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

Second Investor Pleads Guilty in Foreclosure Bid-Rigging Case

Second Investor Pleads Guilty in Foreclosure Bid-Rigging Case Real estate investor Christopher Graeve pleaded guilty this week to rigging online foreclosure auctions for homes with a total value of $8 million, the U.S. Department of Justice said. Graeve is the second real estate investor to plead guilty in this investigation. Stuart Hankin in June admitted to violating … Read more

FL 3rd DCA: Foreclosure Fraud – Once There’s a Loan Mod, Bank Can’t Win on Original Note Alone

No. 3D16-1553 Lower Tribunal No. 13-5691 ________________ Francisco Pijuan, et al., Appellants, vs. Bank of America, N.A., Appellee. An Appeal from the Circuit Court for Miami-Dade County, Eugene J. Fierro, Senior Judge. Appellants, defendants below, Francisco, Luisa, Francisco Jr. and Sonia Pijuan (“Pijuan”)1 appeal the final foreclosure judgment entered in favor of appellee, plaintiff below, … Read more

Chain of Title Podcast: David Dayen on The Background Report

Chain of Title Podcast: David Dayen on The Background Report Click on the above image to listen. Neal Barton did one of the more fun interviews with David Dayen about Chain of Title, where he got into some stuff in the book that he hasn’t talked about a lot. Chain of Title completists, check it … Read more

Wells Fargo Apologizes After “Accidentally” Foreclosing Hundreds Of Homes

Another day, another ‘apology’ for screwing up from Wells Fargo. Six months after the Fed Slammed Wells Fargo with unprecedented sanctions – no more total asset growth until it cleans up its act – because of a pattern of consumer abuses and other lapses, that list grew over the weekend when the firm said it … Read more

WSJ: The Stealth Pension Mortgage on Your House

The Stealth Pension Mortgage on Your House Real estate is the ultimate collateral for unfunded state public employee retirement obligations. Most cities, counties and states have committed taxpayers to significant future unfunded spending. This mostly takes the form of pension and postretirement health-care obligations for public employees, a burden that averages $75,000 per household but … Read more