Tuesday, September 7th is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure Posted foreclosures for the Greater Houston Area total 6,689 which is a 43% jump from last month’s 4,478. Galveston County continues to rocket forward with a 53.7% increase over August’s posted foreclosures. Fort Bend County was [...]
MERS – Are 62 Million Homes Legally Foreclosure Proof?
August 22, 2010 By 2 Comments
Yes, you heard it right. The movement against MERS, short for Mortgage Electronic Registration System, Inc., is picking up steam. In case after case, MERS is being more and more closely analyzed as to their role, or their “registration” system’s role in the ongoing foreclosure crisis. MERS related foreclosures may soon grind to a [...]
Flagstar is shutdown by restraining order after breaking promises to homeowner
August 4, 2010 By 3 Comments
The decision makers at Flagstar Bank need a good flogging and they got the first lash on Tuesday, August 3, 2010 when Judge Carolyn E. Baker of the 295th U.S. District Court in Harris County signed a Temporary Restraining Order halting the foreclosure sale of a property in Houston. Like many homeowners, this family suffered [...]
Houston area foreclosure stats for August 2010
July 27, 2010 By Leave a Comment
Tuesday, August 3rd is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure 226 – Brazoria County (Pearland, Alvin, Lake Jackson, etc.) 586 – Fort Bend County (Missouri City, Sugar Land, Richmond, etc.) 244 – Galveston County (Galveston, Clearlake, Texas City, etc.) 3,361 – Harris County (Houston, Pasadena, Baytown, [...]
Houston area foreclosures up 34.6% since 2009
July 19, 2010 By Leave a Comment
Values are still on a roller coaster as the Houston Biz Journal is reporting…In Houston, about 19,137 homes were foreclosed on or in danger of it in the first six months of 2010, a 7.3 percent increase from the previous six months, and a 34.6 percent increase from the first six months of 2009. If [...]
REALTOR faces jail time for bad Short Sale
June 16, 2010 By 3 Comments
Over and over we counsel agents against “gaming” the system to make extra money. In Houston, we are aware of a “Short Sale Specialist” that works both sides of the transaction to make more money. BEWARE!! As an agent you have a fiduciary responsibility to your homeowner/seller. DO NOT try to “flip” the property to [...]
Fannie Mae requiring borrower to be more credit worthy. Say it isn’t so!
May 5, 2010 By Leave a Comment
Citing the need to protect borrowers from mortgage payments that potentially balloon out of control, Fannie Mae is putting forward new standards for the purchase and securitization of adjustable-rate mortgage (ARM) products. Why stop now? You have unlimited U.S. taxpayer money. Everyone NEEDS to have a home. More loans, more loans, more loans. A mortgage [...]
Should I try a short sale, file bankruptcy, or both?
May 4, 2010 By Leave a Comment
This is a common question posed to us. Can I do a short sale AND a bankruptcy. The answer is yes, BUT. Below is a short article by a Boston BK attorney who I think does a decent job of explaining both options. That said, I think that way too often homeowners jump right to the [...]
No Trust in the Trustee – Rigging foreclosure auctions for profit
May 3, 2010 By Leave a Comment
“There is no trust in this business” said the foreclosure trustee. Scary huh? This isn’t some fictional story. This is real life in Harris County, Houston, Texas. Recently, members of our team confronted the Trustee that was about to auction off the homestead of one of our clients. In our hand was the Temporary Restraining [...]
Houston area foreclosure stats for May 2010
May 2, 2010 By Leave a Comment
Tuesday, May 4 is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure 257 – Brazoria County (Pearland, Alvin, Lake Jackson, etc.) 540 – Fort Bend County (Missouri City, Sugar Land, Richmond, etc.) 237 – Galveston County (Galveston, Clearlake, Texas City, etc.) 3,471 – Harris County (Houston, Pasadena, Baytown, [...]
