Home Prices Plummet to 2003 Levels
Thursday, June 30
Using data that tracks home prices through April of 2011, Case-Shiller, reported a slight bump in home values. However, hold off on popping the cork on the champagne. It’s far too early to tell if this reflects a sea change in the housing market or is simply a reflection of the spring/summer bu...
Short Sale – An Investment Perspective
Tuesday, May 03
Investors often tell me that they own a home, tenants left or are not paying their rent, and the property is not cash flowing (mortgage is more than the rental income). What is an investor to do? Most tell me that they have put in too much money to let the house go via short sale or foreclosure. ...
Banks Quaking at U.S. Treasury Department Oversight
Monday, May 02
Finally, distressed homeowners and those looking to modify their loans are getting a chance to shake up the banks thanks to the US Treasury. Shock waves are rolling though the banking community as the Treasury Department causes fissures in the banks cavalier handling of underwater homeowners. Com...
Foreclosure Forum in D.C. Today With Big 5 Mortgage Companies
Wednesday, March 30
Today, the Big 5 in mortgage servicing are meeting in Washington to discuss alternatives to foreclosure. One of the controversial options under consideration is requiring banks to facilitate the short sale process.Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial will ge...
HR 861- House Acts to Cut Wasteful Spending
Tuesday, March 29
The House of Representatives has approved legislation to axe a bailout program for lenders and real estate speculators. The legislation, HR 861, the NSP Termination Act ends the so-called Neighborhood Stabilization Program (NSP). “Today the House acted yet again to end wasteful spending on a gove...
Personal Loss Mitigation-Think Like a Banker
Friday, February 18
We know what you are going though. It’s a kick in the teeth to be faced with foreclosure. You’ve done everything you can to forestall the inevitable. Okay, maybe you shouldn’t have done that last refinance. Maybe you didn’t need the new car. Maybe it was beyond your control, for example due to jo...