From CNN Money:
Where zombie foreclosures are making a comeback
Vacated by the homeowner and left unattended, zombie foreclosures are still plaguing many housing markets.
Nearly one in four homes in foreclosure at the end of January were already abandoned by the owner before being repossessed, a recent RealtyTrac report found.
And while the number of zombie foreclosures has fallen 6% from the year before, 19 states have seen a resurgence, including New Jersey, New York and California.
The state of New Jersey, for example, saw a 109% increase in total zombie foreclosures, with surges in metro areas like Atlantic City and Trenton. Meanwhile, New York saw a 54% increase, with jumps in the Albany, Poughkeepsie and the New York City metro areas.
Other states, including North Carolina, Tennessee and Virginia, have also seen significant increases in zombie foreclosures over the last year.
Zombie homes often have uncut lawns, shuttered windows and other signs of neglect that can turn away buyers and drag down the value of nearby homes.
…
But an increase in zombie foreclosures isn’t always a bad thing, said Blomquist. He said more of those abandoned homes are finally making their way through the foreclosure process, and are now closer to being resold or demolished.“Some of these have been sitting there and the bank hasn’t started foreclosure for years,” said Blomquist. “The fact that they’re entering into the public record data that we’re collecting is an indication that the banks are finally moving forward with them.”
The states where RealtyTrac found the most zombie foreclosures — Florida, New Jersey and New York — are also among the states with the most drawn-out judicial foreclosure processes, said Blomquist.
According to RealtyTrac, it takes an average of 1,057 days, or nearly three years, to foreclose in New Jersey, 946 days in Florida and 934 days in New York, waits that are exceeded only by the delay in Hawaii.
Does Blumenthal have any working neurons? Honestly, cognitively, is he alright?
Watching the news this morning and he comments how the lack of bells on the closing gate are an indication that the RR crossing at the MetroNorth crash may be ‘defective’ and how the driver may not have ‘heard’ the train.
I truly have sympathy for the family of the woman driving the SUV and the families of the other victims.
But isn’t there more to this story? How does a driver miss the 40 feet high RR painting on the road, the yellow RR reflector signs, the white sign saying ‘Don’t stop on the tracks’, the flashing red lights, the closing reflective gate, and the gate hitting her vehicle?
And then respond by getting out of the vehicle *on the wrong side of the gate*, getting back in, pausing, and then driving forward onto the tracks toward the other closed gate?
Maybe autopsies or investigations will reveal what happened here but, no Senator, I don’t think ‘bells’ were the problem. Idiot.
Haha. First i guess, for the first time.
third baby!
[1&2] That’s only for weekdays. Third gets the gold medal on weekends. It’s in the new member handbook, appendix B.
Judicial foreclosure is BS except in as it adds to cost, not time. The real issue is the banks are unwilling to sell into a market they will tank by their own actions. It’s directly analogous to being a large institutional investor in a thinly traded stock. There simply is no way to get out quickly without taking a huge hit on price(not to mention recognizing the loss). That’s why defaulted mortgagers are allowed to live rent free in hopes that they do some semblance of maintenance to keep the property somewhat livable and not cut out the copper pipes to sell for scrap.
The states where RealtyTrac found the most zombie foreclosures — Florida, New Jersey and New York — are also among the states with the most drawn-out judicial foreclosure processes, said Blomquist.
4. hahaha, google. took maybe 4-5 years of, uhm, gardening leave.
good to be back though. nice to see clot hasn’t changed ;)
although there hasn’t been a good firearm discussion lately.
and who was it that had the crossbow?
[6] LOL. The first time I was on gardening leave was 1979. I got fired in August (college summer job) at McDonald’s for questioning payroll accounting practices. I applied for unemployment and received it. When I went back to college in September I was getting $96 every two weeks in the form of a NJ UE check, which made me about the richest kid on my dorm floor. I took it as implicit gardening leave to not seek another part-time job.
