While Eminent Domain Proposal Discussed, LA Tries to Make Foreclosure Cost-Prohibitive

By: Wednesday July 18, 2012 9:40 am

Dean Baker has a generally positive story out about the proposal in San Bernardino County, California to use eminent domain to condemn, write down and return to the owner underwater mortgages. Alternatively, in LA officials are going after the slumlords who refuse to take care of properties that have been foreclosed.


South Florida Investigation Reveals Bad Neighbor Banks

By: Tuesday May 8, 2012 1:30 pm

The Sun-Sentinel in Palm Beach, Florida has been running an excellent series on so-called bad-neighbor banks. Over ten thousand bank-owned properties in ten South Florida cities, most of them acquired in foreclosure proceedings, had major property code violations. Their reporting uncovered that 40% of the bank-owned homes in this area had been cited with violations.

More Terrible Media Reporting About Housing

By: Wednesday April 11, 2012 4:27 pm

I’ve noted before that one of the reasons we don’t get good housing policy in this country is that the media by and large doesn’t understand it. When Ed Henry shows that he doesn’t know how home loans work, it means more complex issues about housing policy have no chance of moving past the demagoguery stage. That’s what I thought when I saw this story from ABC News about how taxpayers are paying for mowing lawns! Oh noes!

Foreclosure Fraud Settlement Docs (II): Giving Homes to Charity as a Penalty

By: Tuesday March 13, 2012 9:15 am

Part II in this series discusses credits the banks get towards meeting their multi-billion dollar settlement obligations. The federal government and state AGs want you to assume that means a set amount of principal reductions that the banks will grant. But in reality, the banks can employ a variety of non-modification strategies to receive credit toward the settlement, including a number of routine actions they would probably undertake whether or not there was a settlement in place.

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