Category Archives: Foreclosures

David Stern Disbarred

Posted on January 14, 2014 by grim

From Mother Jones: Fallen Foreclosure King David J. Stern Disbarred The long, legal saga of David J. Stern, the south Florida attorney who made a fortune off the wave of home foreclosures stemming from the housing crisis, has reached its … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate | 126 Comments

Shadow inventory continues to decline

Posted on January 10, 2014 by grim

From HousingWire: Foreclosure pipeline drains out he number of U.S. homes in foreclosure fell 29% in November with 46,000 completed foreclosures reported, a decrease from 64,000 in November 2012, CoreLogic’s foreclosure inventory report found this week. On a month-over-month basis, … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 150 Comments

Why expect a pipeline to flow if one end is purposely closed up?

Posted on December 29, 2013 by grim

From the Press of Atlantic City: New Jersey foreclosure pipeline remains clogged The number of homes entering foreclosure across the nation is at its lowest level in years, but a persistent backlog has left New Jersey stuck at year’s end … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 20 Comments

NJ’s inability to foreclose costs everyone

Posted on December 12, 2013 by grim

From HousingWire: Four states face sticker shock from g-fees, adverse market fees Four states failed to make the exclusive list of 46 states that no longer have to provide the upfront 25-basis point adverse market fee: New York, New Jersey, … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 114 Comments

NJ’s foreclosure constipation

Posted on December 10, 2013 by grim

From the Star Ledger: New Jersey foreclosures continue, but number of homes in the pipeline falls The number of New Jersey homes in the foreclosure pipeline continues to shrink, but slowly. According to CoreLogic, more than 4,500 homes completed the … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 37 Comments

Help Borrowers? Does Not Compute.

Posted on December 5, 2013 by grim

From the NYT: Banks Fail to Comply With Parts of Mortgage Settlement, Report Says Three of the nation’s largest mortgage lenders are still failing to comply with key requirements of a national settlement over mortgage abuses, according to a new … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 82 Comments

But … did it work? (My guess is no)

Posted on November 29, 2013 by grim

From the Star Ledger: State to end program for homeowners fighting foreclosure as federal money nears end After a shaky start, New Jersey has disbursed more than two-thirds of the federal funds it received in 2010 as part of the … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 107 Comments

Mortgage performance continues to improve

Posted on November 23, 2013 by grim

From the NYT: Delinquency Rates on the Decline As the economy improves, the number of borrowers who are seriously behind on their mortgage payments continues to decline. The enhanced outlook is such that even those in delinquency are feeling more … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Risky Lending | 68 Comments

No more love for bad loans

Posted on November 14, 2013 by grim

From Bloomberg: HUD Said to Fail in Bid to Sell $450 Million of FHA Mortgages The U.S. Department of Housing and Urban Development for the first time failed to sell some of the soured mortgages it’s auctioning off in the … Continue reading →

Posted in Economics, Foreclosures, Mortgages, Risky Lending | 106 Comments

Sandy’s Foreclosures

Posted on October 31, 2013 by grim

From the NY Daily News: Even with surge in foreclosures post-Sandy, real estate prices in Queens, Brooklyn rise One year after Hurricane Sandy, New York area homeowners are drowning under a wave of foreclosure notices. In a sign that Sandy … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, NYC | 139 Comments

Foreclosure Schmoreclosure

Posted on October 18, 2013 by grim

From the WSJ: Foreclosure Haunts Next Home Purchase Jumbo borrowers who went into foreclosure a few years ago are learning the hard way: You can’t go home again. Affluent home buyers attempting to get back into real estate after defaulting … Continue reading →

Posted in Foreclosures, Housing Recovery, Risky Lending | 79 Comments

Foreclosures at 7 year low (except in NJ)

Posted on October 11, 2013 by grim

From CNBC: Fewer US homes entered foreclosure track in third quarter The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners … Continue reading →

Posted in Economics, Foreclosures, National Real Estate, New Jersey Real Estate | 130 Comments

Zombie invasion reaches NJ

Posted on October 4, 2013 by grim

From the Star Ledger: Half of foreclosed homes in New Jersey have ‘vampires’ living in them One of every two New Jersey homes that has gone through foreclosure and is now owned by a bank still has its previous owners … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 181 Comments

First Zombies – Now Vampires – It must be Halloween

Posted on October 3, 2013 by grim

From Marketwatch: ‘Vampire’ foreclosures are what’s keeping bank inventory high, analyst says As if rising mortgage rates aren’t scary enough, analysts have identified a lurking threat to housing: “vampire” properties. These “vampire” properties are bank-owned foreclosed homes in which prior … Continue reading →

Posted in Foreclosures, National Real Estate | 177 Comments

Even the mortgage companies didn’t expect them to pay

Posted on September 26, 2013 by grim

From HousingWire: FHFA watchdog sounds alarm on $4.6B loss Mortgage giant Freddie Mac failed to refer nearly 58,000 foreclosed homeowners who owed $4.6 billion on their guaranteed loans, thereby neglecting its chance to seize properties from those who defaulted on … Continue reading →

Posted in Economics, Foreclosures, National Real Estate, Risky Lending | 72 Comments