mortgage.freedomblogging.com - 6/10/2009
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Should tax dollars be spent helping people avoid losing their home to a bank?
A study I blogged on last week found borrowers who lost their home to foreclosure in November 2006, 2007 and 2008 often had cashed-out all their equity. The data for the study wasn’t perfect — public ...
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Reservoir of Value? Bayberry Way, University Park, Irvine
Irvine Housing Blog —
... Can houses become a reservoir of value? Will houses be passed on from generation to generation with each one assuming a massive debt and a mountain of equity? That seems pretty unlikely, particularly given the spendthrift ways of our HELOC abusing populace. As a reservoir of value, houses have proven to be quite leaky. ...
Wednesday morning links
The Mess That Greenspan Made —
... & Mail • Russia May Swap Some U.S. Treasuries for IMF Debt - Bloomberg • Sweden forced to take emergency loan amid Latvia crisis - Guardian • Iceland's Banking Crisis: The Meltdown of an Interventionist System - Mises • Latvia May Get IMF Tranche This Month, President Says - Bloomberg • U.K. interest rates to stay low despite signs of recovery - Guardian • A British bounce? - Krugman, NY Times HOUSING • Foreclosure is the ‘cure’ - O.C. Register • Median prices drop below 1989 levels in parts ...
Flip This House
Irvine Housing Blog —
... Isn't there a certain inevitability to the disintegration of the market? Isn't foreclosure really the cure? The previous owners that had this house overborrowed and overpaid. The property is being recycled, and the new owners will borrow much less and will borrow with much more stable terms. It isn't that the process is painless; it is the ending we know is coming, and it must simply be endured. ...
Related Content
How To Avoid Foreclosure
livingoffdividends.com 5/31/2009 — You must have read the recent post about the New York Times economics reporter who is facing foreclosure himself. Edmund Andrews covered the US economy and Alan Greenspan for over six years, but despite his financial accumen still got suckered into a ...
Intelligent Foreclosure Abatement
ritholtz.com 2/18/2009 — Today at 12:15 am, we shall learn of the Obama administration’s new housing plan. I suspect it will have many of the same doomed features as all the other misguided housing plans floating around.
Before getting to those specifics, let’s ...
More Evidence of the "Foreclosure Backlog"
calculatedriskblog.com 7/8/2009 — From Peter Hong at the LA Times: L.A. County's May default rate double last year May's 9.5% [seriously] delinquency rate [more than 90 days] for L.A. County was up from 5% of mortgages ... in May 2008 [First American CoreLogic reported today]. ... ...
U.S. Foreclosure Filings Hit Record for Second Straight Month
bloomberg.com 5/13/2009 — May 13 (Bloomberg) -- Foreclosure filings in the U.S. rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers. A total of 342,038 properties received a default or auction notice ...
Get your foreclosure now - Aug. 5, 2009
money.cnn.com 8/6/2009 — NEW YORK (CNNMoney.com) -- You've heard of speed dating? It's got nothin' on foreclosure buying these days. In many places, anyone who wants to buy a foreclosure better act fast, or they're going to come away with bupkus. REOs, the industry term for ...
How To Avoid Foreclosure: Keep Your House In Troubled Times
thedigeratilife.com 6/1/2009 — Weigh your options and don’t ignore the problem. Some owners believe that abandoning the house is the best solution because they have no equity. Depending on your situation, “walking away” may or may not be the way to go. If you bought a $300,000 ...
12 pct. are behind on mortgage or in foreclosure
(AP)
news.yahoo.com 5/28/2009 — AP - A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the ...
Foreclosure Truth
foreclosuretruth.com 23 days ago — I’ve talked in the past about some of the approaches to rescuing the housing market and providing economic stimulus, such as the Treasury Department lowering mortgage interest rates , the California Foreclosure Prevention Act , the Countrywide ...
RealtyTrac: Record Foreclosure Activity in April
calculatedriskblog.com 5/13/2009 — From RealtyTrac: Foreclosure Activity Remains at Record Levels in April RealtyTrac ... today released its April 2009 U.S. Foreclosure Market Report(TM), which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 342,038 U.S. properties ...
12% in Foreclosure or Delinquent
ritholtz.com 3/6/2009 — Wow, how is that for a data point?
About 5.4 million American homeowners with a mortgage (~12%) were either behind in their payments or already in foreclosure at the end of 2008, according to the Mortgage Bankers Association.
That’s about ...
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