Will short-sellers and strategic defaulters race to the exits before the debt-relief tax exclusion expires on 1/1/13? They would be crazy to assume that the benefit will extend, though it may. Here is the last third of this article from the New Yorker comparing AA's...
From foxbusiness.com: Gene Kessler, 67, may be the new face of mortgage default. The tech industry retiree is in the process of walking away from the home he purchased for $166,000 in 2004 in a small town 75 miles southwest of Minneapolis. Its value has plummeted to...
How many people try to short-sell their house, before getting foreclosed? Those on the default list get bombarded with save-your-credit and extend-your-free-rent offers from realtors - plus kickbacks too. To resist, a defaulter must be really committed to NOT...
From HW: The trend of borrowers choosing to default on their mortgage when they otherwise might have been able to afford payments is on the decline, JPMorgan Chase analysts said Monday. Definitions for what qualifies as a strategic default varies. But analysts took a...
It's all over the news - the housing double dip is here. They say that the DD is caused by an overload of foreclosures dragging down prices - but they are talking about the overall national market. Are the recent trustee sales building a backlog of REOs around San...
We just saw the FICO study a few days ago, here are excerpts from a report by the Federal Reserve Board, in an article written by Keith Jurow at the Business Insider: Last May, a very significant analysis of strategic defaults was published by the Federal Reserve...
From the WaPo: Some borrowers can’t keep up with their mortgage payments because they’re struggling to make ends meet. Others choose not to keep up even though they can afford their monthly payments, and a new picture is emerging about who these borrowers are and why...
From Lily at the U-T: Foreclosures are inching up again, while closely watched defaults shot up 34 percent in March -- the largest monthly increase for San Diego County in more than two years. Analysts at DataQuick Information Systems on Tuesday reported there were...
From Diana Olick at cnbc.com: Home prices fell 6.7 percent in February year over year, according to a new report from CoreLogic. That numbers includes distressed sales, that is, sales of foreclosed properties or short sales, where the bank agrees to let the homeowner...
From HW: The California Housing Finance Agency said Wednesday it has expanded the eligibility requirements for several Keep Your Home California programs, allowing more distressed homeowners access to $2 billion in funds allotted for foreclosure prevention...
