Law Offices of Dennis Rasmussen

09/03/2020

'Extraordinary' move by CDC to stop evictions draws heavy criticism from housing industry and tenant advocates

https://www.cnbc.com/2020/09/02/cdc-move-to-stop-evictions-draws-heavy-criticism-from-both-sides.html

Without the same kind of help for homeowners struggling to make a mortgage payment this will result in a tsunami of foreclosures

Late Tuesday, as temporary, Covid-related eviction protections in several states had just expired, the Trump administration announced a somewhat creative plan to stop most rental evictions through the end of this year. It issued an order through the Centers for Disease Control, which declared evicti...

08/28/2020

Regulators To Impose Fee On Mortgage Refinancing Starting Dec. 1

https://www.wbur.org/bostonomix/2020/08/27/mortgage-refinancing-fee-fhfa

The regulator of the nation's mortgage giants is imposing a 0.5% fee on refinancing, just as homeowners are grappling with the recession and looking to take advantage of historically low rates.

04/16/2020

Mr. Cooper places 86,000 customers on forbearance plans - HousingWire

Hmm. Except one of my very deserving clients today got turned down flat by Mr. Cooper for no apparent reason. Always best to read the fine print. And where are the other lenders? Where is Ocwen, Shellpoint, New Rez to name a few? There will always be outliers who give lip service to helping borrowers. There is still time for them to come on board.

Just a week after the CARES Act was signed, Mr. Cooper released its initial numbers on how it’s serving its customers during the COVID-19 pandemic.

04/13/2020

Why you should think twice about delaying your mortgage payments

We've seen this particular movie before. Twelve years ago. Here's a given. If your lender is hurting, don't assume they won't pass that hurt along to you. Some lenders are rolling the three months into the back of the loan,; some are requiring homeowners to prove they've suffered a hardship. Others will require a lump sum when the economy reopens. Check with your lender as to how they expect you to make up the arrears and get the name and Employee ID number of the person you talk to.

Rob Allen and his friends used to talk about sports all the time. These days, the main topic of conversation is mortgage forbearance.

02/06/2020

Homeowners were defrauded through the PACE lending program, L.A.’s city attorney alleges

This isn't the only PACE scam. Homeowners beware. The latest nightmare is that the PACE lenders attach the loans to the property taxes. Homeowners who have taxes impounded suddenly see their escrow accounts skyrocket, their mortgage payments double and the homeowner is pushed into foreclosure. Legislation is needed NOW!

The Los Angeles city attorney has alleged an unlicensed contractor used a government-established loan program to defraud low-income consumers by misleading them into taking on unaffordable financing and abandoning incomplete jobs after it was paid.

01/21/2020

Mothers who occupied vacant Oakland house will be allowed to buy it

Know this company well.

Intervention of California governor helps Moms 4 Housing group score victory in fight against state’s homeless crisis

10/03/2019

Federal government has dramatically expanded exposure to risky mortgages

It's Deja Vu all over again. I've only recently stopped taking cases from the deregulation fiasco of 2006-2008. The big guys write a lot of mortgages and, down the road, the little guys lose their homes. Don't fall for these mortgages. They're bad news for the homeowner.

In a new recession, the mortgages could cost taxpayers billions.

09/06/2019

Can Second Mortgages Foreclose on Property?

Yes and they are doing so in ever increasing numbers. We are taking in so many cases in the past year from people have had "zombie" second mortgages which they have not paid in years or had thought were charged off appear out of nowhere and aggressively move to foreclosure.

The rise in equity across the country has suddenly made it extremely profitable for mortgages which in many cases have been passed around for years and acquired for pennies on the dollar to foreclose, pay off the first mortgage and take a large profit in the process.

Second mortgage holders can foreclose on a property under certain circumstances. Foreclosure is a legal proceeding initiated by a mortgage lender when the borrower is no longer making payments as required under the terms of the loan. Generally, all mortgage payments must be made in a timely manner t...

07/10/2019

Growing pains for Mr. Cooper? Nonbank takes big loss thanks to lower interest rates

They changed their name but they didn't change their way of doing business. Its called "taking out the trash". Mr. Cooper, fka Nationstar, takes on the servicing of thousands of problematic loans which are dumped by the big banks, who are all intent on getting out of the mortgage business.

There are three particular problems we run across all the time with Mr. Cooper loans. Refusal to convert to permanent modification after a trial period program; hike of mortgage payments after a trial period program when they analyze their escrow accounts (hint: they could do this before the TPP) and wrongful foreclosure.

