Category Archives: Foreclosures

Foreclosure crisis over?

Posted on September 12, 2013 by grim

From CNN/Money: Foreclosure crisis is drawing to a close Our long national foreclosure nightmare may be over. The number of new foreclosure filings in August hit its lowest level in nearly eight years, according to RealtyTrac, an online marketer of … Continue reading →

Posted in Foreclosures, Housing Recovery, National Real Estate | 95 Comments

Negative equity falls, still a long way to go

Posted on August 30, 2013 by grim

From CNBC: Home values rise, but millions still drown in debt More than three million U.S. borrowers have risen above water on their mortgages so far this year, thanks to swift home price appreciation, according to a new report from … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Mortgages, National Real Estate | 67 Comments

Anyone surprised?

Posted on August 29, 2013 by grim

LISTEN UP! Clear your calendars now, I don’t care what you committed to. Today – 6:30 PM — Montecristo Lounge at J&R Cigars, 301 Route 10 East, Whippany, NJ 07981 No excuses. ———————————— From the Washington Post: Regulators relax proposed … Continue reading →

Posted in Foreclosures, Politics, Risky Lending | 48 Comments

Delinquencies improve, but procedural delays plague NY/NJ

Posted on August 17, 2013 by grim

From the NYT: Delinquencies on the Decline In another sign of an improving market, mortgage delinquencies and foreclosures are down significantly since last year — although procedural impediments have tempered progress on the East Coast, especially in New York and … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Mortgages | 100 Comments

Why a private mortgage market might not be a good idea

Posted on August 13, 2013 by grim

From the NYT: In one bundle of mortgages, the subprime crisis reverberates A subprime deal came back to haunt Fabrice Tourre, a former Goldman Sachs trader, when a federal jury in Manhattan found him liable for civil securities fraud. He … Continue reading →

Posted in Foreclosures, Housing Bubble, Mortgages, Risky Lending | 247 Comments

Richmond, CA moves forward with nuclear option loan mods

Posted on August 2, 2013 by grim

From CNN/Money: California city’s drastic foreclosure remedy: Seizure The California city of Richmond said Tuesday that it’s ready to take an extraordinary step in its bid to stop foreclosures — threatening to wrest mortgages from the investors who now control … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 98 Comments

Is the foreclosure crisis over?

Posted on July 10, 2013 by grim

From Inman News: The foreclosure crisis is over It’s been a long haul since the housing bubble burst in 2006 but there’s growing evidence that the foreclosure crisis is quickly winding down even as a stubborn batch of bad loans … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery | 48 Comments

Governor keeps state out of the real estate business

Posted on July 2, 2013 by grim

From the Courier Times: Christie conditionally vetoes bill to create state program to buy foreclosed properties A controversial housing bill intended to help reduce New Jersey’s glut of foreclosed homes was vetoed by Gov. Chris Christie for a third time. … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics, Risky Lending | 40 Comments

Banks taking advantage of higher prices … to foreclose

Posted on June 13, 2013 by grim

From Bloomberg: Foreclosures Jump as Banks Bet on Rising U.S. Home Prices Home repossessions in the U.S. jumped 11 percent in May after declining for the previous five months as rising prices and limited inventory for sale across the country … Continue reading →

Posted in Economics, Foreclosures | 45 Comments

Banks halt foreclosures … again.

Posted on May 20, 2013 by grim

Will we ever get through the backlog? From the WSJ: Some Banks Halt Foreclosures, Citing Regulator’s Bulletin Some of the nation’s largest banks, including Wells Fargo & Co., suspended foreclosure sales in a number of states following guidance issued last … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate | 68 Comments

Why home price gains are lagging here

Posted on May 19, 2013 by grim

Same dynamics apply to NJ. From Newsday: Why Long Island home prices are rising slower than the U.S. average U.S. home prices are up about 10 percent right now from the same time last year, multiple national reports have shown, … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery | 36 Comments

NJ foreclosures up 138% in April

Posted on May 9, 2013 by grim

From the Record: New Jersey foreclosures starts climb Foreclosure filings in New Jersey, which had been held up by legal issues, spiked to the highest levels in more than two years in April as a long-running logjam in the courts … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 125 Comments

Obamahouse?

Posted on May 6, 2013 by grim

From CNBC/The Street: Mortgage Forgiveness Presents Challenges in Housing Recovery Deeply indebted homeowners with government-backed mortgages may have a fresh shot at receiving meaningful mortgage relief, but it will likely come with strings attached. Earlier this week, President Obama nominated … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Politics | 56 Comments

The other foreclosure crisis

Posted on April 29, 2013 by grim

From the WSJ: Warning: Property Foreclosures Ahead Many small firms that own commercial property are facing big trouble. The problem is simple: Banks typically re-evaluate commercial mortgages every five to 10 years. At that point, they can renew the loans, … Continue reading →

Posted in Economics, Foreclosures | 96 Comments

Taibbi – Foreclosure review a sham

Posted on April 27, 2013 by grim

From the Rolling Stone: While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion The obscene greed-and-arrogance stories emanating from Wall Street are piling up so fast, it’s getting hard to keep up. … Continue reading →

Posted in Foreclosures, Politics, Risky Lending | 34 Comments