Negative equity and foreclosure
When does strategic default make sense for a negative equity homeowner?
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Tag: strategic default
The “jingle mail” strategy
New homeowners relish the moment they accept the keys to their new home — so why are more and more of them considering returning the keys?
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Are underwater homes here to stay?
Homeowners with negative equity still make up as much as 20% of all homeowners in some parts of California.
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Mortgage default usually the last resort, new study claims
Contrary to assumptions, strategic default is rare. In most cases struggling homeowners with limited ability to pay by and large continue to make payments on their mortgage, regardless of underwater status.
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California law and the MFDRA extension: Who escapes taxable income?
The Mortgage Forgiveness Debt Relief Act (MFDRA) is due for another extension, or its expiration will mean significant taxable income for homeowners nationally. California tax law may save the day.
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The FHA and deficiency judgments in California
The FHA has not exercised its right to collect on a deficiency in California in over 20 years.
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FARM: Strategic default on your vacation home
Think twice before walking away from your vacation property.
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Jobs – not home prices – heal the real estate market
Both the number of California notices of default (NODs) and foreclosure sales were lower in the fourth quarter (Q4) of 2012 than at any time since 2006. This leads experts to conclude…
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Will foreclosed homeowners and short sellers return to homeownership?
This article reviews findings which show credit recovery plays a pivotal role in whether foreclosed homeowners return to homeownership.
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In principle, Frannie can’t cram either
Did the Federal Housing Finance Agency (FHFA) make the right decision by banning cramdowns? No...
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Bankers, their crystal balls, future mortgage volume
What is your source for housing market forecasts? I formulate my own predictions. (34%, 18 Votes)...
Read MoreThe homeowner debt debate
Nobody understands debt, according to Nobel Prize-winning economist Paul Krugman. What he means specifically is that Congress, the media and the American people do not understand the distinction between public debt and private...
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The morality of strategic default: businesses vs. homeowners
This article discusses the purported moral implications of a homeowner’s decision to strategically default and why no such implications exist for a strategically defaulting business.
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The FICO farce
The underlying cause of stunted home sales volume and sticky pricing may be the epidemic of...
Read MoreThe votes are in: Americans are not moving because of negative equity
Readers weigh in on topics affecting the California real estate industry.
Read MoreCalHFA halts foreclosures on calls triggered by due-on clauses
The California Housing Finance Agency (CalHFA), a very small player in the California mortgage market, has temporarily halted foreclosures on homeowners who were current on their CalHFA purchase-assist mortgages but rented their...
Read MoreWhy Boomers will still retire after the boom
This article argues that the diminished housing wealth of the Baby Boomer generation will not forestall their retirement-induced migration, and clarifies the nuances in the debate over Baby Boomer behavior in today’s real estate marketplace.
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An FHA recipe for disaster
Congress has raised the jumbo limit for Federal Housing Administration (FHA) loans back to...
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Americans imprisoned in their homes
Does negative equity keep an underwater homeowner from moving? Yes. Negative equity locks in an...
Read MoreHARP 2.0: bringing band-aids to a war zone
This article examines the recent revisions made to the Administration’s Home Affordable Refinance Program (HARP) and analyzes its actual effect on the real estate market.
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