Sacramento area officials explore using eminent domain to aid underwater homeowners - Real Estate - The Sacramento Bee: Sacramento and Elk Grove officials are exploring a controversial plan to use their powers of eminent domain to seize underwater mortgages from private investors and slash the amounts borrowers owe.
The proposal, pushed by a San Francisco-based group of financiers called Mortgage Resolution Partners, is meant to alleviate the drag on local economies of thousands of homes worth far less than buyers paid. It's also meant to turn a handsome profit for investors who would advance the vast sums needed to buy the mortgages.
The proposal has infuriated opponents in the mortgage industry. They call it an illegal use of eminent domain, a power that gives government the right to seize property for the public good while paying just compensation.
---------------
More California municipalities ponder cramdown by condemnation.
Saturday, August 11, 2012
Friday, August 10, 2012
HOA Hall of shame president facing state charges - www.ktnv.com
HOA Hall of shame president facing state charges - www.ktnv.com:
Now, the state has formally accused Joe Bitsky and his wife, Barbara, of "failing to act in the best interests of the association for reasons of self-interest, gain and revenge." Bitsky himself is accused of "incompetence and intentional wrongdoing." And both are charged with "willful and intentional misuse of association money."
-------------------
Thanks to Rodney Gray for this link. This situation has been simmering for a long time.
Now, the state has formally accused Joe Bitsky and his wife, Barbara, of "failing to act in the best interests of the association for reasons of self-interest, gain and revenge." Bitsky himself is accused of "incompetence and intentional wrongdoing." And both are charged with "willful and intentional misuse of association money."
-------------------
Thanks to Rodney Gray for this link. This situation has been simmering for a long time.
Wednesday, August 08, 2012
State Senator Mike Bennett meets with frustrated Willowbrook homeowners | wtsp.com
State Senator Mike Bennett meets with frustrated Willowbrook homeowners | wtsp.com: LAKEWOOD RANCH, Florida -- Dozens of homeowners in a Lakewood Ranch community met with State Senator Mike Bennett Wednesday night to talk about the issues they've had with the construction of their homes.
Residents in the Willowbrook subdivision said they are dealing with shoddy construction and blame the builder, KB Home. According to homeowners, for years they've struggled with mold, gaping holes, and rotted wood. Some have not had any work done. Of those who have had work done, many say the problems still exist. Manatee County has posted "potential hazard" signs on a number of units in the subdivision.
Over the weekend, homeowners mailed letters to KB Home and also to lawmakers. The meeting was a result of that, with Senator Bennett receiving about 20 to 30 letters.
--------------
Yet another condo project that gets along with water about as well as Preparation H with hemorrhoids.
Residents in the Willowbrook subdivision said they are dealing with shoddy construction and blame the builder, KB Home. According to homeowners, for years they've struggled with mold, gaping holes, and rotted wood. Some have not had any work done. Of those who have had work done, many say the problems still exist. Manatee County has posted "potential hazard" signs on a number of units in the subdivision.
Over the weekend, homeowners mailed letters to KB Home and also to lawmakers. The meeting was a result of that, with Senator Bennett receiving about 20 to 30 letters.
--------------
Yet another condo project that gets along with water about as well as Preparation H with hemorrhoids.
Tuesday, August 07, 2012
Owner of First National Center in Oklahoma City pleads guilty to embezzlement, faces up to 10-year prison sentence | NewsOK.com
Owner of First National Center in Oklahoma City pleads guilty to embezzlement, faces up to 10-year prison sentence | NewsOK.com
Aaron Yashouafar, owner of Oklahoma City's landmark First National Center, will have to pay $1 million to tenants of a Nevada condominium complex and faces up to 10 years in prison after pleading guilty to one felony count of embezzlement. The plea comes as Yashouafar faces an Aug. 17 “final” deadline to pay $12 million to Capmark Group to retain control of First National Center, and follows a string of foreclosures, bankruptcies and controversies involving properties owned by his investment groups.
--------------------
Thanks to Rodney Gray for this link.
