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One in Ten
You must read Elizabeth Warren’s post, One in Ten, at CreditSlips.org. Highlights: “So what’s the plan here? One in ten homeowners could just walk away right now. Indeed, most of them, if they were...
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I’m not paying my mortgage today.
So said a friend of mine today, who has decided to stop making his mortgage payments, let the bank foreclose on his condo, and just walk away. Mortgage payments for May are made today, and he’s not...
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Update: The Story of My Friend Foreclosure
About a month ago, I posted an entry on a friend who has decided to walk away from his condo. I’m calling him My Friend Foreclosure for fun. To be clear: I am not walking away from my condo, which is...
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Short Sale Surprises
These days, the short sale process feels like the time before my wedding. When I got engaged, a few people said “People will surprise you. You’ll be surprised at who comes and who doesn’t. You’ll be...
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The Long of the Short Sale
So much and so little is happening in Short Sale Land. It’s difficult to summarize, as nothing is even thematically clustered, so perhaps I’ll just list it all. The real estate contract (with the...
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Left Hand, Meet Right Hand
If I’ve learned anything from the short sale process, it is that one hand does not know what the other is doing, even within the same company. One part of Bank of America sold my loan to Seterus when...
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