The bottom line is that the loans themselves were fatally defective in terms of the loan documents. The money was delivered but not by the named “lender” nor anyone in privity with the named lender. At all times nearly all of the loans were in actuality involuntary direct loans from investors who had no knowledge …
U.S. Sues UBS for Fraudulent Sales of RMBS But Still Manages to Get It Wrong Read More »
Sheila Bair (ex FDIC Chairwoman) has always understood. She was fired for understanding. It’s hard to understand that the TBTF banks were NOT speculating and never lost any money. Harder still to understand how they stole trillions of dollars from the US economy. And finally harder still to understand how “lenders” could cause a crash. …
Sheila Bair Had a Plan to Make Banks Pay for Dishonest Dealing Causing the 2008 Crash Read More »
The appearance of zombie homes and the destruction of hundreds of thousands of them thus destroying entire neighborhoods and subdivisions illustrates a fundamental truth about the foreclosure tidal wave that hit in 2007-2008: the banks didn’t care about the property, they just wanted the record to reflect a foreclosure sale. This alone represents probative evidence …
Why Zombie Houses? Local government budget deficits Read More »
Thousands of cases like this one have pointed out that SPS and other servicers like Ocwen do not consult with any investor, do not evaluate the case for settlement, modification or mitigation. The answer to questions arising from the unwillingness of those companies to comply with law stems from the fact that the vast majority …
Homeowners Sue SPS in Class Action Over Failure to Mitigate Read More »
by Kathryn Vasel @KathrynVasel Rising housing costs are putting a major squeeze on Americans. Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies. Experts generally advise budgeting about 30% of monthly income for rent or mortgage costs. But …
What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak http://www.zerohedge.com/news/2017-06-16/what-housing-recovery-real-home-prices-still-16-below-2007-peak Since the financial crisis, home equity has gone from being America’s biggest driver of (illusory) wealth to one of the biggest sources of economic inequality. And while the post-crisis recovery has returned the national home price index to its highs from early 2007, …
https://www.wsj.com/articles/millennials-want-to-buy-homes-but-arent-saving-for-down-payments-1495731583?mod=e2fb One of the frequent reasons cited for the failure of the US housing sector to rebound to its pre-recession levels, is the lack of household formation among young American adults and specifically the unwillingness, or inability, of Millennials, which last year overtook Baby Boomers as America’s largest generation… … to move out of their …
Millennials Want to Buy Homes but Aren’t Saving for Down Payments Read More »
By Danielle DiMartino Booth Amid the carnage in the auto sector, economists have sought solace in the comforts of home, sweet home. A recent Census release suggests that Millennials, long sidelined, have finally started to tiptoe into the home-buying market. The reception to the data was so effusive that other reports, suggesting housing has reached …
the parties are creating the illusion that they are essentially entering into an agreement to purchase paper from the seller where there is no original paperwork and no indication that the purchase ever actually took place. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. THIS ARTICLE IS NOT A LEGAL …
Fake Agreements Between Sham Conduits Try to Preempt Courts from Ruling on Evidence Read More »
Don’t wait until we find out what Trump really means to do as President. We should make up his mind and express outrage to him and all sitting Senators, Congressman, Governors, State legislators, law enforcement, County and City Government and even the Courts. This election is not over, unless we let it be over and …
Az becomes the second state in recent years to adopt gold and silver coin as legal tender. Utah was first. And over the years several successful experiments have occurred wherein a city or county issued its own currency. This should come as no surprise to sophisticated investors. while there is considerable historical support for leaning …
“Bottom Line: Foreclosures need to stop, student loans need to be modified and return to pre-2005 rules for dischargeability, wages need to rise and the number of people earning wages needs to rise. If you don’t have those ingredients, the economic “recovery” will forever be fragile and will forever be in danger of a much …
“Furthermore, evidence of the DocX forgery and fabrication process could be used to reach even higher. Who directly solicited the company for fake documents? The foreclosure mill law firms, which then knowingly submitted them into courts. Who directed the foreclosure mills to do that? The mortgage servicers, which are typically units of the biggest banks. Furthermore, there’s no reason to …
Look Who Got thrown Under the Bus for Criminal Prosecution on Banking Crisis Read More »
World renowned economist Robert Shiller, in a candid interview with Drew Sandholm of CNBC, gives a realistic perspective on the housing market. Calling the housing bubble a “once in a lifetime thing,” Shiller says that the outlook is uncertain. The “recovery” even if housing increases by 3% per annum, would in reality be flat, especially …
GOOD CAMPAIGN SLOGANS: “I will fight to bring the mega-banks under control” ” I will fight for reporting requirements that reveal insolvent banks before they threaten our financial system again.” ” I will fight for audits of reporting to identify exotic financial instruments that are cover-ups for PONZI schemes” ” I will fight to recover …
Advice to Politicans: Run Against the Banks, not Foreclosures Read More »
Editor’s Comment: The practice of disregarding normal loan underwriting standards creates a claim that homeowners were tricked into loans that they could never repay. The Consumer Financial Protection Bureau, built by Elizabeth Warren under Obama’s direction is about to pass a rule that addresses that very issue. The new Rule would allow homeowners contesting foreclosure …
CFPB Safe Harbor Rule Would Allow Homeowners to Fight Bad Mortgages Read More »
Editor’s Note: Hera research conducted an interview with Neil Barofsky that I think should be read in its entirety but here the the parts that I thought were important. The After Words are from Hera. After Words According to Neil Barofsky, another financial crisis is all but inevitable and the cost will be even higher …
Barofsky: We Are Headed for a Cliff Because of Housing Read More »
HOME PRICES SET TO DROP AGAIN! Editor’s Comment: You can spin this anyway you want, but the facts speak for themselves. People are worn out living under mountains of debt, some need to move for job purposes, and some need to reduce their payments because they are running out of resources to pay a mortgage …
Shadow Inventory: 1 in 5 homes are underwater and current on payments Read More »
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Everyone Else Knows: Why Do We Continue To Ignore It? Read More »
MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT EDITOR’S COMMENT: It is clear that once again the politicians are leading from behind, which is to say they are not leading, they are reacting. Well they should react to this: voters perceive the problem with the economy as related to housing. Economists …
YAHOO STUDY: VOTERS WANT ACTION ON HOMEOWNER CRISIS Read More »
MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT “The debt load is so high, and the job outlook so bleak, that student loan default rates have almost doubled,” he wrote in a note to clients. “With the economy little improved since 2009 default rates are bound to rise further.” “This number …
HOW STUDENT LOANS ARE HOLDING BACK HOUSING, ECONOMY Read More »
MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE see also 1/3 of all homes underwater — at a minimum EDITORIAL NOTE: With a few places as an exception, home prices, once predicted as bottoming out LAST YEAR, continue to drop and are expected to take another plunge of 15%-20%. Experts who …
HOME PRICES CONTINUE TO DROP WITH ANOTHER 15%-20% TO GO Read More »
MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE “That has led a growing number of economists to argue that the collapse of housing prices, a defining feature of this downturn, is also a critical and underappreciated impediment to recovery. Americans have lost a vast amount of wealth, and they have lost …
MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE EDITOR’S NOTE: The Times Editorial hits the nail on the head, but uses the wrong hammer. Jobs and growth of the middle class is the only thing that will stand between us sustaining ourselves as a world power or becoming a banana republic. …
NY TIMES: LOUSY JOBS, NO JOBS, NO GOOD PROSPECTS Read More »
