Cincinnati to banks: Drop dead

From my Cincinnati peeps…..   Has anyone thought of something similar here: Cincinnati suing banks over empty eyesores

Read the story carefully.  Lots of financial institutions want it both ways.  They essentially want to foreclose on you, but don’t want to file the paperwork to actually make the transaction and then incur the liabilities of . . . → Read More: Cincinnati to Banks: Drop Dead

Bricks, Mortar and Basis Points

One could go back over the whole month and really find a trove of parsable stuff still worth poking at, but best to stick to the present. Recent news is the spate of Downtown buildings that are up for sale or disposal by various means. As always, the real stories go deeper than the . . . → Read More: Bricks, Mortar and Basis Points

Foreclosure Rates Continue Steady Decline

In October the number of U.S. properties for which a foreclosure filing was received declined for the third month sequentially according to a RealtyTrac report released on Wednesday. The report is a further indication that foreclosures are beginning to subside and that the housing sector is stabilizing.

According to the report, total foreclosure filings . . . → Read More: Foreclosure Rates Continue Steady Decline

Why are Banks Still Foreclosing?

Can anyone think of a more value destroying transaction than foreclosing a home in a dead real estate market. There are more than 700 houses in Detroit listed for less than $3000. And there not selling. In this climate banks can’t possibly expect to recover much of anything from a foreclosed. Considering legal costs, . . . → Read More: Why are Banks Still Foreclosing?