Monthly Archives: December 2010

Equator Processed More Than 500,000 Short Sales

December 29, 2010: Lenders initiated more than 500,000 short sales on Equator’s automated platform in one year of operation, the technology provider said Tuesday. The company said it has seen “substantial growth” in its short sale operations, including a platform … Continue reading

Posted in Off Topic, Uncategorized | Leave a comment

Las Vegas Home Prices Continue Downward Trend

December 22, 2010: Home sales in the Las Vegas region continued to fall in November as investors and first-time homebuyers dominated the market. A total of 3,693 new and resale houses and condos sold in the Las Vegas metropolitan area … Continue reading

Posted in Off Topic, Uncategorized | Leave a comment

Most Underwater Homeowners Will Eventually Default to Get Rid of Debt

December 20, 2010: Bank of America Merrill Lynch analysts said the most likely way households will deleverage roughly $1 trillion in excess debt is through the default of more underwater mortgages. Home prices in the Standard & Poor’s/Case-Shiller 20-city index … Continue reading

Posted in Off Topic, Uncategorized | Leave a comment

Poverty looms for the long-term unemployed

December 16, 2010: Fifteen million Americans are now unemployed, according to the most recent jobs report. The unemployment rate for November inched up to 9.8%. The grimmest numbers, however, are for the long-term unemployed (see chart 1): 6.3m people, 42% … Continue reading

Posted in Economic Trends, Uncategorized | Leave a comment

Foreclosures And Short Sales Still Pausing From the Robo-signing Scandal

Foreclosure filings dropped 21% in November from the previous month as lenders continued to review procedures for more signs of documentation problems, according to RealtyTrac. There were 262,339 filings in the month, which was also down 14% from a year … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | Leave a comment

Some Homeowners Pay Second Mortgage But Not First Mortgage

NOW THAT’S WIERD Borrowers who strategically default on their first mortgage often continue to pay on home equity lines of credit, according to a new white paper from two authors with the Philadelphia Federal Reserve. The authors, Julapa Jagtiani and … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Real Estate Trends, Uncategorized | Leave a comment

Foreclosed Homes In Vegas Still Killing Neighborhood Property Values

Just how toxic are foreclosures to those homeowners who pay their mortgages? Nasser Daneshvary, director of the Lied Institute for Real Estate Studies at UNLV, has done a study along with Assistant Director David Jones and economics professor Mike Clauretie. … Continue reading

Posted in Real Estate Trends, Uncategorized | Leave a comment

Nevada’s Shrinking Population Will Exacerbate The Ongoing Housing Market

December 8, 2010:. Manufacturing cities, especially those producing machinery and transportation products, have posted surprising drops in unemployment rates in recent months. This includes devastated cities like Detroit and Elkhart, which continued to experience big job losses early in the … Continue reading

Posted in Real Estate Trends, Uncategorized | Leave a comment

The 25-Year ‘Foreclosure From Hell’

LIVING RENT FREE IN AMERICA HAS NEVER BEEN EASIER December 8, 2010: Patsy Campbell could tell you a thing or two about fighting foreclosure. She’s been fighting hers for 25 years. The 71-year-old retired insurance saleswoman has been living in … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | Leave a comment

Postponing The Trustee Sale During The Short Sale Takes Luck

This is a reprint by Melissa Zavala on December 8, 2010: Throughout my stint in the short sale world, I have been known to report trends, as I seem them. Usually, a few weeks after I report a trend in … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | Leave a comment