Sengdao Vongruksukdi's Blog

The lowest mortgage interest rates in almost 60 years, plus affordable homes in cities where buyers had been priced out for years, should be turning the housing market around. But the market also labors under some heavy burdens: a glut of foreclosures that are dragging down home prices, high unem...

Many companies that charge big upfront fees to consumers drowning in debt are skirting new federal rules that ban abusive debt-settlement practices, according to consumer advocates and government officials. Federal Trade Commission rules that took effect this fall ban debt-fixers engaging in tele...

The Federal Housing Finance Agency (FHFA) is starting to get really serious about all of the mortgage delinquencies which are taking place across the country. For those of you who may have never heard of the FHFA before, it is the Federal entity which oversees and regulates the mortgage behemoths...

I have been arguing that home prices will come back faster and stronger than anyone thinks. I have been making the case for this idea for some time now. I know most everyone thinks I'm out of my mind, including a close friend in the business who we had dinner with the other night. I've been makin...

Newport Beach, CA -In its December 2010 Economics and Mortgage Market Analysis released today, Fannie Mae forecasts an optimistic outlook for both the economy and the housing market. 2011 will see marked improvements in consumer spending and consumer confidence, increased demand for goods and ser...

Newport Beach, CA -Bank of America (BoA) made the headlines again over the weekend.  This time with the Attorney General of Arizona announcing on Fox News that the state was suing the bank for mortgage fraud.  In hot pursuit, also filing a civil lawsuit against BoA for violating consumer protecti...

Newport Beach, CA -Foreclosed Palm Beach County, FL homes were auctioned off for as little as $200 last week after the illustrious law firm of David J. Stern folded and the thousands of the foreclosure cases it was handling were reassigned. Residences in this prime location at the height of the r...

Now, the ante has been upped significantly because even though Bank of America has dug in its heels and retained the best counsel that money can buy to engage in "day-to-day, hand-to-hand combat" as described by their CEO, to fight each and every repurchase request, the Federal mortgage agencies ...

If you or someone you know is having difficulties making their mortgage payments and their loan is not owned by Fannie, Freddie, or the FHA, then they've most likely experienced more runarounds and headaches than they could have ever imagined, particularly if negotiating a loan modification. Whet...

When the New York Times can't suggest a logical reason for widespread banking practices that's a sure indicator that something is horribly broken and that something seems to be much of the entire banking industry's mismanagement of short sales. In an excellent article by Michael Powell published ...