From the FT.com: Bank of America plans to shrink its $850bn portfolio of troubled home loans by about half over the next three years as it seeks to quicken the pace with which it resolves problems related to the housing crisis and its disastrous purchase of...
It's all over the news - the housing double dip is here. They say that the DD is caused by an overload of foreclosures dragging down prices - but they are talking about the overall national market. Are the recent trustee sales building a backlog of REOs around San...
From Diana Olick at cnbc.com: Home prices fell 6.7 percent in February year over year, according to a new report from CoreLogic. That numbers includes distressed sales, that is, sales of foreclosed properties or short sales, where the bank agrees to let the homeowner...
It happens about once a week that we see an out-of-town realtor input a new listing in their hometown MLS, thinking that it somehow magically transports in our San Diego MLS here. But it is probably due to their assumption that just because the rest of SoCal is on...
From the REChannel: It didn't make the headlines when it was first announced in November 2010 and it didn't make the headlines this week. But if President Barack Obama's proposed 2012 Federal budget cuts involving the sale or disposition of 69,000 government-owned...
From cnbc.com: http://www.cnbc.com/id/39873678/ A new survey by Pew Research says 36 percent of Americans believe walking away from their mortgage is perfectly acceptable. We want to know if you would ever simply leave your mortgage and your home behind. Tell us what...
From Diana at cnbc.com: (S)everal speakers at the forum said several scary things about housing and foreclosures. Mark Zandi of Moody's Economy.com is looking for a hybrid version of Fannie and Freddie, or a mortgage market more privatized but with government backing....
From HW: Whether they like it or not, the nation's banks control most of the country's shadow inventory, according to a report Friday from Morgan Stanley. Even more, properties in imminent default are typically cheaper homes with prime mortgages. The analyst adds that...
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...
From Diana Olick at cnbc.com: I have argued many times that just because a loan is underwater (value of loan is higher than value of home) it doesn't necessarily mean that the borrower will stop making timely payments. Yes, the incentive to abandon the home is there,...
