foreclosure

‘s Effect On Home Prices?

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Home sale numbers are still weak, but there is a silver lining to this cloud.  Shadow inventory (the number of foreclosed, bank owned homes not on the market) is finally showing some signs of stabilizing.  According to the most recent report from CoreLogic, shadow inventory in January is about the same (1.6 million homes) as it was in October of 2011.  This is a 200,000 unit decrease from a year ago. “Almost half of the shadow inventory is not yet in the foreclosure process,” said Mark Fleming, chief economist for CoreLogic. “Shadow inventory also remains concentrated in states impacted by sharp … Read more

” HUD secretary says – latimes.com

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Foreclosure settlement to come in a ‘matter of weeks,’ HUD secretary says Buy long dated calls (Leaps) in Wells Fargo.  Expectations are very low.  Insider buying, housing near bottom (mortgage prices near rent equivalent), and this headline make for very compelling upside. June 2, 2011 | 4:49 pm A settlement between a coalition of federal and state agencies and banks over foreclosure practices will come in a “matter of weeks,” Shaun Donovan, secretary of Housing and Urban Development, told the Los Angeles Times. Donovan.Donovan Donovan’s agency is involved in the negotiations with the banks, along with attorneys general from all … Read more