What to do with the home you obtained by expropriation? “What we want to do is to take the foreclosure off the credit report and dissolve it completely, so we can refinance the home and start over.”
By: Greg Swann,
Phoenix Real Estate,
Post Archive,
RSS FeedPosted: Thursday, October 21st, 2010, 6:40 am MST
Category: Lending,Real Estate
Now that’s cheek. May god have no mercy on the lender who underwrites the refi. From the Wall Street Journal: Niche Lawyers Spawned Housing Fracas.
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1st thought: I can’t believe people think that they can stay in their homes after they stop paying their mortgage.
2nd thought: Bravo to the lawyers who craved out their own niche.
In closing: Who would would refi for a person willing to miss their mortgage payments and sue to stay in the house?
Foreclosure defense seems to be a popular niche for attorneys these days. I’m not sure how long this niche will last once the mess is cleaned up and the economy turns the corner. The funniest part of the article was that fact that GMAC tried to sanction the lawyer on grounds he had embarrassed its employees. It’s not surprising that the motion was denied by Maine’s state court.
Thanks for posting this. I missed it in my readings.
How many in Congress are attorneys? Most–scary.