Monthly Archives: October 2012

Rebuilding credit score after foreclosure or short sale takes ten years or longer

Evidence suggests that the process of regaining creditworthiness is lengthy. Borrowers who terminated their mortgages for reasons other than default returned to the market about two-and-a-half times faster than those who defaulted. This has important implications for the housing recovery. … Continue reading

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A Remax solution to the housing recovery

Dear President Obama and Governor Romney Let housing lead the recovery. We have just witnessed the last of three presidential debates in anticipation of elections now just 2 weeks away. Considering the depth of these debates and the months of … Continue reading

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United States sues Bank of America for $1 Billion for Doing the Hustle

America filed a civil mortgage fraud lawsuit against Bank of America, accusing it of selling thousands of toxic home loans to Fannie Mae and Freddie Mac that went into default and caused more than $1 billion of losses. Wednesday’s case, … Continue reading

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Millions more rent rather than own

The United States added 4.8 million renters in the past six years while losing 1.7 million owner households as the dynamics of the real estate space changed in the wake of the 2008 financial meltdown, according to the Mortgage Bankers … Continue reading

Posted in Real Estate Trends, Uncategorized | 1 Comment

Bank of America sues HOAs

In a new twist, Bank of America filed suit in Clark County District Court earlier this week against numerous Homeowner Associations which foreclosed on homes wherein the Bank had secured mortgages. The suit claims that the HOAs are pursuing more … Continue reading

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Home buyers are back after foreclosures

AFTER FORECLOSURE OR SHORT SALE YOU CAN BUY AGAIN IN THREE YEARS Millions of families lost their homes to foreclosure after the housing crash hit six years ago. Now, some of those families are back in the housing market. Call … Continue reading

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Residential house construction heats up

The U.S. Census Bureau and the Department of Housing and Urban Development reports privately owned housing starts increased 15% since August from an annual rate of 758,000 to 872,000 homes. That is 34.8% above last year’s rate of 647,000. The … Continue reading

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So Cal House Prices Go Up

Southern California is on the rebound when it comes to home prices, but sales are beginning to fall as inventory levels decline, DataQuick said in a report Friday. During the month of September, counties in Southern California saw the median … Continue reading

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Bank litigation still going strong

HARDLY a week goes by without an announcement of a big lawsuit against a bank in America. Wells Fargo was this week’s target: the Department of Justice sued the bank for allegedly dodgy lending, among other things. Last week it … Continue reading

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Social inequality and economic growth

Modern politics needs to come up with ways of mitigating inequality without hurting economic growth. The twin forces of globalisation and technical innovation have actually narrowed inequality globally, as poorer countries catch up with richer ones. But within many countries … Continue reading

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