The Financial Crisis Cost Every American $70,000, Fed Study Says

The Financial Crisis Cost Every American $70,000, Fed Study Says America never made up the growth it lost in the 2008 global financial crisis and the recession it triggered. A decade later, U.S. households are still counting the cost. Gross domestic product remains well below what its 2007 trend would have implied and it’s unlikely … Read more

US Foreclosures Rise For First Time In 36 Months, Florida Up 35%

US Foreclosures Rise For First Time In 36 Months According to the just released July 2018 U.S. Foreclosure Market Report released by ATTOM Data Solutions, foreclosure starts in July increased by 1% from a year ago — the first year-over-year increase following 36 consecutive months of decreases. Foreclosures rose from a year ago in 96 … Read more

U.S. Pursues One of the Biggest Mortgage-Fraud Probes Since the Financial Crisis

U.S. Pursues One of the Biggest Mortgage-Fraud Probes Since the Financial Crisis At issue is whether income from apartment complexes was falsified to support larger loans–which often became part of mortgage securities. Owners of an apartment complex near Pittsburgh, who wanted to take out a mortgage on the buildings, allegedly made vacant units look occupied … Read more

Foreclosure Crisis Strikes Back: The Dark Side of Single-Family Rentals

The Dark Side of Single-Family Rentals After the foreclosure crisis, global equity firms (the dark side) snapped up thousands of single-family homes to rent out. This massive shift in the market has not been good for aspiring homeowners, tenants, or neighborhoods. In 2011 single-family home prices hit a two-decade low, and mortgage rates were as … Read more

11th Circuit Blasts Lawyer’s Lawsuit Fighting Foreclosure as Frivolous ‘Garbage’

11th Circuit Blasts Lawyer’s ‘Shotgun’ Lawsuit as Frivolous ‘Garbage’ The opinion authored by Judge Gerald Tjoflat said that tolerating the “incomprehensible” complaint and multiple delays would constitute obstruction of justice—and gave the lawyer 21 days to explain why he should not pay double the defense’s appeals costs. After granting multiple extensions to an Alabama lawyer … Read more

California’s Housing Affordability Plummets To 10-Year Low

California’s Housing Affordability Plummets To 10-Year Low California’s housing affordability crisis is progressively getting worse. It has now plummeted to its lowest level in 10-years, and less than one in five households can afford to purchase a median-priced single-family home in the Bay Area, according to new data released by the California Association of Realtors … Read more