Irving Housing Blog
Bank of America to Increase Foreclosure Rate by 600% in 2010
Bank of America made headlines with its principal forgiveness program. The real news is that they are preparing to blast debtors out of their bunkers of entitlement...

I attended a local Building Industry Association conference on Friday 26 March 2010. The west coast ( Read more... )

There are two classic examples most often given for rapid-succession recessions:
1. The Double Dip Recessions of the early 1980s, and
2. The Double Dip Recessions of the 1930s

In both of those cases, the causes are attributed to intentional economic policy tightening: Both of the early 80s recessions were the result of the ongoing WIN (Whip ( Read more... )

Housing Wire:
Amherst Projects 'Awful' Option ARM Performance

Wednesday, January 13th, 2010, 5:21 am
Defaults among pay-option adjustable-rate mortgages (ARMs) will continue to rise, especially as payment shocks still loom for loans set to recast in coming months [pictured below], but pricing of securities already reflects “simply awful” ( Read more... )

Eschaton brings us the new wave. Looks like we are right now in the very lowest point of the trough, with a wave of potential foreclosures looming right before us.

I mean, freakin' hell, people, an over 80% increase in mortgage payments by mid '11?

( Read more... )

H/T: Calculated Risk

We easily have another 12 to 18 months of pretty ugly times in
terms of mortgage resetting... [and then, next up] credit cards...

A few days ago I revisited the ARM adjustment schedule from Credit Suisse that keeps circulating. The chart points out that ARMs will be surging into adjustment once more and it will continue for the next 3 years (until Jan 2012) at roughly the same rate as that which caused the collapse in 2008. Initial analysis by real estate gurus is that the ( Read more... )