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Tag Archives: bubble

Anti Deficiency Statutes

Antideficiency Statute info is scattered around online..here are some links that we could dig up…
Forty-two states in the U.S. allow deficiency judgments, meaning that lenders can seek
to cover any deficit at foreclosure out of the borrower’s non-housing wealth
http://www.sba.uconn.edu/RealEstate/
Also, see these links:
http://jaydiatribe.blogspot.com/2008/04/anti-deficiency
http://www.castlelaw.com/antideficiency.htm
http://www.foreclosurecounseling.com/foreclosure_help/antideficiency.html
http://dirtlaw.typepad.com/blog/2008/03/californias-ant.html
http://www.dianedrain.com/RealProperty/
http://www.garystickell.com/articles/arizona-antideficiency.htm
There should be an antideficiency site somewhere?
Anyone know of a site primarily dealing with antideficiency [...]

Florida Bankruptcy

South Florida bankruptcy filings increase:
There were 1,972 filings last month, compared with 1,758 in September, and up 61 percent from 1,228 in October 2007, according to the U.S. Bankruptcy Court for the Southern District of Florida.
http://www.sun-sentinel.com/business/
Here’s the housing inventory numbers for all 50 states. Miami has 50,000 units in inventory according to this!
http://www.housingtracker.net/old_housingtracker/
& here is [...]

Bankruptcies in Arizona

Here’s the latest from another bubble state: Arizona.
This increase in Chapter 7 bankruptcy filings continued last month:
Consumers and businesses initiated 1,552 filings in the Valley and 2,119 statewide last month. Both were easily the highest totals so far in 2008.
http://www.azcentral.com/arizonarepublic/
It even quotes a bankruptcy lawyer saying that this is the busiest he’s been since the [...]

2008 Bankruptcies Approaching 1 Million Filings!

Click here for this blurb from CNN:
http://money.cnn.com/2008/10/24/pf/
As we’ve reported before, this isn’t a surprise given the trends in housing prices downward- especially in California.
Anyone from CA want to comment on what the situation is out there regarding real estate?
This article from CNN contains the very accurate subheadline: “New Laws, Same old Problems”

Bankruptcy In Michigan

Here is a long post from mid September regarding bankruptcies filed in Michigan:
http://www.dexterleader.com/stories/091108/loc_20080911002.shtml
It even mentions the negative equity issue that Michigan has been experiencing for some time now:
…I see clients come in here who owe on a $150,000 mortgage, but the house is only worth $120,000…
That may be what happens when people can’t pay their [...]