Florida State Wins Case over Alleged Foreclosure Relief Scam

Pams VAS Pam's VAS News and Updates

At the end of May 2015, a Florida court ruled in favour of the Consumer Financial Protection Bureau and the state over claims a law firm charged illegal monies to consumers desperate for relief from foreclosure. It now means North Palm Beach law firm Hoffman Law Group are now liable for $11.7 million in illegal upfront fees it charged. In …

Is there another wave of Foreclosures around the corner?

Pams VAS Pam's VAS News and Updates

If you thought the mortgage crisis was over and belonged back in the years from 2008 to 2011, then think again. There is a warning from economy experts that the housing crisis could be about to return. The foreclosure crisis started its humble beginnings some eight years ago; it was not prominent at first but the crisis was so large …

Ocwen performs another MSR Sale to Nationstar – about $25 billion.

Pams VAS Uncategorized

Ocwen Loan Servicing performs another MSR Sale to Nationstar Mortgage Holdings of about $25 billion. Thats over 223,000 mortgage loans. That doesn’t even include the 2 MSR Sales to Green Tree Loan Servicing announced in March. So, thats all 4 sales totaling over $80 Billion in unpaid principal balances. Wow, so whats the future of these sales look like for …

Cash purchases for Homes in December were at 35% – Will this continue?

Pams VAS Pam's VAS News and Updates

In December 2014, national cash sales on single family homes made up for about 35% of the total of all home sales. WOW!! However, if we turn the clock back a year we find the cash sales in December 2013 made up 38.5% of the share. So why is this figure falling and should we be worried by it? Now, …

Many first time home buyers don’t understand Adjustable Rate Mortgages

Pams VAS Pam's VAS News and Updates

Basically, an ARM is a mortgage loan that has an interest rate that adjusts, or changes, usually once a year. The benefit of an ARM is that it generally gives you a lower interest rate initially. The risk is that the interest rate most likely will go up, which in turn will make your monthly payments rise. There are many …

Most Consumers Don’t Understand How Their Credit Scores Are Calculated

Pams VAS Pam's VAS News and Updates

It’s true, when you think about getting a mortgage for that condo or getting an offer put together for that speed boat on credit, we are upset when the credit company or the mortgage lender turns us down. This is all despite the fact that we have a good salary, a steady job and always pay off our credit card …