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The talks aim to settle allegations that banks including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, seized the homes of delinquent borrowers and broke state laws by employing so-called "robosigners," workers who signe
The worst market in terms of negative equity is Las Vegas. Nearly 73 percent of all loans are underwater! This is simply incredible. Much of the Las Vegas bubble was built from home equity from places like California.
It’s typically at this age (20-29 year old) when a young person moves away from home and, in doing so, a new household is created. The catch is that the unemployment rate for this age cohort is well into the teens.
RealtyTrac is forecasting that Houses with $5 million+ mortgages will likely be the next class of loans to go belly up. While the overall numbers are small, they expect to see a sharp rise in foreclosures this year.
The era of record-low mortgage rates is over. The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market
You have no idea how hard it is for me to report survey results like this. In spite of all that has happened over the past four years, American's refuse to face reality on any level. I guess propaganda beats reality hands down.
Last month, a record 5,556 homes across metropolitan Phoenix were foreclosed on by lenders, reports the Information Market. That's a 30 percent increase from February. Pre-foreclosures climbed to 8,045 last month, up from 7,604 ...
Good thing the FASB has allowed all this worthless paper to be carried at par or else we might all realize just how the market trades on vapors, myth and lots of hope.
