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Browsing Tag
foreclosure
What are the legal rights of lenders and homeowners in foreclosure?
After I published the recent story on the case against servicing agent MERS in the Kansas Supreme court, I noticed a lot of chatter about some mortgage servicing line items in Wells Fargo’s earnings report. So I wanted to quote a few blurbs…
Why mortgages aren’t modified and what a ruling stopping foreclosures means
In August, the Kansas Supreme Court issued a ruling against a mortgage tracking service which may prove very costly to banks in foreclosure, leading to massive writedowns. It could be a life saver for many trapped in the foreclosure…
Short Sales in North County: “Feeding Frenzy” as banks pretend and extend
Jim the Realtor is back with a bunch of foreclosures, REOs and short sales on the market in North County San Diego. Some of these places look pretty nice. In this particular video, the property is in Carmel Valley and on the…
American Casino: How foreclosures breed mosquitoes
A number of new films have been produced chronicling the misadventures in America’s residential property markets and financial system. One such story is American Casino. I have yet to see the film. However, below is a…
Spain: savings banks suffer while BBVA and Santander expand
Spain has been a laggard in the search for improving economic fundamentals. The news coming out of Spain has been dreadful from employment to house prices to mortgages and banking. But the first ray of hope appeared yesterday when it…
Cruising foreclosures, REO and short sales with Jim the Realtor
If you haven’t seen any of Jim the Realtor’s videos over at Calculated Risk, you are not getting a feel for what’s happening in residential real estate in America. The guy really gives the whole housing problem in California a look…
Jon Stewart on Lenny Dykstra
Here is a clip from the Daily Show with Jon Stewart that highlights Lenny Dykstra, the former baseball player turned financial guru. To my mind, it really puts the bubble years into perspective.
By the way, I am a Boston Red Sox…
Consumer credit down a massive 33% in Spain
Credit in Spain is contracting at an unprecedented rate, down 33% in the first quarter as Spain faces a housing bust and near 20% unemployment. Below is my translation of part of a Spanish-language article explaining the situation.…
Why not protect the homeowner?
This morning I was reading Simon Johnson’s excellent post “President Obama’s Regulatory Reforms Announcement: A Viewer’s Guide” about what Barack Obama should say when he makes his regulatory reform pitch today at 12:30 PM. I agree…