SK, See here for off-market

[CA renter]

SK,

See here for off-market FHFA dispositions (including limitations on sales, holding durations, etc.):

http://www.fhfa.gov/Default.aspx?Page=360

And the “National Stabilization Program” and the “National Foreclosure Prevention and Foreclosure Task Force Response” info is here:

http://www.nw.org/network/aboutUs/policy/documents/Foreclosure_Task_Force_Response_to_REO_RFI_FINAL.pdf

And Bank of America is not foreclosing on many homes:

“A disproportionate share of BofA mortgages in the 90+ days delinquent bucket — 62% — are there for more than three years. That’s biggest among Too Big to Fails.”

http://www.housingwire.com/news/2012/09/16/monday-morning-cup-coffee-bofa-slowest-solve-delinquent-mortgages

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This article pretty much sums up some of my concerns regarding all of the “investors” who’ve been entering the market in the past few years.

http://truth-out.org/news/item/15546-whose-housing-recovery

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The problem with the Fed keeping interest rates so low is that investors/speculators are forced to get into riskier and riskier assets in order to chase yield. This pushes the prices of these assets up well beyond what would be “reasonable” if the Fed were not engaging in ZIRP and QE. I would argue that risks are not being appropriately priced in…not by a long shot.

And I’m NOT saying that this housing “crash” will be worse than the last (not saying that it won’t be, either). Everything is connected, and the damage from this credit bubble might have even more dire consequences in areas other than housing.