According to CNN,  the Obama administration will issue a proposal later this week recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac, a White House official said Wednesday. CNN reports that the highly-anticipated “white paper,” which is expected to be released Friday, will include three different options for reducing the role [...]

Bookmark It

[Read more →]

Headlines: First Family Home to be Sold Via Short Sale…If Only the Lender Had Listened It’s early April, 2010, and I have received an email from Jeff Starbling. You may remember the story, no, the saga.  For those just tuning in, here is a quick recap.  Jeff and his wife purchased a townhouse in Florida [...]

Bookmark It

[Read more →]

On July 16th, I wrote Part II of the series on Jeff and Tiffany Starbling, the Florida couple who was working through the morass of the loan modification process at Bank of America/Countrywide. At that time, they had been in the “process” for over two months and despite the help of a very experienced attorney, [...]

Bookmark It

[Read more →]

Bank of America’s stock price used to be $53 dollars, then plummeted to $3, and now rebounds to $13.  When put into black and white, the “rebound” has little comfort. I got the same feeling when I read this article about home pricing rebounds at http://news.yahoo.com/s/ap/20090727/ap_on_bi_ge/us_new_home_sales. This is the reality with June’s new home sales [...]

Bookmark It

[Read more →]

Part II of the Starbling Loan Modification Process – A Personal Look Into the Country’s Loan Modification Crisis I really don’t want to be dramatic about a subject that is so serious. But my sense is that in today’s day and age, without drama, there is no real news coverage. While every network in America [...]

Bookmark It

[Read more →]

What lender is dumb enough to modify a home loan and not reduce the monthly payment for the homeowner? How about almost everybody!  When you are bleeding to death, the doctor doesn’t suggest an IV!  The first order of business is to stop the bleeding.  So, why in the world would a lender modify a [...]

Bookmark It

[Read more →]

After observing the struggle of today’s homeowner, I began working with attorneys and homeowners on a personal level to help them navigate the loan modification process with lenders.  Through this process, I’ve gained inside knowledge of tips and tricks that I want to share with everyone. Faced with an impossible choice of giving up their [...]

Bookmark It

[Read more →]

Check out my latest article on TheStreet.com! In it, I outline what I believe are some strong buy opportunities in a weak housing market.  From stock picks to the luxury housing market, I call it how I see it!  Read it and let me know what you think:  Pulte, Lennar, Home Depot & Lowes Are [...]

Bookmark It

[Read more →]

A Case Study of a Trapped Homeowner Several weeks ago I went to my 25th high school reunion at my alma mater, Georgetown Prep, in Bethesda, Maryland. A classmate of mine, who is a reader of The Sumichrast Report, asked me for advice. His brother-in-law, Jeff, is upside down on his house and wanted to know what [...]

Bookmark It

[Read more →]

I would urge anybody wondering how to understand the economic mess and what we need to do to get out of it, to watch JP Morgan’s CEO, Jamie Dimon’s speech today at the US Chamber of Commerce (3/11/09). Bookmark It

Bookmark It

[Read more →]