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We posted previously on the cause of the rising mortgage foreclosures and strategic default.  On February 14, 2011 the Department of Housing and Urban Development (“HUD”) showed its love and Valentine’s Day spirit by announcing an increase in premiums for mortgage insurance.  The .25% increase is apparently a response to increased mortgage foreclosures and is intended to keep the FHA’s Mutual Mortgage Insurance Fund (“MMIF”) “financially sound,” according to HUD.

You might be scratching your head right now . . . if mortgages are insured against default, why we have had a meltdown in the real estate market over defaulted loans?  In other words, why did the banks need to be bailed out of their “bad loans” if they could have looked to mortgage insurance to cover losses?  Great question, and the answer is really complicated.  You can find it here: The Opposite of Asset Protection.

What you need to know right now is that mortgage insurance is about to get much more expensive starting on April 18, 2011.  If you have a pending transaction or are in the market to buy or sell real estate (and if you are going to finance), then you can save a lot of money by closing the transaction prior to April 18th.

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Pashmina Lalchandani

CEO & Co-Founder, Bar & Cocoa / Owner, Flow Simple
December 9, 2010, Douglass was a client of Pashmina’s

I’ve known Doug in many contexts, as a friend, as a client and as a business partner and he impresses me on all levels. He’s dependable, smart, generous and I wouldn’t hesitate recommending him and his law firm to anyone.
He’s the best and most ethical lawyers providing asset protection with rock solid strategies to give you peace of mind about your wealth. Straight forward, and straight talk. Doug is exactly the lawyer I want on my side. If I send someone to Doug, I know they’ll thank me for it!

Social & Solar Entrepreneur, Pan Afrikan Theorist, Translator/Interpreter,
Founder & Visionary Leader @ Afrikanpride.
March 12, 2011, Marlon E. D. J. worked with Douglass but at different companies

Doug is one of the most powerful thinker i have came across. During the short time that i have known Doug he has been a great source of inspiration. He has a simplistic yet effective and accurate way to analyze anything you bring to his attention, and then by asking you key questions he gets you to see the light at the end of the tunnel. Besides being extremely bright, he is a genuine and caring individual which is why I feel fortunate to know him. I can say without a doubt that he his the person you would want to talk to if you were in need of a person with his expertise.
Most of the lawyers out there will probably meet your needs, but if you are looking for someone to exceed your expectations and give you that wow factor, look no more he is the person for the job.

Patricia Salter

Associate Dentist at Smileology
December 1, 2010, Patricia was a client of Douglass’

I have been a client of Douglas Lodmell’s since 2001. My main concern was asset protection in this litigious society. I can sleep alot better at night knowing I have the instruments in place to protect the fruits of my labor, and that they will not end up in the hands of a slick trial attorney.

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