Fannie Mae and Freddie Mac sued for fraud
Last week the SEC brought civil fraud charges against Freddie Mac and Fannie Mae executives. The SEC alleges top executives misled the public about subprime mortgages that the housing giants owned and insured. I’m not sure what to think about the lawsuit. I think it’s good that some of these executives are being pursued for […]
Federal government muddling housing recovery
Here’s a USA Today article that came out this morning. The article really illustrates several issues that we see on a consistent basis dealing with underwater properties here in Arizona. Regardless of what side of the aisle you stand on, there hasn’t been enough help to homeowners. Big banks and investment firms have received billions […]
Study: Underwater homeowners who walk are more credit savvy
“They’re getting their life in order,” says Andrew Jennings, chief analytics officer at FICO. Click to view the USA Today article. The article examines the demographics of individuals who are choosing to strategically default.
Short sales? Foreclosures? A different perspective on finding a great bargain in this market
One of the more recent trends we’ve been seeing in the current market from buyers is placing a large emphasis on finding the best possible ‘deal’ out there. I had a buyer tell me this week that while they found a home that was completely remodeled and 100% move-in ready, they were not prepared to […]
51% of homeowners in Arizona are underwater
There has been a lot of debate in recent years over how much Arizona real estate prices have fallen, the ominous shadow inventory, overbuilding, when the housing market will recover, how many years supply of inventory exists, whether or not there will be a double dip, etc, etc. While these statistics and topics provide good […]
Are we at the bottom yet?
In an interview with Fortune Magazine, Senior Vice President at Realty Trac, Rick Sharga said that the amount of foreclosures in 2011 could top the already estimated 1.2 million foreclosures the market in 2010. Mr. Sharga still sees a possible 5% or more drop in prices as well. Daryl Jones, an analyst at investment research […]
Will The Foreclosure Mess Last for Years??
An article posted today on Bloomberg Businessweek is suggesting that with all of these so called fraudulent foreclosures that banks have been accused of doing, that there may be a wave a class action lawsuits filed by a number of different parties. State attorney General’s, homeowners in foreclosure, buyers that bought foreclosed properties and title […]
Foreign Investors Are Snatching Up US Real Estate
An article released by the Associated Press has brought to light an interesting topic. There are investors from all over the world that are pouring their money and wonder there is a bit of a mad rush on homes. Don’t believe all of the bad things you hear on TV and other media sources. Make […]
BofA, GMAC, and JP Morgan Postpone Foreclosures In More Than 23 States
It is coming to the attention of many State Attorney General’s as well as the mass media that some of our nations largest lending institutions have been foreclosing on homes without even reading the paperwork that is needed to complete the process. These banks have not been verifying the information and making sure the home […]
What Do The Affluent Know That The Rest Of Us Don’t?
It is becoming more apparent that some of the largest defaulters on mortgage loans are people with loans that are more than one million dollars. According to the real estate analytics firm Core Logic, more than 1 out of 7 people with loans that are in excess of one million dollars are delinquent on their […]