Job Growth affects Housing Market 26

If your fundamentals are in order you stand a good chance of being successful. That’s a truism that has been proved many times over, especially in the real estate market. But when there are conflicting messages it’s not always so easy to know if you’re standing on solid ground or […]


Foreclosure Injunctions Rising

Here’s a surprising stat that I was (half) shocked to see. According to a recent study by the Warren Group, the number of foreclosure petitions is on the rise. This is when a borrower requests an injunction to stop the foreclosure process. Now obviously it makes sense that people would […]


Top 5 Foreclosure States

I just read a funny statistic that’s really not all that surprising. But the way it was presented made me chuckle a bit. Here’s what I’m talking about. In October there were 553,000 foreclosures completed. Ok, so far so good. 44% of those came from just 5 states. The big […]


$100 million Settlement for Late Notices 26

Sometimes unscrupulous business get what’s coming to them. The people whom they hurt – sometimes also get what they deserve. The latest story is a good example of this. Ocwen Financial, the largest non-bank mortgage servicer has been hit with a $100 million charge. Their crime – sending back-dated foreclosure […]


BofA Settlement Held Up 25

As usual, once there’s money on the table everything that was once clear suddenly becomes a little confusing. It’s typical of people’s dealings with each other and especially true of Uncle Sam. The latest power struggle comes from the Bank of America settlement with the government over sales of bad […]


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Ghost Town for Sale

A ghost town is up for auction! I don’t know how much the ghosts are expected to go for but the starting bid for the Connecticut town is $800,000. That’s quiet a hefty price but here’s what you get: – 8 buildings including a general store, stable, and mill, among […]


$3m in Foreclosures Bought 24

Someone is putting his money where his mouth is in Detroit. That’s an unlikely place for a $3.1 million bid for 6,000 foreclosed homes. But it happened and investors are shocked. An anonymous investor paid the minimum $500 per property and snatched up a nice selection of homes. Is this […]


Refinances Up with Low Interest Rates 26

Lower interest rates are causing a sharp increase in the number of refinances. Many distressed homeowners are starting to take advantage of the current situation to improve their terms. August showed more than 131,000 refis, up 11,000 from July. This is because average interest rates are around 4.12%. What this […]


FDIC Rule to Prevent Crisis 23

The FDIC believes they’ve solved the financial troubles that caused the economic crisis of the last few years. Their latest guidelines are designed to limit risk and increase responsible lending practices. Let’s discuss what they’ve decided and see if it will really do the job. The main culprit of the […]


Zombie Foreclosure are Expensive 26

We’re all familiar with the haunting specter of zombie foreclosures. Those blights on the landscapes of otherwise decent communities. They lower property values, bring in crime, become a den for homeless people. And you know who the biggest loser of this whole situation is? Uncle Sam! Um, what? Aren’t the […]