Aaron Yashouafar, owner of Oklahoma City's landmark First National Center, will have to pay $1 million to tenants of a Nevada condominium complex and faces up to 10 years in prison after pleading guilty to one felony count of embezzlement. The plea comes as Yashouafar faces an Aug. 17 “final” deadline to pay $12 million to Capmark Group to retain control of First National Center, and follows a string of foreclosures, bankruptcies and controversies involving properties owned by his investment groups.
--------------------
Thanks to Rodney Gray for this link.
Saturday, August 04, 2012
Immigrants prove big business for prison companies
breaking news - national news - world news - azcentral.com
MIAMI (AP) -- Locking up illegal immigrants has grown profoundly lucrative for the private prisons industry, a reliable pot of revenue that helped keep some of the biggest companies in business. And while nearly half of the 400,000 immigrants held annually are housed in private facilities, the federal government - which spends $2 billion a year on keeping those people in custody - says it isn't necessarily cheaper to outsource the work, a central argument used for privatization in the first place...A decade ago, just 10 percent of the beds in the nation's civil detention system were in private facilities with little federal oversight. Now, about half the beds are part of a sprawling, private system, largely controlled by just three companies: Corrections Corporation of America, The GEO Group, and Management and Training Corp...At the same time, the three businesses have spent at least $45 million combined on campaign donations and lobbyists at the state and federal level in the last decade, the AP found.
------------------------
As I keep saying, it often turns out that privatization is not cheaper than public provision of services. And in the case of prison companies and defense contractors, and HOA/condo service providers, privatization leads to the creation of powerful interest groups that lobby for expansion and deregulation of the privatization programs from which they profit. And the whole privatization effort is supported ideologically by anti-government rhetoric, especially the bogus claim that public sector service provision is inherently inefficient, government employees are lazy and overprivileged, and the so-called private sector is vastly superior in every way, if only it could be completely deregulated. That anybody can still belief this nonsense after deregulation killed the S&L industry in the 1980s and caused the financial sector meltdown of 2008 is a tribute to the power of propaganda.
MIAMI (AP) -- Locking up illegal immigrants has grown profoundly lucrative for the private prisons industry, a reliable pot of revenue that helped keep some of the biggest companies in business. And while nearly half of the 400,000 immigrants held annually are housed in private facilities, the federal government - which spends $2 billion a year on keeping those people in custody - says it isn't necessarily cheaper to outsource the work, a central argument used for privatization in the first place...A decade ago, just 10 percent of the beds in the nation's civil detention system were in private facilities with little federal oversight. Now, about half the beds are part of a sprawling, private system, largely controlled by just three companies: Corrections Corporation of America, The GEO Group, and Management and Training Corp...At the same time, the three businesses have spent at least $45 million combined on campaign donations and lobbyists at the state and federal level in the last decade, the AP found.
------------------------
As I keep saying, it often turns out that privatization is not cheaper than public provision of services. And in the case of prison companies and defense contractors, and HOA/condo service providers, privatization leads to the creation of powerful interest groups that lobby for expansion and deregulation of the privatization programs from which they profit. And the whole privatization effort is supported ideologically by anti-government rhetoric, especially the bogus claim that public sector service provision is inherently inefficient, government employees are lazy and overprivileged, and the so-called private sector is vastly superior in every way, if only it could be completely deregulated. That anybody can still belief this nonsense after deregulation killed the S&L industry in the 1980s and caused the financial sector meltdown of 2008 is a tribute to the power of propaganda.
