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
October 2nd, 2010 | Posted in Housing Prices/Foreclosures,Real Estate | Read More »
The housing crash is still in process and here are 10 reasons why it is still a terrible time to buy. Words: 1670
September 26th, 2010 | Posted in Housing Prices/Foreclosures,Real Estate | Read More »
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
September 17th, 2010 | Posted in Housing Prices/Foreclosures | Read More »
Just as 2007 and 2008 were the years of subprime woes, 2010 will go down as the year of Option Adjustable rate Mortgage (ARM) resets. This crisis is about to unleash a fury no one’s prepared for. It won’t be as bad as subprime, of course — it’ll be worse. Words: 557
June 4th, 2010 | Posted in Gold/Silver,Housing Prices/Foreclosures,Investing,Real Estate | Read More »
If you think home prices have hit bottom and are now headed back up for good, think again! Round two is about to begin. Words: 552
May 15th, 2010 | Posted in Housing Prices/Foreclosures,Real Estate | Read More »
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
April 20th, 2010 | Posted in Housing Prices/Foreclosures,Real Estate | Read More »
The next phase of the real estate disaster is upon us. It’s just shifted from subprime to Option ARM and with many economists predicting unemployment will stay in the double digits, foreclosures will only accelerate, which will add to bank losses, which will add pressure to the financial system and broader economy. Words: 547
January 19th, 2010 | Posted in Housing Prices/Foreclosures,Real Estate | Read More »