A judge in Brooklyn, NY, who has tossed out nearly half of the foreclosure cases brought before him over the past year, because the lenders have such messy paper trails that they can't prove ownership anymore.
Read the rest....
.Because of higher than expected inventory levels of Form 1040X, Amended U.S. Individual Income Tax Return, the processing timeframe is temporarily extended to 12-16 weeks instead of the normal 8-12 weeks. It is not necessary to contact the IRS regarding the status of a return; returns are being processed as quickly as possible.
This often gets confused with 16% of all properties so let me be clear. This is 16.4% of all resale homes sold and closed in the 2nd Qtr of 2009. 26.4% were bank owned. If you combine the total that would be 42.9% of all residential resale homes were of a distressed nature.
Obviously as a home owner and broker I would prefer this number be much, much lower. However the good news is that for the past three months this number has seen nearly no change. So we are currently hit some stability in the market. My sources at FannieMae also believe the number is stable as well.
Wages increase 2.2%
Forbes says: "Idaho's quirky mix of agriculture, lumber, mining and high-tech manufacturing gives it a far different profile than most states. Unusual job skills for niche industries can remain in demand during recessions, since those jobs can't be filled by just anyone."
Read the article.