Bank of America forecloses on the wrong house.

B of A was served with a law suit last week alleging that they took possession of the wrong house after foreclosing on a nearby property. A clerical error led B of A employees to remove all the contents and change the locks on the wrong property.

Mass. Couple Sue Bank of America Alleging Erroneous Foreclosure Attempt

Strategic defaults OK for big corporations but not homeowners?

Watch this comparison of investors walking away from a $5.4 billion mortgage and the morality of walking away from your own mortgage.

Short Sale Kickbacks

The big banks have found another way to circumvent the law and squeeze more money out of their debt slaves.  Watch this report from CNBC:


http://www.cnbc.com/id/34877347

Getting an FHA loan after doing a short sale.

If you are planning to do a short sale on your home then you need to take into consideration the effects this will have on your credit and your ability to get an FHA loan.  FHA has become the new "sub-prime" and to qualify for an FHA loan you must not have done a short sale “to take advantage of declining market conditions” or to purchase another property at a reduced price.

When you do buy another house you ought to work with a lender that specializes in short sale financing.  Short sale lenders have a better understanding f the complexities of this type of transaction.

Starting in April 2010, lenders will only have 10 days to respond to a short sale offer.  This will speed up the process. 

Short Sale Leads Websites - Special Offer

Here is the special offer:

1.  NO WEBSITE SETUP FEE
2.  FREE LEADS EQUAL TO MONTHLY FEES

From now until the end of the year, when you order a website, the entire amount of your hosting fees is applied to your Cherry Picked Leads account. This way you can get leads even before your website is listed in search engines. Every month that you continue to pay for your website subscription you get that amount credited to your account so you can get the Cherry Picked Leads that are submitted directly by homeowners who are looking for short sale and loan modification information.

How do I get started? Call 530-387-3631, have your credit card ready and the domain name you want to use. Here are examples of sites we have already done so choose a name like these:

*sacramento.shortsaleleads.org
*tampa.shortsaleleads.org
*mountainview.shortsaleleads.org
*yourplacename.shortsaleleads.org

Peter Schiff on Housing Video Blog

Peter Schiff shows his economic brilliance and foresight in this 10 minute video blog. Mr Schiff, who is running for the US Senate seat occupied by Christopher Dodd was one a few people who correctly foresaw and tried to warn others about the housing bubble. His common sense approach and plain speak make him a likable fellow who is still mocked and ignored by pundits and press for his criticism of mainstream (Obamanomic) thinking.

In this video, Mr. Schiff gives his analysis of the days financial events and talks about the bond market, debt ceiling and a recent WSJ article about people walking away from their homes.

House Flipping Makes A Comeback

Check out this video from tonight's Kudlow Report.

The experts make the case that you need to be an expert or avail the services of one to make money in foreclosures and short sales.

They make the point that you cannot enter the property and do an inspection to see if the property has been trashed.

The leads offered by www.shortsaleleads.org are contacts with actual homeowners that are interested in doing a short sale.