Critical Signs in Foreclosure Talks
Critical Signs in Foreclosure Talks
Wall Street Journal, April 12, 2011
Hopes are fading for a far-reaching settlement between regulators and banks over improper home foreclosures as some regulators press ahead to reach their own settlements with banks that others involved in the talks deem weak. The dispute pits federal regulators against state attorneys general, who are seeking stiff penalties and comprehensive changes in the way banks foreclose on homeowners and modify loans. Advocates of tougher sanctions accuse federal banking regulators, including the Office of the Comptroller of the Currency and the Federal Reserve, with going easy on the banks.
Right-to-Rent Would Ease Foreclosure Mess
Wall Street Journal, April 12, 2011 (Opinion)
While the rate of foreclosures may have finally peaked, it is not going to come down quickly. We are virtually certain to see at least a million foreclosures in 2011 and comparable numbers in 2012 and 2013. Many more homeowners will lose their homes through distressed sales.
Florida Foreclosure Defense Attorneys Allege 'Rocket Docket' Abuses
HousingWire, April 12, 2011
Judges pushing Florida's so-called 'rocket docket' ignored court rules regarding affidavits and often issued final judgments the same day a foreclosure filing was docketed, according to an American Civil Liberties Union lawsuit.
Hear Why Real Estate Rebound 2 to 4 Years Off
Orange County Journal, April 11, 2011
Mattress king Larry Miller — of “You’re killing me, Larry!” ad fame — has been selling bedding through his family’s Sit ‘n Sleep chain for 30 years. He admits it’s pretty much a real estate business, as its ups and downs are largely tied to people willing ness to buy homes and to furnish new — or old — residences. A rebound, Miller says, is “two to four years off before we see a complete rebound in business.” To hear our podcast interview with Miller, CLICK HERE!
New Questions About Banks' Force-Placed Insurance Deals
American Banker, April 12, 2011
Force-placed insurance is already under fire from a coalition of state attorneys general because it burdens troubled borrowers with expensive premiums, provides inferior coverage and often dumps the cost on mortgage investors at the time of foreclosure if borrowers failed to pay the premiums. In the process, banks reap lucrative commissions from insurers.