There’s an article today in USA Today about foreclosures and the mental health impacts foreclosure can have on the homeowners involved. The piece takes more of a personal approach rather than hard numbers and statistics, which is to be expected from USA Today, but it does provide a little reminder for those working in [...]

Comps, or comparable sales, are the most accurate indicator of a residential property’s market value.  Similar homes with a similar square footage that have recently sold will show you a price that buyers are willing to pay in your market.  Some adjustments need to be made for individual property condition and amenities that one home [...]

The IRS has provisions for excluding income from the discharge of debt. The IRS also attempts to explain what can be excluded:
Questions and Answers on Home Foreclosure and Debt Cancellation
The link is provided for informational purposes, I’m not going to interpret it.

According to Fox news
Michael Jackson’s Neverland ranch is still scheduled for foreclosure auction although the auction was postponed from it’s earlier date.  Frankly, I thought this had already happened a long time ago and was kind of surprised to see it back in the news.  Does anybody really care anymore?

Washington Post has an article about a coalition attempting to persuade Americans to increase their savings rate and reduce their dependency on debt.  Good luck with that.
Television, which is a major source of entertainment for many Americans, is a continuous stream of images and advertisements based on consumption.  I can’t really imagine new shows being [...]

“A dozen protesters walked into a downtown bank branch at noon Thursday to demand greater action in relieving the county’s housing foreclosure crisis.” from The Sun
Now I mostly use a bank branch located in a grocery store, so there’s only a counter and not much floor space and my first mental image of a dozen [...]

The House passed a bill sponsored by Maxine Waters of California that will provide 15 Billion dollars to individual states for the purchase, rehab and resale of foreclosed homes. It appears this is an attempt to avoid blight in areas with high numbers of foreclosures. There’s a story if you want to read [...]

After reading yet another politician’s proposed solution to foreclosure problems and shaking my head at the stupidity of it all, I decided yield spread premiums need some explanation. YSPs are often trumpeted in the news as this huge secretive lending method of raking thousands of dollars from unsuspecting borrowers. YSPs can be used [...]

There’s been very significant amount of news reports over the past few months regarding various branches of the U.S. government and their attempts to solve the foreclosure crisis through the use of government sponsored foreclosure bailouts. Some of these bailouts are for the lenders involved, think Bear Stearns, and many new proposals are designed [...]

L.A. Times Article
David Petrovich, who has participated on our discussion board and countless other foreclosure forums for many years had a nice write up in the L.A. Times regarding Dave’s new book “Fight Foreclosure!”. Follow the link to read the story, it reinforces what we’ve all known for years, that Dave really knows his [...]