joining us right now, the guy i just referred to as bob massi, he's bob massi.ayne, west virginia, where paul is there. he writes this: i went through divorce and the court ordered me to sign my house to my ex-wife. i gave her as ordered a quitclaim deed. she passed in 2008. the lender foreclosed. i tried to get a new loan and the lender said i can't get a federally backed loan for three years. why was my credit affected? >> because whenever you get divorced, one of the most misconceptions people have, brian, is that just because the judge orders you to transfer the property, the lender was not a party to that divorce. so even though you transferred title to your ex-wife to be her ex-husband to be, that does not take your name off of the mortgage. so after she passed or even if she wouldn't have, if she would have defaulted on the mortgage and there is a foreclosure, the spouse left behind that, in fact, quitclaimed the interest over, they never released from the debt. their credit is affected and the lender could go after them if they so chose. >> brian: anothe

let's talk to fox news legal analyst, bob massi, who joins us from las vegas.ooking ahead, last year you covered so much stuff. we're going to give folks a preview of what we're looking ahead to in 2012. you're going to look at the lending industry because that's one of the major problems right now, is people need help and the lending industry has got money, but it's hard to get the money out of their hands. >> very much so. what we're going to talk about this year, there are some new things that lenders are coming up with that maybe will open the flood gates a little bit to help people who have been through tough times to have access to new money to be able to buy homes. so there are some changes that are coming in the next year, which we're going to be talking about. every time i hear new things that come up with fha and any other type of conventional lending, i'm going to bring it to our viewers' attention. at least they'll have a sense of understanding of what direction the lenders are going to go in. >> steve: one of the great things you've done is explain

fox news legal analyst bob massi is here to fill us in.e. >> well, because they don't want to have a foreclosure to affect their credit as bad so short sales are designed to sell the home for less than what it's worth. but there is a process and i want our viewers to understand infrastructure wise, eric, how this whole thing works. >> ok, when a home owner decides to list the house for a short sale, how does it actually -- what's the whole process? who gets involved? what do they have to do? go ahead. >> let's say you make an offer on my home, eric, that offer is sent into the lender. immediately, let's assume there's a first and second on the home. immediately, each lender independently of one another appoints what is called a negotiator. that negotiator is there specifically to review their finances. they will send out forms that want to see what your monthly expenses are, what your liabilities are. they want to see tax returns. if you're in business for yourself, they want to see profit/loss statements. if you're not, they want to see y

real estate guru bob massi will explain. >> steve: solyndra collapsed, taking half a billion dollars terrific. right back the best approach to food is tkeep it whole for better nutrition. that's what they do with great grains cereal. they steam and bake the actual whole grain while the otr guy's flake is more processed. mmm. great grains. the whole whole grain cereal. that's good morning, veggie style. hmmm. for half the calories plus veggie nutrition. could've had a v8. my high school science teacher made me what i am today. r science teacher helped us build it. ♪ now i'm a geologist at chevron, and i get to help science teachers. it has four servo motors and a wireless microcontroller. over the last three y we've put nearly 100 million dollars into american education. that's thousands of kids learning to love ience. ♪ isn't that cool? and that's pretty cool. ♪ >> steve: fox news alert. you're looking live at the doomed cruise ship off the coast of italy. brand-new reports this woman, pictured here, may have been cavorting with the captain of the ship just before the ship ran agroun

. >> gretchen: bob massi will be here to take your questions on foreclosures and so much more. and michelle magazine kin will be here. >> brian: you can always count on one candidate to show up. see you tomorrow. good morning, everybody. 9:00 in new york. seal team six has done it again. report that is the same elite fighting force that took out osama bin laden getting credit for a daring rescue freeing an american from the hands of somali pirates. that's where we start. i'm bill hemmer on a good note today. how are you, martha. martha: that is good place to start. hello, bill. good morning, i'm martha maccallum. the seals pulling off a daring rescue picking off nine somali pirates. in doing so they freed a pair of hostages including this young woman, american jessica buchanan. she had been held captive for the past three months. bill: let's go to the pentagon. jennifer griffin, you saw some signs last night. what was that? >> reporter: the biggest sign, the president walked into the chamber and shook hands with leon panetta the defense secretary. here is what he said. [applaus

. >> brian: watch us tomorrow, our guest, emeril legasse, michelle malkin and bob massi and newt gingrich. a fox news alert. a major endorsement expected today for mitt romney. fox news confirming arizona senator john mccain will announce his support for romney today in new hampshire. mccain has huge backing in that race. new hampshire votes next tuesday. more details on that item as we get them here. >>> there is more breaking news. michele bachmann will hold a press conference this morning. we're awaiting bachmann in iowa. she has canceled a trip that had been scheduled for south carolina after finishing in sixth place last night. her campaign manager late last night telling the associated press he was not sure if bachmann's campaign could continue. details on both the stories as we get them here in "america's newsroom". so it is 9:00 in new york and wherever you are, how about that for some drama? then there is this. eight votes determine the winner of the iowa caucus with mitt romney proving victorious in the end. this from last night, 12:30 a.m. roll it. >> this is campaign night whe

. >> gretchen: bob massi, who has been talk being what to do if you're facing a foreclosure situationian, i'll see you up on radio. >> brian: i think it's going to be fascinating to

. >> gretchen: bob massi, who has been talk being what to do if you're facing a foreclosure situationian, i'll see you up on radio. >> brian: i think it's going to be fascinating to see what happens. it's coming up between 9:00 o'clock and noon. sirius 126. i hope your local station. but it's going to be very interesting to see what happens in south carolina, especially