Category Archives: Foreclosure

When You Fall Behind On Your Mortgage Payments

If you fall behind on your mortgage payments and can`t get caught up, you could be on the road to foreclosure. However, there may be options before you get that far, including selling your home in a short sale. Foreclosure … Continue reading

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Think The Housing Market Is Getting Stronger?

Most evidence says yes, the housing market is getting better, but many signals are still negative. Mortgage delinquencies are up. From the LAT: The nation’s slowly improving housing market hit another bump last quarter, with more borrowers missing payments amid … Continue reading

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CA Passes Foreclosure Protection Legislation

California will now have the toughest regulations in the country against foreclosing on homeowners who are in the midst of renegotiating their mortgage. All this legislation makes the mortgage business less profitable for lenders so that they will have less … Continue reading

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PBS Frontline Tackles Money, Power And Wall Street

Watch the three hours and 47 minutes of four total shows here. I love PBS Frontline. I think it tends to be fair and to be journalistically solid. The show does have a definite pro-regulation bias. Whether it is tackling … Continue reading

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BofA Reduces Mortgage Loan Principal For 200,000

As a result of a settlement with state and federal government, Bank of America is writing down mortgage loan principal for about 200,000 Americans, sometimes as much as $100,000 per mortgage. Banking is far more regulated than ordinary business. Bankers … Continue reading

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Freddie Mac Asks For More Government Help

So far taxpayers have paid out about $170 billion to subsidize Fannie Mae and Freddie Mac. That works out to about $1300 per American. Taxpayers are on the hook for at least another $100 billion in aid over the next … Continue reading

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Obama’s Foreclosure Legacy

The Obama administration keeps doing things about the housing crisis but none of them seem to work. The Obama approach is to selectively intervene in the housing market and channel subsidies to politically protected groups. Some homeowners who are underwater … Continue reading

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Processing Foreclosures Is Rapid In California, Slow In Florida

The slower the market is to work, the less efficient it is. Capital gets tied up and can’t be allocated most efficiently. Processing a foreclosure typically takes two years in Florida’s clogged court system. Now Florida lawmakers are looking at … Continue reading

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Lenders Change Strategies For Dealing With Foreclosures

Lenders have been flooded by foreclosures over the past five years. Foreclosure is usually the worst result for everybody concerned — the homeowner, the lender, the community. So lenders are trying to achieve short sales and auction sales of distressed … Continue reading

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What Is REO?

I keep seeing that term used in real estate news. Here’s a news report noting that high foreclosure rates have not driven down home prices as much as would normally be expected: Three out of four regions saw increasing levels … Continue reading

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