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Despite the questions swirling around foreclosures, the survey says that the majority of Americans are still willing to buy Over the last few months The Hallmark Abstract Sentinel as well as the partners of Hallmark Abstract Service have tried to
This chart from USA Today is a graphic statement of how far many markets in the US have fallen.
This is the fifth straight month of year-over-year declines, and the sixth straight month of month-to-month declines.
U.S. homeowners in the foreclosure process were an average of 507 days late on payments at the end of last year as lenders handled a record rate of mortgage delinquencies, Lender Processing Services Inc. said today.
As you can see, it is the quintessential picture of a bubble gone bust. Notice the upticks throughout 2009 and 2010, the results of incessant .gov bubble blowing. Many truly believed that was the marked turnaround in the real estate market.
What is particularly interesting is that the SEC seems to be targeting specifically the sort of abuses that we have chronicled at length on this blog: failure to convey mortgages to the securitization trusts in accordance with the pooling...
The county folks have been counting this sham transaction as a "sale" for tax purposes. The banks have been counting this sham transaction for balance sheet valuation purposes. The county residents have been getting royally screwed...
What's more catastrophic than the fall of Rome; more devastating than the collapse of Germany's Wiemar republic after WWI; and worlds worse than the Great Depression of the 1930s? If you guessed the U.S. housing market in 2011 you're right. The ec
Phoenix real estate market being held up by all cash buyers – 47 percent of Phoenix sales were from all cash buyers in December.
Deutsche Bank is projecting that 48 percent of all U.S. mortgages could have negative equity by the end of 2011.
Foreclosures doubled between 2007 and 2010, and when you put this fact together with Meredith Whitney's chart showing the circle of destruction which starts with foreclosures, you have a really grim picture of the American economy.
When a plaintiff files a complaint asking for a declaration of clear title after a mortgage foreclosure, a judge is entitled to ask for proof that the foreclosing entity was the mortgage holder at the time of the notice of sale or foreclosure….
Right now there is a gigantic mountain of unsold homes in the United States. It is estimated that banks and financial institutions will repossess at least a million more homes this year and this will make the supply of unsold properties even worse.
If you look closely at this chart you will see the most dramatic drop of investment in single family dwellings in over 50 years. Stunning!
This problem is very much underdiagnosed because the servicer is judge, jury, and executioner as far as its charges are concerned. Borrowers find it a pitched battle to get the detailed payment records from servicers, even with a lawyer’s help.
Homeownership is falling at an alarming pace, despite the fact that home prices have fallen, affordability is much improved and inventories of new and existing homes are still running quite high.
This is an interview conducted by Business Insider Editor in Chief Henry Blodget In Davos.
Of the 1,055 Arizona home owners who have applied, only one has qualified for help from the program. A National Bank borrower is slated to get $40,000 knocked off a distressed home loan.
What happened is that the benefits for originating bad loans exceeded the cost of these negative consequences – someone was paying enough more for bad loans to overwhelm the normal economic incentives to resist such bad underwriting.
I have not seen one case that DID NOT have "legitimate issues", ie lack of standing, no causes of action, induced default, false placed insurance, bogus loan mod offers, escrow manipulations, robo-signing, false affidavits, defective assignments...
It's a system that was built to encourage banks to make mortgages and keep being able to make more. But the system also means that when homeowners stop making mortgage payments, the lenders who issued the mortgages don't take the biggest loss.
Foremost among them is a much higher ratio of renters to homeowners than the Phoenix area has seen in recent decades.
The hard-hit region led the nation in homes actually lost to foreclosure, and saw the numbers rise 17 percent from 2009.
Mr. Market has woken up to the fact that the Charlotte bank is particularly exposed to litigation risk. We were very critical of BofA’s purchase of Countrywide. As we said in January 2008:
But I wonder. Had there been a Dutch Tulip Inquiry Commission nearly four centuries ago, it would no doubt have found tulip salesmen who fraudulently persuaded people to borrow money they could never pay back to buy tulips.
Buyers purchased the fewest number of new homes last year on records going back 47 years.
One problem with this math could be that Schnapp assumes there will be very little income growth because of high unemployment so the only way to get back to normal is to lower the debt side of the equation through foreclosures.
During their unveiling of the FCIC report, they used words like deregulation, leverage, imprudent risk-taking, reckless behavior, failures at credit agencies, and failed regulators. Left out were words like crime, fraud, looting...
The latest forecasts for the housing market's recovery have been pushed out by another year because of slower-than-expected job and population growth and a bigger glut of home foreclosures than anyone expected.
It’s easy to see how the physical legal reality and the electronic record might not agree. As the lawyer keeps emphasizing in his questions, there is nothing here which would make a chain of transfers evidentiary of anything...
