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  • All-Cash Home Sales Hit Record 42% of Sales

    12/22/2013 10:28:58 AM PST · by Kaslin · 57 replies
    Townhall.com ^ | December 22, 2013 | Mike Shedlock
    Even though household formation by millennials is at a record low percentage, home sales are at modest levels thanks to investor all-cash buying. Market-Watch notes All-Cash Home Sales Reach New High. More Americans are buying homes in all-cash deals, according to a new report. But real-estate experts say this increase may not be a good sign for the health of the housing market, which may also be impacted by the Federal Reserve’s decision to pull back on its bond-buying program. All-cash purchases accounted for 42% of all sales of residential property in November 2013, up from 39% during the previous...
  • Bank of America Has One Million Customers Who Missed at Least Two Payments

    07/19/2012 9:36:36 PM PDT · by lbryce · 12 replies
    OC Housing News ^ | July 11, 2012 | Staff
    Banks are slowing foreclosure rates yet again, and it isn’t because they are out of borrowers to foreclose on. With the settlement earlier this year, banks began to clear out their existing REO inventory, and they slowed foreclosures in the Southwest in order to modify mortgages to meet their requirements under the settlement (note the uptick in cancellations last month). Ideally, the banks would like to modify loans to keep borrowers in place and complete short sales for those who want to leave. They don’t want to resolve there legacy toxic loans by foreclosure. Unfortunately, borrowers are not cooperating....
  • The super-villain of subprime unmasked! (and it's not Angelo Mozilo)

    11/16/2010 10:57:07 AM PST · by Riflema · 6 replies
    Yahoo/AP ^ | 11-16-10 | Peter Gorenstein
    As detailed in this previous clip, co-authors Bethany McLean and Joe Nocera say there's plenty of blame to go around, from Alan Greenspan .....
  • Schwarzenegger proposes 90-day freeze on pending home foreclosures[Ca]

    11/06/2008 9:19:19 AM PST · by BGHater · 20 replies · 1,166+ views
    LA Times ^ | 06 Nov 2008 | Marc Lifsher
    The plan is part of an economic stimulus package the governor expects to put before lawmakers to spur loan workouts. Reporting from Sacramento -- Gov. Arnold Schwarzenegger on Wednesday proposed a 90-day freeze in pending home foreclosures to give California's financially pinched homeowners more time to get new or more affordable loans. The governor unveiled a foreclosure relief and long-term mortgage reform initiative as part of an economic stimulus package that he plans to put before lawmakers in a special session of the Legislature scheduled to begin today. "The single most powerful action our state can take to shore up...