Negative Equity Rising and Still Understated

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Negative Equity Rising and Still Understated

Editor’s Comment: 

In our pretend world which is being narrated by the Banks, the housing crisis is easing, people are starting to buy foreclosed homes for investment and domicile, and the defects in documentation were just paperwork problems that will get fixed. The foreclosures are real, we are told, the banks hold the assets on their balance sheets, the auctions were valid, the credit bids were properly accepted by the auctioneer as a no-cash offer from a bona fide creditor. Planted articles and stories across the media spectrum would have us believe that the worst is behind us.

In the real world, even those who wish to portray the housing market to be in some stage of recovery admit that the number of homes with negative equity is increasing…

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Author: timothymccandless

I have spent most of my professional life helping people who were being taken advantage of by systems they did not fully understand. As an attorney, I represented consumers against predatory lending practices and worked in elder law protecting seniors from fraud. My family lost $239,145 to identity theft, which became the foundation for my seniorgard.onlime and deepened my commitment to financial education. Since 2008, I have maintained a blog at timothymccandless.wordpress.com providing free financial education. Not behind a paywall. Free, because financial literacy should not cost money. I trade with real money using the exact strategy described in this book. My current positions: Pfizer at $16,480 deployed generating $77,900 per year net. Verizon at $29,260 deployed generating $51,000 per year net. Combined: 293% annualized pace. These are my only active positions. Not cherry-picked.

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