All Posts Tagged With: "Foreclosures"
Why Obama Should Favor Mortgage Appraisals
President Obama inherited the worst financial crisis since Hoover and the Great Depression. It follows that getting the country back on track is no easy task and while his new housing plan includes much to support it also includes a provision to dump appraisals when they are most needed. Dump is really the right word. Fannie [...]
6Feb2012 | Peter G. Miller | 2 comments | 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
9/11 — How We’ve Changed In A Decade
Has it been ten years already? Much has changed since the terrorist destruction of the Twin Towers, an awful event which has produced awful consequences. If the attack was designed to reduce the US presence in Muslim states it surely back-fired. A decade later the US continues to have massive military forces in Iraq and [...]
11Sep2011 | Peter G. Miller | 1 comment | Continued
Foreclosures: No Mortgage Payments For Years
We keep hearing reports that mortgage foreclosures and delinquencies are down and here’s why: Lenders are plainly not foreclosing once a borrower has missed three monthly payments. So why have foreclosures stalled? The answer is that the process of recording mortgage notes is so screwed up that it’s stopped foreclosure activity worth hundreds of billions [...]
31Aug2011 | Peter G. Miller | 0 comments | Continued
Distressed Homes Selling at 32% Discount
If you want to pay less for a home then look for distressed property, the homes which are facing foreclosure or will be foreclosed. Why? They’re selling nationwide with a 32-percent mark-down. Such properties can be found. If you’re buying a home in the U.S. the odds are 3 in 1 that the property you [...]
25Aug2011 | Peter G. Miller | 0 comments | Continued
Is Negative Interest Coming To America?
“You’re money is no good here” used to mean someone was picking up your tab at a restaurant or country club. It was a gracious gesture, a courtesy and a compliment. Today the term means the world is awash in so much cash that really — we don’t want your money — especially if your [...]
22Aug2011 | Peter G. Miller | 0 comments | Continued
Vets Get $22 Million to Settle Mortgage Foreclosure Claims
Two national mortgage lenders will pay more than $22 million to settle claims under the Servicemembers Civil Relief Act (SCRA) that they allegedly violated a law meant to insulate military members from illegal foreclosure, according to the Department of Justice. A Bank of America subsidiary improperly foreclosed on about 160 service members from January 2006 [...]
15Jun2011 | Chris Birk | 0 comments | Continued
Are ARM mortgage interest rates about to rise?
The Consumer Finance Protection Bureau has come out with a new approach to mortgage financing, good faith estimate forms (GFEs) that are supposed to be better than the form introduced by HUD in 2010. This is important stuff for three reasons: First, HUD estimates that the 2010 GFE saves borrowers $700 per loan. Second, when [...]
31May2011 | Peter G. Miller | 0 comments | Continued
Robo-signing scandal leads to 27% foreclosure drop in 1st quarter
Foreclosure activity continued to fall, with filings dropping 27 percent in the first quarter when compared with a year earlier according to RealtyTrac. RealtyTrac said that first quarter foreclosure filings — default notices, scheduled auctions and bank repossessions — impacted 681,153 U.S. properties. The report also shows one in every 191 U.S. housing units nationwide [...]
14Apr2011 | Peter G. Miller | 0 comments | Continued
4 States Consider Use Of Faked Appraisals
It’s amazing. If you don’t like appraisal results, if you want home prices to be higher, then just change appraisal rules. That’s the theory behind a new legislative drive now taking place in several states. The Appraisal Institute reports that “four states — Illinois, Maryland, Missouri and Nevada — are considering legislation that would prohibit [...]
31Mar2011 | Peter G. Miller | 13 comments | Continued
© Copyright 