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Desert Underwater: Who Owns Your Home?

Posted: Nov 17, 2011 9:35 PM CST Updated: Nov 18, 2011 1:22 PM CST
By George Knapp, Chief Investigative Reporter – bio | email
By Matt Adams, Chief Photojournalist – email


LAS VEGAS — The foreclosure crisis has several causes, but government investigators now believe that high risk gambling by major banks is mostly to blame for the economic meltdown. Millions of Americans who played by the rules and paid their bills have lost their homes because banks and their service providers cranked out mountains of bogus mortgage documents.

In Nevada, tens of thousands of homeowners are in for a big surprise — they don’t really own their homes because the paper trail was corrupted from the beginning. And if the house you bought has ever been in foreclosure, there’s a strong chance you have a problem.

We’ve heard over and over how the government’s insistence that banks provide subprime loans so poor people could get mortgages is the primary cause of the meltdown. Subprime loans are a part of the problem, but only a tiny part. For the most part, the people who have lost, and are still losing their homes, did everything right and still got screwed.  Read more…..

and check out this video:

March 19, 2012 Posted by | Foreclosures, Market Statistics, Miscellaneous | Leave a comment


by The KCM Crew on February 24, 2012 · 23 comments


Methodology as per CoreLogic: The foreclosure inventory represents the number and ratio of homes that have been placed into the process of foreclosure by the mortgage servicer. Mortgage servicers start the foreclosure process when the mortgage reaches a specific level of serious delinquency as dictated by the investor for the mortgage loan … The foreclosure inventory is measured only against homes that have an outstanding mortgage. Homes with no mortgage liens can never be in foreclosure and are therefore excluded from the analysis.

For further information, go to

March 19, 2012 Posted by | Buying, Foreclosures, Miscellaneous, Selling | Leave a comment


2.6M of Shadow Inventory To Be Resolved

by The KCM Crew on March 16, 2012

March 19, 2012 Posted by | Uncategorized | Leave a comment


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