Monthly Archives: January 2011

Asheville Foreclosure Increase is First Nationally

The Asheville, NC metro area has made news in a less than desirable way…the area’s 229% increase in foreclosures from 2009 to 2010 was the biggest increase in the United States.  Ouch! According to RealtyTrac, the 4-county area saw 1,496 foreclosure filings in 2010, for a ranking of 175 out of 205 metro areas studied […]

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RealtyTrac Releases 2010 Metropolitan Foreclosure Market Report

RealtyTrac released its annual year-end foreclosure report, and there was a mix of positive and negative news.  In 149 of the country’s 206 major metropolitan markets (areas with population of 200k or more), foreclosure activity was up compared with 2009.  However, the 10 highest foreclosure areas all reported a decrease in foreclosure activity from 2009.  […]

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North Carolina Foreclosure Rescue Scam Shut Down

North Carolina Attorney General Roy Cooper’s office has shut down a foreclosure rescue firm that actually tried to change its name to avoid prosecution by the state.  Wow, did this guy really think he would get away with it? North Carolina law prohibits charging fees up front for loan modifications or foreclosure assistance, which is […]

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Short Sales 101 for Sellers and Listing Agents

I recently came across an article by Jeffery Watson, an attorney in Ohio.  It is, bar none, the best synopsis I have found discussing the challenges and options facing sellers in pre-foreclosure and their real estate agents.  If you know me or read this website on occasion, you know that I am always pointing to […]

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BofA Settles with Fannie & Freddie, but Troubles Remain

Bank of America continues to dominate the headlines, this time due to a $2.8 billion settlement with Fannie Mae and Freddie Mac.  According to Reuters, the mortgage finance companies had claimed that BofA sold them bad home loans.  Well, duh! The article goes on to quote Alan Villalon, senior bank analyst at Nuveen Investments (Chicago): […]

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Wikileaks to Target Bank of America?

(This article was updated on Jan. 31, 2011) Well, it’s the new year, and we’ve already got another story of a major bank being caught with its pants down…potentially.  According to Reuters, Wikileaks founder Julian Assange previously said he had intended to “take down” a major U.S. bank and reveal an “ecosystem of corruption” from […]

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