market conditions: My World: What the robosigning settlement might mean to the market. - 02/09/12 10:26 PM
The recent settlement of the robosigning case brought against a number of major U.S. banks by attorneys general of the states will most likely result in increased levels of foreclosure seizures. The involved banks have greatly slowed their foreclosure process during the negotiations, allowing some homeowners in default to remain in their properties without paying for months or even years. Now that the case has been settled with what amounts to a slap on the wrist for the banks for engaging in practices which resulted in allegations of fraudulent paperwork, the banks are likely to move quickly to help their bottom … (4 comments)
market conditions: Joke of the day - #66: Housing Market Down -A message is waiting for you... - 01/12/11 10:02 AM
Here's a funny story which is perfectly in tune with the current economy. A real estate broker was in a great deal of trouble. His business was failing, he had put everything he had into the business, he owed everybody-- it was so bad he was even contemplating suicide. One day he had the opportunity to talk to the pastor of a local church, so he poured out his tale of woe. When he had finished, the pastor directed him to take a beach chair and his Bible to the beach. He was to take the beach chair and the Bible … (3 comments)
market conditions: Joke of the day - #64: That's not a sheep... - 01/10/11 10:41 AM
Here's another joke about government efficiency. (Can anyone say, "Oxymoron"?) A long-term government manager was driving a pickup truck along a road in the country when he was blocked by a large flock of sheep. He motioned the shepherd over and offered to bet him one hundred dollars against a sheep that he can tell the shepherd the exact number of sheep in the flock. The shepherd, not adverse to winning a hundred dollars, took the bet. The government man paused and then dramatically said, "Nine hundred and eighty seven sheep!" The shepherd gasped in surprise and said, "I can't believe … (0 comments)
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The recent settlement of the robosigning case brought against a number of major U.S. banks by attorneys general of the states will most likely result in increased levels of foreclosure seizures. The involved banks have greatly slowed their foreclosure process during the negotiations, allowing some homeowners in default to remain in their properties without paying for months or even years. Now that the case has been settled with what amounts to a slap on the wrist for the banks for engaging in practices which resulted in allegations of fraudulent paperwork, the banks are likely to move quickly to help their bottom … (4 comments)
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