Homes will sell if priced right; foreclosures have impact
Stephanie Armour from USA Today brings us an article that highlights what I have been preaching for years…..Homes will sell if they are priced correctly! In this market where , in most areas throughout the country, the only way to price an over leveraged property correctly is via a short sale. You realtors out there […]
SOME BANKERS ACTUALLY DO HAVE HEARTS!!
Marcus Garner from the Atlanta Journal-Constitution brings us an article that puts a few check marks in the bankers column. After Jamaal Anderson was killed in combat in Iraq, his mother (who lived with Jamaal and his son) fell behind in payments. The condo was supposed to be auctioned off last week, but attorneys for […]
Buyer Beware When Buying At The Courthouse Steps!!
Carolyn Said from the San Francisco Chronicle brings us an article that would be humorous if it weren’t so disgusting. Last week I wrote about SunTrust going above and beyond the call of duty to help out the family of a fallen soldier. This week, Wells Fargo takes the cake for ripping off an unsophisticated […]
FORECLOSURES ARE DOWN…..FOR NOW…
Brendan McLaughlin reports on a deceiving statistic reported recently from Tampa. In January there was a downward trend in foreclosures in the Tampa area. This is deceiving in that many lenders instituted foreclosure moratoriums during this period of time. In addition, banks are holding a tremendous number of foreclosed homes in their inventory (i.e. they […]
Tenants Rights??
Martin Eichner from the Los Angeles Times brings us an article that taught me something. Everyone knows that tenants have rights during the foreclosure process (see Protecting Tenants at Foreclosure Act). They also have rights after the house that they are living in has been foreclosed on. Where they don’t have as many rights is after […]
Foreclosed On—By the U.S.
Serena Ng and Carrick Mollenkamp from the Wall Street Journal wrote an article about a problem our woeful government has inherited. When our government decided to bail out the thimble heads from Bear Stearns, they inherited a portfolio of commercial and residential real estate. Guess What? The government is about to foreclose on many of […]
The New Face of Foreclosures
AnnaMaria Andriotis brings us an article that highlights the growing problem of foreclosures. While Florida, California, Arizona and Nevada account for 50+ % of the nations foreclosures, the problem is spreading to smaller communities around us. During the first half of 2010, nearly 75% of all metropolitan areas posted increases in foreclosure filings. An 8.3% […]
You Know It’s Election Time When….
You know it’s election time when the government continues to boast about how effective their acronyms…I mean programs….are when they really aren’t effective. Alex Veiga from the Huffington Post brings us an article that outlines the true statistics. Mr. Veiga reports that, “July makes the eighth month in a row that the pace of homes […]
Why Should Banks Benefit?
Vicki Needham from The Hill brings us an interesting article about the governments latest stab at helping the market. The newest program will provide $3 billion dollars to help people that can’t pay their mortgages….pay their mortgages. While I have obviously heard of the program, Ms. Needham takes a very interesting look at what this […]
Pull Out Your Crystal Ball!
Don’t you just love when “experts” throw around silly predictions?! Alejandro Rajo of the Los Angeles Times polled 5 so called “experts” regarding what they felt the housing market would do in California in 2011. Some said it would go lower, some higher and others flat! Go figure! Foreclosures and unemployment are up while housing […]
Let’s Add More Layers!
Looks like Bank of America’s solution to their never ending foreclosure problem is to add more layers! The Los Angeles Times reports that BOA has named a foreclosure “Czar” (don’t you just hate that over used name……..reminds me of our government…..we know where they have gotten us!) to head up this new unit. The article […]
Massachusetts Foreclosure Ruling Threatens Mortgage Handling
The Supreme Judicial Court in Massachusetts made a pivotal ruling on Friday against U.S. Bancorp (NYSE: USB) and Wells Fargo (NYSE: WFC) in a mortgage foreclosure case. The higher court confirmed the lower court’s ruling which invalidated several foreclosure sales because proof of mortgage ownership was not clear. “This decision is going to raise serious […]