Vacant | FORECLOSURE FRAUD | by DinSFLA

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250 party at Bank of America bank’s vacant house in Bradenton, FL

250 party at Bank of America bank’s vacant house in Bradenton, FL


Bradenton Herald-

Deputies had to clear out a crowd of at least 250 partiers from a vacant house owned by Bank of America early Sunday.

The loudness of the party, which caused a neighbor to call the Manatee County Sheriff’s Office, was held in the 4400 block of Sanibel Way in Bradenton, according to a sheriff’s office report.

The people who lived in the house just before it became vacant moved out a few days ago, but told friends they were going to throw one last party, the report stated.

image: jacbeauty
© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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New foreclosure registry approved in Palm Beach County

New foreclosure registry approved in Palm Beach County


Someone said it best,

We need to have a law and registry that provides the home addresses, home and cell phone numbers of ALL affiants and robo-signers so we can locate and depose them!?

WPTV-5

WEST PALM BEACH, Fla. – A growing list of foreclosure filings and not enough to staff to handle the problem in Palm Beach County.

The bursting housing market bubble created that double whammy in Palm Beach County.

Now, county leaders have approved a new registry to smooth things out.

In hopes foreclosed homes won’t be abandoned, the new registry banks would inspect foreclosed properties and give property manager names to county code enforcement.

[WPTV-5]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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N.J. judge allows 4 major banks to resume uncontested foreclosure proceedings

N.J. judge allows 4 major banks to resume uncontested foreclosure proceedings


If New Jersey has no clue to what a third world country looks like… it better brace itself because neighborhoods are going to be eyesores. Just imagine who’s taking care of the nearly 20% of Florida homes that are vacant?

This country is being run down the ground. Then again all they have to do is bulldoze!

NJ-

A New Jersey judge has ruled that four major banks can resume uncontested foreclosure actions in the state under court monitoring.

Bank of America, Citibank, JP Morgan and Wells Fargo were among six large lenders targeted by New Jersey’s Supreme Court last December.

[NJ.com]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Nearly 20% of Florida homes are vacant

Nearly 20% of Florida homes are vacant


By Les Christie, staff writer

NEW YORK (CNNMoney) — It’s not always easy to feel sorry for sunny Florida. But they just got hit with another blow.

On Thursday, the Census Bureau revealed that 18% — or 1.6 million — of the Sunshine State’s homes are sitting vacant. That’s a rise of more than 63% over the past 10 years.

Having this amount of oversupply on the market will keep home prices depressed and slow any recovery.

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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U.S. Home Prices Face 3-Year Drop as Inventory Surge Looms

U.S. Home Prices Face 3-Year Drop as Inventory Surge Looms


I have the perfect solution…Why not give the current homeowner a “short sale” price modification and call it a happy ending to all? Buyers are too wise nowadays.

Besides most future homeowners will have a defective title or will have an F in the past!

Here’s an example why it makes sense to work with the current owner:

LPS using their MN address purchased my home at auction for 75% discount put it on the market for about 80% and made a few grand from the highest contract that was accepted. It benefited no one!

Now if they use my solution not only will the investors save on the fees they payout to the foreclosure mills but also on the late fees the homeowner accrues…see isn’t this economic sense for everyone?

By John Gittelsohn and Kathleen M. Howley – Sep 15, 2010 12:14 PM ET

The slide in U.S. home prices may have another three years to go as sellers add as many as 12 million more properties to the market.

Shadow inventory — the supply of homes in default or foreclosure that may be offered for sale — is preventing prices from bottoming after a 28 percent plunge from 2006, according to analysts from Moody’s Analytics Inc., Fannie Mae, Morgan Stanley and Barclays Plc. Those properties are in addition to houses that are vacant or that may soon be put on the market by owners.

“Whether it’s the sidelined, shadow or current inventory, the issue is there’s more supply than demand,” said Oliver Chang, a U.S. housing strategist with Morgan Stanley in San Francisco. “Once you reach a bottom, it will take three or four years for prices to begin to rise 1 or 2 percent a year.”

Rising supply threatens to undermine government efforts to boost the housing market as homebuyers wait for better deals. Further price declines are necessary for a sustainable rebound as a stimulus-driven recovery falters, said Joshua Shapiro, chief U.S. economist of Maria Fiorini Ramirez Inc., a New York economic forecasting firm.

Sales of new and existing homes fell to the lowest levels on record in July as a federal tax credit for buyers expired and U.S. unemployment remained near a 26-year high. The median price of a previously owned home in the month was $182,600, about the level it was in 2003, the National Association of Realtors said.

Fannie Mae Forecast

Fannie Mae, the largest U.S. mortgage finance company, today lowered its forecast for home sales this year, projecting a 7 percent decline from 2009. A drop in demand after the April 30 tax credit expiration “suggests weakening home prices” in the third quarter, according to the report.

There were 4 million homes listed with brokers for sale as of July. It would take a record 12.5 months for those properties to be sold at that month’s sales pace, according to the Chicago- based Realtors group.

“The best thing that could happen is for prices to get to a level that clears the market,” said Shapiro, who predicts prices may fall another 10 percent to 15 percent. “Right now, buyers know it hasn’t hit bottom, so they’re sitting on the sidelines.”

About 2 million houses will be seized by lenders by the end of next year, according to Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania. He estimates prices will drop 5 percent by 2013.

‘Lost Decade’

After reaching bottom, prices will gain at the historic annual pace of 3 percent, requiring more than 10 years to return to their peak, he said.

“A long if not lost decade,” Zandi said.

Continue reading….BLOOMBERG

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© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in bloomberg, chain in title, conspiracy, CONTROL FRAUD, fannie mae, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, mbs, mortgage, repossession, rmbs, shadow foreclosuresComments (1)

Federal money to knock down 450 blighted properties in 45 days: MICHIGAN

Federal money to knock down 450 blighted properties in 45 days: MICHIGAN


You mean to tell me you cannot place homeless families in these?? Lets get Habitat for Humanity in here…this doesn’t smell right!

Clergy, Wayne County Partner To Demolish Homes

Sarah Cwiek (2010-05-11)
One of the homes targeted for demolition in Detroit Sarah Cwiek/Michigan Radio

DETROIT, MI (MICHIGAN RADIO) – Wayne County and some of Detroit’s biggest religious institutions are partnering in a push to demolish vacant homes.

The plan is to use more than $4 million in Federal money to knock down 450 blighted properties in 45 days.

12 clergy members worked with the County to identify “target areas” for demolition near their churches. A number of the leaders plan to use that land to develop housing projects.

Bishop Edgar Vann of Second Ebenezer Church says that’s appropriate because churches are rooted in the community.

“You don’t see other developers coming in here to in any great numbers to try to develop communities,” Vann says. “We’re the ones, along with the partnerships that we have, who are taking this on because we have the people in our hearts.”

There are an estimated 33,000 vacant homes within the city of Detroit. The city demolished 860 last year.
© Copyright 2010, Michigan Radio

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