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Amid all the doom and gloom, it is hard for many think of real estate as anything other than a money pit; for some, however, it is an opportunity, and, hopefully, a well of profit to be tapped. It's the optimistic, even opportunistic, side we're focusing on in our annual special report, "Investor Guide to Spring Real Estate".
Robert Shiller, Yale University professor of economics and co-creator of S&P Case/Shiller Home Price Index, discusses the outlook for U.S. real estate and describes how, despite pessimism in the marketplace, now could be the time to invest in the bubble markets.
Six months after the Federal Housing Administration announced an $11 billion refinancing initiative for these “underwater” borrowers, nearly two dozen lenders have agreed to take part in a new loan modification program,the New York Times reports.
Investors bidding up bank stocks and protestors reaming state attorneys general over a proposed foreclosure settlement seem to agree on one thing: his would be a big win for banks.
The Obama Administration’s $20 billion proposal to try to force banks to modify mortgages looks an awful lot like an attempt to revive the $20 billion bank tax that was rejected during the negotiations over Dodd-Frank.
There is no multi-billion dollar fund or penalty and there is no word from Federal Regulators as to how the banks will ultimately "fix" the foreclosure paperwork issues...But a meeting here in DC of the fifty state attorneys general was too good to pass up for a couple of hundred protesters demanding action.
The second leg of the US housing downturn will continue throughout the year and could be nasty if a vicious circle of falling prices and rising foreclosures continues, according to Capital Economics.
Wells Fargo is finally returning phone calls to the Philadelphia homeowner who began foreclosure proceeding against one of its branch offices—and the homeowner, Patrick Rodgers, feels very strongly that yesterday's article on NetNet precipitated their telephone call.
You read the headline correctly: A homeowner has begun foreclosure proceedings on a local Wells Fargo Office in Pennsylvania.
New York court officials outlined procedures Tuesday aimed at assuring that all homeowners facing foreclosure were represented by a lawyer, a shift that could give tens of thousands of families a better chance at saving their homes. The New York Times reports.
JPMorgan Chase on Tuesday announced new programs geared toward military customers and veterans, and apologized for overcharging thousands of active-duty service members on mortgages and improperly foreclosing on more than a dozen.
The Obama administration and House Republicans are settling into a game of chicken over Fannie Mae and Freddie Mac, with each side daring the other to advance a plan. The NYT reports.
Despite signs of a stabilizing housing market housing, the foreclosure problem is still huge.
In recent years, numerous private equity firms have taken large stakes in the back-office operations of law firms specializing in foreclosure, often called foreclosure mills. The private equity firms then make money by providing those services back to the law firm for a fee. The NYT reports.
It's the next big shoe to drop in the robo-signing foreclosure scandal. Call it part two.
Two failed subprime mortgage lenders are trying to convince federal bankruptcy judges in Delaware today that they should be able to destroy thousands of boxes of original loan documents.
The economy has improved in the last six months, signaled by greater consumer spending, durables purchases and some signs of increased investment, Daniel K. Tarullo, Federal Reserve governor, told CNBC Friday, echoing what his boss, Chairman Ben Bernanke said on Thursday.
More than 10 percent of loans made possible through A federal program might have been to borrowers who were not eligible because they did not meet the minimum financial requirements and might not have had the means to pay them back, reports The New York Times.
Today's report from RealtyTrac serves as a warning to big banks, Fannie, Freddie and local communities; The foreclosure glut is coming, and they'd better be ready to get rid of that glut in a big way.
Mortgage, housing and banking analysts took the weekend to pontificate on the ramifications of last Friday's decision by Massachusetts' highest court to void two foreclosures due to improper paperwork. A coalition of state pension funds took a different tack: They fired a shot across the bow of the big banks.