Foreclosure Delays Stretch Imagination

Over the past month we noticed that Bank of America has been resuming foreclosures on loans originated by Countrywide. As you may recall in October BofA voluntarily imposed a foreclosure moratorium following the robo-signing scandal. We actually expected an increase in activity as lenders began to catch up after these delays and were instead surprised to see foreclosure activity drop in April.

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Even the Naysayers Are Saying To Buy Now!

Business School professors Eli Beracha of East Carolina University and Ken H. Johnson of Florida International University have done extensive research on which makes more sense financially:to rent or own a home. They published,Lessons from Over 30 Years of Buy versus Rent Decisions:Is the American Dream Always Wise? In their paper,the professors do not dispute the social benefits of homeownership:

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May 2011
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