Imagine you’ve been asked to come up with a process to collect unpaid property taxes, and because you’re a terrible person you’ve decided that your process will be as painful as possible for the property owners while remaining at least tenuously legal. Do you think you could do better than Washington, D.C., where private investors […]

Every day, we wake up thinking that we cannot possibly dislike the banks (and their enablers) more than we did them the day before, and most of the days we are right, and our fear and loathing glides along on a steady keel. But once in a while we are proven wrong and learn of […]

Well this will save everyone a lot of time! Banks are just going to go ahead and do a rigorous self-review to see if they handled foreclosures correctly. Of course, most of them have not handled foreclosures correctly, remember when Wells Fargo foreclosed on the wrong house? Twice? And remember when Bank of America did […]

Marco Rubio talked last night, we are told (we couldn’t hear him over the yowling noises coming from his Sad Hairs), about some stuff. Like the middle class, and how he is middle class, and how he loves living among the middle class and you won’t find him leaving his beloved middle class neighborhood to […]

Here, enjoy this video of Chris Christie screaming at a reporter from New York who has the NERVE to ask him a follow-up question about the foreclosure fund. Why is New Jersey dead-last in the nation in terms of implementing a bunch of programs to help homeowners avoid foreclosure, the reporter may have wanted to […]

Remember that nice couple we told you about last week — the Tjosaas family, whose home in Twenty-Nine Palms was “accidentally” foreclosed upon by Wells Fargo even though the couple didn’t even have a mortgage? Turns out: this was the SECOND TIME that Wells Fargo had “accidentally” foreclosed on that house by mistake, but it’s […]

Hello, would you like to hear a heartwarming story about banks? Oh good, because last week, a bank accidentally foreclosed on the wrong house and a nice middle aged couple lost everything that wasn’t nailed down and can never get it back, ever again. Sorry, precious memories, about going to the wrong address and all. […]

The first reaction most decent people will have when seeing these pictures of last year’s Halloween costume party at the foreclosure mill law offices of Steven J. Baum is overwhelming disgust and nausea, followed by an overwhelming desire to storm these offices on Monday and “make an example.” But the employees of Steven J. Baum […]

Libya, wherever that is, is costing America $1.1 Billion, just for the summer. At least $716 Million has already been thrown at Libya in the form of bombs. Somewhere, we’ve also got this figure that shows the Obama Administration has spent $2 Billion of the nearly $50 Billion budgeted and set aside to help people […]

The U.S. economy will continue to be terrible, as far as jobs and housing and state tax revenues, as long as the Housing Crisis continues. And, based on today’s news and basically all housing news for several years now, the collapse of the Housing Bubble is an ongoing catastrophe — with prices still falling, terrible […]

Oh good gravy, one of those celebrity teevee shows has an EXCLUSIVE video of somebody walking around while Bristol ‘n Tripp show off the empty foreclosed Arizona exurban cotton-field end-of-the-highway stucco box that she bought with CA$H because people have given her hundreds of thousands of dollars for managing to get pregnant as a teenager […]

Nothing else legal is as evil as the American Housebuilding Industry. Pretty much everything wrong with this country — from the oil wars it fights abroad to the morally crippled exurban old people at Tea Party rallies to their unwanted adult children living in squalid fourth-ring apartment complexes on a diet of SSI and methamphetamine […]

America’s favorite recently-married orange Floridian, Governor Charlie Crist, had to quit the Republican Party because the teabaggers didn’t want him to be the new U.S. senator. Why do teabaggers hate Republicans so much? Doesn’t matter! Charlie now has a healthy lead in the three-way or four-way race for Senate, while dumb wingnut Marco Rubio is […]

Remember the Housing Bubble and the gazillion bullshit mortgages that caused the entire global economy to collapse and send us into a terrible World Depression? It’s still going down! The housing crash, that is — one in eight homeowners is now either in default or in foreclosure, a new record!


by Sara K. Smith

NATION OF UNDERWATER HOMEOWNERS: According to some estimates, about 20 percent of people with mortgages owe more on their homes than what they’re actually worth. Your mileage may vary depending on whether there are a lot of foreclosures in your area, because fire-sale pricing will naturally depress surrounding home values even more than just a […]