ata released by Lender Processing Services LPS Tuesday puts the number of home mortgages that are delinquent or in foreclosure at 6,350,000.
via DS News
Jun 21
An article at the New York Times, “Backlog of Cases Gives a Reprieve on Foreclosures,” is more than a little frustrating in that it takes some high level factoids about the mortgage mess and fails to draw the right inferences from them.
via « naked capitalism.
Jun 21
In a housing market that’s as lousy as this one, it makes sense that prospective buyers are becoming increasingly interested in foreclosures. After all, some of these properties – which accounted for 24 percent of home sales in May, by the way – are selling at up to 50 percent less than comparable homes. Interested in rummaging through the bargain bin? Here’s a primer:
via Zillow News.
Jun 20
Millions of homeowners in distress are getting some unexpected breathing room — lots of it in some places.
via NYTimes.com.
Jun 19
To put things a bit more precisely, the mortgage securitization trust is the party that needs to be able to foreclose, but if the notes weren’t conveyed properly to it in the stipulated time frame, it does not have the legal standing to do so (presumably, a party earlier in the securitization chain can, but no one wants them to foreclose, since it would confirm that the MBS is in part if not in whole, not mortgage backed).
vianaked capitalism.
Jun 19
Bank of America completed more short sales than it unloaded previously foreclosed homes every month for the last year and a half
via bubbleinfo.com.
Jun 04
Collier County, Florida — Have you heard the one about a homeowner foreclosing on a bank?
Well, it has happened in Florida and involves a North Carolina based bank.
via digtriad.com.
Jun 04
Banks trying to foreclose on homeowners are hitting another roadblock, as some delinquent borrowers are successfully arguing that their mortgage companies can’t prove they own the loans. Nick Timiraos joins the Markets Hub to discuss.
via marketwatch .
