Category Archives: Foreclosures

Q3 foreclosures fall, but indicators point to a jump on the horizon

Posted on October 13, 2011 by grim
Posted in Foreclosures, National Real Estate, New Jersey Real Estate | 147 Comments

From CNN: Foreclosures continue to plague housing market Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on. Nationwide, foreclosure filings totaled … Continue reading →

Bailout attempt #436 – Now we’re getting interesting

Posted on October 6, 2011 by grim
Posted in Foreclosures, Housing Recovery, National Real Estate | 123 Comments

From HousingWire: Bill allows tax-free use of retirement funds for mortgage payments A bill introduced in Congress would allow struggling homeowners to withdraw funds from their retirement accounts tax free to pay their mortgage. Sen. Johnny Isakson (R-Ga.) and Rep. … Continue reading →

Average NJ Foreclosure – 708 days late

Posted on October 4, 2011 by grim
Posted in Foreclosures, New Development, New Jersey Real Estate | 151 Comments

From Bloomberg: U.S. Homes in Foreclosure Average 611 Days Late on Payments U.S. homeowners facing foreclosure were a record 611 days late paying their mortgages on average as legal disputes delayed bank repossessions, Lender Processing Services Inc. said today. That … Continue reading →

RealtyTrac’s Sharga calls bottom (and gets a job at a mortgage company)

Posted on October 3, 2011 by grim
Posted in Employment, Foreclosures, Housing Recovery | 94 Comments

From HousingWire: Housing market hit bottom: former RealtyTrac exec The U.S. housing market hit bottom this year and will remain flat until 2014, when it will start to slowly recover, said Rick Sharga, an executive vice president with Carrington Mortgage … Continue reading →

Obsessed with fixing the unfixable

Posted on September 14, 2011 by grim
Posted in Employment, Foreclosures, National Real Estate | 149 Comments

There is an easy fix for negative equity. All we need to do is pick who loses. Do we (taxpayers) want to lose? Should the homeowner lose? Should the banks lose? Should investors lose? Should we all lose? From HousingWire: … Continue reading →

Screwed over a second time

Posted on September 12, 2011 by grim
Posted in Foreclosures, Housing Bubble, Risky Lending | 61 Comments

From the NY Post: $1T in sour notes It’s the flip side of foreclosure fraud: Not only is the city fireman in danger of losing his home, he also might wind up with smaller retirement checks because his pension invested … Continue reading →

Cue bailout attempt #74

Posted on September 7, 2011 by grim
Posted in Economics, Foreclosures, Mortgages, National Real Estate | 108 Comments

From HousingWire: NY Fed economists urge coordinated mortgage, unemployment aid Two economists at the Federal Reserve Bank of New York said states can design successful programs to help unemployed borrowers with monthly mortgage payments only if they are tailored to … Continue reading →

And they’re off! (again)

Posted on August 16, 2011 by grim
Posted in Economics, Foreclosures, New Jersey Real Estate | 79 Comments

From the APP: 4 banks given OK to resume foreclosures in N.J. Four lenders can resume foreclosing on homeowners who have defaulted on their mortgages after a state judge ruled Monday that she was confident the companies will no longer … Continue reading →

And they’re off!

Posted on July 18, 2011 by grim
Posted in Foreclosures, New Jersey Real Estate | 150 Comments

From the Star Ledger: Paramus bank the first to meet new court foreclosure filing standards Hudson City Savings Bank is in compliance with the state court’s new mortgage foreclosure filing standards, according to a July 12 document that was made … Continue reading →

Wrist slapping delayed a few weeks

Posted on July 18, 2011 by grim
Posted in Foreclosures, Housing Bubble | 124 Comments

From the NY Post: Mortgage megadeal is still weeks away America’s biggest mortgage servicers are still weeks from reaching a potential multibillion-dollar deal with federal and state officials to settle the foreclosure fiasco, The Post has learned. Key sticking points … Continue reading →

Kicking the can, prolonging the pain, delaying the inevitable, the new American Way

Posted on July 14, 2011 by grim
Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 189 Comments

From CNN Money: Foreclosures plunge in first half of 2011 Foreclosure filings fell dramatically during the first half of the year as processing delays at the banks, which are strapped with excess inventory of repossessed homes, continued to skew the … Continue reading →

NJ takes aim at foreclosure rescue scams

Posted on July 5, 2011 by grim
Posted in Economics, Foreclosures, New Jersey Real Estate | 161 Comments

From the Star Ledger: N.J. Legislature bill would regulate foreclosure rescue fraud, offer relief to distressed homeowners They call themselves “foreclosure rescue” companies, but in many cases they end up enriching themselves while destroying whatever credit-worthiness a distressed homeowner has. … Continue reading →

Incoming!

Posted on June 27, 2011 by grim
Posted in Foreclosures, Housing Bubble, Mortgages | 171 Comments

From the Star Ledger: Housing experts fear deluge when foreclosure filings start again In the past six months, an eerie feeling has settled in the offices of housing counselors and attorneys who confront the foreclosure crisis head-on and help distressed … Continue reading →

The Next Big Issue ™

Posted on June 27, 2011 by grim
Posted in Foreclosures, National Real Estate, Property Taxes | 156 Comments

From HousingWire: Suits allege Fannie, Freddie owe millions in real estate transfer taxes in Michigan Fannie Mae and Freddie Mac are using tax-exempt status to escape county fees levied during the recording of foreclosure property transfers, two Michigan county leaders … Continue reading →

Is there really a foreclosure problem if foreclosures aren’t happening?

Posted on June 19, 2011 by grim
Posted in Foreclosures, National Real Estate | 40 Comments

From the NY Times: Backlog of Cases Gives a Reprieve on Foreclosures Millions of homeowners in distress are getting some unexpected breathing room — lots of it in some places. In New York State, it would take lenders 62 years … Continue reading →