Mr. Cooper grew its business significantly in the first few months of the year, closing the acquisitions of Pacific Union Financial and IBM’s Seterus mortgage servicing platform in the first quarter alone. But despite all of that, the nonbank formerly known as Nationstar Mortgage still took a big ...

02/15/2019

Ditech files for Chapter 11 bankruptcy for second time in 14 months

More grief for homeowners whose mortgages are with Ditech. We have a Civil Unlimited case against Ditech right now which will be in limbo for quite some time while Ditech struggles to keep solvency. Once again, the homeowner loses.

It appears that the financial troubles of Ditech Holding Corp., the nonbank formerly known as Walter Investment Management, are far from over. Last year, the company emerged from Chapter 11 bankruptcy after completing a financial restructuring plan that eliminated $800 million in corporate debt. But...

12/28/2018

Eviction filings and code complaints: What happened when a private equity firm became one city’s biggest homeowner

Many homeowners don't know who really owns their mortgage or their rental home. Do you?

In Memphis, Cerberus Capital Management racked up property code violations this year at a consistently higher rate than other single-family rentals in the same neighborhoods, according to a Post analysis.

04/11/2017

What's The Difference Between Short Sale, Pre-Foreclosure, and Foreclosure?

There are many many options to foreclosure; bankruptcy, Deed-in-lieu, Short sale or even Litigation against your Bank. Moving should always be the nuclear option.

Five agents from across the country offer their thoughts and opinions about foreclosures, short sales, and homes just entering the foreclosure process.

05/31/2016

Law Offices of Dennis Rasmussen

Need some Legal Advice? Come visit www.realestatelawcenter.org

Our main focus is to represent plaintiffs in litigation against lenders and servicers with TARP, OTS, DOC, FDIC, FTC, AG, etc., commercial loan workouts, accelerated depreciation / cost segregation, structured residential loan workouts, predatory lending, business litigation and bankruptcy. In doing...

04/12/2016

For Beacon Hill immigrant, American dream turned foreclosure nightmare - The Seattle Globalist

Seattle. California. Any and Every State. One woman's horror story of her mortgage with J.P. Morgan Chase.

After struggling for eight years to keep her home, Italian immigrant Pina Belgrano took to the streets yesterday to fight the foreclosure system.

03/31/2016

Ellen Brown-Depositors Die and Banks Live in Next Financial Calamity

Once again, the Banks get a get out of jail card. Literally.

Public banking expert Ellen Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trilli...

03/29/2016

Wells Fargo to Pay $1.2 Billion in Mortgage Settlement

Better late than never. This was the last domino to fall.

The bank has been in talks with the government since 2012 over claims that it improperly classified some F.H.A. loans as qualifying for federal insurance.

02/29/2016

Robert Reich

Thoughts? #economy #middleclass #justice #politics

What's the central truth about the U.S. economy? Our very first video laid it out. A couple of things have changed since then, but the basic story is exactly the same.

02/29/2016

Real Estate Law Center in Pasadena - on your side since 2008 - #dennisrasmussen #legal #realestate #pasadena

02/26/2016

#community #earth #recycle

Our popular e-waste recycling & document shredding event returns to #Pasadena Saturday, Feb. 27, 2016!

Drop off your items from 9 a.m. to 3 p.m. in Parking Lot I outside the Rose Bowl Stadium near Brookside Park, 360 N. Arroyo Blvd.

Remember, you can bring a maximum of five legal-size boxes for shredding.

For the complete event details including e-waste items & documents that can be dropped off, visit http://ow.ly/YFfAL.

02/26/2016

#pasadena #community

The Big Bang Theory Gets Its Own Street — Alley, Actually — in Pasadena

----> http://www.pasadenanow.com/main/the-big-bang-theory-gets-own-street-alley-actually-in-pasadena/#.Vs-FLZwrLs4

02/26/2016

www.sigtarp.gov

Former President and CEO of TARP-recipient Tifton Banking Co. sentenced to 84 Months Federal Prison & $3.9M Restitution
Courtesy realestatelawcenter.org

This afternoon, the case against former Tifton Banking Company (TBC) CEO and President, Gary Patton Hall Jr. concluded with Hall’s sentence to 84 months in federal prison and a court order to pay restitution in the amount of $3,931,018 to the Federal Deposit Insurance Corporation (FDIC), the Small Business Administration, and the U.S. Department of Agriculture.

