Other Recent Articles
Veterans Day — Let’s Bring Back The Draft
It’s Veterans Day, a deserved recognition of the work done and the danger faced by those with military service. There will be parades and speeches, but few will get to the essential point: We need to bring back the draft. Today we have a nation of 312 million people. Of this number, 1.4 million are [...]
11Nov2011 | Peter G. Miller | 3 comments | Continued
October Foreclosure Activity Down 31 percent, Says RealtyTrac
Foreclosure activity remains hounded by robo-signing disputes. The result is that October foreclosure filings were down 31 percent when compared with a year ago according to RealtyTrac, the leading online marketplace for foreclosures. The company said that foreclosure filings for October — default notices, scheduled auctions and bank repossessions – were reported on 230,678 U.S. properties in October, [...]
10Nov2011 | Peter G. Miller | 0 comments | Continued
Who Pays Foreclosure Property Taxes?
When you purchase a foreclosed property, are you responsible for back taxes? The general answer largely depends on when you buy the property. “If the property was foreclosed and possessed by the bank, the bank will have to pay the back taxes to sell the property with clear title,” says RealtyTrac spokesman Daren Blomquist. “However, [...]
8Nov2011 | Peter G. Miller | 0 comments | Continued
American Chopper — Foreclosure Vs. No Foreclosure
So which is it: Was the Orange County Chopper world headquarters foreclosed or not? The answer as derived from the American Chopper TV show and public information is very simple: Both. Let’s start with foreclosure. It’s plain that a foreclosure action was initiated by the lender, the GE Commercial Finance Business Property Corp. The matter [...]
7Nov2011 | Peter G. Miller | Comments Off | Continued
Occupy Movement Eyes Foreclosures & Squat-Ins
The Oakland branch of the Occupy movement has passed a resolution favoring the seizure of foreclosed and abondoned homes. There are a lot of homes available for squatters in the state because of unpaid mortgages and loans. California has the nation’s second-highest foreclosure rate according to RealtyTrac. Nevada ranks #1. While the Occupy movement started [...]
4Nov2011 | Peter G. Miller | 2 comments | Continued
Why Bernanke Is Wrong On Mortgage-Backed Securities
Oh no, Federal Reserve Chairman Ben Bernanke wants more taxpayer dollars to bailout the upper-class. He doesn’t actually say that, of course, but what else would be the result if the government — us — starts to buy mortgage-backed securities from poor, down-trodden investors who hold billions of dollars in mortgage-backed securities? In basic terms [...]
3Nov2011 | Peter G. Miller | 0 comments | Continued
Who Will Get Help Under Fed Mortgage Review Plan?
Mortgage borrowers with claims against lenders for improper foreclosures may well get some relief under a new plan proposed by several government regulators. The catch: Most distressed borrowers won’t qualify for assistance. “Remediation will be based on documented financial harm stemming from improper foreclosure practices by the servicer,” says one regulator. If a foreclosure activity [...]
2Nov2011 | Peter G. Miller | 0 comments | Continued
Why Mortgage “Checks” Are Not In The Mail
The checks are no longer in the mail and this is one time you really can blame the government. Until recently the daily mail would often include one or more “checks” to buy or refinance real estate. Such checks looked real with lots of “official” numbers and “genuine” markings. Most importantly, they included your name [...]
27Oct2011 | Peter G. Miller | 0 comments | Continued
Has Mortgage Lending Gotten Better Since Wall Street Reform?
Has lending really gotten better for borrowers during in the past few years? Certainly mortgage rates have improved. In recent weeks they have been at or near historic lows. But no less important the lending system has improved. It’s not just that mortgage rates are better, it’s also that the probability of getting a good [...]
24Oct2011 | Peter G. Miller | 0 comments | Continued
Guess What? Social Security Has A Profit
You’ve probably heard that Social Security is going broke, not good news for most of those with hopes of a sane and fiscally-secure retirement. The reality is that for most households Social Security is a central source of retirement funding, especially as more employers have moved from defined benefit plans to defined contribution plans. But, [...]
20Oct2011 | Peter G. Miller | 0 comments | Continued
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