I just looked at three houses online; two in Woodcliff Lake and one in Wash. Twp. and all three are vacant. I’ll visit two of them today. Last week, I visited a house in the Sicomac area of Wyckoff that was also vacant and learned that the dirt there is only worth a little over $300,000.
Let’s stop the music, have a seat and cut the bullsh1t, ok? The pain felt in the towns that we wouldn’t consider is equal to the pain felt in the towns we would consider. We’re 20% below pricing from 2006 and the cover-up is becoming increasingly more difficult to sustain. The stench is getting close to becoming unbearable. The only thing I wish for is for the FED to step aside in order to grant the weak muppets a timely death.
Clot,
Thanks for the compliment. More fabian takedowns at end of prior thread.
I went back to the thread and piled on. He is such a pedantic, self-contradictory twit that baiting him is sort of like teasing a really stupid dog.
I think it all boils down to the fact that it’s hard to evade taxes in gluteus’ homeland.
http://nypost.com/2015/02/07/rex-ryans-exorbitant-cost-for-his-nj-home/
5 – While conceptually the argument you are making is plausible, the rate of REO/Foreclosure in other states proves it to be inaccurate. Given that most lenders are not local, it would make no sense for a lender to be liquidating at a high rate of speed in Florida or Nevada, who have seen larger price declines than NJ, and hold NJ foreclosures back for pricing reasons.
NJ’s slow rate of judicial foreclosure is by design, there is an active and concerted effort to keep the pipeline closed.
Think of it as NJ’s gift to homedebtors. Social support paid for by the lenders.
Here is an empirical example of the cutting edge technology and the dynamic economic growth engine of FlabMax’s Elite 140 roots:
https://www.youtube.com/watch?v=auYkScAuYSI
NJ’s slow rate of judicial foreclosure is by design, there is an active and concerted effort to keep the pipeline closed.
Cover up the housing crimes at all costs.
Sold twice in the last few years. Why? And the current muppet bag holder has the f.ucking balls to price it $40,000 higher than what they paid for it. Even a pea-brained mor0n wouldn’t pay more than the last sold price mere months ago. Then again, look at the sea of f.uck-ups that signed contracts during the scam years based on the advice from ex hair technicians.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1504141&dayssince=&countysearch=false
14. Well Fargo has an abandoned place next door to my parent’s house in FL. Pure stupidity really. House is probably so fargone by now that it needs to be torn down. Meanwhile the prices in my parent’s neighborhood have rebounded almost to the pre-meltdown levels.
Banks can barely conduct their core business adequately. They are simply over their f*cking heads when it comes to anything else. Stupid banks should have been left to fail.
Stupid banks should have been left to fail.
Disagree. No one put a gun to people’s heads. They signed the contract willingly. If one can’t figure out the amount of leverage one can handle, then let them go to debtor’s prison.
Sold for $695,000 in 2006; currently asking $437,000.
Any questions?
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1442222&dayssince=&countysearch=false
19. banks made the bets – the people bailed them out.
[12] clot
As for his tax regime, I have to take your word for it. It’s hard enough learning ours, let alone learning his (and I have no reason to).
chi (15)-
Mandolins and banging. These people are basically cavemen that have been given whiskey.
gary (19)-
Disagree. Banks (esp. like WF) equally culpable. They DID go looking for people who were financially illiterate, and they DID everything that they could to ropethem into liar loans. Predatory lending, I’m sad to say, was not a fiction dreamed up by liberal wiener losers. It did happen, and I saw it happen hundreds of times.
plume (22)-
I bet beating the game in either country is a rather simple and straightforward process.
Happy day for Clot… Spurs beat Gooners 2-1. Others, not so much :-)
[25] luge
Evasion is simple enough. The key is to make and keep the money off the grid. Plumber who reports 40K net and buys a Bayliner and a Navigator to pull it is asking for an audit.
Avoidance is like playing whack-a-mole and we are the moles.
