From Lily at the U-T: Foreclosures are inching up again, while closely watched defaults shot up 34 percent in March -- the largest monthly increase for San Diego County in more than two years. Analysts at DataQuick Information Systems on Tuesday reported there were...
From HW: A bill introduced in the U.S. House of Representatives would waive early distribution penalties on certain qualified retirement plans if the funds are used to buy a house that has been in foreclosure for a year or more. Bill Posey (R-Fla.) introduced H.R....
From NMN: The only bank that has been penalized for mortgage servicing lapses got slapped for doing the opposite of what state attorneys general have been demanding. Bank of America Corp. was penalized in the fourth quarter for delaying foreclosures — not for moving...
From Diana at cnbc.com Fewer Americans are falling behind on their mortgage payments; in fact, the fewest in two years. Mortgages just one payment past due (30 days) fell to their lowest level since just before the recession began. Is it delays in paperwork from the...
There have been several attempts here to bust up the media's insistence that foreclosures cause prices to plunge. The servicers get appraisals and BPOs completed on every asset, and price them accordingly to achieve top dollar - they aren't giving anything away. The...
An excerpt from nytimes.com: Saving your home from foreclosure is increasingly a do-it-yourself project. Lawyers are scarce and free legal assistance is overwhelmed in New Mexico, so a community center here is offering an hourlong class in how to download the correct...
I made a brief comment towards the end of this video about strategic defaults. I don't know how many people are strategic-defaulting. But when the servicers insist that you start missing payments to get their attention, then work you over during the...
From HW: Notices of default, the first step in the California foreclosure process, dropped 17.5% in the fourth from the year before, but the decline may not have come from borrowers improving their financial situation, real estate data provider DataQuick said. Lenders...
Sean, our Los Angeles correspondent, files this report: Jim, Up here in LA it looks like BofA/Countrywide just threw the foreclosure machine switch back to the “on” position. The number of Recontrust properties with opening bids set for tomorrow’s trustee sale...
Notice how people think that foreclosures automatically mean lower prices? The pundits and mainstream media talk about a surge of foreclosures plunging us into the abyss; that prices would plummet. Why? I don't see any REO listings being given away around here, if...