Manassas Park burdened by debt from housing bust - The Washington Post
Manassas Park burdened by debt from housing bust - The Washington Post
"Over a little more than a decade, the tiny city of Manassas Park — population 15,000 — replaced, refurbished or added onto nearly every public building in its 2.5-square-mile confines. It built a fire station, police station and community center. It expanded all of its schools. And it paid for the nearly $130 million tab with borrowed money. But even before the last brick was laid, the housing market in Manassas Park crashed, sending one in four homeowners into foreclosure and leaving many others underwater on their mortgages. Median home prices tumbled as much as 60 percent. Property tax revenue fell off a cliff. By the time the $20 million community center was finished in 2010, the city was in a position familiar to millions of Americans: digging its way out of debt...Cities across the country are in similar straits, mired in the long tail of a historic housing meltdown and recession. Many will be coping with the financial fallout of the bust for years to come, even as the housing market recovers, said Michael Pagano, a municipal finance expert at the University of Illinois at Chicago."
------------------
And this little Virginia municipality is in big financial trouble. If I understand this correctly, it is sort of in but not part of Prince William County, because it is an "independent city," which is a strange entity of which only 42 exist in the US. All but three are in Virginia. The other three are Baltimore (MD), St. Louis (MO), and Carson City (NV).
"Over a little more than a decade, the tiny city of Manassas Park — population 15,000 — replaced, refurbished or added onto nearly every public building in its 2.5-square-mile confines. It built a fire station, police station and community center. It expanded all of its schools. And it paid for the nearly $130 million tab with borrowed money. But even before the last brick was laid, the housing market in Manassas Park crashed, sending one in four homeowners into foreclosure and leaving many others underwater on their mortgages. Median home prices tumbled as much as 60 percent. Property tax revenue fell off a cliff. By the time the $20 million community center was finished in 2010, the city was in a position familiar to millions of Americans: digging its way out of debt...Cities across the country are in similar straits, mired in the long tail of a historic housing meltdown and recession. Many will be coping with the financial fallout of the bust for years to come, even as the housing market recovers, said Michael Pagano, a municipal finance expert at the University of Illinois at Chicago."
------------------
And this little Virginia municipality is in big financial trouble. If I understand this correctly, it is sort of in but not part of Prince William County, because it is an "independent city," which is a strange entity of which only 42 exist in the US. All but three are in Virginia. The other three are Baltimore (MD), St. Louis (MO), and Carson City (NV).
Friday, August 03, 2012
HOAs file hundreds of foreclosures for unpaid dues
Charleston Regional Business Journal | Charleston, SC
An historical review on HOA foreclosures Charleston County, South Carolina looking back nearly two decades. The bottom graph shows the collateral damage the residential real estate meltdown and subsequent recession had on HOA assessments. And this is just a single county in a single state. Imagine what it would look like if all of Privatopia were included.
An historical review on HOA foreclosures Charleston County, South Carolina looking back nearly two decades. The bottom graph shows the collateral damage the residential real estate meltdown and subsequent recession had on HOA assessments. And this is just a single county in a single state. Imagine what it would look like if all of Privatopia were included.
 |
Homeowners associations in Charleston County have filed hundreds of foreclosures during the past two decades for unpaid dues, meanwhile no government regulates the foreclosure process used by associations. |
Manatee homeowners say their condos are falling apart
Manatee homeowners say their condos are falling apart
MANATEE COUNTY, Fla. - The problems started with a leak inside his new condo. Now Armando Oyola-Delgado lives like he's in a hospital contamination zone.
"It actually is so the mold doesn't cross into here," he said, unzipping a plastic sheet that hangs at the sliding glass doors inside his condo.
But the worst part of it is beyond the curtain on his back deck.
"I went through the floor right there," said Oyola-Delgado pointing upwards where he says he stepped through the ceiling from the 2 nd floor.
-----------------
Why is it that water is to condos like Preparation H to hemorrhoids? I suggest a Nobel prize for whomever designs the water and mold proof condominium.
MANATEE COUNTY, Fla. - The problems started with a leak inside his new condo. Now Armando Oyola-Delgado lives like he's in a hospital contamination zone.
"It actually is so the mold doesn't cross into here," he said, unzipping a plastic sheet that hangs at the sliding glass doors inside his condo.
But the worst part of it is beyond the curtain on his back deck.
"I went through the floor right there," said Oyola-Delgado pointing upwards where he says he stepped through the ceiling from the 2 nd floor.
