May 24 2010

Why strategic defaults benefit the dialog on housing. Strategic defaults moving faster than HAMP modifications. The movement for stronger mortgage requirements.

I know many of you have strong opinions regarding strategic defaults.  People have a hard time blending in moral and financial obligations.  It really is a fine balance and public discourse gets muddied with emotional arguments to a somewhat obvious economic issue.  The housing market has not been normal for over a decade.  Even today […]

Mar 13 2010

The Complete Guide to Toxic Mortgages and the Housing Situation of California – Option ARMs, 55 Percent of Jumbo California Loans are ARMs, 794,000 Distressed Properties, and Failed Loan Modifications.

An updated chart highlighting the option ARM and exotic mortgage loans made during the height of the bubble still shows us that many loans will go bad in the next couple of years.  We need to remember that the vast majority of troubled option ARMs were made from 2004 to 2007.  While analysts claim that […]

Dec 11 2009

California Notice of Defaults hit Record in 2009: Approximately 476,000 Notice of Defaults but Foreclosures Fell. HAMP Most Active in California. Approximately 5,900 Permanent HAMP Mods in California.

California is at the center of the foreclosure wave.  Of the 306,000 foreclosure filings in November 23 percent hit in California.  You cannot talk about housing distress without looking at the state of California.  The California housing market will be in a slump for many years and there are a variety of reasons why California […]