Oceanside Home Loan Advocates

07/31/2011

New blog post about options for people facing foreclosure. Please help spread this important information with your friend network by clicking the share button below.

Oceanside CA – If you’re facing foreclosure, then you are probably under stress. You don’t know what is going to happen. How long will it take before the bank kicks us out on the street? Will I owe my lender a ton of money? Will I ever get my life back? That’s why we put this site together. You need

07/27/2011

First blog post! A mini intro.

Oceanside CA – The Oceanside Home Loan Advocates was started because we are concerned by the foreclosure crisis affecting America. Rather than just sit idly by and do nothing, we decided to take action. That’s how we got started. We want to help families keep their sanity through difficult times.

07/26/2011

Wow! This is important news! Ocwen is now lowering the mortgage balance if a borrower is current on their modified payments. The borrower does have to split equity gained after 3 years, but this one looks promising. Get the word out if you know someone with an Ocwen mortgage!!

07/23/2011

Great advice from the FBI at the end of the article. How does the old saying go? If it sounds too good to be true...

Foreclosure relief fraud accused Jeff McGrue was found guilty and sentenced to 25 years in federal prison. McGrue was accused of executing a scheme by which property owners facing foreclosure were promised mortgage relief and lenders were sent fake notes totaling $55 million.

07/23/2011

Washington State has an interesting law that just went into effect, however, I question its intent. Either you qualify for a loan mod or you don't. If you don't have a job, its hard to qualify for a loan modification. At that point, you would just consider a short sale, take the bank incentives and move on. By doing this, Washington may have moved forward their shadow inventory problem another 2-3 years.

The state's new Foreclosure Fairness Act takes effect today (Friday). It requires that distressed homeowners be given the chance to seek mediation before banks can foreclose. Housing counselors say their phones are ringing off the hook as homeowners seize this new opportunity.

07/21/2011

The demand for information to help families with loan modification is there, but where are the boots on the ground? Why aren't Realtors and loan officers doing more? Why do lawyers charge up front to just take a look? Why not empower homeowners to do it themselves instead of fleecing them for money? Do you really think the banks are going to save you by themselves?

MODESTO, CA - More than four hundred families in danger of losing their homes lined up for a free mortgage modification workshop Wednesday and Thursday, with Wells Fargo bankers on hand to assist. The bank flew in several dozen home loan specialists from the East Coast and other points around the c

07/21/2011

Interesting Brookings Institution article shows the US is pretty much par for the course when compared to other major economies after a financial crisis. Of note: housing prices do not recover to pre-financial collapse levels even decades into the future.

More than two years after the official start of the recovery, the U.S. economy is still suffering from slow growth and high unemployment. William Galston examines the reasons for the economic stagnation, and argues that the Obama administration should address the housing crisis successfully in order

07/19/2011

Just another reminder on why you cannot trust anyone else with something as important as your loan modification. Also, never pay anyone upfront.

VIRGINIA BEACH A Virginia Beach-based company has agreed to pay $54,200 to settle allegations that it charged homeowners facing foreclosure thousands in illegal upfront fees to help save their homes, Virginia Attorney General Ken Cuccinelli announced

07/18/2011

In possibly the most important piece of California legislation this year, distressed home sellers are guaranteed by law if they do a SHORT SALE, that the bank cannot come after them for the deficiency on the first AND second mortgage. They get to walk away owing NOTHING. And no, I don't believe the law is retroactive.

Breaking San Diego news from The San Diego Union-Tribune: Classifieds, entertainment, sports, hotels and visitor information

07/18/2011

Because the bank is technically breaking the Servicemembers Civil Relief Act, Collette should be able to get his penalties and fees waived to make good. But, the lesson is always treat banks like Soviet Russia. Trust, but verify.

The debate over JPMorgan Chase’s upcoming foreclosure of a U.S. soldier’s family home while he is fighting in Iraq rages on.