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…
Tag: banks
$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…
Washington State Supreme Court: MERS May Not Foreclose Unless They Hold the Note
Jillayne pointed me toward an interesting Washington State Supreme Court ruling that was just filed today. It seems that according to the Supreme Court, Mortgage Electronic Registration System Inc. (MERS)—the popular service used by many banks to consolodate their mortgage filings—doesn’t have the standing to proceed with foreclosures in Washington unless they actually hold the…
Federal Government Sells Over 1 in 4 Seattle-Area REOs
Full disclosure: The Tim is employed by Redfin. We’ve been digging into a lot of different data at Redfin lately, and I found this particular set to be quite interesting. What I’ve done here is take all the bank-owned (REO) sales over 2011 and group them by the bank that was selling the home. The…
Conforming Loan Limit Changes to Hit Eastside Hardest
Full disclosure: The Tim is employed by Redfin. Yesterday over on the Redfin blog, I dug a little deeper into the conforming loan limit changes, pulling detailed sales data from all around the country by zip code to see which areas would be most affected by the change. The result was another Google FusionTables zip…