Tag Archives: foreclosure market

After The Bank Foreclosure Deal, Now What?

The foreclosure market has been semi-frozen for the past year as banks negotiated with state and federal government to reach a deal over improper foreclosure paperwork processing. Now the banks have coughed up $26 billion to partially settle the claims … Continue reading

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Is A Slowdown In Mortgage Foreclosures A Good Sign For The Housing Economy?

No, this slowdown is not good news. It just signals that the foreclosure market remains gummed up and inefficient. Banks are reluctant to process mortgage foreclosures for many reasons including bad public relations and their tremendous load of foreclosed properties … Continue reading

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Politicians Lick Their Chops At Opportunity To Plunder Banks

Banks are overwhelmed by foreclosures. Banks lose on average $40,000 per foreclosure wrote Dr. Thomas Sowell in his recent book on The Housing Boom and Bust. Banks don’t want to be in the real estate business. They want to be … Continue reading

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Home Price Rebound In 2011

Not likely. Not when so many people are out of work. So when might unemployment drop? There’s no sign of that. Not for at least a couple of years. Whither interest rates? Heading up. Here’s a report from New Jersey: … Continue reading

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Economists call for national standards for U.S. residential mortgages

Capitalism is chaotic and so is America’s mortgage market. Some prominent economists are calling for order. The foreclosure market has been thrown into confusion over the past three months with judges invalidating various foreclosures amid evidence that many banks have … Continue reading

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Settlement Urged For Foreclosure Probe

The 50 states are investigating foreclosure paperwork and procedures at America’s biggest banks. This investigation has slowed down the foreclosure market and threatened bank stocks and stability. I’m surprised we have not seen a quick settlement to this mess. The … Continue reading

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Foreclosures Fall For Second Straight Month

Many experts expect the number of foreclosures to rise this year and the next two years as a large number of ARMs turn over into higher payments and rates. Foreclosures are still near record highs, despite the modest dips recently. … Continue reading

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