Category Archives: Foreclosures

How the Fed learned to stop worrying and love bad loans

Posted on April 11, 2012 by grim

From the Wall Street Journal: Jersey Rejuvenation Story About six years ago, Newark, N.J., seemed to be winning its long struggle to emerge from decades of urban decay, and one of the symbols of that was the opening of Eleven80, … Continue reading →

Posted in Foreclosures, New Development, New Jersey Real Estate, Risky Lending | 145 Comments

Bizzaro Weekend Edition – Foreclosure delays helping the economy

Posted on April 7, 2012 by grim

From Barrons: Consumers’ Quiet Helper: The Fruits of Foreclosure Imagine living at home and paying no mortgage, interest or taxes. That may sound like some late-night TV commercial, but millions of people are doing just that—the silver lining to having … Continue reading →

Posted in Economics, Foreclosures | 30 Comments

Foreclosure tsunami on the horizon?

Posted on April 5, 2012 by grim

From Reuters: Americans brace for next foreclosure wave Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 106 Comments

Otteau: “We are at a turning point in the housing market and the economy”

Posted on March 26, 2012 by grim

From the Record: N.J. housing market recovering, appraiser says New Jersey’s housing market is recovering, and this spring’s home-selling season will be the liveliest in four years, appraiser Jeffrey Otteau said Monday. “We are at a turning point in the … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 139 Comments

Fast tracking abandoned homes

Posted on March 19, 2012 by grim

From the Star Ledger: Housing, banking advocates hail measure to speed foreclosures of abandoned homes A piece of state legislation that looks to turn foreclosed homes into affordable housing also contains a little-noted provision that banking and housing experts say … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Politics | 156 Comments

Anyone have the number for Roto-rooter?

Posted on March 9, 2012 by grim

From HousingWire: CoreLogic: Clogged foreclosure pipeline in Northeast slowing recovery Real estate data firm CoreLogic says recent employment growth, low mortgage rates and home affordability are signs of a breakthrough in the American economy. CoreLogic released its latest MarketPulse report, … Continue reading →

Posted in Foreclosures, Housing Recovery, New Jersey Real Estate | 137 Comments

Forclosure activity ticks higher as lenders resume resposessions

Posted on March 7, 2012 by grim

From Reuters: Foreclosure starts jump 28 percent in January : LPS Starts on U.S. home foreclosures shot up 28 percent in January, data provider Lender Processing Services (LPS.N) said on Tuesday in a report that suggested paper backlogs that had … Continue reading →

Posted in Foreclosures, National Real Estate, Risky Lending | 134 Comments

Does more REO mean lower prices?

Posted on March 6, 2012 by grim

From HousingWire: Home price declines resilient against REO saturation: Clear Capital National home prices fell by the smallest margin in 10 months in light of REO saturation increases, a trend that Clear Capital calls “unusual and encouraging.” Prices declined 1.9% … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery | 91 Comments

Seller’s Market Buyer’s Market Renters Market! (and a squatter’s market too)

Posted on February 24, 2012 by grim

A Two-Parter from Bloomberg (Hat tip Chi!): Why Renters Rule U.S. Housing Market (Part 1): A. Gary Shilling The collapse in housing and the 33 percent plunge in house prices since 2006 are favoring renting over homeownership. This trend will … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Politics, Risky Lending | 164 Comments

NJ foreclosure conversion deal moves forward

Posted on February 17, 2012 by grim

From the Record: NJ Senate panel OKs bill turning foreclosed property into affordable housing A Senate panel unanimously approved a measure Thursday that would let municipalities and a new state corporation buy foreclosed homes and offer them to low- and … Continue reading →

Posted in Foreclosures, Housing Recovery, New Jersey Real Estate | 176 Comments

When does the tsunami hit?

Posted on February 16, 2012 by grim

From WSJ: RealtyTrac: Foreclosure Filings Fall 19% In January The number of U.S. properties with foreclosure filings fell 19% in January from a year earlier, though several states reported increased foreclosure activity for the first time in more than a … Continue reading →

Posted in Foreclosures, National Real Estate | 152 Comments

Making the unaffordable affordable

Posted on February 15, 2012 by grim

From the Star Ledger: N.J. Dems outline proposal allowing towns to turn foreclosed homes into affordable housing Two senior Democrats today outlined a measure to let municipalities and a state corporation buy foreclosed homes and offer them to low- and … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Politics | 125 Comments

Can’t wait to hear about how NJ spends the settlement

Posted on February 13, 2012 by grim

From Bloomberg: Foreclosure Deal May Help States Prop Up Budgets, Raze Houses Wisconsin plans to use part of its $140 million share of the national foreclosure settlement to fill a budget hole. Missouri would devote $40 million for education. Ohio … Continue reading →

Posted in Foreclosures, Housing Recovery, Risky Lending | 137 Comments

Thursday Morning Grim

Posted on February 9, 2012 by grim

From CNBC (via Business Insider): New York Housing Market Could Still Collapse: Analyst There’s been a lot of talk recently about home prices reaching a bottom. Most notably, Bill McBride at Calculated Risk — perhaps the most respected housing market … Continue reading →

Posted in Foreclosures, Housing Bubble, New Jersey Real Estate, Risky Lending | 172 Comments

One step closer to settlement, at a price

Posted on February 7, 2012 by grim

From HousingWire: More than 40 states to sign foreclosure settlement More than 40 states will sign a settlement with the top-five mortgage servicers over alleged foreclosure abuses that arose more than one year ago, Iowa Attorney General Tom Miller said … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate, North Jersey Real Estate | 122 Comments