The Shadow Inventory Myth is Dead

A little over a year ago, I wrote a series of posts in which I argued that “shadow inventory” (foreclosed homes held off the market by the banks) was nearly non-existent. "Shadow Inventory" Conspiracy Theories Are Nonsense Shadow Inventory Gut Feelings, Rumors, & Anecdotes Undocumented Shadow Inventory Scarce in King County Despite all of the […]

Have You Faced Deficiency Judgment?

Have you faced a deficiency judgement on a home you lost to foreclosure? A global cable TV network is looking for Seattle-area borrowers who have been through the process of a deficiency judgment for a story they’re working on. If that’s you and you’re willing to talk about it for a television business show, contact […]

Undocumented Shadow Inventory Scarce in King County

Don’t worry: This will be my last post about the shadow inventory issue for quite some time. In last Friday’s post about shadow inventory, “Haybaler” shared a great link in which Calculated Risk reported LPS delinquency data for September. This data addresses the main complaint some of you have raised about my previous analysis of […]

Shadow Inventory Gut Feelings, Rumors, & Anecdotes

A number of you took issue with my data-backed claim that foreclosures are proceeding in a normal, orderly fashion and shadow inventory is a non-issue in the Seattle area. Your main objection seems to be based on a belief that there are large numbers of homes with mortgages that the borrower has stopped paying months […]

“Shadow Inventory” Conspiracy Theories Are Nonsense

For some reason, a couple weeks ago the Seattle Times website featured a syndicated article about RealtyTrac’s “Vampire REO” nonsense, which in addition to being a completely worthless bit of non-news, was already weeks old when it appeared on the front page of the Seattle Times website. In the comments to the article I did […]

Can Banks Seek Deficiency Judgment in Washington State?

Over the weekend the Washington Post published a story about former homeowners who find themselves owing money on a home they lost to foreclosure years earlier: Lenders seek court actions against homeowners years after foreclosure. It’s a process called “deficiency judgment,” and it’s not really news to anyone who has paid attention to housing over […]

$75K Home Was Mortgaged for Nearly Half a Million in 2007

I like to keep tabs on what’s going on in my neighborhood, and when a little house a block away was listed for rent on Craigslist (screenshot) this week, I remembered seeing it as a foreclosure on the market for sale last year. I got a little curious to know some more about this home’s […]