foreclosure: Robo-Signing and the Foreclosure Moratorium
- 11/15/10 04:08 AM
Robo-Signing and the Foreclosure Moratorium It sounds like good news that foreclosure filings for October were way down. Unfortunately, you cannot take that statement at face value. The only reason for the lower numbers was because of the foreclosure moratorium due to the robo-signing scandal. In case you don’t understand what robo-signing is, it means signing documents without verifying the accuracy of its content. The truth be told, very few of the homeowners will get their houses back if they haven’t paid or if they can’t catch up on their mortgage. But, what if there truly was a mistake and … (3 comments)
foreclosure: IS THE WHOLE WORLD FORECLOSING?
- 10/14/10 08:13 AM
IS THE WHOLE WORLD FORECLOSING? You heard that we are out of a recession from the newspapers. Can that really be possible? If housing prices increased slightly it has been because there are fewer homes on the market that are realistically priced for today’s economy. My opinion is that another double dip recession is on the way. Researchers have increased the odds of this happening. If this plays out, the housing market will drop another 20 percent before any recovery takes place. I know you are hearing the recovery will be in the year 2012. I really don’t see that occurring. … (2 comments)
foreclosure: People Walk, Allowing Their Homes to Foreclose Instead of Choosing a Short Sale
- 05/24/10 11:15 AM
People Walk, Allowing Their Homes to Foreclose Instead ofChoosing a Short Sale More than 11 million people owed more on their mortgage than their home was worth, causing the spread of strategic default. Many professors at some of the major universities are studying the walk-away movement and it causes. Thus, strategic defaults are growing at an alarming rate. Professor White, from Arizona, wrote a paper on these strategic defaults and ended the paper urging borrowers “to stick it to their lenders” and default. He stated that severe negative equity is the reason people walk even though they feel that it … (0 comments)
foreclosure: Foreclosures and Short Sales
- 05/17/10 09:39 AM
Stop Foreclosures - Los Angeles. This weekend I went to a second auction of homes and personal property. The homeowners thought that an auction would be a better way to sell their home. They thought that the auction fever would allow them to net enough money to settle the mortgage payment. Unfortunately, that did not happen. Their attitude, though, about the sale of their home was impressive. These homeowners felt that as long as they had their health anything else was secondary. It made me pause and think about what was really important in life, and truly this is our health. … (0 comments)
foreclosure: Stop Foreclosures - Los Angeles
- 05/10/10 04:46 AM
If you've been looking all over the Internet today, you'll see that housing sales are going up. Of course, they are. It is the investors that are buying in areas where the banks are releasing all the foreclosures. This is not what is happening in my area, Los Angeles. At this time, there are very few bank owned properties that are being released for sale. The banks are just letting them trickle out. These foreclosures are going mainly to investors who are purchasing the properties for cash. Some are flipping the foreclosures and using hard money. A hard money loan is … (1 comments)
foreclosure: Stop Foreclosures - Los Angeles
- 05/04/10 06:47 AM
Stop Foreclosures - Los Angeles. Homeowners need to address their problems post haste!!! I agree that the banks put us into this mess, but the lack of people addressing their problems is resulting in more and more properties being foreclosed on. Property auctions and foreclosures are ruining the market, lowering property values, and hurting neighborhoods across the nation. Short sale is the only answer but only if we can get the bank to agree on handling the second loan. Money should have been spent on second loans instead of throwing money off the train by giving it to the banks for nothing. … (1 comments)
foreclosure: The Forensic Audit Scam; Don't Be a Victim
- 04/28/10 06:23 AM
The Forensic Audit scam; don't be a victim. Scams just don't seem to end. Now we have another scam, called the Forensic Audit, that milks money out of those in the process of foreclosure. It makes homeowners believe that they can sue the lender, so that they will be able to save a fortune on principal reduction. I listened to a webinar about this, and they said that, of course, the homeowner has money, because they haven't been paying their mortgage. So, they will be able to pay this company thousands of dollars for their case to be handled. Therefore, I … (0 comments)
foreclosure: This Time Around the Tax Credit Didn't Make Much Difference in Home Buying
- 04/21/10 12:37 PM
This time around the tax credit didn't make much difference in home buying. During the last few months the purchase of homes has been very slow. Sales of homes only improved slightly from January. We may see improvement if the banks release the foreclosures and accept realistic prices for short sales. The government is no longer buying back mortgages from GSE's (Government Sponsored Enterprises). GSE's are a group of financial service corporations created by the government. Examples of three GSE's are Fannie Mae, Ginnie Mae, and Freddie Mac. Since they were considered too large to fail they were bailed out by … (0 comments)
foreclosure: More Foreclosures, Short Sales, and Economic Woes to Come
- 04/19/10 05:03 AM
More foreclosures, short sales, and economic woes to come. Yet people like the CEO of Goldman Sachs, Lloyd Blanfein, were able to procure bonuses of 9 million dollars. They are now under investigation for investor fraud. The company's goals, which they always stated, were to protect their investor's money. Unfortunately, this was not the case. Knowingly, they managed to broker a deal to investors that would lead to them losing billions of dollars of their money, but Goldman Sachs made enormous financial gains from the transaction and kept quiet about the financial loses to come. As an investment pool, Goldman Sachs recommended that their … (0 comments)
foreclosure: The Economy Is Improving, or so We Are Being Told
- 04/11/10 11:28 AM
The economy is improving, or so we are being told. Is there such a thing as mind control? Obviously, that's what some believe with all the articles on how the economy is improving. I read about how great things are in the newspaper; everything is wonderful; the recession is over.
Is the recession over; is our economy improving? My best friend is a teacher in the Los Angeles Unified School District and they just voted in a pay cut. I'll bet it's not going to be the last one. The stock market has been going up. However, I went to … (4 comments)
Robo-Signing and the Foreclosure Moratorium
;)
;)
