refinancing are coming back and haunting homeowners. Others who paid in full or through a bankruptcy program are also becoming victims. Worse, homeowners who never had a mortgage are also falling prey. Homeowners claim that repo men are going to their work and harassing them in front of co-workers. They even send threatening letters and phone calls endlessly. One situation reveals that a particular homeowner, after visiting her accountant, learned that she was sued for a foreclosed house that she sold many years ago. The bank said that she had a delinquent account with them. The truth later revealed that fault was with the bank’s encoding error.  The amount of the money allegedly owed by the homeowner amounted to $1.00.

These situations regarding mortgages and foreclosure have made the banks the current subject of many investigations, complaints and lawsuits. With regards to this, the recording systems of mortgage lenders and banks should be improved to avoid these circumstances. Many people are having to go to court even if there is really no case in the first place. Several U.S. Attorney’s General are working with the federal government, and an investigation is still necessary to gather more facts and information.

While these realities are happening in the US and also in other areas, it is important that you fight for your rights as a citizen. Especially if you believe that you have not failed in your responsibilities and following laws and policies.

It dies seem that there are a few states including Florida where the banks are attempting to “buy back” properties from home owners but I haven’t seen a lot of activity or press on this attempt. There also is an uptick in the amount of foreclosures and many say this is due to back log that happened from the robo signing debacle early last year.

But what disturbs me the most in all this is the Federal Reserve’s participation. Whether you like Ron Paul or not he is bringing a lot of things to light about the validity of the Federal Reserve. There seems to be no accountability in place to audit and “see where the money is going”, which is a gross oversight of our government that should be corrected.

I challenge you to find out what part the Federal Reserve played in the recent crisis. I also challenge you to find out how the banks, who supposedly lost millions if not billions of dollars, have made money when they are losing so much in housing and credit cards based on the current economy. The numbers do not add up. My dad was a math teacher and one thing he used to say was this; “Numbers DO NOT LIE!”

America needs to get at the bottom of the numbers game and find out what is really going on. Though it may not affect you this time, your name might be on the list the next go round if we don’t stop it now.

Ask questions, ask questions and ask more questions until our representatives make it a point to get us the answers.

Unlike the previous post, this is not about mortgage relief programs. This is about the crisis around mortgages and foreclosures and why I am coming to the conclusion that this entire housing issue was a setup. I say this because there is way too much information that cannot be readily found having to do with the relationship between the banks, the Federal Reserve and Insurers. In fact, if you were to go search right now you will pull up little outside of regulatory information about the relationship between the bank foreclosures and the Fed. However, there is reason to believe they have a very close relationship. What it is, I can’t be sure but I sure do have some questions that I think need to be answered and over the next few weeks I will get to that.

But first, I would like to ask you a question; If I owed you $1,000 and was making payments of $50 to you a month then I lost my ability to pay you back that much would you negotiate with me to get as much of your money back as possible? I am making a leap here and saying that most sane people would, in fact, negotiate with me.

Now let’s say I bought a rare coin from you for $1,000 and it ended up not being so rare at all and was found to be worth only $500. I contacted you after paying you $100 of what I owed you and let you know that the value of that coin was not $1,000 as we both believed and that I am willing to just return the coin to you or negotiate and pay based on the REAL value of the coin. If this was the case then you might have several options based things that I might or might not know.

First, you may want the coin returned knowing you can shine it up and sell it to another sucker for that $1,000 price tag. You can also just renegotiate the payment based on the $500 real value of the coin. However, if you had an agreement with a coin collector that said he guaranteed the value of the coin at $1,000 no matter what, you could in essence take the first $100 from me, get the coin valued at $500 back and take it to the coin collector who guaranteed it at $1,000 and get that much from him; PLUS keep the coin to resell for another $500.

Because I didn’t know there was a guarantee placed on the value of the coin, I would think your best option is to renegotiate with me and get $500 for the coin; it’s real value. After realizing the relationship you have with this coin collector (who by-the-way manufactured the coin in the first place)it makes sense to me that you would take the $100, the $1,000 and then resell the coin for another $500; turning a $1,000 coin into one worth $1,600.

With this in mind go watch this excerpt from 60 Minutes called There Goes the Neighborhood and just think about decisions the banks are making in this community.

With all the options and amount of information on different foreclosure and mortgage relief programs that pop up all the time, it’s hard to know what to do or where to turn. Believe it or not, from my limited research, there are well over 250 “mortgage programs” for either loan modification or foreclosure relief being advertised or offered. Some are government related, some are through law firms and others through non-profits groups or consumer advocate groups or agencies.

Which ones are legit? What is the best one for your situation? Who can you talk to that can help you figure out what to do? All legitimate questions that any smart person would ask.

