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Robert Moreno's Blog – May 2011 Archive (3)

Breaking News: Defaulted Owners Living Payment Free For 900+ Days

New evidence is out from RealtyTrac (and CNBC) that the banks ARE sitting on homes that…in a normal world…would of been long since been…

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Added by Robert Moreno on May 20, 2011 at 2:17pm — 1 Comment

Tell Congress: 20% Down Payments Put the American Dream Out of Reach

Can new home buyers afford a 20% down payment? Could you? Can you envision what this will do to limit the buyer pool  if new regulations governing Qualified Residential Mortgages (QRM) take effect this year?



Neither can we. And neither can many elected officials in Congress who did not intend for these regulatory provisions to be so narrowly defined. We must continue our efforts to explain how detrimental the new QRM rules would be to the ongoing housing and lending crisis in…

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Added by Robert Moreno on May 18, 2011 at 12:28pm — 1 Comment

California Foreclosure Delays Stretch Imagination

 

May 16, 2011

Guest post from Sean O’Toole, ForeclosureRadar.com

Over the past month we noticed that Bank of America has been resuming foreclosures on loans originated by Countrywide. As you may recall in October BofA voluntarily imposed a foreclosure moratorium following the robo-signing scandal. We actually expected an increase in activity as lenders began to catch up after these delays and…

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Added by Robert Moreno on May 18, 2011 at 11:41am — No Comments

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