Bay Area Real Estate Trends

An associate of mine directed my attention to Bella Homes LLC, which markets itself as a way to save homeowners from foreclosure. I took a look at their proposal and did some research. Here is what I have learned so far… About Bella Homes Bella Homes, LLC is a Multi-Level-Marketing (MLM) company that makes money [...]

Quick, let’s scrape together a couple billion so we can benefit from this… From FHFA: Washington, DC – The Federal Housing Finance Agency (FHFA) today announced the first step of a Real-Estate Owned (REO) Initiative targeted to hardest-hit metropolitan areas announced in August 2011. Investors interested in participating may “pre-qualify” to establish eligibility to bid on transactions [...]

Via The Street: Analysts reacting to the announcement are also calling the plan “dead on arrival.” FBR Capital analyst Edward Mills said in a note Wednesday morning that the plan was unlikely to get congressional approval, “as Congressional Republicans are opposed to additional intervention in the mortgage market and are philosophically opposed to a bank [...]

Dear Edward DeMarco, Your position regarding principal reduction for underwater mortgages illustrates just how unfit you are to be running the FHFA. You argue against principal reductions, because it might cost “marginally” more than principal forbearance, yet you completely ignore all of the data suggesting that negative equity leads to strategic defaults and a potential [...]

Outrage of The Day… via Obama to Use Pension Funds of Ordinary Americans to Pay for Bank Mortgage “Settlement” « naked capitalism. Obama’s latest housing market chicanery should come as no surprise. As we discuss below, he will use the State of the Union address to announce a mortgage “settlement” by Federal regulators, and at [...]

In The Government’s Plan to Sell Foreclosures in Bulk is a Terrible Idea, I argued that giving bulk discounts to hedge is a travesty of justice: This is an absolute travesty. Does anyone really doubt that this entire plan was drafted by lobbyist of the big institutions who would profit the most from this? And that those institutions [...]