By: pythonessL

pythonessL — Thu, 12 Mar 2015 05:20:37 +0000

LPS strikes again, beware the Black Knight. What a pathetic stupid name trumped up by Fidelity Investments-suffocate your own Empire fools.

By: talktotennessee

talktotennessee — Tue, 10 Mar 2015 16:40:25 +0000

As a RE appraiser I’ve noticed an increase in foreclosures [trustee deeds] outnumber REOs in the former subprime neighborhoods. Driving this market are multi-parcel purchases by large investment corporations buying up to 100 properties in a package sale $68K +.. Then sold or transferred to smaller, local management companies that handle turnkey sales to individual global investors. Are they sold in their original condition? It is highly doubtful. Actually the purchases may be tax write-offs. $68,000 may sound like a bargain price for a 3/2 SFR to many. But for those not familiar with this market an unrenovated REO actually sells closer to $20-30,000. There are two markets afoot with turnkey marketers selling renovated/leased houses to small individual investors with property management in the package at prices in the 70s and 80s. These are typically cash or hard money sales with no need for financing terms or appraisals. I wondered why a large investor would be interested in paying twice the value of these derelict houses, in their original condition, in formerly sub-prime neighborhoods until I read that SOME larger investors are writing off high taxes using these purchases as tangible proof for their writeoffs. So if this company pays the bank FNMA or original lender this price for his foreclosure, it is a win for the lender, right? More than he makes on individual REO sales. But why would a buyer pay this much for a house that is typically marketed as an REO for half that price? Good question! There is a lawsuit by the IRS charging one investment company with tax evasion. I presume writing off income from other investments using a controlled offset to reduce tax burden may appear legitimate. He pays twice the value and divests at a controlled loss to a smaller investment entity who market globally to individual investment buyers in a turnkey operation: Renovated house that is leased and managed. This is actually an emerging market. These actions are viewed as neighborhood recovery by local leaders.. For the most part sales are marketed by global investment groups to individuals or smaller LLCs. They are seldom marketed locally to owner occupant buyers. Neighborhoods are converted to rental housing enmass where they may await a second round of foreclosures when the small investor realizes his purchase must be regularly renovated with management costs cutting into an inflated cash flow?
Just saying is the new breed of investors shuffling these houses much as they did the paper credit derivatives until this new bubble bursts and municipalities are again left with a sea of derelict housing foreclosures?

By: BOBBI SWANN

BOBBI SWANN — Tue, 10 Mar 2015 16:08:53 +0000

‘January foreclosure starts jumped about 10% from December in judicial states as compared to just a 1.7% increase in non-judicial states’ – this statement just goes to show why, in Florida, there is much more fraud than in other states. Aside from the fact that our judicial system here is sooo full of corruption. And why are delinquencies mounting? Why we have such a growing economy with unemployment numbers down, personal spending is up……frickin liars! People are so gullible. And what a great press secretary the Obama administration has on staff….feeding the B.S. to the masses. Eat it up America….because the more you swallow the less constitutional rights you have.

By: Jacob Giampavlo

Jacob Giampavlo — Tue, 10 Mar 2015 13:30:07 +0000

THERE ARE THOUSANDS AND THOUSANDS OF HOMES FORECLOSED. THEY ARE SLOWLY BRINGING THEM OUT. IF ALL WOULD BE RELEASED IT WOULD CA– USE A PANIC. IT IS SICK AND SAD HOW IN ILLINOIS YOU GET TAXED 8000 to 10,000 on a 225,000 HOME. WHY BUY WHEN YOU CAN RENT TAX FREE.

Comments on: Black Knight: 1st Time, Repeat Foreclosure Starts at 12-Month High

By: pythonessL

By: talktotennessee

By: BOBBI SWANN

By: Jacob Giampavlo