Housing

In Foreclosure? Don't Worry! Your Bank Probably Can't Prove They Own Your Mortgage!

When a home owner is forced into foreclosure, the case is presented to a judge for approval. Historically, if uncontested, a foreclosure has quickly led to a judgment in favor of the bank - to evict the owner and confiscate the property. However, in the last few years a growing number of homeowners have been contesting the foreclosures and demanding proof of the note - or ownership of the mortgage - and, in many cases, the note can't be located by the bank. [As such,] the foreclosures are not being approved due to lack of documentation. Words: 719

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U.S. Mortgage Crisis to get MUCH Worse in 2011

The so-called U.S. news outlets are again talking about a “bottom” in the U.S. housing market – and trying to entice more victims to jump in. However, the reality is that mortgage statistics show that the collapse in the U.S. real estate market will continue to get worse until at least 2011. Words: 492

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Ever Increasing Foreclosures Mean Low House Prices for Many More Years

Anyone who sees a rising pool of millions of delinquent mortgages as the foundation of a recovery in housing valuations isn't considering the feedback loop which is now firmly in place. The foreclosure pipeline will be full for years to come precluding any "recovery" in housing valuations as supply will swamp demand. Words: 385

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Major Commercial Real Estate Losses to Rekindle Financial Crisis

Over the next few years, a wave of commercial real estate loan failures could threaten America’s already-weakened financial system. Commercial loan losses could jeopardize the stability of many banks, particularly the nation’s 2,988 mid-sized banks that have these dangerous concentrations in commercial real estate lending and, as such, as the damage spreads beyond individual banks, contribute to prolonged weakness throughout the economy. In fact, between 2010 and 2014, about $1.4 trillion in commercial real estate loans will reach the end of their terms - and nearly half are “underwater” already. Words: 987

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U.S. Real Estate? Fuhgeddaboudit for Another 5 Years!

Real estate has definitely not bottomed in the U.S., and probably not anywhere else either. You have to take a long-term view of this. At this point in time I am completely uninterested in speculating in U.S. real estate – and I don’t foresee being interested for at least five years. I reserve the right to change my mind, but I think it’ll be at least five years. Words: 1340

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