ForeclosureTruth | Foreclosure News, Opinions and Analysis

The Foreclosure Report – December 2011

Mike Daniel — Thu, 12 Jan 2012 17:17:30 +0000

2011 Foreclosure Activity Ends With a Whimper Foreclosure Starts dropped significantly throughout our coverage area with the exception of a modest increase in Oregon. Foreclosure Sales were mixed, and down far less than we expected given lender announcements of holiday moratoriums. California and Washington actually saw modest increases. Also surprising was a drop in the [...]

Should I Stay or Should I Go Now?

Michelle Lenahan — Wed, 04 Jan 2012 17:53:45 +0000

In 1981, English punk rock band The Clash wrote “Should I Stay or Should I Go?” about the rocky personal relationships between members of the band when facing the dilemma of sticking together or breaking up. The lyrics could not be more appropriate for homeowners buried in a mountain of negative equity and wondering what [...]

FHA Keeps Funding Flips, Investors and Buyers Rejoice

Mike Daniel — Thu, 29 Dec 2011 00:37:00 +0000

In a move that will undoubtedly make investors stand up and cheer, the Department of Housing and Urban Development (HUD) announced today that the Federal Housing Administration is extending a temporary waiver of its “anti-flipping” rule. The waiver is a boon for investors who rely on rehabbing and selling properties in a short timeframe, and [...]

Looking Back: 2011 Analyzed, and My 2012 Real Estate Market Prediction

Sean O'Toole — Wed, 21 Dec 2011 16:58:01 +0000

Last year I attempted to make some predictions for the coming year. I thought it would be a worthwhile exercise to take a look back at 2011 and see how I did, and then share my thoughts on what should happen in the new year. At this time last year, I predicted the following: My [...]

The Foreclosure Report – November 2011

Mike Daniel — Tue, 13 Dec 2011 04:10:48 +0000

Foreclosure Sales Slow for the Holidays, While Lenders Prepare for 2012 It is not unusual to see foreclosures slow for the holidays, and the this year is no exception. Foreclosure starts were up slightly in Nevada and Washington, but the increases were insignificant given the recent declines in those states due to legislative changes and [...]

Occupy Wall Street Targets the Banks – Who Wins?

Sean O'Toole — Tue, 06 Dec 2011 17:33:36 +0000

Today Occupy Wall Street (OWS) is having its National Day of Action to Stop and Reverse Foreclosures. The idea being that they can hurt the banks by forcing them to stop foreclosing. Only problem with this plan is that foreclosure delays help the banks as we introduced with our Foreclosure Roulette blog post, and demonstrated [...]

Big news on Robo-Signing and MERS today!

Sean O'Toole — Thu, 17 Nov 2011 20:01:18 +0000

Two big pieces of news today on the foreclosure front: 1. Michigan Supreme Court Reverses Ruling on MERS’ Right to Foreclose 2. Nevada Grand Jury Indicts Two in Alleged Robo-Signing Scheme Before I share my thoughts on each of these cases, let’s start with some background: When the whole robo-signing scandal first erupted, we predicted [...]

The Foreclosure Report – October 2011

Mike Daniel — Tue, 15 Nov 2011 21:14:27 +0000

Little Change in California, as Nevada and Washington Foreclosure Starts Plummet Foreclosure Starts in California were little changed this month, after a dramatic increase in August and subsequent fall in September. Other California foreclosure activity was also little changed in October. California foreclosure investors gained traction with 9.9 percent more properties sold to third parties [...]

Vultures – An Essential Part of the Real Estate Ecosystem

Michelle Lenahan — Mon, 07 Nov 2011 23:59:09 +0000

In the animal kingdom it’s ironic that we glorify predators, like the lion, while we vilify scavengers, like the vulture, that clean up the mess left behind. Even the great Benjamin Franklin was unable to fight this prejudice in his preference of the turkey over the eagle (a predator) as a national symbol. If you [...]

Protecting Our Protectors: Mortgages and the Servicemembers Civil Relief Act

Mike Daniel — Thu, 27 Oct 2011 22:19:43 +0000

Active military service can be very difficult financially for the men and women who serve, and the family members they leave behind. The stress of knowing your loved one is potentially in harms way is enough of a burden, without having to worry about loss of income and unpaid debts that sometimes are a part [...]