At the time of its closure in 2010, Tifton Banking Company had not repaid its $3.8 million TARP loan, and had accrued $50,000 in unpaid TARP dividends.

This case was investigated by SIGTARP agents, along with the FBI, SBA OIG, FDIC OIG and the Department of Agriculture OIG.

Details of the case can be found at: http://go.usa.gov/cvBHA.

Additional information can be found at: www.sigtarp.gov.

Goldsmith Romero quote - Gary Hall Sentencing:

“Today, another TARP banker was sentenced to jail for hiding a bank’s past due loans during the crisis to make the bank appear healthy,” said Christy Goldsmith Romero, Special Inspector General for TARP (SIGTARP). “SIGTARP special agents working with prosecutors at the U.S. Attorney’s Office in the Middle District of Georgia and other law enforcement partners uncovered that Tifton Banking Company President and CEO Pat Hall engaged in a long running fraud scheme that began pre-crisis in 2005. He made risky bank loans pre-crisis, and later criminally concealed the fact that the loans were past due and that the collateral had dropped in value. On behalf of the bank, in 2009, Hall obtained $3.8 million in TARP bailout funds to fill holes in the bank’s books caused by his fraud, all of which was lost when the bank failed. He deceived taxpayers, shareholders including Treasury, banking regulators and the bank’s loan committee. TARP was not a bailout for bank fraud and SIGTARP and our law enforcement partners will ensure that bankers who commit fraud related to TARP will be brought to justice.”

02/25/2016

...a little legal humor...#funnny #community #pasadena #lawyers #dennisrasmussen

02/25/2016

California Fire Foundation PSA (30 seconds)

Thank you to our wonderful firefighters #pasadena #firefighters #community #dennisrasmussen

Gary Sinise reminds us of the important work of California's firefighters and the California Fire Foundation.

02/24/2016

Senator Warren Releases "Rigged Justice," First Annual Report Detailing How Weak Federal...

RIGGED JUSTICE - a great read #economy #justice #dennisrasmussen
http://www.warren.senate.gov/?p=press_release&id=1050

United States Senator Elizabeth Warren today released a report titled Rigged Justice: How Weak Enforcement Lets Corporate Offenders Off Easy. The report, the first in an annual series on enforcement, highlights 20 of the most egregious civil and criminal cases during the past year in which federal s…

02/24/2016

Real Estate Law Center - Law Offices of Dennis Rasmussen

02/23/2016

Pasadena Star News

No winter today! #pasadena #beautiful #california #dennisrasmussen

No winter in Pasadena -- for today, anyway.

02/23/2016

A little legal humor to brighten your day! #community #smile #humor #dennisrasmussen

02/22/2016

The Aspiration Blog - news, updates and aspirations

http://blog.aspiration.com/sick-of-wall-street-greed/
#wallstreet #economy #values #dennisrasmussen

Too often, big institutions on Wall Street have shown they play by very different rules and work by very different values than everyday Americans.

02/22/2016

This is Iceland - #economy #fairness #dennisrasmussen

02/19/2016

Real Estate Law Center in Pasadena - on your side since 2008 - #dennisrasmussen #legal #realestate #pasadena

02/18/2016

Pasadena Unified School District

Legal news in the community #dennisrasmussen #families #school #pasadena

Morgan Hill Case FERPA Notice & Objection Form:
Important Information Regarding Confidential Student Data

http://bit.ly/1Kqe6p0

http://www.cde.ca.gov/re/di/ws/morganhillcase.asp

02/18/2016

Real Estate Law Center in Pasadena - since 2008 - questions about your mortgage? Consult a professional (626) 683-8942 #dennisrasmussen #legal #realestate #pasadena

02/18/2016

...and now, for a little legal humor...

02/18/2016

Pasadena Heritage

Very nice

Many Americans today want their homes and workplaces to be unique and distinctive—exactly the kind of distinctiveness, character, and sense of place that historic preservation districts provide.

02/17/2016

Florida Protects Banking Giant Lender Processing Services, Ignores Hurting Homeowners

More background on mortgage fraud. We are on your side; if you are having problems with your lender, please contact our office today. #dennisrasmussen #realestate #legal
http://www.miaminewtimes.com/news/florida-protects-banking-giant-lender-processing-services-ignores-hurting-homeowners-6387202

Florida Protects Banking Giant Lender Processing Services, Ignores Hurting Homeowners