Posts Tagged ‘foreclosure’

Revisiting Ibanez

Last week I suggested that the Ibanez case of faulty mortgage documentation in Massachusetts was something of a tempest in a teapot. I wasn’t alone in downplaying the effects but a couple of pretty smart people have put forth some arguments that make me, at least, a bit less sanguine. John Carney argues that while [...]

Share

Less Than Meets The Eye In Ibanez Foreclosure Case

Lots of doomsday scenarios floating about concerning the Massachusetts Supreme Judicial Court’s decision in US Bank vs Ibanez. Is it all warranted? First the bare bones. The Court’s decision upheld lower court’s finding that two foreclosures were improper as the banks involved had not proven that they owned the mortgages on the properties. To make [...]

Share

Housing And Deja Vu All Over Again

A couple of days ago I put up a post that reviewed returns on homes for the past decade. Here’s a bit more recent history via a great graph from CalculatedRisk.com. (click for a larger image) Pretty awful isn’t it? Basically, we’re going nowhere which shouldn’t be at all surprising. The similarity to the S&L [...]

Share

Foreclosures Forever?

John Carney has an interesting take on some likely repercussions from the foreclosure mess. Basically, he thinks that it’s going to be a lot harder for banks to work through the foreclosure process from this point on. Carney points out that the courts and judges are going to be a lot more skeptical as they [...]

Share

BofA Says Foreclosure Issues Resolved

I was going to write a post about a little bit of sanity seemingly returning to the blogosphere with regard to foreclosuregate when Bank of America made this announcement. Via the WSJ: Bank of America Corp. on Monday began preparing new affidavits for 102,000 pending foreclosure actions where court approval is required, applying new signatures [...]

Share

More On Own-To-Rent

Felix Salmon takes issue with one of my criticisms of the Obama Own-To-Rent program. In my post I suggested that investors might just want to foreclose and sell the property to salvage whatever they could from a bad deal. Felix retorts: Let’s nip this one in the bud: there is nothing in this proposal which says [...]

Share

Foreclosures Spiraling Out Of Control

There has been enough talk about an impending next wave of foreclosures to suggest that indeed it’s going to happen. An article in the LA Times throws a little more information into the mix. Just as the nation’s housing market has begun showing signs of stabilizing, another wave of foreclosures is poised to strike, possibly [...]

Share