Housing Market
« Previous EntriesA Trip to Magic Fairy Land for Some Homeowners
Tuesday, May 8th, 2012This makes me ill: Bank of America Offers Principal Reductions to 200,000 Homeowners A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction. …eligible borrowers could get [...]
More on the Housing Settlement
Friday, February 10th, 2012According to this morning’s WSJ, banks have reached an agreement over alleged foreclosure abuses (the WSJ’s wording). The settlement is for $25 billion. Details aren’t hammered out but in general, it will… • Provide $17 billion to borrowers at risk of foreclosure. • Offer reductions in loan principal and other assistance to qualifying homeowners. • [...]
Haven’t We Been Down This Road Before?
Monday, January 30th, 2012I read this last Friday in the WSJ: The Loan Quota Rule For the latest example of regulatory overreach, look no further than the Department of Housing and Urban Development, which is pushing through a rule to support racial loan quotas a few months before the Supreme Court will rule on whether that’s legal. The [...]
This Stuff STILL Angers Me…
Tuesday, January 24th, 2012Begin rant. Just saw this on MSN: Deal could cut principal on 1 million loans Apparantly, there’s ANOTHER deal being hammered out to help homeowers (misspelled on purpose). Here’s how this deal might work out: • $17 billion would go toward principal reductions. If 1 million homeowners were to be helped, that would equal an [...]
AMEN!
Wednesday, December 28th, 2011One thing I have learned over the years is that every decision has consequences. If I choose to spend my entire savings on a new car and then the air conditioner breaks, I have to live with the consequence of spending all my savings on the new car and will have to figure out a [...]
Realtors Have Been Overcounting Home Sales Over the Last Five Years
Wednesday, December 14th, 2011So home sales were worse than we thought. Sales figures over the last five years will be adjusted downward next week. It will be interesting to see how much.
The Average Foreclosure Length: 631 Days!
Friday, December 2nd, 2011Saw this on CNBC.com this morning: Foreclosures are setting new records again, this time not in their overall numbers, but in the time it is taking for all of these properties to be processed through the legal system. The average loan in foreclosure has now been delinquent a record 631 days, according to a new [...]
« Previous Entries