-----------------
Why is it that water is to condos like Preparation H to hemorrhoids? I suggest a Nobel prize for whomever designs the water and mold proof condominium.
In-Home Child Care Vs. Homeowner's Association
In-Home Child Care Vs. Homeowner's Association
This case is going all the way to the Nebraska Supreme Court.
This case is going all the way to the Nebraska Supreme Court.
Friday, July 27, 2012
Woman fights HOA to keep home after $589K of invalid fines | WCNC.com Charlotte
Woman fights HOA to keep home after $589K of invalid fines | WCNC.com Charlotte: North Carolina is at a tipping point for homeowners associations. The number of homeowners living in neighborhoods governed by HOAs is now greater than those who live outside those neighborhoods. The story of how Wilfong came close to losing her home illustrates why HOA battles have become personal.
It also shows lawmakers have not heard the last of the bitterly divisive issues that pit neighbor against neighbor with attorneys on all sides. Her lawsuit opens a window on HOAs: Quasi-governmental associations that carry the big stick of foreclosure and are drawing scrutiny from state lawmakers.
“They can ruin you,” said Wilfong.
-----------------
Another HOA horror story to help spur yet another round of HOA legislative reform efforts. As Shu Bartholomew says, "And the beat goes on."
It also shows lawmakers have not heard the last of the bitterly divisive issues that pit neighbor against neighbor with attorneys on all sides. Her lawsuit opens a window on HOAs: Quasi-governmental associations that carry the big stick of foreclosure and are drawing scrutiny from state lawmakers.
“They can ruin you,” said Wilfong.
-----------------
Another HOA horror story to help spur yet another round of HOA legislative reform efforts. As Shu Bartholomew says, "And the beat goes on."
From CCHAL: CID promotion and the California foreclosure debacle
This just in from the Center for California Homeowner Association Law--for years I have been posing the question, "What are the long-term consequences to municipalities of promoting CID construction?" This post from Marjorie Murray is suggestive of one possible answer:
-------------------------
Evan:
Realty Trac has posted its report on foreclosure filings (Notices of Default) across the country, and once again California leads the pack.
Note that six of the ten cities/counties with the greatest number of NODs are in the Central Valley, which are now over-run with common interest developments. Why? Because that's where vast tracts of land exist: land formerly dedicated to almonds, cotton, alfalfa and other crops.
Not long ago, the Center for California Homeowner Association Law researched, by county, the number of CIDs built in the Central Valley in the last decade. The growth has been phenomenal.
After approving dozens of huge planned unit developments in the past ten years, Stockton (San Joaquin County) went on a spending spree in anticipation of the tax revenue it believed CIDs would generate" property taxes, sales taxes, state taxes based on population. This was wishful thinking. As readers of your blog know, the City of Stockton just filed for bankruptcy.
I won't enumerate all the public policy issues generated by this growth in the Central Valley, but two of them are worth listing: the demand for water by huge new subdivisions and the substitution of CIDs for agriculture in the California economy. No state agency has examined these key policy issues.
Here's the Huffington Post story on the California foreclosure debacle.
http://www.huffingtonpost.com/2012/07/26/california-foreclosures-c_n_1705934.html?ir=San+Francisco&ref=topbar
Marjorie Murray, President
Center for California Homeowner Association Law
www.calhomelaw.org
3758 Grand Ave., Suite 56
Oakland, California 94610
mmurray@calhomelaw.org
Realty Trac has posted its report on foreclosure filings (Notices of Default) across the country, and once again California leads the pack.
Note that six of the ten cities/counties with the greatest number of NODs are in the Central Valley, which are now over-run with common interest developments. Why? Because that's where vast tracts of land exist: land formerly dedicated to almonds, cotton, alfalfa and other crops.
Not long ago, the Center for California Homeowner Association Law researched, by county, the number of CIDs built in the Central Valley in the last decade. The growth has been phenomenal.
