Short Sale News

In this article, Courtney Edelhardt comments on an observation that slow sales of bank owned homes (presumably made by economists that were employed by the local real estate board) is stabilizing the local real estate market. The only way that slow sales of bank owned properties can stabilize the market is if the number of […]

Politicians….you can’t live with them and you can’t…….I’ll stop here….I can live without politicians! As most people know Florida is a judicial state meaning that lenders/investors have to go through the court system in order to foreclose. Some of our genius politicians are proposing that lenders be allowed to go through a non judicial foreclosure […]

Pallavi Gogoi reports on a a recent finding that should, but isn’t. Shocking. Robo signing has been going on for years. Studies done show that the deliberate falsification of mortgage documents date back to the late 1990’s. “Because of these bad titles, property owners can’t prove they own the properties they think they bought, and […]

What effect will a protest have on Fannie Mae’s ability to foreclose? Not much (as the article points out). What it does do is add a voice to those who feel that their home was taken away in an unjust fashion.

This an interesting article with a simple twist. The article points out that a high volume of people that are denied loan modifications are being offered short sales and or deed in lieu. On the outside, it would appear that the bank is making an effort to help homeowners by offering alternatives to foreclosure. For […]

Marcie Geffner from Bankrate.com brings us an article which discusses, full circle, the effect that foreclosures have on buyers and sellers. She starts off by stating what I believe to be true…..the foreclosure crisis is far from over. The shadow inventory is building. When these homes are released for sale, the low prices (average discount […]

As most of you know, I am a big supporter of our military. Without them, you wouldn’t have been able to complain about that cold cup of coffee that you returned to Starbucks yesterday! While I typically provide commentary on articles, this article is one that you will want to read if you have a […]

Doug Kass from The Street Certainly thinks so. Mr. Kass points to several data points that seem to point to a recovery. According to Mr Kass research, the unemployment rate is going down, the shadow inventory is going down, the affordability index is going up and the mortgage rates are remaining at historically low levels. […]

Massimo Calabresi from Time reports on how Iowa’s Attorney General Tom Miller recently accepted $15,000 in campaign contributions from (2) individuals who have vested interest in the government and the attorney generals NOT coming down on lenders for their bad deeds. You might ask who Miller is. Miller, “…. took the lead on the investigation […]

I liked the headline so much I had to borrow it from the author of the article, Greta Guest from the Detroit Free Press. While the article points out the obvious that short sales can and do take a tremendous amount of time to complete, the article also points out the role the private mortgage […]

By now, everyone has probably heard about Bank of America’s trial short sale program. if you haven’t, Mark Puente from the St. Petersburg Times does a nice job of laying out the specifics behind the program. What is confusing is that their is no method to who BOA chooses for this program. If the program […]

No we are not talking about ice cream! As the article below states, Barclays expects a continuation of the recession with a corresponding drop in home prices. While this may be old news to everyone, the most interesting part of the article touches on the effect of REO’s and the shadow inventory which is lurking…..you […]