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Category Archives: Mortgages

The Rule of Law in the financial system…


…I’ve said for quite awhile that the rule of law was broken in the financial system with the failure to hold the banks accountable as they were given blank checks during the bailouts. One example of this is the bias against fraudulent foreclosures. If you as a person write a check to a third party […]

Of horse shelters and property rights…


Well played, sir. On another note, do we really own our properties if the city council has veto power over what you build on your own land? Consider, too, the notion of property taxes. Failure to pay them will result in the forced sale of your property. Finally, consider the Kelo decision. The SCOTUS ruled […]

Small victory for the public in foreclosure mess?


 Maybe.  As Taibbi writes, it’ll depend on the actual wording of the settlement.  I’m less optimistic than he is about it.  I’m also curious where the money from said settlement would go? To the people who were affected by this perjury? Or to the State, for their use (ostensibly) in preventing and/or perusing offenders? Bookmark […]

Strategic defaults on the rise…


…cross posted from NegativeCreditLine. Bookmark on DeliciousDigg this postRecommend on Facebookshare via RedditShare with StumblersTweet about itSubscribe to the comments on this post

Housing Doom: Low interest rates no help to underwater homeowners


What’s surprising about this being news is that it’s news.  When we went through our personal housing crisis over two years ago, this was readily apparent.  Even when our 2nd mortgage sold it to another company at a discount, the 2nd company refused to even consider lowering our interest rate.  Their loss, in the end. […]

Short sales and credit scores


Broken Credit has a new question up about short sales and credit scores. Paul answers the question as I would. Also, from personal experience I can tell you that “my” score (actually FICO’s score on me) suffered a 100 point loss in the end. More to the point of the question, IMHO I don’t believe […]

Vegas housing market a fairy tale


The Vegas housing market is a fairy tale. The sales you see now are a matter of “belief” in spite of facts. If you buy, do so knowing you’ll see negative or no appreciation for 3 to 5 years; 2-3% appreciation at that point won’t even cover the initial closing costs. Bookmark on DeliciousDigg this […]

Fraud and other things in the mortgage industry


The fraud perpetrated on the Court, Debtors, and trustee would be shocking if this Court had less experience concerning the conduct of mortgage servicers So begins the Judge’s conclusion in one bankruptcy case concerning a clearly fraudulent mortgage servicer and owner. Well worth the read, via the NACA blog. Bookmark on DeliciousDigg this postRecommend on […]

Mortgage originator wants to destroy thousands of notes…


If these documents are destroyed, the tens – if not hundreds – of thousands of homeowners will have absolutely no recourse against foreclosure. In a just world, the court would prevent the lender from foreclosing w/out these documents, but they have shown they’re on the side of the corporation. Bookmark on DeliciousDigg this postRecommend on […]

PSA: It’s still not a good time to buy a house…


PSA: It’s still not a good time to buy a house. Fannie Mae and Freddie Mac are holding 242,000 properties off of the national market to prevent further deflation. That’s just these two entities folks; how many do the other banks combined hold? Bookmark on DeliciousDigg this postRecommend on Facebookshare via RedditShare with StumblersTweet about […]