jillayne
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Hi Sniglet, For residential homes, most all foreclosed homes will first have a Notice of Trustee Sale filed, and then finally a Trustee's Deed. The NTS just notifies the world (creditors) that the home will be sold at auction in 90 days. Th…
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Hi Mama, Good for you for asking the question and doing your homework. A couple of red flags go up for me. First, it seems extremely unlikely that your broker "just got" approved in your state at the "same time" that you needed a broker in tha…
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Hi LHR, Multiple NTS are not uncommon. A homeowner might receive a Notice of Trustee Sale and then gather the money together to make the loan current and deliver it to the trustee on time to cancel the sale, etc, just like The Tim mentions. Ano…
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REMINDER: We had foreclosure moratoriums out of Fannie, Freddie, and other large lenders through the holidays. I believe F&Fs just expired last week. This would definitely have an effect on the March 2009 numbers. Thanks for doing this grap…
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I have an idea for an interesting trend to track. Alan has given us NTS numbers, JJL has given us Trustees Deed numbers. We have those numbers for now. What I'd like to see is a comparison to 2007. The question I'm asking the data is: What p…
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Hi Sniglet, Yes, there is one other way that a foreclosure could happen without a Notice of Trustee Sale (NTS) being recorded. Lenders have the option of turning a deed of trust into a mortgage instrument in the event the lender chooses to forecl…
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Hi JJL, Alan has been posting the NTS numbers like clockwork each month for the past 6 months or so. I was merely expressing my extreme gratitude for his work as this saves me the time from having to do it myself. I have three classes to prepare…
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Hi Alan, No. Unrelated question: is your wife bisexual?
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With the foreclosure moratorium lifted from Fannie and Freddie, we should see an increase in April as well.
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Alan will you marry me?
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Hi Thomas B. If the consumer complaint or investigation starts out at the state level and the state examiners discover that the fraud crossed state lines, they bow out and give the case to the FBI. When a loan funds, money is transferred from …
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I received a visitor on one of my websites yesterday who pointed out that Vladislav was a student of mine and thought what he said regarding ethics on my blog was interesting. Vladislav's comment is fifth up from the bottom: http://mortgagefiduc…
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Is this the same couple that discharged a second bankruptcy before buying? If so then that would mean higher interest rates but I think Tim found the problem: serial refinancing and extracting more and more equity until there's none left.
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Thanks Tim. I've been busy and haven't been following the political speeches on the market and economy as closely as I'd like to. That's interesting. In one of his earlier speeches, Pres Obama did come right out and say that government can't just …
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I'm actually hearing different things on the street. Since I'm not a licensed agent, I do not have access to the MLS and their stats so my reference point is a sample of real estate agents from mostly King County. Some of these agents work Snoho…
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sniglet you are in good company.
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Thank you Alan. Down from Jan, but Feb was a short month. Now that the Obama administration has put forth a foreclosure rescue plan, it will be interesting to see if NTS filings for March, April, and May continue to rise. I predict....that they w…
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Can't wait to see the NTS for February!
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apparently I'm addicted to econ porn if I read CR. Oh well, whatever, nevermind. At least it's entertaining reading.
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Corporate culture also plays a big part. For example, Sniglet, you mention California cities but right here in Yakima the seller downpayment assistance money laundering schemes were so widely accepted that one group of students (in Yak) said that if…
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Let's talk about insiders for a bit. As an insider, I (and others. I don't claim to be the only one) started talking publicly and writing/publishing articles about the problems with the lack of ethics of loan originators. I also taught classes o…
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Another class today. 40 agents, south end. Had agents from all over King County and even from Olympia. Everyone agreed that conditions are deteriorating rapidly and there's been a notable uptick in the percentage of NEW listings coming on the MLS …
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it's possible that the homeowner has negative equity and is trying to avoid a short sale by pricing it too high. Maybe the second agent is going to kick something back to the homeowner/agent after the close of escrow? Not allowed, but perhaps it …
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Well, I had 55 students in my class today including a handful of higher level real estate brokers and NONE of them believe we're anywhere near the bottom. About five or six, it could have been more, agents said they're starting to see short sales…
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Dang. I missed Muhammad Yunus when he came to the UW too. Oh well. Maybe next time.
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Hi Justin, I've seen cases where a hungry loan originator pumped up the closing costs when they saw a dollar figure in there, when the actual closing costs were much less than the $10,000. Ask the homebuyer's lender to provide a good faith estim…
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Oh the simple joys of reading the comments over at CR. Found a link to this delightful story in the NYT. Anti Love Drug May Be Ticket To Bliss "...This hormonal hypothesis, which is by no means proven fact, would help explain a couple of diff…
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I wonder if this could be GOOD for the housing market, meaning, maybe this will prompt home sellers to finally begin lowering their prices on the eastside.
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Here's a jpeg of the cockmobile for inquiring SB readers http://www.shinyshiny.tv/penis%20car.JPG And the vibrator car http://www.geekologie.com/2007/12/07/future-car-1.jpg
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Hi TJ_98370, Now teaching the mortgage broker ethics class, well that's a completely different story. There is no ethical oversight of mortgage broker conduct. Here's their code. It's a one pager. A fast read: http://www.namb.org/images/nam…