While the MERS debacle has many borrowers thinking that they may be getting a free house soon, the biggest threat to the banks/servicers comes from the investors who purchased the securities on Wall Street. Thanks to Kingside, here's a link to a big class-action suit...
By now we've become comfortably numb to the sensational foreclosure headlines. Yesterday, from RealtyTrac: A record total of 102,134 bank repossessions were reported in September, the first time bank repossessions have surpassed the 100,000 mark in a single month. A...
Fourth-quarter prognosis? The sellers who priced right and sold already are thanking their lucky stars, because you never know when some unforeseen event could send chills through the market. Sales are dwindling, due to the shortage of quality inventory at decent...
On August 17, 2010, attorney Susan Chana Lask filed a Federal Class Action Complaint on behalf of tens of thousands of New York State homeowners who lost their homes to an alleged foreclosure fraud orchestrated for years by a New York "foreclosure mill" attorney and...
Hat tip to JimG for sending this along, from the AP: JPMorgan Chase's CEO says the bank has stopped using the electronic mortgage tracking system used by major financial institutions. Lawyers have argued in court proceedings that the system is unable to accurately...
OC Renter is BACKKKKKK..........he contributes the follow-up story on the previous post. The folks from Simi Valley who are trespassing in their former home have an interesting hobby. Every holiday season they produce a massive light show in the front yard of the...
Hat tip to jp for sending this along, excerpts from Housingwatch’s article: The Earls, who admit to having fallen behind on their mortgage at one point due to a loss of income in Danielle’s business, say that they were working with the bank to catch up on their payments. However, she says, whenever they made […]
From the OC Register - Lansner on Real Estate: The Register asked for 10 ideas of what life would be like in 10 years. The future of housing from Marji Knitter, president of real estate planners The Moote Group in Santa Ana … 1. You’ll buy your next home at Costco,...
From Sean at www.foreclosureradar.com: Five major lenders made announcements last week that they would be suspending certain foreclosure activities in various states. These lenders included Ally (GMAC), JPMorgan Chase, Bank of America, Litton and PNC. While this...
I'm imagining that the cheapest unit will have to be an apartment-style, 2br/2ba and about 850sf in the back of the complex where you'll get trucks rumbling below, and the trains behind you? For around the mid-$300,000s? I think there will be takers at that price...