After approving dozens of huge planned unit developments in the past ten years, Stockton (San Joaquin County) went on a spending spree in anticipation of the tax revenue it believed CIDs would generate" property taxes, sales taxes, state taxes based on population. This was wishful thinking. As readers of your blog know, the City of Stockton just filed for bankruptcy.
I won't enumerate all the public policy issues generated by this growth in the Central Valley, but two of them are worth listing: the demand for water by huge new subdivisions and the substitution of CIDs for agriculture in the California economy. No state agency has examined these key policy issues.
Here's the Huffington Post story on the California foreclosure debacle.
http://www.huffingtonpost.com/2012/07/26/california-foreclosures-c_n_1705934.html?ir=San+Francisco&ref=topbar
Marjorie Murray, President
Center for California Homeowner Association Law
www.calhomelaw.org
3758 Grand Ave., Suite 56
Oakland, California 94610
mmurray@calhomelaw.org
Thursday, July 26, 2012
Robert L. Borosage: Mitt Romney: The Gated Candidate
Robert L. Borosage: Mitt Romney: The Gated Candidate
The wealthiest Americans often choose to live in gated communities, designed to shield them from the intrusion of those Ann Romney calls "you people."
Now, Mitt Romney is applying that same notion to his campaign for the presidency. He's offering Americans a gated candidate, with whole areas of his record walled off to keep "you people" from knowing about them.
--------------------
And now Romney is self-immolating in his European tour, having made a complete ass of himself in London. But here at home, in the land of the blind, he is neck and neck with President Obama, thanks to to Fox News and AM talk radio. He is popular with people who don't believe in evolution, think the President was born in Kenya, and are convinced that if they had been in that theater in Aurora they would have taken care of the shooter. In reality, at best they would have shot themselves in the butt. At worst they would have killed an innocent bystander.
From CCHAL: request for feedback on rural CID situation
Just received this post from Marjorie Murray, President of the Center for California Homeowner Association Law, that I am passing along to all per her request. It is an interesting situation and I think many of you may have some thoughts to contribute:
-----------------------------------------------------
Evan: We've had many conversations about how CIDs function
as local governments (without the restraints we expect of local
government.) But this query (below) illustrates too well that California
local governments are going a step further: they are shifting costs to
homeowners that they -- city councils and county supervisors -- don't want to
bear. No doubt this was always true, but I think the practice may be
accelerating, given the budget crises in every level of California government.
Please post the query (below); we would appreciate reader feedback on this homeowner dilemma.
Marjorie Murray, President
Center for California Homeowner Association Law
www.calhomelaw.org
***************************************************************************************************************************************************
Please post the query (below); we would appreciate reader feedback on this homeowner dilemma.
Marjorie Murray, President
Center for California Homeowner Association Law
www.calhomelaw.org
***************************************************************************************************************************************************
Here’s
a troubling question from homeowners in a rural California county.
Their
association is in a national forest. It owns its own water system: a
complex network of tanks and pipes carrying water throughout the subdivision to
each home. (There is no supply of public water to the
subdivision.) The pipes are buried beneath the subdivision’s roads.
The
subdivision roads, however, are NOT owned by the association. They are
owned – but poorly maintained -- by the county. “Poorly maintained” means
the county will occasionally fill some of the potholes, but only if the
association begs county public works.
The
roads are public, meaning they bear traffic from campers, SUVs, and HUMMERS on
their way to campgrounds in the forest. The weight of these sport
vehicles damages the roads, but most of the damage is inflicted by logging
trucks carrying their heavy loads of pine and redwoods out of the forest.
The
traffic damages not only the roads, but also the association’s water system
beneath them. A proposal is now before the membership to drain its entire
reserve account to repair the water system damaged by the traffic and to repair
the roads, which will remain open to public -- and to future damage.
So…who
should pay for this half million dollar project and future maintenance?
The county (because these are public roads)? The trucking
companies? The association (because it’s their water system at risk)?
This
scenario is a good example of the quasi-governmental nature of common interest
developments: they provide services that local governments (counties and water
districts in this case) used to provide. With one big difference: the services
are now privately financed – by homeowners.
