American Banker.com posed the question today that many observers have been asking for awhile now: where the heck are all of the foreclosures?
“Ever since the housing collapse began, market seers have warned of a coming wave of foreclosures that would make the already heightened activity look like a trickle.
The [...]
The Daily Times had an article today highlighting some of the features of Maryland’s new foreclosure law revision:
“Several amendments to Maryland’s foreclosure law became effective July 1. Among many changes, a homeowner can now request mediation.
A mediation is basically a meeting to discuss and explore options. A foreclosure mediation [...]
Mike Whitney has penned another excellent article this week about the next leg down in the national housing market we are about to face very shortly:
“Did the Federal Reserve collude with the big banks to hold millions of houses off the market until the Fed finished adding $1.25 trillion to the banks reserves? [...]
The Daily Times had an article today about the our local Worcester County, Ocean City Maryland area real estate market:
“The Lower Shore real estate market, plagued by an oversupply of homes and condos for sale, is recovering slower than other markets nationwide.
“I want to be able to say something good about [...]
Another article found today about how clever it is not to pay your mortgage, and how we may be in for a VERY, VERY LONG ride to home price and mortgage stabilization in America:
“For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but [...]
If you have never attended a bank foreclosure public sale on the Courthouse steps, the folks at ForeclosureRadar.com have put together a Guide video that is worth a quick watch. A big caveat though: This is a California guide. Things are a bit different in Maryland.
Either way, it will become clear to the viewer how [...]
DSNews.com is reporting that the foreclosure tide is still rising:
“During the first three months of this year, RealtyTrac’s data shows there were 257,944 properties repossessed by the lender – an increase of 9 percent from the previous quarter and an increase of 35 percent compared to the first quarter of 2009.
All [...]
The Maryland Coast Dispatch had an interesting article this Friday about the impact of, what might be, a potential tsunami of Ocean City Maryland resort condominium and home foreclosures and REOs in the future:
“Locally however, Worcester County is below both the state and national average for foreclosure properties, but, according to Robert Smith, [...]
HousingWire.com is reporting that more borrowers are increasingly planning “strategic defaults” with their housing debt:
“A contagion effect within communities is leading borrowers to consider default as an acceptable option in the face of financial hardship, Fannie found. Both delinquent and current mortgage borrowers are more than twice as likely to have seriously considered [...]
CNNMoney had a very thought provoking article today that should be a must read for any home owner, particularly those pursuing a short-sale or deed-in-lieu end to their troubles:
“Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell [...]
