Category Archives: Foreclosures

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

Posted on October 3, 2011 by grim

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 →

Posted in Employment, Foreclosures, Housing Recovery | 94 Comments

Obsessed with fixing the unfixable

Posted on September 14, 2011 by grim

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 →

Posted in Employment, Foreclosures, National Real Estate | 152 Comments

Screwed over a second time

Posted on September 12, 2011 by grim

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 →

Posted in Foreclosures, Housing Bubble, Risky Lending | 62 Comments

Cue bailout attempt #74

Posted on September 7, 2011 by grim

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 →

Posted in Economics, Foreclosures, Mortgages, National Real Estate | 109 Comments

And they’re off! (again)

Posted on August 16, 2011 by grim

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 →

Posted in Economics, Foreclosures, New Jersey Real Estate | 80 Comments

And they’re off!

Posted on July 18, 2011 by grim

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 →

Posted in Foreclosures, New Jersey Real Estate | 156 Comments

Wrist slapping delayed a few weeks

Posted on July 18, 2011 by grim

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 →

Posted in Foreclosures, Housing Bubble | 126 Comments

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

Posted on July 14, 2011 by grim

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 →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 190 Comments

NJ takes aim at foreclosure rescue scams

Posted on July 5, 2011 by grim

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 →

Posted in Economics, Foreclosures, New Jersey Real Estate | 163 Comments

Incoming!

Posted on June 27, 2011 by grim

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 →

Posted in Foreclosures, Housing Bubble, Mortgages | 171 Comments

The Next Big Issue ™

Posted on June 27, 2011 by grim

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 →

Posted in Foreclosures, National Real Estate, Property Taxes | 159 Comments

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

Posted on June 19, 2011 by grim

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 →

Posted in Foreclosures, National Real Estate | 40 Comments

Foreclosures at 42 month low – Good or Bad?

Posted on June 16, 2011 by grim

From CNBC: Foreclosure Activity Falls, But the Worst Isn’t Over Yet Delays in foreclosure proceedings and a new push by big banks and servicers to find foreclosure alternatives is drawing a new, albeit still troubling picture of the nation’s real … Continue reading →

Posted in Foreclosures, National Real Estate | 149 Comments

Sharga/RealtyTrac: No recovery before 2015

Posted on June 15, 2011 by grim

From HousingWire: RealtyTrac’s Sharga sees no housing recovery before 2015 It will take at least another year to work through the glut of REO inventory in the market and yet to come to market, according to Rick Sharga, senior vice … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 172 Comments

Zillow: Foreclosures 25% of the Market (and rising!)

Posted on June 7, 2011 by grim

From HousingWire: Foreclosures approach 25% of the housing market: Zillow ales of homes foreclosed on in the previous 12 months made up 24% of the market in April, up from 16% one year ago, according to data compiled by Zillow. … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 199 Comments