[26] moose
That gets clot only halfway there. Toon needs to beat the potters tomorrow and everyone above the gooners needs to win to keep them down.
But its nice to see the gooners stumble. Adds to the warm afterglow I still have 6 days later.
“Stupid banks should have been left to fail.
Disagree. No one put a gun to people’s heads. They signed the contract willingly. If one can’t figure out the amount of leverage one can handle, then let them go to debtor’s prison.”
I’ll agree with each of you. Stupid borrowers and stupid lenders should both have been allowed to fail quickly and cleanly.
@inmylife4747: #Palin’s speech “…’incoherent, a farce, unseemly’ – words that might have stung Sarah if she knew what they meant.”
@Picassokat:
Bill Maher: If Sarah Palin had a stroke, how would we know?
Another gutless, middling performance by the Gooners today. Of course, they aim for no higher.
anon, you might as well retweet Britney Spears here.
Re Tool [30-31];
Leftists launch personal attack on successful woman. NOW unavailable for comment?
#RealWarOnWomen
[14] There sure are a lot of bank employees living in NJ for the banking business not to be local. Maybe it’s a two pronged effort, NY/NJ Banks and Trenton pols. They might just be waiting for all the house sitters to save up enough cash by not paying their mortgage so that they can all buy a neighbors house. Problem solved.
Given that most lenders are not local, it would make no sense for a lender to be liquidating at a high rate of speed in Florida or Nevada, who have seen larger price declines than NJ, and hold NJ foreclosures back for pricing reasons.
I learned at an early age (12) that banksters are stupid when they gave me silver dollars (the real deal 90% – Morgans and Peace) for paper money. This was in the 70s and 80s! A few even into the early 90s! (twice then I said what the heck, while I’m here I’ll ask).
On another note (pun intended) my brother-in-law finally has to leave his house in Florida after not paying his mortgage for six years! No, he is not being evicted the place is being auctioned off on 2/21!
Also Florida and Nevada are “trough” states that just collect humans on their way down the social ladder, so the demand for housing is ostensibly always going up. You never hear someone say, “I’ve had enough of this place, I’m just going to pack up and move to New Jersey.”
[36] A 1964 quarter buys more gasoline today than it did in 1964.
http://www.1960sflashback.com/1964/Economy.asp
http://www.coinflation.com/coins/1932-1964-Silver-Washington-Quarter-Value.html
BTW – First time I ever heard the word ‘Bankster’ was in 1997 when looking at properties about to be foreclosed upon with Carlotta Luck (Coldwell Banker agent). Anyone remember her? What a character! No nonsense old lady in the business forever that knew everyone and everything. Did several deals with her. I think she thought of me as the ‘good’ grandson she never had.
She passed just before the bubble burst but when it was inflating was agast with asking prices and mirror fogging mortgages, said it couldn’t last.
After signing a contract to sell a property (price was ridiculous) for me back in ’04 she asked if I had any whiskey. Did two shots!
They don’t make ’em like that anymore.
17
The galley kitchen and double yellow line road will keep the buyers away from this one.
20
With that price drop, wouldn’t that suggest a bag holding muppet who has come to their senses?
#12 Clot
We found a great way to clear up tax evasion. Change the currency. Its amazing how much tax is paid when you tell people they have six months to go the banks to change their old money for new.
#15 Chi
There has been some consolidation and weeding out of the weeker members. The 140 is down to 56 and only 10 left in North America.
You do realise Flatley is American and pretty much hated by everyone.
I suppose you are right, how can my culture ever measure up to your own rich heritage of Albanian goat hearding.
Gluteus, when you’re in a hole, the first rule is to stop digging.
Not something that comes naturally to a Gooner.
Wanker looks like a sad little boy in situations where his “elite” side must get their shirts dirty and defend.
Fighting, alcoholism and revenge. And, a national day to glorify them.
Name the culture.
