Larry Roberts real estate writing blog

Monday, August 18, 2014

OCHN: How changing loss recognition rules could restore lender solvency

Changing the timing of loss recognition for lenders could enable them to process their latent foreclosures, recover their capital, and regain true solvency again.

Why have lenders permitted millions of delinquent borrowers to squat for years? Why haven’t they processed foreclosures in a...
How changing loss recognition rules could restore lender solvency

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Sunday, August 17, 2014

Loan Mod Default: Crooks, thieves, and liars: the nefarious characters of the housing bust

Have you noticed that most of the human interest stories from the housing bubble have no heroes? The housing bust has brought out the worst in mankind. Every party involved seeks to avoid any financial responsibility while simultaneously looking for ways to game the system to their advantage....
Crooks, thieves, and liars: the nefarious characters of the housing bust

USA Housing: Lenders ambush newly solvent borrowers seeking old bad debts

For people who purchased properties in California, a non-recourse state, and never refinanced, lenders cannot come after them seeking to recoup their losses on a foreclosure. For those who live in recourse states, or California loanowners who refinanced, the situation is quite different. Lenders...
Lenders ambush newly solvent borrowers seeking old bad debts

Saturday, August 16, 2014

Ponzi Debt: The deleveraging myth exposed: Generation Ponzi doesn"t pay down debts

When consumers take on debt, eventually it’s paid off. Debt is not an asset people spend their lives accumulating, at least it’s not supposed to be. Paying off debt is a process known as deleveraging. In a growing economy, young people take on debts to buy cars and houses while old...
The deleveraging myth exposed: Generation Ponzi doesn"t pay down debts

OCHN: My 97-year old grandfather receives his WWII medals

Adams WWII veteran receives medals that were lost
Posted: Aug 14, 2014 5:03 PM PDT, By Alyssa Meyer, Multimedia Journalist
ADAMS COUNTY (WAOW) -
An Adams County World War II veteran is about to be reunited with some of his prized possessions.
Roger Roberts of Adams remembers D-Day like it was...
My 97-year old grandfather receives his WWII medals

Friday, August 15, 2014

Debt Default: Is Squatting a Viable Long-Term Solution to Stabilize the Housing Market?

In the housing bubble debate, the bears clearly won the first round. People defaulted, banks foreclosed, and prices crashed just as predicted. However, round two has gone to the bulls. Banks stopped foreclosing, people squatted, interest rates went down, and the few buyers that remained pushed ...
Is Squatting a Viable Long-Term Solution to Stabilize the Housing Market?

OCHN: Will California"s Proposition 8 lead to more foreclosures?

Proposition 13 was passed ostensibly to prevent rising property taxes from forcing people out of their homes. Proposition 8 may do that anyway.

When Proposition 13 was passed, one of the main selling points was to prevent property taxes from rising so people on fixed incomes wouldn’t be...
Will California"s Proposition 8 lead to more foreclosures?

Housing Market: Banks agree to pay a few pennies in guilt money to former loanowners

The housing bubble was inflated by private lenders giving nearly unlimited money to eager borrowers to bid up real estate prices to levels not sustainable by the real incomes of the borrowers. I have pointed out that lenders are more culpable than borrowers, but it took two to tango. Under...
Banks agree to pay a few pennies in guilt money to former loanowners

Thursday, August 14, 2014

Real Estate Loan: Buyers react to rising mortgage rates with long-term rate locks

When interest rates are falling, which they were for most of the last 30 years, borrowers generally let their mortgage rate float until the last minute before committing. In a falling rate environment, there is no urgency to lock an interest rate. However, now that mortgage rates are rising...
Buyers react to rising mortgage rates with long-term rate locks

OCHN: Tepid wage growth and rising prices prices out low-income households

Higher prices and weak wage growth, particularly among lower income Americans, prices out many marginal buyers.

Each prospective buyer investigates current financing terms as part of their process. Lenders apply current underwriting standards and determine the loan balance they will approve and...
Tepid wage growth and rising prices prices out low-income households

Wednesday, August 13, 2014

OCHN: Potential buyers are losing their enthusiasm for housing

With the belief in continued home-price appreciation waning, consumer motivation to buy homes is declining.

During the housing bubble mania, everyone wanted to own a house, mostly to capture the gains of rapid home price appreciation. Nobody believed the value of houses could go down, so there...
Potential buyers are losing their enthusiasm for housing

Tuesday, August 12, 2014

Mortgage Refinance: Second mortgages hold short sellers hostage

Why do short sales take so long? Basically, banks don’t want to take a loss, and short sales cause them to lose money — a lot of money. Short sales come in two basic varieties; properties with second mortgages and properties without. If a property does not have a second mortgage,...
Second mortgages hold short sellers hostage