Strategic Foreclosure: Why People Are Ditching Their Mortgages
By Douglas French, Christian Science Monitor, Jan 17, 2012

More and more underwater borrowers are deciding it’s time to walk from their mortgage. “Guilt and morality are one side, and objective financial analysis are on the other side,” 68-year old David Martin told msnbc. “They’re coming to two opposite conclusions. I wonder how many other people are struggling with the same question.”  Three out of 10 foreclosures in 2010 were of the strategic variety, an increase from 22 percent in 2009. The Mortgage Bankers Association believes strategic defaults are spreading like a virus.

Obama to Try Better Smoke and Mirrors to Address Housing Market Woes
By Yves Smith, Naked Capitalism, Jan 18, 2012

If I had Onion-level parody skills, I’d treat the latest story in The Hill on Team Obama’s latest housing head-fake masquerading as an initiative by riffing on one of its planned new program. Call it HUMP, Homeowners Upward Mobility Program. In true Ministry of Truth style, mortgage borrowers facing foreclosure would be moved, discreetly, into tent cities that would do Potemkin proud, with names like “Country Club Lane” and “Lake Shore Drive” and painted facades in front of their tents and shanties

Michigan Family Beats Bank in Court
By Jim Kiertzner, WDIV-TV, Jan 17, 2012

A landmark ruling by the Michigan Court of Appeals could stop some foreclosures by banks, even if they are late in the process including eviction. The Kim family, of Shelby Township, sued Chase Bank after the bank took over their mortgage that was with Washington Mutual.

Homebuilder Sentiment at 4-1/2-yr High
By Reuters, Jan 18, 2012

U.S. homebuilder sentiment unexpectedly jumped in January to its highest level in four and a half years, suggesting the housing market is starting to heal, the National Association of Home Builders said on Wednesday.

From Bottom Up, Signs of Housing Recovery
By Josh Barbanel, Wall Street Journal, Jan 17, 2012

After years of watching home prices slide, Claudia Ruggiero, a teacher in White Plains, was ready to strike. She and her husband Michael Johnson, also a teacher, had a 14-month-old son at home and needed a shorter commute. They found a three-bedroom Dutch colonial in Armonk, a neighborhood they thought they could never afford, for a bit more than $500,000.

Beware a Slow Cascade of Additional Foreclosures in 2012
By Alan Heavens, Philadelphia Inquirer, Jan 15, 2012

If the numbers were the only barometer, it would appear that the U.S. foreclosure crisis had eased considerably in 2011. But taken alone, those statistics don't tell the whole story of the pressures on homeowners and how they are affecting the nation's housing market.

Bank Foreclosing on O.J. Simpson's Florida House
By The Associated Press, Jan 16, 2012

A bank is foreclosing on the Florida home of O.J. Simpson, who is serving time in a Nevada prison for kidnapping, armed robbery and other charges.

Foreclosure Auctions Show Raw Form of Capitalism
By Ken Belson, New York Times, Jan 14, 2012

To the unknowing, the few dozen people milling around the picnic tables in front of the Maricopa County courthouse here every day could be jurors on break or scofflaws finally coming to pay a ticket. They tug on cigarettes, sip from big cups of coffee and fidget with their cellphones, often speaking in whispers.

Projection: Rents, Incomes to Grow Together
By Matthew Strozier, Wall Street Journal, Jan 12, 2012

These are heady days for apartment owners: Demand is growing and supply of new rentals continues to lag. But are landlords getting ahead of themselves? Will a recovery take hold that allows people to afford heftier rents? It turns out that the outlook isn’t so bad. Research from the real-estate forecasting firm Property & Portfolio Research, which is owned by CoStar Group, says median household income and average rent over the next five years will grow at similar rates.

A.G.’s, Frustrated With Foreclosure Settlement, Consider Alternate Course
By Loren Berlin, Huffington Post, Jan 12, 2012

Attorneys general or representatives from nearly 15 states met in Washington, D.C., on Tuesday to discuss and share different enforcement options and strategies around various mortgage-related issues, according to sources familiar with the conversation. The meeting was prompted by the slow pace at which a national foreclosure settlement led by the Obama administration is progressing, and is likely to be the first in a series, said these sources.

2011’s foreclosure activity is the lowest since 2007, before the recession began
By Associated Press, The Washington Post, January 12, 2012

NEW YORK — About 1.9 million homes entered the foreclosure process in 2011, the lowest level since 2007 when the recession began, according to a report Thursday by the foreclosure listing firm RealtyTrac Inc.

