What's The Risk?

Is it just me, or does anyone else not see potential issue with having a robot sign foreclosure documents? I think that all the banks and lenders need to be taking a closer look at their process and who is overseeing these things. While it is hard to manage everyone in a large organization, it is imperative that a large organization knows how to make it run like a well-oiled machine.


Having the proper supervisory people in place makes the world go round and having employees that contribute make it all worthwhile and a lot easier to endure. I will say that most companies have it all wrong, and want to get the best around for the least amount of money. When banks and lenders hire these people, they should most certainly get their view on money, and how it works, along with how they wish to see other people become more successful financially. If they don’t share that vision, they have no business working in finance.

Once investors begin to lose confidence, business is down which makes matters worse and properties get sold for a lot less money and less frequently. There is no great mystery behind what is going on, but the only mystery is regarding who will take a stand for what is right? The financial industry has suffered some staggering losses and will continue to do so if no one takes a stand.

-Mayer Dallal

The Foreclosure Moratorium Mess

The moratorium on foreclosures is a horrible idea and for many reasons. Look, I don’t have all the answers, but I can tell you what I do know from experience and you can decide for yourselves.


For starters, it doesn’t really resolve the real issue which is related to many things. Many homes went into foreclosures simply because they were underwater on their mortgages. However, joblessness is a huge contributing factor. Much of what is happening could be corrected with jobs abounding and mortgages being modified to truly put a borrower in a better position. The idea behind the modification is to get the borrower’s payments within a reasonable percentage of their income along with their other debts. Many families still won’t qualify, but there is no way to know for sure unless we try it.

The other big issue here is that the reports, facts and figures aren’t going to be true and genuine. They will only make things worse by not giving the facts on what is really happening. Those cases that have been filed won’t go up for modifications, and can’t be listed for short sales until everything has been reviewed. The only real good that could come from this is that the homeowner gets a little more time in their home until they figure out where they can go. This moratorium prevents the supply and demand, so where do we go from here?

-Mayer Dallal

Is There Mortgage Modification Fraud?

Families across America are catching onto the mortgage modification programs that are available today, but with information overload it’s hard to know who to trust.




Last year, one in six families defaulted on their home loans and felt they had nowhere to turn. The truth is that there are options available today so that families don’t have to worry anymore. There are some things to look for when trying to find an expert that can walk you through the whole process.



The biggest concern that I have is that the consumer needs to know the truth. While everyone can seek out these options, the truth is that there are only a small percentage of people that qualify for a mortgage modification. The challenge when doing a modification is the debt to income ratio target, which is at 31%. While this would be ideal for everyone, the bank may not to be able to get every home owner qualified under those guidelines. So, keep your eyes open for predatory schemes and people that are enticing you to believe that there are no guidelines and they can help you.



Foreclosure operations are popping up across the country and make promises they can’t deliver on. Don’t believe that someone can save you from your troubles; there is a process for everything. If it sounds too good to be true than it probably isn’t true!



Call me for more details, or visit my website at www.inlandempireshortsaleresource.com, or call me directly at (310) 498-2700.

There is Life After a Short Sale !

There is life after a short sale, don’t think that your financial future is over once you negotiate a short sale.


A short sale is much different from a foreclosure, in that it is a negotiation with the lender to let the home sell for less than is owed on the home. The short sale prevents you from having a foreclosure on your credit, and it will also allow you to credit qualify for another loan within a few years time. Foreclosure will affect your credit rating for three years, but it will remain on your credit report for ten years. When doing a short sale, your credit will show that your mortgage loan is paid as agreed, or settled, but this will probably drop your score no more than 50 points, and the slow pay will drop off your report within 12 to 18 months.



With all of the media hype on short sales, it’s really tough to know what is right and what is wrong. You need an expert and the tools and resources to get this right. Foreclosure can be devastating so don’t let it happen to you. There are options, so we can discover what those are together. Call me at (310) 498-2700, or you can email me today at mdallal@fhaloansnow.net.