The housing documents mess – Why banks are carelessly rushing foreclosures in Florida and not in California. Mortgage foreclosure deficiency judgments.
In the last few weeks the issue has come to the table that in some states, in particular Florida, banks are rushing through the foreclosure process so quickly that they have mismanaged the paperwork process. Apparently the same forged paperwork that got people with very little income into highly leveraged properties is now working in […]
California MLS inventory up 25 percent since April. MLS public data at 144,000 but 742,000 mortgages in California are in foreclosure or one payment behind.
MLS inventory for California has increased by 25 percent since April of this year. Part of this has to do with more foreclosures and short sales trickling their way onto the market. It also has to do with sales declining because of tax credit expiration fatigue. But what is the real inventory if banks were […]
Real Estate Still Overpriced in California in many Markets and Paying your Mortgage with Unemployment Benefits – Examining Housing Values through Employment and Local Market Trends. Los Angeles has a 4.4 Income to Home Price Ratio even after a 42 Percent Price Decline.
As housing prices have collapsed from their halcyon bubble peak, many are peering out into the foreclosure landscape that is the current U.S. real estate market and are wondering if prices now fall in line with economic fundamentals. The problem in many areas across the U.S. isn’t so much with housing prices but actual employment […]
$100,000 a Year Will Make you Go Broke with the California Tax System: Why California is a Fiscal Disaster. Broken Tax Structure built on Bubbles.
It is amazing how little attention on a national scale the California debacle is getting. California alone is the 8th largest economy in the world and contributes $1.8 trillion a year to the national GDP. In the mainstream press, all you hear is sound bites of “there goes California” yet the state is teetering on […]
California Loan Modification Scams: Kicking the Financial Can Down the Road. SB 1137 and SBX2 7. Mortgage Cram-Downs Stripped from Rescue Bill. Loan Mods that make your Payment go up.
In another chess move to reward banks and fleece the American public, cram-down legislation was stripped out of the new rescue bill. This is significant since this was one of the keystones in the new housing agenda. Yet the banking oligarchy wasn’t pleased with this legislation and applied pressure via lobbying to get this piece […]