According to this article in the New York Times, the new rules for short sales are going to help the homeowners - or at least that is the plan according to government officials…
But the underlying facts of how the new rules will play present a very different picture; and also an interesting dilemna for the [...]
Continue reading about How Bizarre How Bizzare - Another Twist in the Housing Crisis Play Book
This video crossed my radar today and left me at least feeling vindicated that what I am seeing in the world of the ongoing ‘mortgage crisis’ and foreclosure melt down is really what is happening, not just to the families and people I know and work with but across the board…
And it’s good to know [...]
This latest article from CNN Money makes it very clear that the lenders are not letting people off the hook when the house goes to foreclosure OR short sales. Homeowners who have lost their homes since the current mortgage crisis began are now finding themselves the target of collections companies and lenders pursuing deficiencies [...]
Continue reading about Lenders Pursuing Deficiencies Against Homeowners Even Well After Foreclosure
15 January 2010
This piece showed up on Jesse’s Cafe’ as well as Mish Shedlock’s blog Friday the 15th of January - and frankly we are thrilled to see that this practice, which we have encountered ourselves MANY times in the process of completing a successful short sale is finally getting some attention. Kudos to [...]
Today the Huffington Post came out with a great article to encourage Americans to take action - non partisan, populist action - and put their money into small community banks and get it out of the Too Big To Fail Bailed Out Bully Banks -
Read the article here: Move Your Money - A New Years [...]
Are you a strugggling homeowner getting no assistance from yoru lender as you try to modify your loan, sell short or find a way to resolve your mortgage issue? Are you out of work and being told you need to make a “seller contribution” to a short sale on your home? Are you a [...]
Continue reading about Homeowners, Agents, Buyers -Tell Your Story To COP Today
When does pretend and extend come to an end?
When we say the reason banks and servicing companies are not processing short sales, loan modifications or trustee sales on foreclosure properties is because they cannot do so without exposing their mark to fantasy numbers, we are not alone. We observe the collapse of these transactions, including [...]
In his Market Ticker blog of August 13, Karl Denninger points to another of the underlying indicators of the incredible slow down of short sale acceptances by lenders of the last 6 months when he writes:
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Heh Lookie Over Here: Bloomberg
from The Market Ticker by Karl Denninger
Gee, you think someone’s been paying attention to The Ticker?
[...]
Continue reading about Six Months of Sluggish Short Sales Nearing an End?
In this newest Market Ticker post, Denninger touches on precisely the thing we’ve been suspicious of - that the delays and stalling in foreclosures, short sales and loan mods may have more to do with the paper lenders are “pretending” is still sound and not writing down on their books.
It may also account for the [...]
