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Fannie Mae May Penalize Loan Servicers for Foreclosure Delays
by Robert Franco | 2010/09/03

Fannie Mae recently announced its Foreclosure Time Frames and Compensatory Fees for Breach of Servicing Obligations.  It updated the allowable foreclosure time frames for four states (FL, MD, NV, and NY) and stated that it may begin conducting reviews of servicer loan files, processes, or procedures.  Where Fannie Mae finds delays in foreclosures, it will exercise its remedy to assess compensatory fees as deemed necessary.

This could mean that servicers will pursue foreclosures more aggressively to get more cases through the process within the allowable guidelines.

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Categories: Foreclosure

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Foreclosure Prevention Scams: Be Aware!
by Robert Franco | 2010/06/29

With so many homeowners in foreclosure, there are plenty of potential victims for scammers to prey on.  They are easy to find and desparate enough to be willing to try anything.  It is a dream come true for con artists who have a plethora of scams to run on unsuspecting homeowners who are in need of help.  The myriad of government programs, often complex in nature, make it easy for them to make their scam sound legitimate.  Homeowners need to be aware of the variety of schemes designed to rip them off.

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Categories: Foreclosure

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Alt Mod Provides Hope for More Homeowners
by Robert Franco | 2010/06/15

The Home Affordable Modification Program (HAMP) has been less than a stellar success.  Very few of those who have been through the modification process have been getting permanent modifications.  Often times, they go through a very lengthy application process and trial period plan only to find out that they don't qualify and are then even further behind in their payments.  Now, there is hope for many of them.  The Alt Mod program may finally spur the number of modification that was originally anticipated by HAMP.

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Categories: Foreclosure

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Home Affordable Modification Program (HAMP) Doing More Harm Than Good
by Robert Franco | 2010/05/19

In February 2009, the Obama Administration introduced a comprehensive financial stability plan that included help for homeowners - the Home Affordable Modification Program (HAMP).  It is intended to provide eligible homeowners the opportunity to modify their mortgages to make them more affordable.  It has even been extended to help unemployed homeowners and those who are "under water"  on their mortgages.  But, the program may not be all its cracked up to be... it may actually be causing more homeowners to lose their home to foreclosure.

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Categories: Foreclosure

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Robert A. Franco, J.D., LL.M.

1007 Lexington Ave.
Mansfield, OH 44907

419-524-5938 | Phone
888-764-3525 | Fax

Admitted to:

 

  • Ohio Supreme Court
  • Federal District Court - Northern and Southern Districts of Ohio
  • Bankruptcy Court - Northern and Southern Districts of Ohio
  • U.S. Court of Appeals for the 6th Circuit
  • U.S. Tax Court  

Announcements

January 2, 2014: Attorney Franco will be teaching Business Law, Real Estate Law, and Real Estate Transactions at North Central State College this Spring semester.

August 10, 2013: Attorney Franco will be teaching Business Law at North Central State College this fall semester.

August 8, 2012: Attorney Franco will be teaching Business Law at North Central State College this fall semester.

December 8, 2010:  Attorney Franco will be teaching Real Estate Law at North Central State College this winter quarter. 

June 15, 2010:  Attorney Franco was quoted in the Columbus Dispatch: Ohio outlaws real-estate transfer fee that would have benefited developers.

May 18, 2010: Attorney Franco earned his LL.M. (Master of Laws) degree in Business and Taxation from Capital University Law School.

 April 16, 2010: Attorney Franco was quoted in CommonWealth Magazine: Private developers ape BRA controversial resale fees.

March 6, 2010: Attorney Franco was quoted in the Washington Post
A new real estate cost to watch out for: Developer's private transfer fee.

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