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7 posts tagged with mortgagecrisis.
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Possession is Nine-Tenths of the Law

After researching Texas's unusually generous adverse possession laws, Kenneth Robinson filed a $16 Affadavit of Adverse Possession and moved into a home in Flower Mound, TX worth an estimated $300,000. [more inside]
posted by KathrynT on Jul 22, 2011 - 130 comments

Multiply this by HOW MANY mortgages out there?

Dan Ekstrom is a guy who is in the right place at the right time. His profession? He performs securitization audits (Reverse Engineering and Failure Analysis) for a company called DTC-Systems. The typical audit includes numerous diagrams... The following flow chart reverse engineers the mortgage on the Ekstrom family residence. It took Dan over one year to take it this far and it clearly demonstrates what happens when there are too many lawyers being manufactured.
posted by Pirate-Bartender-Zombie-Monkey on Nov 16, 2010 - 46 comments

Why yes, the wording & paperwork matter. A lot.

Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut makes it impossible for banks to establish their ownership of property titles--and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof.
posted by Pirate-Bartender-Zombie-Monkey on Aug 20, 2010 - 54 comments

Foreclosures hit a new record

Foreclosures hit a record in third quarter 2009. President Obama took measures to contain the crisis. It is now many months later, and one can start asking how successful these measures have been. [more inside]
posted by VikingSword on Oct 15, 2009 - 57 comments

Don't watch the Dow. Here’s the number that really captures the financial crisis [TED spread]

The Dow went up today.. don't watch the Dow. Here’s the number that really captures the financial crisis [TED spread]. [more inside]
posted by stbalbach on Oct 13, 2008 - 44 comments

McMansion ghettos

The sub-prime mortgage crisis is giving way in some places to crime ridden McMansion ghettos, perhaps the beginning of a larger long term trend in demographics: "many low-density suburbs and McMansion subdivisions, including some that are lovely and affluent today, may become what inner cities became in the 1960s and ’70s—slums characterized by poverty, crime, and decay."
posted by stbalbach on Feb 29, 2008 - 81 comments

Ha Ha Ha Ha *gulp*

Humor so dry, at times you might not be entirely sure. The Long Johns mull over the sub-prime mortgage mess. [more inside]
posted by From Bklyn on Nov 29, 2007 - 34 comments

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