Category Archives: Foreclosures

“Why are people surprised that they don’t know what they are doing here either?”

Posted on October 21, 2010 by grim

From the NY Times: Battle Lines Forming in Clash Over Foreclosures That clash — expected to be played out in courtrooms across the country and scrutinized by law enforcement officials investigating possible wrongdoing by big lenders — leaped to the … Continue reading →

Posted in Foreclosures, National Real Estate | 199 Comments

Taking it back

Posted on October 20, 2010 by grim

From CNBC: Foreclosed Homeowners Break Into Former Home There’s been a lot of funny business in the mortgage industry. It’s getting less funny by the minute. Danielle and Jim Earl admit they skipped mortgage payments, filed for bankruptcy, and lost … Continue reading →

Posted in Foreclosures, National Real Estate, Risky Lending | 168 Comments

JPM: Delinquent borrowers are just trying to stall foreclosures

Posted on October 16, 2010 by grim

From HousingWire: JPM: Robo-signing now borrower strategy to avoid foreclosure One of the largest investment banks at the center of the robo-signing scandal is claiming that distressed borrowers are using the allegations as a stall tactic to prevent losing their … Continue reading →

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

Rotten in Denmark (Maine)

Posted on October 15, 2010 by grim

From the NY Times: From a Maine House, a National Foreclosure Freeze The house that set off the national furor over faulty foreclosures is blue-gray and weathered. The porch is piled with furniture and knickknacks awaiting the next yard sale. … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 111 Comments

So who owns the house?

Posted on October 11, 2010 by grim

From Bloomberg: Foreclosure Freeze May Sideline U.S. Homebuyers as Legal Worry Cuts Sales A halt in home foreclosures at the largest U.S. mortgage firms may sideline buyers worried about legal issues, further depressing sales at a time when distressed properties … Continue reading →

Posted in Foreclosures, National Real Estate, Risky Lending | 119 Comments

“it is time that banks are held accountable for their practices.” (But what about borrowers?)

Posted on October 6, 2010 by grim

The fact of the matter is that the borrower is in default, and should be foreclosed on. Where did anyone get the idea that the pre-MERS world of robosigners was without error or fraud? These exact same types of issues … Continue reading →

Posted in Foreclosures, National Real Estate | 118 Comments

Fixing debt with more debt

Posted on September 24, 2010 by grim

From the Courier Post: State to get $112M to halt foreclosures Program that will help unemployed and underemployed homeowners make their monthly mortgage payments for up to 24 months, state officials said Thursday. Since 2006, foreclosures have jumped nearly 200 … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 233 Comments

MERS problems behind GMAC halt?

Posted on September 21, 2010 by grim

From the NY Times: GMAC Halts Foreclosures in 23 States for Review GMAC Mortgage, one of the country’s largest and most troubled home lenders, said on Monday that it was imposing a moratorium on many of its foreclosures as it … Continue reading →

Posted in Foreclosures, National Real Estate | 153 Comments

Moodys: Housing prices to fall until Q3 of 2011

Posted on September 20, 2010 by grim

From HousingWire: Moody’s downgrades billions in RMBS, more to come Moody’s Investors Service issued another slew of ratings changes yesterday afternoon and earlier today, downgrading tens of billions of dollars of Alt-A and subprime residential-mortgage backed securities. The lower ratings … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 189 Comments

Welcome to Fall

Posted on September 18, 2010 by grim

From the NYT: A Cool Summer for Housing THE fall real estate season is under way, and the school of hard realities is in session. “The sales data is telling us nothing good,” said the market analyst Jeffrey G. Otteau. … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, New Jersey Real Estate | 146 Comments

“That’s so done.”

Posted on September 17, 2010 by grim

From the WSJ: Reluctant Realtors: Fannie, Freddie Two years after they were taken over by the federal government, Fannie Mae and Freddie Mac face a new challenge: The mortgage-finance giants are becoming two of the nation’s largest home sellers at … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 159 Comments

“We are managing to a view that home prices are more likely to be headed down rather than up”

Posted on September 14, 2010 by grim

From the Huffington Post: Home Prices Set To Fall Further: Richard Fairbank, Capital One CEO Speaking at the Barclays Capital 2010 Global Financial Services Conference, Capital One CEO Richard Fairbank was pessimistic about the housing market and about consumer demand … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 152 Comments

We just got lucky

Posted on September 10, 2010 by grim

From Bloomberg: Greenspan Should Have Seen Housing Crisis, Burry Says Former Federal Reserve Chairman Alan Greenspan should have foreseen the collapse of the U.S. housing market and warned the public, one of the most prominent bettors against the subprime market … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 100 Comments

Are we looking at the wrong set of borrowers to save?

Posted on September 8, 2010 by grim

From HousingWire: 40% of subprime mortgages stand delinquent, can prime be next? Mortgage analytics firm CoreLogic is reporting, in data provided to HousingWire, subprime delinquencies are steadily trending downward; though the firm’s main economist warns the performance of prime mortgages … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 73 Comments

Fannie Mae: Get going and foreclose

Posted on September 3, 2010 by grim

From HousingWire: Excessively delaying Fannie Mae foreclosures will now cost servicers Fannie Mae will now review the compensatory fees due to servicers in cases where the government sponsored entity feel servicers are unnecessarily delaying foreclosure. In a letter sent to … Continue reading →

Posted in Foreclosures, National Real Estate | 179 Comments