For homebuyers and investors alike, there's concern about a double dip. Nevertheless, in some markets around America, prices have been stable over the past year.
If you’re looking to renovate and flip, forget it. But if you’re in a position to buy and hold, with the intent of either renting your property or sitting on it until the real estate recession subsides, the market is ripe for the picking.
The builders say they are starting to see some "flickers of interest among potential buyers." They also note that most builders have no access to capital for building homes, and therefore won't be able to meet the pent-up demand.
Big lenders are trying to move past the foreclosure-document mess, saying they're now confident their paperwork is accurate. Yet they face so much organized resistance that they can't just snap up their briefcases, declare the crisis over and move on.
As I suspected would happen, the Obama administration is changing the foreclosure conversation.
Fraudclosure...Mortgage Mayhem in the Good Old USA...a Saga of Greed, Destruction and Redemption (?)…and the curtain opens...
So out of the blue this morning I get a bill for anywhere from $221 billion to $363 billion; it wasn't addressed to me alone, but as a taxpayer I tend to take these things very personally.
When Bank of America resumes its foreclosures next week, it is going to find that the process is a lot tougher than it was just a few weeks ago.
The foreclosure process in the US is slowing, enabling delinquent borrowers to stay in their homes for months after they stop making mortgage payments, according to one of the largest lenders. The FT reports.
Bank of America and GMAC are firing up their formidable foreclosure machines again, after a brief pause, but homeowners are asking why lenders often balk at short sales. The New York Times reports.
The mortgage mess that lead to foreclosure freezes by several large banks across much of the country may slow down the ability of banks to issue new mortgages, which could push the housing market into a sharp downward spiral.
Noise. There's an awful lot of it in today's report on September existing home sales from the National Association of Realtors. Even the markets could hear the noise, as they didn't react all that much to the 10 percent jump in sales that completely beat expectations.
One study says 36 percent of Americans believe walking away from their mortgage and their home is OK. What do you say?
Foreclosure "actions" in Q3, which include anything from default notices to bank repossessions, rose in 65 percent of the nation's top 200 housing markets.
Over at Barry Ritholtz’s “The Big Picture,” Bill Black has been publishing a series of posts on how mortgage lending should be regulated. Black, who is the author of “The Best Way To Rob A Bank Is To Own One,” does an admirable job at pointing out how pervasive fraud arises and undermines market discipline.
Peter Wallison more or less demolishes the conventional wisdom—and now the official Federal Crisis Inquiry Commission view—when it comes to the collapse of Fannie Mae and Freddie Mac.
What leaked last week was the idea of reducing Fannie, Freddie and FHA loan limits, currently at $729,750 for high-priced markets to $625,000.
Anyone who expected to see a big jump in foreclosure numbers, now that banks/servicers are supposedly ramping up the post-robo process again, got a big surprise today.
The Obama administration finally released it's "white paper" on how to eventually wind down Fannie Mae and Freddie Mac. Really no surprises. They offer three scenarios and don't throw their weight behind any one in particular.