So
let us know what your think about the homeowners’ quandary….
CCHAL
NewsBrief
July
26, 2012, copyright
Wednesday, July 25, 2012
HOA boards are wild card in litigation game, author says - News - ReviewJournal.com
HOA boards are wild card in litigation game, author says - News - ReviewJournal.com
And that author is me. The article is about the construction defect game.
And that author is me. The article is about the construction defect game.
$140 sewer bill turns into foreclosure notice and $50,000 tab for homeowner | The Sideshow - Yahoo! News
$140 sewer bill turns into foreclosure notice and $50,000 tab for homeowner | The Sideshow - Yahoo! News: Dominick Vulpis admits he had an outstanding $140 sewage bill. But when that bill went unpaid for four years, the $140 bill turned into a home foreclosure notice and $50,000 in debt.
MSNBC reports that Middletown, N.J., turned over the utility bill to Approved Realty Group, an investment company. The practice is far from unheard of. Private companies buy up existing debts from local governments and then pursue the responsible parties, charging interest and fees. Several states have placed limits on the amount of money these private companies can charge for unpaid public utility bills.
--------------
Another example of local governments emulating HOAs. Privatize public debt and pay the debt collection company and legal counsel a handsome fee for their services. In this case, an astonishing multiple of 268 times the size of the underlying delinquent sewer bill.
MSNBC reports that Middletown, N.J., turned over the utility bill to Approved Realty Group, an investment company. The practice is far from unheard of. Private companies buy up existing debts from local governments and then pursue the responsible parties, charging interest and fees. Several states have placed limits on the amount of money these private companies can charge for unpaid public utility bills.
--------------
Another example of local governments emulating HOAs. Privatize public debt and pay the debt collection company and legal counsel a handsome fee for their services. In this case, an astonishing multiple of 268 times the size of the underlying delinquent sewer bill.
Tuesday, July 24, 2012
Dozens of Magnolia residents threatened with foreclosure - Houston weather, traffic, news | FOX 26 | MyFoxHouston
Dozens of Magnolia residents threatened with foreclosure - Houston weather, traffic, news | FOX 26 | MyFoxHouston
But this summer's threat to take away homes in the Remington Forest subdivision has a face and a name: Michael Fitzmaurice, the subdivision's developer and president of the Remington Forest Homeowners Association....Approximately two dozen Remington Forest homeowners gathered to share their concerns over the growing number of liens Fitzmaurice has threatened to file against them or their neighbors. "He's also threatening everybody," homeowner Debbie Sloan said. "I mean I can't tell you how many people I've talked to that have already gotten a notice that have already paid their dues but they're getting notices they haven't paid their dues."
"We lost everything in the fire, so he thinks we have no records, we can't trace it, so he can come back and say hey you didn't pay back in 2003, 2004, 2005 and 2006," homeowner Shannon Montealvo said. "He thinks we can't show the records to prove we did pay."
Public records show that in 1992, Fitzmaurice pleaded guilty to numerous counts of felony grand theft in Florida. He was sentenced to three and a half years in prison.
Read more: http://www.myfoxhouston.com/story/19094372/2012/07/23/dozens-of-magnolia-residents-threatened-with-foreclosure#ixzz21Y9qz5BZ
-----------------------
Thanks to Beanie Adolph for this link.
But this summer's threat to take away homes in the Remington Forest subdivision has a face and a name: Michael Fitzmaurice, the subdivision's developer and president of the Remington Forest Homeowners Association....Approximately two dozen Remington Forest homeowners gathered to share their concerns over the growing number of liens Fitzmaurice has threatened to file against them or their neighbors. "He's also threatening everybody," homeowner Debbie Sloan said. "I mean I can't tell you how many people I've talked to that have already gotten a notice that have already paid their dues but they're getting notices they haven't paid their dues."
