KTEH Facing the Mortgage Crisis

Fannie Mae releases Servicing Guide Announcement SVC-2010-07 an Introduction of Fannie Mae’s Home Affordable Foreclosure Alternatives Program.

It is estimated that about 20% of the homes going into foreclosure are rental properties so many victims of the Mortgage Crisis are tenants. They aren’t getting much sympathy from the banks or their property management companies. Instead renters are being handed eviction notices.
If this has happened to you or someone you know, keep [...]

Saturday June, 12 home owners and renters can get information about the Making Home Affordable and the City of Menlo Park Foreclosure Prevention programs at a free Resource Fair.
 Meet one-on-one with a HUD-approved housing counselor to discuss
your options to avoid foreclosure.
 Meet one-on-one with a lender to talk about how to better manage your [...]

Recently I got a question, via email, asking if “lease to own” was emerging as an option to a foreclosure. I asked our experts to weigh-in. Here’s what they had to say:
Yes it is an emerging alternate strategy. Read the fine print very carefully. The most important thing for the prospective lessee/buyer is that [...]

This is a guest post from our partners at Housing and Economic Rights Advocates in Oakland.
Forensic Loan Audits—What Are They? Should I Pay For One?
A “forensic loan audit” is a term that is being used to refer to someone looking over a homeowner’s loan documents in order to determine whether there is anything legally [...]

The Wall Street Journal reports, “Dozens of cities and counties around the country, from Sarasota, Fla., to Boulder, Colo., lost a total of $1.7 billion when Lehman Brothers went under, because they held Lehman bonds or other securities. San Mateo County’s loss was the biggest of any municipality.”
“San Mateo saw $155 million evaporate when Lehman [...]