Tag: crises

Real Estate Tsunami

When you look out at the bay and notice all the water has been drained its usually a sign there is a large wave coming.

Last week BofA, one of the many TBTF, increased their NOD’s (Notice of Default) filings by 33% m-2-m. After several months since the robo-signing scandal the banks appear now poised to start moving on many of these non-performing assets. Some of which have not had a mortgage payment made in one to over two years.

I still … got nuthin’

Last week I admitted that I got nuthin when the latest developments in financial reform were announced. The picture is bleak in regards to any oversite.

Today we have further developments and I have to say once again … I still … got nuthin.