Tag Archives: Property/Assets/Rights

Foreclosure Laws and Procedures By State

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“Compare all state foreclosure timelines on this simple one-page chart and click on any state name to read about detailed foreclosure procedures for that state.  Before continuing, please note that if you’re currently facing or potentially facing foreclosure, you probably have a handful of foreclosure questions. We have a Frequently Asked Questions section that can help.”

http://www.realtytrac.com/foreclosure-laws/foreclosure-laws-comparison.asp

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Shiller: Housing Market May Have Further to Drop

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“‘The housing market has been declining for something like six years now, it could go on, that’s my worry,’ Shiller said in Davos, Switzerland. ‘The short-term indicators are up now, it definitely looks better, but we saw that in 2009.’  ‘It’s a good housing market in the sense that mortgage rates are very low and prices have come down to normal levels, so yes, it’s a good time to buy if nothing bad happens,’ Shiller said.  ‘But it’s also a very bad housing market in that most of the mortgages are being supported by the government, and we have the Fed and this buying program. It’s a very abnormal market. There’s a lot of uncertainty going forward.'”

http://www.bloomberg.com/news/2013-01-24/shiller-says-u-s-housing-market-decline-may-persist-correct-.html

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Lenders will target near-equity squatters for future foreclosures

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“Banks are letting delinquent borrowers squat rather than foreclosing on them and booting them out. At first, it was a self-preservation measure by the banks taken out of desperation when the first wave of foreclosures caused prices to crash. However, now the banks are content to allow squatting, even for years, because squatters do not become MLS supply weighing down prices. The houses occupied by squatters are effectively removed from the market creating an artificial shortage. The lack of MLS homes for sale and high affordability is causing prices to rise, and as prices go up, banks have collateral backing on their bad loans.”

http://ochousingnews.com/news/lenders-will-target-near-equity-squatters-for-future-foreclosures

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Squatting in style: 23-year-old occupies empty $2.5 million Boca home

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“The 23-year-old has moved into an empty $2.5 million mansion in a posh Boca Raton neighborhood, using an obscure Florida real estate law to stake his claim on the foreclosed waterside property.  The police can’t move him. No one saw him breaking into the 5-bedroom house, so it’s a civil matter. And representatives for the real owner, Bank of America, said they are aware of the situation and are following a legal process. Sunrise real estate lawyer Gary Singer said Barbosa is invoking a state law called ‘adverse possession,’ which allows someone to move into a property and claim the title — if they can stay there seven years.”

http://www.orlandosentinel.com/fl-boca-squatting-in-style-20130122,0,839442,full.story

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California Man Pays Off $13,000 Property Tax Bill in Coins, Dollar Bills

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“A California man who failed to pay his property taxes for over five years has finally come up with the money — but he made local tax office workers count nearly $15,000 worth of change and dollar bills.  Larry Gasper of Redding, Calif. brought in a wheelbarrow and two buckets worth of coins and cash to the Shasta County Tax Collector’s Office on Wednesday afternoon. Gasper rolled and collected the coins and bills until he had enough to clear his debt.  If Gasper had not paid the bill, his property would have been auctioned off next month.  He said he lost his tree business a couple of years ago.”

http://abcnews.go.com/blogs/headlines/2013/01/california-man-pays-off-13000-property-tax-bill-in-coins-dollar-bills/

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Why Your Town Is Going Broke

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“Cook County’s Treasurer has created a website where citizens can find out how far in the hole their governments are. They are all so far in debt that future taxpayers will lose their homes, she says:  ‘In May, 2012, the collective debt reported by the local primary taxing agencies in Cook County was more than $140 billion! To put that in context, the total debt-per-household in the City of Chicago was $87,720, and $35,774 in the suburbs. Homeowners might be able to give their homes to their children, but that future generation won’t be able to afford to keep them because of the property taxes, which have doubled over a 10-year period.'”

http://teapartyeconomist.com/2013/01/30/why-your-town-is-going-broke/

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Silicon Valley House Sells for $117.5 Million

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“An estate has sold in the wealthy northern California community of Woodside for $117.5 million, making it one of the highest-priced residential sales ever in the U.S. Public records show the house is 8,930 square feet and is located at 360 Mountain Road, Woodside CA, next door to the Steve Jobs house at 370 Mountain Road. Bottom line: Bernanke money is flooding Silicon Valley. The sale comes as Silicon Valley luxury home sales surged 54 percent in December, according to residential brokerage Coldwell Banker Wendy McPherson, quoted by the San Jose Mercury News.”

http://www.economicpolicyjournal.com/2013/01/silicon-valley-house-sells-for-1175.html

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Home Prices Continue to Soar; Best Gains Since 2006

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EPJ13

“Data through November 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed home prices rose 4.5% for the 10-City Composite and 5.5% for the 20-City Composite in the 12 months ending in November 2012.  It was the strongest year-over-year price increase since August 2006. The Southwest – Las Vegas and Phoenix – are staging a strong comeback with the Southeast — Miami and Tampa close behind.  The sunbelt, which bore the brunt of the housing collapse, is back in a leadership position.  California is also doing well while the northeast and industrial Midwest is lagging somewhat.”

http://www.economicpolicyjournal.com/2013/01/home-prices-continue-to-soar-best-gains.html

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Owner wins court battle against feds trying to seize his Tewksbury motel

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“Caswell has been battling the government since September 2009 to save the motel his father built in 1955. The government sought to seize the motel using a civil asset forfeiture law that allows the government to seize property linked to drug crimes.  The government introduced information about 15 specific drug-related incidents at the motel from 1994 to 2008, a period of time, the judge noted, when the motel had rented out 196,000 rooms. But Caswell has never been charged with — or even accused of — any criminal wrongdoing, the Globe reported in November.”

http://www.boston.com/metrodesk/2013/01/24/owner-wins-court-battle-against-feds-trying-seize-his-motel/E6rc64A4bEtLY0m1v1f7lM/story.html

 

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“FEMA Won’t Let Us Rebuild Our Home”

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“FEMA Won’t Let Us Rebuild Our Home”

“The Taylor family lives in the Natomas community in Sacramento, California. On August 24, 2012, Brad and Jennifer were driving home with their two young children when they saw smoke in their neighborhood. As they got closer to home, they realized that their house was on fire.  Though shaken, both Brad and Jennifer were relieved that no one had been hurt. ‘It’s just a fire,’ Brad said. ‘It can all be replaced.’  Little did they know that, thanks to regulations created by the Federal Emergency Managment Agency in the wake of Hurricane Katrina — which hit land thousands of miles away from Sacramento — their rebuilding nightmare was just beginning.”

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