From MND: A Georgetown law professor is proposing that a Resolution Trust Corporation (RTC) like entity might be the key to getting the housing market back on track. In Clearing the Mortgage Market through Principal Reduction: A Bad Bank for Housing (RTC 2.0) Adam J....
From sddt.com: In San Diego-Carlsbad-San Marcos, 28.2 percent, or 165,582 properties, of all residential properties with a mortgage were in negative equity for first quarter of 2012, according to CoreLogic. This is down slightly from the fourth quarter of 2011 when...
From sddt.com: Trustee deeds in San Diego County are down almost 60 percent from June 2011, and one local expert said that’s “really pretty amazing.” Trustee deeds — the final step in the foreclosure process, transferring ownership from the delinquent borrower back to...
From HW: The negative equity problem for U.S. homeowners might be worse than previously thought, at least according to a new measure from Zillow. The online real estate data provider, in its first negative equity report, said 15.7 million, or 31.4% of homeowners were...
From the nytimes.com: VALLEJO, Calif. — On a suburban block with six family homes, palm trees and views of the surrounding green hills, nothing at 110 Windsor Court stood out. Its occupants, who had moved into the foreclosed house a few years earlier, were quiet...
From dsnews.com: An alarming number of homeowners see strategic default as a viable option should their home continue to depreciate. Almost half of the homeowners participating in an online poll from Housing Predictor say they will walk away from their mortgage...
Hat tip to Kingside for sending this in - he noted, "It will be interesting to see if these go anywhere": The exemption of debt-relief taxation is due to expire this year. Bills have been introduced to extend the deadline to January 1, 2015. The House version,...
From CoreLogic: Completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. In December 2011 there was a month-over-month decrease in completed foreclosures to 55,000 from 57,000 in November 2011. The December 2011 completed foreclosures...
How are short sales affecting the market? This chart divides Actives by Pendings (A/P, our gauge of the relative 'health' of each market). We've seen in the past that a 2.00 reading seemed healthy, and 3.00 was tolerable. I included contingents in the Pending counts...
From cnnmoney.com (seen at CR): NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Among the tactics: Challenging the bank's actions, waiting to file...
