Oct - 14th
Where did the Billions in Bank Bailouts Go? - Sand, Dirt, Fines & Ghostowns
Posted at 8:11 am | Filed Under Politics, California Housing Crash, The Economy, Real Estate
Oct - 12th
Massive Defaults Coming in Real Estate - 30% - 50% Reductions
Posted at 10:09 am | Filed Under Credit Crunch, Politics, California Housing Crash, The Economy, Real Estate
Aug - 26th
The next “leg down” for the housing market
Posted at 4:59 pm | Filed Under Credit Crunch, California Housing Crash, Florida Housing Crash, Real Estate
If you think the housing market is recovering, you are probably wrong. According to the NY Times:
First American CoreLogic anticipates 600,000 option ARMS to reset within four years.
Option ARMs, which lenders stopped offering last year, gave borrowers four payment options: less than the interest, which increases the balance every month; just the interest; the equivalent […]
Aug - 25th
California delinquencies continue to rise
Posted at 11:04 am | Filed Under California Housing Crash, The Economy, Real Estate
More bad news for the Golden State. According to the LA Times:
TransUnion expects the percentage of California home loans that are at least 60 days late or are in foreclosure to skyrocket to more than 14% by year-end.
Mortgage delinquencies will continue to rise and set records the rest of this year in California, according to […]
Aug - 13th
RealtyTrac: Initial defaults (NOD) in California spiked 15 percent from the previous month
Posted at 5:51 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The foreclosure mess continues….
Here is the RealtyTrac news release
IRVINE, Calif. — August 13, 2009 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its July 2009 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 360,149 U.S. properties during the month, […]
Aug - 13th
More houses going into foreclosure in California
Posted at 11:25 am | Filed Under California Housing Crash, Real Estate
According to the LA Times:
July stats from ForeclosureRadar show that the backlog of California homes in default, but not yet repossessed, keeps growing.
At some point, many of these properties will be repossessed and put back on the market. Some may be kept by the current owners through loan modifications, but that hasn’t happened much so […]
Aug - 11th
Home prices have not bottomed yet
Posted at 3:45 pm | Filed Under California Housing Crash, Florida Housing Crash, Real Estate
Aug - 11th
The U.S. might have 30% of mortgages “underwater”
Posted at 2:47 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
We found this on Bloomberg:
Aug. 11 (Bloomberg) — Almost one-quarter of U.S. mortgage holders owed more than their homes were worth in the second quarter and that figure may rise to as much as 30 percent by mid-2010 as job losses and foreclosures climb, Zillow.com said.
Homeowners are being hurt by price declines. The estimated […]
Aug - 1st
More bank failures ahead
Posted at 2:18 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Embedded video from CNNMoney.com Video
Jul - 30th
The next wave of foreclosures
Posted at 3:32 pm | Filed Under Politics, Credit Crunch, Bailout News, California Housing Crash, The Economy, Florida Housing Crash, Real Estate
Excellent report on CNNMoney:
Cities in just four states — California, Florida, Arizona and Nevada — captured 29 of the top 30 places with the highest foreclosure rates, according to a report issued by RealtyTrac on Thursday. Greeley, Colo., was the only outsider, coming in at 29th.
Many cities with populations larger than one million experienced rapid […]
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