Category Archives: Foreclosures

How do we sleep when our beds are sinking?

Posted on August 21, 2010 by grim

From Reuters: Dropout Rate for Mortgage Aid Program Nearly 50%: Treasury The percentage of homeowners dropping out of the Obama administration’s premier housing rescue program rose in July to nearly half of participants, as owners receiving aid continued to struggle … Continue reading →

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

6.67% of mortgage holders late in Q2

Posted on August 17, 2010 by grim

From Forbes: Late mortgage payments spike in 2Q vs year ago The rate at which U.S. homeowners fell behind on their mortgage payments remained stubbornly elevated in the second quarter. In the three months ended June 30, the number of … Continue reading →

Posted in Economics, Foreclosures, National Real Estate, New Jersey Real Estate, Risky Lending | 96 Comments

600,000 REO homes and rising

Posted on August 12, 2010 by grim

From CNBC: Foreclosure Math: Shadow Inventory Adds Up It’s the real key to the housing recovery. If we know exactly how much shadow inventory of foreclosed properties will come to market, and we know the general demand, then we can … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 161 Comments

…and cue bailout # 67 – The “Hardest Hit Fund”

Posted on August 12, 2010 by grim

And again our leaders confuse liquidity and solvency. You can’t fix a solvency problem with a liquidity solution. A poorly run company has a cash flow problem, and can’t meet their debts. Their business model is busted, and they barely … Continue reading →

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

Foreclosure prevention garage sale

Posted on August 9, 2010 by grim

From the Record: Yard sale’s urgent purpose for Teaneck single mom A single mom is trying to keep her Tilden Avenue home by selling some of the things in it. Karen Simmons-Braswell, who bought the white colonial-style home in December … Continue reading →

Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 80 Comments

Double dip predictions going mainstream

Posted on July 21, 2010 by grim

From the WSJ: Housing Market Stumbles The housing market, whose collapse pulled the economy into recession in late 2007, is stalling again. In major markets across the country, home sales are deteriorating, inventories of unsold homes are piling up and … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 108 Comments

NJ tops in foreclosures

Posted on July 15, 2010 by grim

From RealtyTrac: 1.65 Million U.S. Properties Receive Foreclosure Filings in First Half of 2010 According to RealtyTrac 1st Half YOY Change in Foreclosure Notices New Jersey – Up 52.97% 2nd Quarter YOY Change in Foreclosure Notices New Jersey – Up … Continue reading →

Posted in Foreclosures, National Real Estate, New Jersey Real Estate | 153 Comments

10.7% of NJ loans delinquent or in foreclosure

Posted on June 3, 2010 by grim

From the WSJ: New Jersey Leads Tri-State in ‘Seriously Delinquent’ Mortgages New Jersey’s mortgage loans that were “seriously delinquent,” meaning they are 90 days or more delinquent or in the foreclosure process, stood at 10.73% during the first quarter, leading … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 242 Comments

Frat House Bordello

Posted on April 8, 2010 by grim

From the LA Times: Foreclosure auction of Nicolas Cage’s mansion is a flop Nicolas Cage is leaving Bel-Air. And not by choice. The fate of the sprawling Tudor mansion owned by the actor, who won an Oscar for his role … Continue reading →

Posted in Foreclosures, Humor | 891 Comments

REO the problem? Or the solution?

Posted on March 16, 2010 by grim

From HousingWire: Housing Recovery is Spelled R-E-O Short sales are a hot topic right now—especially with a much-ballyhooed government program focused on short sales, the Home Affordable Foreclosure Alternatives program, about to come online. But in the end, the real … Continue reading →

Posted in Economics, Foreclosures, National Real Estate | 798 Comments

NJ foreclosures slow, but still hit a painful 14% YOY increase

Posted on March 12, 2010 by grim

From the Star Ledger: N.J. foreclosure rate drops for second month in a row The number of New Jersey homeowners in various stages of the foreclosure process dropped for the second consecutive month in February, displaying a housing picture that … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 522 Comments

Making sense of the foreclosure numbers

Posted on March 2, 2010 by grim

From the NY Times: In New Jersey, No Consensus on Foreclosure Problem IN gauging the severity of the foreclosure problem in New Jersey, the experts could hardly be farther apart. Some see the state as relatively unscathed at this point, … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 485 Comments

A closer look inside short sales

Posted on February 17, 2010 by grim

From the Star Ledger: The long and short of short-selling homes But Goldie Sommer, a real estate attorney and agent, said there is no reason why anyone can’t navigate a short sale. Sommer, a principal at Fairfield-based Sommer and Engelhart, … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 453 Comments

Foreclosure Filings Jump in Jersey

Posted on January 21, 2010 by grim

From the Star Ledger: N.J. sees 29 percent, year-end jump in residential foreclosure filings As the real estate market struggles to gain its footing back, the state’s number of residential foreclosure fillings jumped 29 percent at year’s end from 2008, … Continue reading →

Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 313 Comments

NJ Foreclosures: Stabilization at multi-year highs isn’t improvement

Posted on January 14, 2010 by grim

Don’t get me wrong, stabilization is good news, but realize that stabilization at these levels is nothing to cheer about. The rate of foreclosures in NJ did not decline in NJ in 2008, they increased by 1%. The best we … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 379 Comments