Not by a long shot! Although foreclosure activity has fallen all over the country it’s due to a glut of paperwork problems rather than any kind of improvement in the housing market.

Foreclosure activity has slowed due to scrutiny since last fall when banks had to do damage control over robo-signing scandals. Robo-signing involved allegations that employees were accused of signing legal documents without even a cursory review.

Home prices also continue to…

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Using data that tracks home prices through April of 2011, Case-Shiller, reported a slight bump in home values. However, hold off on popping the cork on the champagne. It’s far too early to tell if this reflects a sea change in the housing market or is simply a reflection of the spring/summer buying season.

According to Robert Shiller, an economics professor at Yale University and co-creator of Case-Shiller home price index, he has a “tinge of optimism” but doesn’t believe the crisis is… Continue

Bank of America, J.P. Morgan Chase and Wells Fargo have failed to live up to performance guidelines under HAMP and will be barred from receiving federal financial incentives until they improve.

Closing the coffers to the nation’s largest mortgage servicers is the government’s remedy for big bank’s failure to help struggling homeowners modify their loans. HAMP (Home Affordable Modification Plan) has long been criticized as inept and ineffective but the real problem may be that the program… Continue

Investors often tell me that they own a home, tenants left or are not paying their rent, and the property is not cash flowing (mortgage is more than the rental income). What is an investor to do? Most tell me that they have put in too much money to let the house go via short sale or foreclosure. Without knowing the actual financials of a situation, it is worth considering whether the time value of money makes a short sale a better option than holding on until the market recovers. To illustrate,… Continue