Foreclosures targeted for rental
By Mary Ellen Podmolik, The Republic, January 12, 2012

CHICAGO — As the housing market enters a new year of watching and waiting for stability to return, there is also some action afoot: Efforts are expected to take shape to tackle the vast swath of empty homes and fill them with residents — and in many cases, renters.

Six Questions on Foreclosure-to-Rental Programs
By Nick Timiraos, The Wall Street Journal, January 12, 2012

Wednesday’s Journal looked at how one private-equity firm is making a bet on renting out single-family homes acquired through foreclosure. In the coming weeks, federal policy makers could roll out pilot programs to further test the concept. Here’s a look at what’s involved:

Home Price Declines Consistent Across the Country
By Krista Franks, DSNews, January 11, 2012

Marking the fifth consecutive month of decline, home prices fell 0.8 percent in October, matching levels last seen in 2002, according to Lender Processing Services’ (LPS) Home Price Index released Wednesday. As of October, the national home price average was $200,000.

Federal Reserve's 'beige book' confirms improving U.S. economy
By Don Lee, Los Angeles Times, January 12, 2012

The Federal Reserve's latest report on the nation's regional economies showed that the pace of activity around the country is picking up, with the notable exception of the housing market.

By promoting mortgage refinancing, Obama could win big
By Ezra Klein, Washington Post, January 9, 2012

From 2001 to 2003, Glenn Hubbard served as President George W. Bush’s chief economist. Today, he’s dean of Columbia University’s School of Business and one of Mitt Romney’s top economic advisers. But right now, the candidate who could most benefit from his advice is President Obama.

Housing looms as strong voting issue in presidential election
By Lew Sichelman, Los Angeles Times, January 8, 2012

At no time in memory has housing been a major issue in a presidential election. Some years, the topic garners hardly more than a passing mention in the planks of either political party.

White House wants to convert foreclosed houses to rentals
By Diana Olick, cnbc.com, January 10, 2012

The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, are very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials.

Servicers modify nearly half of HAMP eligible second liens
By Jon Prior, HousingWire, January 9, 2012

Mortgage servicers participating in a Treasury Department program to modify second liens provided workouts on roughly 47% of all such eligible loans through November.

Dec. Unemployment Rate Lowest in Nearly 3 Years
By Tim Mullaney, USA TODAY, Jan. 6, 2012

The U.S. job market strengthened in the second half of 2011 and added 200,000 jobs in December while the unemployment rate fell to 8.5 percent from a revised 8.7 percent a month earlier. December's biggest growth came in transportation, especially courier services that staffed up for the holidays, and in health care and manufacturing, according to the U.S. Bureau of Labor Statistics.

Washington Wades Deeper into Housing
By Clea Benson, Lorraine Woellert and Roben Farzad, BusinessWeek, Jan. 5, 2012

Lawmakers began 2011 with sweeping ambitions to shrink the U.S. government’s involvement in mortgage finance. They ended the year enacting policies that increase it. An 11th-hour extension of the payroll tax cut, signed into law on Dec. 23, will for the first time divert funds from Fannie Mae and Freddie Mac, the two mortgage finance companies under U.S. conservatorship, to pay for general government expenses. Congress also took steps that are likely to increase the role of the Federal Housing Administration in the market — at the same time that the agency’s reserves hit a record low. And some economists are charging that the FHA’s finances are even worse than they appear.

Bailout Concerns Mounting for FHA
By Les Christie, CNNMoney, Jan. 3, 2012

Concerns are growing that the Federal Housing Administration will need to be bailed out by taxpayers. The agency's latest monthly outlook report revealed a spike in serious delinquencies for FHA-insured loans, posing a further threat to the agency's already depleted cash reserves.

30-Year Mortgage Down to Record 3.91 Pct.
By Dereck Kravitz, Bloomberg, Jan. 5, 2012

2012 looks to be another year of opportunity for the few who can afford to buy or refinance a home.The average rate on the 30-year fixed mortgage fell to 3.91 percent this week, Freddie Mac said Thursday. That matches the record low reached two weeks ago.

Florida Man Almost Loses Home Over 80 Cents
By Susanna Kim, ABC News, Jan. 5, 2012

A Florida man who is trying to get a loan modification from Bank of America is worried he may lose his home over an 80 cent mistake. Tom Mudie, 56, arranged a three-month trial period that would allow him to obtain a loan modification for his home in Largo, Fla. But a slip of the finger on a telephone payment system and he accidentally underpaid one of the trial payments by 80 cents, putting his house in jeopardy of being foreclosed.