Archive | December, 2011

The World Turns On, But Inventory Does Not


CoreLogic is a company that tracks all kinds of trends. They take a slice of recent history and the economic factors within it and do cool calculations that slice and dice information used by pundits and prognosticators – and sometimes speculators. Data is only as good as its interpretation.  What is even more important is […]

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December 10, 2011



What is News?


It is beyond me how people who call themselves writers seemingly have no imagination about subject matter. There are so many things to write about in the housing industry that it confounds me when I read repeated articles about old news. Do we really need to understand that housing foreclosures are about to pick up […]

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December 9, 2011


Foreclosures, Mortgages

This Too Shall Pass


You have exactly four options if you are underwater on your mortgage.  They are as follows: Modify your loan (hopefully it is not serviced by Fannie / Freddie) Attempt a short sale Stay and pay Walk away And that is about it.  Of course, if you live in a very desirable area, you have a […]

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December 8, 2011


Loan Modifications

There is No Limit to Idiocy


What happens when you get two idiots in a fur covered van?  A movie called dumb and dumber.  Very funny indeed. What happens when you get 485 idiots in one city?  Congress, that’s who. Case in point – the conforming loan limit.  Leading the jester parade is Robert Menendez (D) New Jersey. What the reversal […]

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The Worm Turns


Whatever you have heard about the death of The American Dream is absolutely erroneous. Well, as long as you aren’t American. Huh?  Yeah, the foreclosure inventory in highly desired areas is being bought up by foreign investors. And hey, it’s not all that bad. The President did tell Joe The Plumber that he thought that […]

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The Obtusely Obvious Advice of the NYT


So the new breaking news from the NYT is that 79% of the mortgages that were closed in 2011 were refinances. That would make sense, wouldn’t it?  I mean, there is very little selling and the economy is on life support so how else could there have been originations? Not to mention the fact that […]

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The NYT is at It Again


Oh the New York Times is at it again stating the obvious and distorting effects. There is no question that the NYT is a left leaning organization. In fact, before I get started with the facts of the matter in question, I am going to rail a bit about journalism in order to blow off […]

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Sometimes a Short Sale Pays


Many lenders are beginning to realize that it makes far more sense to allow a Shortsale and even to pay for one. One case of such a payment occurred to an Illinois homeowner who fell on hard times. Chase gave him a $20K for his troubles. This makes sense as a straight foreclosure will generally […]

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Should You Buy or Rent?


Assuming you can qualify for a loan and are gainfully employed and can service said loan, ask yourself the eponymous question entitling this article. If you are making a reasonable amount of money, say enough to qualify for AMT, then your answer is simple – you should absolutely buy. Why?  Because if you don’t, you […]

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Pop Goes the Real


It seems that Brazilian real estate is blowing up just like US real estate did in 2007. Yeah, just like a bubble, right? You see, since a large cache of oil was found off shore in Brazilian waters and China has an insatiable appetite for Brazilian commodities, the economy in brazil is booming. So let […]

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