I postulated that loanowners would begin listing their homes as soon as prices reached near-peak levels when they could get out without completing a short sale. Upon further reflection, I’ve concluded that we may not see many more MLS listings once loanowners are above water. We will certainly see some, and we are seeing some of these WTF listing prices now, but the cloud inventory may remain in the clouds until rising housing costs force these over-extended borrowers to leave. Conversation with a loanowner I recently had an extended conversation with a loanowner who doesn’t make enough money to afford [Read More...]

Have you ever come across some really in-depth writing on involved topics on the internet? It’s pretty rare. I try my best at the OCHN to give a greater level of depth than what people find in the mainstream media, but there are others out there who take it to another level entirely. Last weekend, I introduced you to the Strategic Deals Law Blog. In their own words, “Strategic Deals Law Blog offers insights into the complicated world of business transactions, bringing clarity and the tools needed to make your business a success.” The blog is written by clear-thinking practicing attorneys [Read More...]

The amend-pretend-extend policy of lenders is designed to avoid recognizing losses. They hope to replace their old bad loans with good new ones. So far they have been successful at keeping this bogus debt on their books. The result is millions of delinquent borrowers in shadow inventory. Fannie economist: Mortgage deleveraging yet to end By Jon Prior • March 19, 2012 • 11:01am Households shed mortgage debt each month for more than one year now, but the deleveraging has yet to end, according to Fannie Mae Chief Economist Doug Duncan. Either through payoffs or foreclosure, total U.S. mortgage debt dropped [Read More...]