Monthly Archives: February 2010

Bank of America Gives a Full Release For a Las Vegas Short Sale

BANK OF AMERICA JUST KEEPS ON GIVING As previously reported in this blog, Bank of America (BAC) will sometimes completely release homeowners from all potential deficiency judgments and all claims resulting from a short sale, but usually only after extensive … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | 6 Comments

Nevada Housing Prices Are Still Unpredictable

THE EXPERTS ARE FORECASTING LAS VEGAS REAL ESTATE PRICES AGAIN An outstanding piece regarding the Las Vegas housing market was reported in the Las Vegas Sun here. The Las Vegas Sun article reports that housing prices have stopped their decline. … Continue reading

Posted in Off Topic, Uncategorized | 1 Comment

Vegas House Bargains Dry Up

SHORT SALES ARE HEATING UP THE VEGAS MARKET Las Vegas is one of the foreclosure capitals of the U.S., with about one in four households behind on house payments or in mortgage foreclosure. Yet all three of these shoppers—a professional … Continue reading

Posted in Real Estate Trends, Uncategorized | 1 Comment

Las Vegas Short Sales Are On Fire

Selling or Buying a Home With a Loan Under Water Don’t wait until a foreclosure is imminent to consider a short sale. Many studies show a large number of consumers don’t talk to their lenders because they are embarrassed and … Continue reading

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Short Sales Outnumber REO in January Purchases

IT REALLY IS THE YEAR OF THE SHORT SALE Short sales accounted for 15.9% of home purchases in January, surpassing the share of other distressed property activity, when real estate owned (REO) properties are measured separately, according to a monthly … Continue reading

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Obama Tells Vegas’ Homeowners to “Lay Off the Banks”

President Barack Obama will announce today during his visit to Las Vegas a new foreclosure rescue program, pumping $1.5 billion into Nevada and other hard-hit states to help large banks remain solvent reports the Las Vegas Sun in an article … Continue reading

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Nevada Has Highest Mortgage Delinquency Rate In Country

TRANSUNION PREDICTS 1 IN 5 NEVADA HOUSES WILL DEFAULT IN 2010 TransUnion’s quarterly analysis of trends in the mortgage industry found that mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 12th straight … Continue reading

Posted in Real Estate Trends, Uncategorized | 2 Comments

Strategic Foreclosures Test Moralists

Run, Don’t Walk Away From Your Mortgage I knew that a discussion of strategic foreclosures on The CBS Early Show would invite lots of comments. Maggie Rodriguez and I discussed the trend of people who can afford their mortgage payments, … Continue reading

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US Banks Take Hit to Clear Home Loan Books With Short Sales

“It used to take a year to get approval on a short sale,” said Leslie Carver, a real- estate agent in Las Vegas. “Now these deals are getting the green light from banks in a month and approval rates are … Continue reading

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F.D.I.C Slaps Back at the Famous 02.08.10 IndyMac Slap in Our Face Video

THE FDIC SLAPS, GETS SLAPPED, THEN SLAPS BACK All week long, officials at the Federal Deposit Insurance Corporation watched with growing dismay while the now famous February 8, 2010, Indymac YouTube video here ricocheted around the Internet. In 4 minutes … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | 16 Comments