housing and the stock market – The Rubber Hits the Road – John P. Hussman, Ph.D. – … From the pattern we observed during the round of sub-prime resets, delinquencies tended to follow the resets within about 3 months, and foreclosure actions within about 6 months. Although the 2010 peak in the Alt-A / Option-ARM reset schedule doesn’t occur until July, with a much larger peak in mid-2011, a small initial round of resets is already in progress, having started about November of last year. I would expect that if we are indeed at risk of a second wave of mortgage defaults and credit strains, it will show up first as a surprising jump in 30-day mortgage delinquencies in the data we see over the next 2-4 months … – Hussman Funds
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Fighting the Headwind in Housing – Special Housing Market Edition – by Diane Swonk, Chief Economist, Mesirow Financial
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3 NEAR-TERM RISKS TO THE (STOCK) MARKET – 1) Complacency 2) Catalysts 3) China - has charts and commentary – The Pragmatic Capitalist
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new term - REVERSE FORECLOSURE – Desperate condo, homeowner associations thrown a lifeline – A new maneuver called reverse foreclosure helps condo and homeowner associations collect badly needed overdue maintenance fees. – BY RACHAEL LEE CO – … Under a reverse foreclosure, the association files its own foreclosure notice and takes title, which is its right after the homeowner stops paying maintenance fees. The association can’t sell because of the bank’s lien. But it can renounce its claim on the property in court and ask the judge to give the title back to the bank. Then the bank has to pay the fees.. … – Miami Herald
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4 Biggest Lies in Real Estate – by Ilyce Glink - CBS Moneywatch
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RESPA legacy? – No More Pre-approval Letters, Say Lenders – By Peter G. Miller – As a result of the new mortgage borrower protections that took effect January 1st, some lenders are now saying they can no longer provide pre-approval letters … – thanks Peter – OurBroker.com
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Mortgage Principal Writedown Won’t Save Housing – By: Diana Olick – CNBC