Category Archives: Refinancing

2013 Fiscal Cliff Legislation And Its Impact On The Real Estate Industry

Posted on by Phil Querin

If  the politicians in Washington today were instead the CEOs of private industry, they’d all have been fired by now.”  Anonymous [sort of] Introduction. At the end of 2012 we all went over the Fiscal Cliff like Wile E. Coyote.  But unlike Wile E., we were able to grab a hold of a small scraggly branch on […]

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Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, GSEs, Legislation - Federal, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Realtors, Refinancing, REOs, Short Sales | Tagged , , , , , , , ,

Portland Metro Housing Prices – The Last Five Years [Part Two]

Posted on by Phil Querin

This is the second installment of my article looking back over the past five years at Portland housing statistics.  Part One examined the real reason for the housing crisis which officially commenced in 3Q 2007, and looked at the historic numbers for average and median (i.e. “mean”) sale prices according to the RMLS™. The link […]

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Posted in Deed in Lieu of Foreclosure, Fannie&Freddie, Financial Crisis, Foreclosure, GSEs, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Realtors, Refinancing, REOs, Servicers, Short Sales, Subprime Crisis, Subprime Mortgages, Trust Deeds | Tagged , , , , , , , , , , , , , , , , , , , ,

SB 1552 – Why Don’t The Big Banks Wanna Play? [Part One]

Posted on by Phil Querin

 “It’s one thing to be stubborn when relying on well-reasoned principle; it’s quite another to be stubborn relying on no principle.” Anonymous [Sort of.]    An interesting, though not surprising, article recently appeared in The Oregonian, titled: “Lenders not engaging in Oregon foreclosure mediation program.”  Before discussing what’s behind the banks’ decision, it is necessary […]

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Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Refinancing, Servicers, Trust Deeds | Tagged , , , , , , , , , , , ,

Oregon to Sign on to 50-State AG Settlement

Posted on by Phil Querin

Word has it that Oregon has agreed to sign on to the 50-state attorneys general settlement with five of the country’s largest banks: Bank of America, J.P. Morgan Chase, Wells Fargo, Ally Financial, and Citi Group.  As in all settlements, neither side will be completely satisfied, and this time is no different.  But it is […]

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Posted in Deed in Lieu of Foreclosure, Financial Crisis, Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Realtors, Refinancing, Servicers, Short Sales, Trust Deeds | Tagged , , , , , , , , ,

‘Living Wills’ For Big Banks?

Posted on by Phil Querin

It has recently been reported that Big Banks must have ‘living wills’ in place by July, 2012.  In estate planning circles, a “living will” is a document one creates in the event they should later become incapacitated or incompetent, and are unable to make important decisions for their long term care.  More to the point […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, Foreclosure Mills, GSEs, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Refinancing, Servicers | Tagged , , , , , , , ,

Belial Bank’s Conference Call Re: New Year’s Resolutions

Posted on by Phil Querin

As we approach 2012, our friends in the banking, servicing, and title industries are on their last conference call of the year; this time discussing how to put a better face on the banking industry.  Belial Bank’s President and CEO, B.L. Zebub, moderates. He has convened his trusted cronies to consider various schemes to cast […]

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Posted in B. L. Zebub, Belial Bank, Financial Crisis, Foreclosure, GSEs, Lenders, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Refinancing, Servicers | Tagged , , , , , ,

Do You Know Who Just Read Your Hardship Letter?

Posted on by Phil Querin

  Have you ever been curious about what “test” the Big Banks apply when deciding to allow short sales?  I have.  What follows is my analysis only.  Readers are free to disagree; but remember, a couple of anecdotal stories overheard at a cocktail party, do not a trend make.  There are rules and there are […]

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Posted in Deficiency Liability, Foreclosure, Legislation - Oregon, Lenders, Loan Modifications, Miscellany, Real Estate General, Real Estate/Distressed, Realtors, Refinancing, Servicers, Short Sales | Tagged , , , , , , , , , , , , , ,

HARP 2.0 – Old Wine In New Bottles

Posted on by Phil Querin

In my earlier post I was critical of the Obama Administration’s second run at jumpstarting the woefully inadequate Home Affordable Refinance Program or “HARP.”  As pointed out in my post, HARP had been an abysmal failure since its inception in 2009.  Then, on September 8, 2011, in the course of rolling out the American Jobs […]

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Posted in Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Federal, Market Conditions, Miscellany, Real Estate/Distressed, Refinancing | Tagged , , , , , , , ,
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