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Real Estate Briefing - Categorized | Finance, Mortgage more

Mortgage paperwork mess: Next housing shock?

Posted on 08 August 2011

Home prices have been falling for months, sending us into a second housing shock. Home values are almost down to what they were back in 2002. A key factor bringing down prices - and holding back the recovery - is the huge number of foreclosed houses.
Many of them are stuck on the market for a reason that you wouldn’t expect: banks can’t find the ownership documents. It’s bizarre, but it turns out that Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse……………………………………….Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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