By Tom Branch, on October 6th, 2010 The Texas Attorney General’s office has halted all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties, until mortgage companies have completed a review of their processes, including whether employees or agents “robosigned” affidavits and other documents recorded in Texas.
The AG suspension notices were sent to 30 mortgage-loan servicers doing business in Texas including:
American Home Mortgage Servicing, Inc.
American General Finance, Inc.
AmTrust Mortgage Corporation
Aurora Loan Servicec, Inc.
Bank of America
Carrington Mortgage Services, LLC
Cenlar, FSB
JP Morgan Chase & Co.
CitiMortgage, Inc.
EMC Mortgage Corporation
First Horizon National Corp.
Ally Financial, Inc./GMAC
Home Loan Services
HomEq Servicing, Inc.
HSBC North America Holdings, Inc.
Litton Loan Servicing, Inc.
MGC Mortgage, Inc.
Midland Mortgage Company
MorEquity, Inc.
National City Mortgage c/o PNC Financial Services Group, Inc.
Nationstar Mortgage Company
Ocwen Loan Servicing, LLC
OneWest Bank Group LLC
PHH Mortgage Services Corporation
Saxon Mortgage Services, Inc.
Select Portfolio Servicing, Inc.
Vanderbilt Mortgage and Finance, Inc.
Washington Mutual
Wells Fargo & Company
Wilshire Credit Corporation
Expect more on this developing story in the next few days. We need to determine what impact this will have on existing sales contracts.
Source: Texas Association of REALTORS®
By Tom Branch, on October 5th, 2010 The Branch Team | Texas Real Estate Broker 0547597 | RE/MAX Dallas Suburbs
3 Bedrooms | 2 Baths | 2-Car Garage | 1628 SF/Tax
Plano TX Homes For Sale – Wonderfully updated home. Kitchen has been updated with granite counters, tumbled marble backsplash and ceramic tile flooring. Hardwoods in the formals. Both baths have some updating including granite vanities. French Doors lead to covered patio that is perfect for entertaining. Large backyard with mature trees and recent fence. Outside of house was recently painted. About 90 percent done–needs appliances, fresh carpet and some minor repairs.
Click here for more details, current status, pricing, photos, and a virtual tour.
Source: NTREIS | Photo Credit -Tom Branch
By Tom Branch, on October 5th, 2010 
I received a phone call today from a radio station in California wanting to do an interview about avoiding foreclosure. Their focus is on loan modifications and the companies that have sprung up offering to assist distressed homeowners apply for loan modifications in an effort to save their homes.
I recently listed a short sale property and while I was talking with the homeowner, she related that she had paid a company close to $2000 to assist her with a loan modification. Of course, nothing came of the modification other than the homeowner forking over $2000.
It not like she was naive or gullible either. This homeowner has a doctorate and years of experience in the business world. The last thing any of these people want to do is to lose their home and they’ll hand over their last few dollars to someone who tells them that they can help.
It seems thousands of little companies have been formed to assist distressed homeowners with loan modifications. Run a search on Google and you’ll find a seemingly endless array of offerings. While I suspect there are some legitimate companies out there, homeowners can work directly with their lenders to attempt a modification. Want the good news? There’s no cost to the homeowner.
Homeowners also need to be aware that only a small percentage of modifications have been approved and 80-plus percent of those that are approved do not make it through the modification trial period. Loan modification is a low-percentage shot.
If the homeowner is simply too busy to work on the modification themselves and desire to hire a third-party to assist them, they should do some research. They should check out the company they’re considering. Homeowners can look companies up by name or phone number with the Better Business Bureau. They should also run a Google search on the company name and look for problems being reported.
The best course of action is for distressed homeowners to call their lenders or discuss the matter with their trusted real estate or mortgage professional.
By Tom Branch, on October 4th, 2010 
Some time back a friend of ours had the pleasant opportunity of having dinner with his friend Earl Nightingale, the famous radio personality and producer of self improvement cassette programs.
Earl made his life’s work studying successful people and how they achieved their successes. Our friend had long admired Earl for his ideas and philosophy.
And on that occasion, our friend asked him what advice he would give his young son if he had one. What, based on his vast experience and knowledge, would be the one thing that would help his son ensure success both in business as well as in his personal life.
Earl said to our friend, “You know, I have often thought about that very question. And after all the years and all the study, I’ve come to the conclusion that your success in life, or in business for that matter, can be boiled down to one thing. That is, your rewards will always be in direct proportion to the amount of service you render.
“You only have to look around,” he said. “The people who serve others, prosper. The people who don’t serve others, don’t prosper. And you can tell just how successful a person is by the amount of service they render to others.
“The problem,” he continued, “is that unsuccessful people either haven’t learned that great secret, or they don’t apply it.”
“The successful people are the ones who develop the habits of doing the things that unsuccessful people don’t do for one reason or another.”
By Tom Branch, on October 2nd, 2010 
2 Bedrooms | 2.q Baths | 2-Car Garage | 1146 SF/Tax
Farmers Branch Townhomes For Sale – Convenient location near Marsh and Belt Line with golf course view. Great potential for investor. Tall baseboards and laminate flooring downstairs. French doors lead to partially covered, large patio with greenbelt view. Kitchen has double ovens and updated smooth cook top. Balcony off master overlooks greenbelt and pool. Master bath has pedestal sink and oversized shower. Foundation repair completed with transferable warranty. Sold as is.
Click here for current status, pricing, photos, and a virtual tour.
Source: NTREIS | Photo Credit -Tom Branch
By Tom Branch, on October 2nd, 2010 
3 Bedrooms | 2 Baths | 2-Car Garage | 1591 SF/Tax
North Richland Hills Homes For Sale – Great value in NRH. Nice landscaping with sprinkler system and accent lighting. Huge family room with picture frame molding and mirrors. Laminate flooring and brick fireplace with extended sitting ledge. Light and bright eat in kitchen with breakfast bar overlooks living area. Most appliances updated. Large master with spacious bath has dual sinks, garden tub, separate shower and his and hers walk-in closets. Recent carpet and paint.
Click here for current status, pricing, photos, and a virtual tour.
Source: NTREIS | Photo Credit -Tom Branch
By Tom Branch, on October 2nd, 2010 
3 Bedrooms | 2 Baths | 2-Car Garage | 1621 SF/Tax
Denton TX Homes For Sale – Cute 3 bedroom, 2 bath with private study. Open kitchen with breakfast bar overlooks the living area. Fenced backyard with open patio is great for entertaining. Home sits on a corner lot and is close to TWU and UNT. Home sold as is.
Click here for current status, pricing, photos, and a virtual tour.
Source: NTREIS | Photo Credit -Tom Branch
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