"We lost everything in the fire, so he thinks we have no records, we can't trace it, so he can come back and say hey you didn't pay back in 2003, 2004, 2005 and 2006," homeowner Shannon Montealvo said. "He thinks we can't show the records to prove we did pay."
Public records show that in 1992, Fitzmaurice pleaded guilty to numerous counts of felony grand theft in Florida. He was sentenced to three and a half years in prison.
Read more: http://www.myfoxhouston.com/story/19094372/2012/07/23/dozens-of-magnolia-residents-threatened-with-foreclosure#ixzz21Y9qz5BZ
-----------------------
Thanks to Beanie Adolph for this link.
The Ultimate Mitt Romney Flip-Flop Collection - YouTube
The Ultimate Mitt Romney Flip-Flop Collection - YouTube
I don't usually post links to general political things, but this 20 minute video collection is so revealing that I think everybody who is going to vote on November 6 should watch it and think about what it means. In a way, Romney is perfectly consistent: he always says whatever is most advantageous to him at the moment, regardless of what he has said in the past. Abortion, immigration, the bailouts, gun control, blind trusts, education policy, raising the minimum wage, gay and lesbian rights, climate change...it just goes on and on for 20 minutes.
I don't usually post links to general political things, but this 20 minute video collection is so revealing that I think everybody who is going to vote on November 6 should watch it and think about what it means. In a way, Romney is perfectly consistent: he always says whatever is most advantageous to him at the moment, regardless of what he has said in the past. Abortion, immigration, the bailouts, gun control, blind trusts, education policy, raising the minimum wage, gay and lesbian rights, climate change...it just goes on and on for 20 minutes.
Number of California homes entering foreclosure falls to 2007 levels - latimes.com
Number of California homes entering foreclosure falls to 2007 levels - latimes.com
DataQuick President John Walsh said in a statement that it was unclear whether the drop in the number of homes entering the foreclosure process was a sign that the worst was over or simply that the process itself had slowed.
“The foreclosure process has always been the sanitation department of the housing sector,” he said. “The question is whether these lower … numbers mean that there’s less distress to process, or if we’re just seeing distress get processed at a slower pace.”
The number of homes being lost to foreclosure plunged. The number of trustee deeds, which are the public documents filed when a foreclosure is completed, fell 27.8% from the prior quarter and were down 48.5% from the same period as last year. A total of 21,851 deeds were filed last quarter.
------------
So maybe it's good and maybe it isn't. Thanks to Fred Pilot for the link.
DataQuick President John Walsh said in a statement that it was unclear whether the drop in the number of homes entering the foreclosure process was a sign that the worst was over or simply that the process itself had slowed.
“The foreclosure process has always been the sanitation department of the housing sector,” he said. “The question is whether these lower … numbers mean that there’s less distress to process, or if we’re just seeing distress get processed at a slower pace.”
The number of homes being lost to foreclosure plunged. The number of trustee deeds, which are the public documents filed when a foreclosure is completed, fell 27.8% from the prior quarter and were down 48.5% from the same period as last year. A total of 21,851 deeds were filed last quarter.
------------
So maybe it's good and maybe it isn't. Thanks to Fred Pilot for the link.
Monday, July 23, 2012
Illegal Front Yard Garden: Canadian Couple's Kitchen Garden Targeted By Authorities
Illegal Front Yard Garden: Canadian Couple's Kitchen Garden Targeted By Authorities
"Take a look at Josée Landry and Michel Beauchamp's gorgeous front yard kitchen garden in Drummondville, Quebec. The cucumbers, tomatoes, zucchinis, beets, onions, and brussels sprouts and other vegetables grown by the couple helped Beauchamp lose 75 pounds, and Landry 25.
"The only problem? It's illegal."
-------------------------
"Take a look at Josée Landry and Michel Beauchamp's gorgeous front yard kitchen garden in Drummondville, Quebec. The cucumbers, tomatoes, zucchinis, beets, onions, and brussels sprouts and other vegetables grown by the couple helped Beauchamp lose 75 pounds, and Landry 25.
"The only problem? It's illegal."
-------------------------
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