“There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing.” says David M. Blitzer, Chairman of the Index Committee at S&P Indices.
People who default on mortgages they can afford to pay are savvy about credit and tend to have better credit histories than other defaulters, new research shows.
U.S. home prices will fall 6 percent to 11 percent this year, more than previously forecast, as mortgages become harder to obtain and distressed sales drive down values, according to Morgan Stanley.
The HousingPulse DTI indicated that nearly half of the housing marketis now distressed properties. This trend is likely to continue as a backlog of foreclosures and mortgage defaults make their way through the housing pipeline.
Barry Ritholtz observes how a flawed metric from an industry advocacy group has fooled major media organizations into printing ridiculous claims.
Preposterous rules in Florida do not allow renters to pay water bills of foreclosed landlords who have closed accounts. The result is many surprised tenants wake up one morning, find their water shut off, and have no way to get it turned back on.
Only one question remains for Arizona residents: Are you going to sit for being screwed raw by this putrid viper or will you stand and do something about it?
The Senate passed this bill, by the way, 28-2. But after it passed something odd happened - it disappeared!
Home prices fell 5.7 percent since last year as foreclosures flooded the housing market and dragged down prices, the Federal Housing Finance Agency (FHFA) said on Thursday.
The Michigan Court of Appeals handed down a ruling yesterday essentially saying MERS has no authority to foreclose in the state of Michigan...
Scottsdale-based Realty Executives Inc. has not made a lease payment on its Pinnacle Peak branch office building since October, according to a landlord complaint filed recently in Maricopa County Superior Court.
A Financial Times article discusses an unlikely indicator of recovery: divorce rates have risen. One divorce attorney commented, “There is huge pent up demand.”
CNBC: Let’s Bulldoze The Foreclosed Homes Because the “Fixtures, the WIFI, or Whatever, Even the Color is Not Going to be Stylish By the Time Someone Buys Them”
Virginia Attorney General Kenneth Cuccinelli and six other Republican attorneys general assailed the proposal as overreaching, with four calling principal reduction a “moral hazard.”
There will be no recovery until the shadow inventory is cleared out. This backlog of properties hangs over any sustainable housing recovery like a dark cloud overhead. Many of these properties are still priced at values too high simply to inflate..
There's one problem here with these standards, if they're actually enforced: They make home price ramps impossible except through one means - the acceleration of household income.
Metro Phoenix's housing market took a turn for the better last month, and if current trends continue, home prices could start to climb again before the end of the year.
One knowledgeable Phoenix broker explained that his investor-clients are often 50 and older who have been pulled into residential investing because of the plunge in interest rates they’ve had to endure.
Yep. They were pumping that $8,000 "credit" for buying a house, remember? How'd it work out?
Of note is the completions number in one unit structures which came at what is probably a record low 374k. But since nobody cares about the actual final outcome...
Just when the country needs the most experienced and knowledgeable mortgage professionals to help liquidate the flood of foreclosed homes, the Fed is making it unprofitable for loan officers to accept these deals."
“I know people who have watched their home values get cut in half, and I know people who are losing their homes,” said Pauli, 31, who works as a property manager for a real estate company. “It’s part of the American dream to want to own your...
Buenos Aires, Argentina – Buenos Aires is beautiful. We have been blessed with good weather. The city is booming, too. Strong agricultural prices have done what they always do in Argentina – they’ve set off a boom. “Property prices are up abou
The appropriate legal standard cannot be "well, most of the time the people who we kick out of their houses weren't paying." It has to be in each and every case we documented that the person who we kicked out of their house wasn't paying...
The failure to transfer a promissory note from Countrywide Financial to the security trust in this case was not an isolated error—but a matter of policy at Countrywide Financial. If mortgage-backed securities aren't in fact "mortgage-backed,"...
6.7 million delinquent mortgages are waiting to flood the market around the country -- and with near-zero cure rates most of them will. Another 2 million homes in foreclosure are being held off the market by banks.
The current end run is apparently led by the Ministry of Bank Boosterism more generally known as the OCC and comes via consent decrees that were issued Wednesday...
The federal government ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon. Government regulators also directed the financial firms to hire auditors to determine how many ho
According to the latest Pew survey, only a minority of Americans think that their home has fallen in value since the recession began in December 2007. And the poorer and less educated you are, the less likely you are to think your home has...
Obviously, this is a situation that has to be resolved as USSA kleptocracy can not be forced to pay for prior (and ongoing) transgressions. Which is why we were not surprised to learn that "Bank regulators plan to announce settlements...