First of all, do not call me! I am not the right person to talk to about this. However, I feel good recommending you to a website called www.relieveyourdebt.com. There you can read about the different scams other people have had the pleasure of going through as well as the 2 to 3 programs that are recommended for people who need some type of mortgage relief.

I have only listened in on one of the webinars and Mr. Doug Johnson, the debt relief advocate who is vetting these programs and helping people get exposed to them, recommends to every person that they listen to ALL the webinars, thus all the options for their given situation. Once you have been exposed to the programs you have the best and latest information to make a decision to see if one of these programs is for you or not.

I know Doug is not an attorney because I asked him. He’s just a guy who has seen the damage done by banks and financial institutions over the years and has decided to do the research and help people. You can read more about Doug here.

For those that know me personally, you know I don’t a have problem thinking out of the box and these programs are out of the box programs. Sometimes, it’s just what you have to do.

Yet the reality is Nashville is doing well comparatively. There has been a rumbling as of late that more and more transactions are for retail residential properties and not distressed properties that have been the dominate transaction for awhile now. The reason this is good news is it means people are now looking beyond the “deal” to get homes they want to live in right away. It also means that sellers have a chance against the glut of distressed sellers and foreclosed properties.

While there are still a lot of bank owned properties and homes that have agreements for short sales, the banks are so far behind on many of these transactions that buyers tire of waiting and turn to buying homes that are ready to be bought and moved into quickly. This is unfortunate for the properties that are sitting on the market and wasting away. In fact, more and more homes that have gone through the process of foreclosure have to go through mold remediation before selling because they have sat without proper air ventilation. This is a cautionary tale for those waiting on these types of homes to buy.

So while there are plenty of supposed “deals” on the market, it looks like sellers are once again viable options for buyers who are ready to purchase and move in quicker than later in the Nashville, Tennessee area.

If you are in danger of foreclosing on your home, don’t be ashamed. Financial hardships happen to most families, and there is help out there. Speak with your bank or mortgage lender to see if there are any refinancing options for you that will allow you to stay in your home. If there are no other options, and you are forced to foreclose on your home, there are plenty of affordable rental properties available for families of any size. Foreclosure isn’t pretty, and affects way too many Americans. Mortgage companies can take a lot of responsibility for giving loans to people that can’t afford to pay them. No matter whose fault it is, foreclosing on a home is an unpleasant experience that should be avoided. Take the necessary steps to protect yourself against foreclosure.

During a short sale, the bank or mortgage company may decide to sell the home for less than the borrower owes. While this is undesirable for the bank, because they are often left with a monetary loss, it is sometimes a preferred option for avoiding foreclosure. While the home is sold, this does not necessarily mean the homeowner is completely exempt from paying back the remaining money they owe, and it is important to speak with your lender to understand the specifics of your short sale. It is also important to realize that, while an option often used, the short sale is generally a decision met due to a shortage of other options. In other words, if the borrower simply cannot, and has not paid their mortgage, and bank will decide to short sell to solve the problem in the most economically efficient way possible. If you are in danger of foreclosing on your home, speak to your lender about your short sale options.

HUD offers help and advice from experienced housing counselors that are available to answer a variety of questions from first time homeowners. From figuring out how much you can afford, to helping you sort out your mortgage payments and closing costs, HUD can give valuable advice to those just starting out. What’s more, HUD has a plethora of information on their website including interesting articles ranging from topics like how to avoid predatory loans, to what type of loan is right for you. The U.S. Department of Housing and Urban Development wants to help you find the right home at the right price. If you’re thinking about buying a home, speak to professionals who are dedicated to helping you. Contact HUD today to learn more about how they can help you.

First of all, THDA was designed and still works to get buyers who may not otherwise be able to get into a home, into a home. There was never a reason to think of unwinding the bond that governs the THDA loan process due to what has gone on in the economy. So you are clear, there is a bond attached to the THDA loans that enable THDA to do what they do. It is my understanding that once a mortgage is secured, or wrapped, with the bond, it is fixed and cannot be changed.

While there are some people who have THDA loans that will have a hard time most will do very well since they have had some help through THDA. If you find yourself in trouble, the best thing to do is immediately call THDA and talk to them. No one wants you to loose your home and they will do everything they can to help. It really is up to you.

These Realtors know the new HAFA (Home Affordable Foreclosure Alternatives) law that went into effect on April 5^th, 2010 and can help you discover if you are a candidate for a HAFA short sale, can walk through a short sale quicker than most and also see if you will be able to get some moving assistance to help you get relocated.

The main reason to look into a short sale over letting your property go into foreclosure has to do with your credit. One of the best resources is this Short Sale VS Foreclosure white paper. It has a lot of good information about the differences each has on your overall credit rating and the time frames associated with each.