In this report you will see facts, based on the available data, that you will not find anywhere else. Vast majority of economists and statisticians who prepare housing reports are “professionals” that get paid to talk up the game. This is a NO BULL! report. The purpose of this report is to not only present […]

http://www.news-press.com The Southwest Florida News-Press reports on a real estate auction that left owners upset… and still owners:
“One Cape Coral homeowner left an auction sponsored by the Miloff Aubuchon Realty Group Inc. elated her home fetched a $400,000 bid.
Then the bottom fell out.
“The bid came over the Internet. They said there was a computer glitch,” said […]

From the Los Angeles Times: “The number of Californians defaulting on their mortgage loans is rising rapidly, according to figures released Tuesday, providing striking evidence that more people are at risk of losing their homes.
Default notices jumped 145% in the last three months of 2006, accelerating a trend that began in late 2005 as home […]

CNN reports: “Home sales saw the biggest drop in 17 years last year, according to a trade group report on the battered real estate market, but the reading also showed the the decline in home prices may have bottomed out in December.
The National Association of Realtors reported that there was an 8.4 percent drop in […]

Mike Whitney writes in the Dissident Voice: ” The American people appear to be oblivious to the economic hurricane that is expected to touchdown in late 2007. That’s when $1 trillion in ARMs (Adjustable Rate Mortgages) will “reset” triggering a massive increase in foreclosures and plunging the country into a deep recession. If energy costs […]

ContiFinancial … EquiCredit … The Money Store … Southern Pacific Funding. Maybe you’ve never heard of them, but they were the subprime mortgage lending stars of the mid-to-late 1990s.
They specialized in making loans to borrowers with bad credit, little or no down payments, and a host of other problems. Once they made loans, they’d sell […]