#22
“As for his tax regime, I have to take your word for it. It’s hard enough learning ours, let alone learning his (and I have no reason to).”
And that’s why I call you Eddie Ray. With some of the International stuff you post, if people followed it, they could end up with a trip to the big house.
#45 Clot
Spurs win a Derby every now and then. I saw a nice statistic that they have never finished above us in Wegners reign. Also the Toon record and the number of Toon managers he has seen come and go, doesn’t give you much to work with.
We are the only people that stood up to the Ottomans…..it is akin to the Mujahideen versus the Soviets……
Fabius Maximus says:
February 7, 2015 at 3:42 pm
I suppose you are right, how can my culture ever measure up to your own rich heritage of Albanian goat hearding.
#47
“…they could end up with a trip to the big house.”
Is that underwater in a thrown together with cheap materials center hall colonial situated somewhere around extreme northwest NJ surrounded by corn and cows?
this it?
http://www.coldwellbankermoves.com/property/details/4385273/MLS-3196425/104-Oak-Ridge-Ave-Summit-NJ-07901.aspx
chicagofinance says:
February 7, 2015 at 9:08 am
http://nypost.com/2015/02/07/rex-ryans-exorbitant-cost-for-his-nj-home/
Surprisingly, the world didn’t end.
In Illinois, concealed carry of guns has quiet first year; expansion sought
http://a.msn.com/r/2/AA8Y7DO?a=1&m=EN-US
[47] Fabian
I don’t post much on code provisions re cross border tax; it’s usually policy. Not that I’d expect you to know the difference and it’s pretty clear you don’t. I also haven’t to my knowledge commented on the tax laws of other countries so I don’t know where that comes from. Finally, I’m not offering advice here so I don’t know what there is to follow.
This whole Monty Python Black Knight thing of yours is tiresome. But I suspect I’m not the first person to tell you that.
And I’d rather be called Eddie Ray than an irritating c#nt.
We are the only people that stood up to the Ottomans…..it is akin to the Mujahideen versus the Soviets……
Thought the Poles defeated the Ottomans in the Third Polish Ottoman War, forcing them to sign the treaty of Karlowitz in 1699, ending their control over central Europe.
They also fought side by side with the Germans at the start of the Third Polish Ottoman War, defeating the Ottomans at the Siege of Vienna.
Although slightly before that time, it (the polish-lithuania commonwealth) was the largest country in Europe, stretching from the Baltic to nearly the Black sea.
They even managed to hold a siege on Moscow and had captured it for two years.
I’ve never really figured out exactly who ‘ends up in FL’….I will say that those with $$$ can enjoy some real perks. A pretty good lifestyle, nice weather, etc. There are some decent jobs, but not a place where you go to build a career.
34. Successful people usually complete something….like terms of their elected offices for example. Successful people often “do” something. Other than spew vitriol and nonsense.
Sx [58];
I guess we agree that Obama is a failure then. Never completed an elected term to Senate…
You know I’m half Balkan/half Baltic……..many more Lithuanians in my bloodlines, but they were all liquidated 75 years ago……..I managed to persist like a c0ckroach…..
grim says:
February 7, 2015 at 5:37 pm
They also fought side by side with the Germans at the start of the Third Polish Ottoman War, defeating the Ottomans at the Siege of Vienna.
Although slightly before that time, it (the polish-lithuania commonwealth) was the largest country in Europe, stretching from the Baltic to nearly the Black sea.
They even managed to hold a siege on Moscow and had captured it for two years.
59. I agree that you agree that I agree. K?
#53 Eddie Ray
Was HNW Americans taking Canadian citizenship policy or provision?
#54 Eddie Ray
Such a delicate little ego. I read a lot lately on the personality of lawyers. A lot went further that just they are all sociopaths. Lots of unhappiness, and mental heath issues.
https://leavinglaw.wordpress.com/2014/08/28/perfection-depression-and-lawyers/
Stay Classy San Diego!
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