After reviewing many of the articles on the internet today, there are some attorneys who estimate that the documents belonging to as many as 50% of the mortgages made between 2001-2008 have been lost or destroyed, which if the Produce the Note strategy works, could leave lenders VERY vulnerable.

RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its 2008 U.S. Foreclosure Market Report™, which shows a total of 3,157,806 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 2,330,483 U.S. properties during the year, an 81 percent increase in total properties from 2007 and a 225 percent increase in total properties from 2006.

still leading the delinquencies at almost a 20% delinquency rate and also lead foreclosures are no longer the only loans on which the delinquency and foreclosure numbers are rapidly rising...

The LA Times has a nice story about Leo Nordine, a 45-year old Hermosa Beach real estate broker who specializes in foreclosure sales and must be about the only realtor in the world who doesn't own a cell phone. Really!

CPI rose 0.8 percent in July, following a 1.1 percent jump in June. Core CPI (ex-food and energy) was up 0.3 percent. The headline year-over-year CPI was 5.6 percent, a particularly difficult number for the market and economists to swallow.

Fannie Mae plans to announce a new series of initiatives called “Keys To Recovery” on a conference call with investors and analyst. The new effort consists of providing solutions to help homeowners avoid foreclosure, and helping 1st time homebuyers with purchasing a home.

Foreclosure Trackers, Inc., a one-stop foreclosure resource for investors of all levels, will present a workshop titled, “Defaulted Mortgages: Turning Foreclosures into Investment Income” on Wednesday, April 23 at 7 p.m.

RealtyTrac ( realtytrac.com ), the leading online marketplace for foreclosure properties, today released its March 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 234,685 properties nationwide during the month, a 5 percent increase from the previous month and a 57 percent increase from March 2007. The report also shows one in every 538 U.S. households received a foreclosure filing during the month.

The housing bill, passed by the U.S. Senate, designed allegedly to ease the crunch on foreclosures and encourage growth in the housing sector is nothing more than a Democrat driven hand out to those with money, with banks possibly making even more money off of those that cannot afford to keep their homes. In a worst case scenario, it wil create an over abundance of homes on the market and drive prices further down.

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The Urban League of Central Carolinas is excited to announce a unique partnership with Lowe’s to provide a series of Home Owner seminars covering topics ranging from Predatory Lending & Foreclosure Prevention to Home Maintenance & Preventative Care. The Lowe’s Homeowner Readiness Curriculum, which will be incorporated into the Urban League’s existing Professional Adult Empowerment (PEP) program, started March 14 and is open to the public.

Falling Home Prices Create Less Incentive to Make Payments.