Friday, October 15, 2010

"Fraudclosure" - Residential and Commercial Real Estate Purchases Since the 1980's in Doubt; $45 Trillion At Stake; Could Take Decades to Sort

Grab your coffee, or your Irish coffee, to watch this clip featuring a family that poured $100k into a loan servicer and were still foreclosed. Then listen to Dylan Ratigan joined by foreclosure lawyers discussing the depth and breadth of banking fraud and property rights issues.

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5 comments:

Anonymous said...

local realtors blogs are skipping this issue. absolutely no idea what to tell clients.

Jim Duncan said...

Anonymous -

In fairness, it seems that no one knows what to tell anyone about this.

I'd welcome any rational direction or guidance, but I'm having issues sorting through exactly what's happening in the market.

Humpty said...

Jim, the reason everyone is confused is because our beloved government in DC and the Fed have played so many games in an attempt to save the markets that the unintended consequences have completely thrown everyone off their game. We should have seen a major sell off a couple of years ago and by now the market would have stabilized. Instead we are going to continue on a slow and very painful downward cycle, and most folks will shy away from real estate for a generation. Now they think inflating the economy will get us out of this RE crisis. Anyone remember the late 1970s? That was a picnic compared to what is coming! God help us!

Bleeeeed it said...

the Post has an article on what it means for buyers and sellers

http://www.washingtonpost.com/wp-dyn/content/article/2010/10/15/AR2010101503346.html?hpid=topnews

Humpty said...

http://www.businessinsider.com/new-york-times-on-japans-decline-2010-10