This year’s foreclosure sale at the Oakland Hills Senior Center in Oakland, California, was a busy one for the foreclosure community. More than 100 homes and properties were on the market in a single day, with at least half a dozen homes going under.
The foreclosure auction was supposed to be the first of a series of events happening across the U.S. to help get people out of their homes and into stable, permanent housing. But that was then. Today, the whole process is on the verge of collapse. This coming week, a handful of state attorneys general are expected to file a lawsuit to block the sale.
With more than a quarter-million homes in the foreclosure pipeline, this is a good thing. It means that buyers who can’t afford a house are no longer forced to foreclose. The homes are being auctioned out by the state. This is the only way to get rid of them, and at the very least it will get the prices down.
A good thing too. When you sell your property, the state will give you a check for $1,000 if you have to pay the mortgage. The money will go to the bank, which will put it back to the state. We don’t know what the bank will do with the money, however.
I personally think that this is a good thing, but we want to see what the bank does with the money first. I also think that it’ll put a damper on the real estate market, but you can’t judge a company based on the way the business is going. A bad economy is like a drug addict. It makes you want to do bad things, but you have no idea how bad they are.
In the end, the banks are the only ones who can make or break the foreclosure business because they can decide not to foreclose on a house after the bank does. So it will send a signal.
For years the banks have made the rules about who can buy a home. I used to think that it was just the banks who were making those rules, but now I think it’s the buyers who are doing it. We have all seen the “no refinance” clause on the standard home loan application. The banks have been doing this for some time, but now I think the realtor will call the buyers who have a refi and say “no refinance.
This could have a big impact on the housing market. The banks will be able to see which buyers are likely to pay off their debts, and they will also know which buyers are likely to pay their bills. This could also mean that the banks will have a much easier time forcing the sale of a home, or at least a refinance which allows them to be more aggressive.
The bank will still have to call the buyers to get more information on their bad loans. The bank will have to call their agents to get more information on their bad loans, and it’s gonna be a tough call for the bank to make.
