Robo-Testifying In a Nutshell: The Triumph of Expediency Over Due Process in Florida Foreclosure Cases

Robo-Testifying In a Nutshell: The Triumph of Expediency Over Due Process in Florida Foreclosure Cases What is a robo-testifier or robo-witness? A person with little or no prior banking experience hired by the banks (servicers) for the job of testifying at hundreds of often back-to-back foreclosure trials who are specially trained by the servicers to … Read more

10 Year Interest Only Loans: Don’t Rule Out Another Bursting Real Estate Bubble

Don’t Rule Out Another Bursting Real Estate Bubble Every day, there are headlines announcing the housing crisis is over, that home prices are recovering and that Las Vegas is out of the woods (or nearly out). On the surface, these largely positive headlines are accurate, but it may be too early to celebrate. A few … Read more

U.S. Marshals Are Arresting People in Texas Who Have Outstanding Student Loans

 U.S. Marshals Are Arresting People in Texas Who Have Outstanding Student Loans Here’s what the U.S. government says about the student loan you may have been tardy about paying back: “If your loan is placed with a collection agency, you will be responsible for costs incurred to get payment. The holder of your loan can … Read more

Why Is the Obama Administration Trying to Keep 11,000 Documents Sealed?

Why Is the Obama Administration Trying to Keep 11,000 Documents Sealed? The “most transparent administration in history” has spent years trying to hide embarrassing financial secrets from the public For years now, the federal government has been quietly fighting to keep a lid on an 11,000-document cache of government communications relating to financial policy. The … Read more

Foreclosure Tragedy Can’t Compete with Ryan Lochte

Foreclosure Tragedy Can’t Compete with Ryan Lochte Foreclosures are no longer fodder for major news headlines. The media intensity diminished as Americans became dulled to the stories of millions of families being kicked out of their homes by big banks and Wall Street-backed hedge funds. Instead, the media whips up a frenzy over Ryan Lochte … Read more

Home Equity Loan Delinquencies Are Rising (BAC, JPM)

Home Equity Loan Delinquencies Are Rising (BAC, JPM) The 2007 housing crisis might be technically over but its ramifications, in the form of home equity loan delinquency payments, have persisted. Although delinquent mortgage payments have sharply declined recently, more homeowners have become lax in paying off home-equity lines of credit (Helocs) that many took out … Read more

N.J. Leads the Nation in Foreclosure Starts

New Jersey led the nation in foreclosure starts in the second quarter, as the mortgage industry continues to deal with a backlog of loans that went bad in the housing crash. Lenders started foreclosure proceedings on 0.75 percent of mortgages in the state during the quarter, the Mortgage Bankers Association reported this week. That compares … Read more

Big Unwind Begins in San Francisco, Miami, New York, Houston: Rents in “Primary Markets” Sunk by Apartment & Condo Glut

Big Unwind Begins in San Francisco, Miami, New York, Houston: Rents in “Primary Markets” Sunk by Apartment & Condo Glut Soaring rents have hit the wall of reality. This is how it is happening in Miami: A heroic building boom in Greater Downtown has created a phenomenal condo glut just when federal regulators decided earlier … Read more