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Ref. : Local Newsbriefs
Ref. : Letters to the editor
06.24 Mr. Holder, You Must Hold Torturers Accountable
06.29 Thinking about Climate
06.26 False Health-Scare Ad on CNN
06.25 Louella Learns the Limits of Medicare
06.23 The Simple Answer to America’s Health Care Crisis: Medicare for All
06.23 Tell ABC: Include Single-Payer in Healthcare Debate
06.23 Serving the Medical-Industrial Complex
06.22 Thinking about Recoveries
06.20 Obama's Health Care Waterloo
06.15 Obama, Like Clinton Before Him, is Blowing the Chance for Real Health Care Reform
06.11 Two Key Health-Care Numbers
06.10 Big Breakthroughs for Single Payer Health Care
06.10 Readying Americans for Dangerous, Mandatory Vaccinations
06.29 WP's Connolly Back, on Health Reform
06.17 Hypocrisy and Hope: Western Coverage, Iranian Courage
06.15 Excusing Outrages of the Right
06.11 Tying Obama to Bush's Budget Mess
06.30 Obama's Torture Hypocrisy
06.30 Court Circular: Annals of Imperial Continuity
06.29 Obama, They Want You to Fail
06.26 Who to Trust on a Truth Commission?
06.26 Tarnished Shields: The Morally Bankrupt 'Family Values' Republican Leadership
06.25 America's "Bases of Empire"
06.24 Twelve Angry White People: Jury Nullification in a Pennsylvania Coal Town
06.24 Touring Empire's Ruins
06.23 Employers are Undermining the Economic Stimulus Program
06.19 Criminalizing Dissent: Obama Pot Calls Iranian Kettle Black
06.17 Afghanistan's Operation Phoenix
06.16 Are You Ready for War with a Demonized Iran?
06.13 Where's the Anger as the Wheels Come Off Obama's and the Democrats' Recovery Program?
06.10 Waiving the Rules for Old Glory
06.10 Obama's Era of Openness Is Closed
07.03 Reviewing Marjorie Cohn and Kathleen Gilberd's "Rules of Disengagement"
07.01 Iraq: A Bitter Strategic Failure
06.25 It's All Good, Again: 'Uptick' in the American-Made Tides of Violence in Iraq
06.22 Obama Opposes Plame-gate Release
06.21 Dexter's Legions: The "Good" Killers of the "Good" War
06.18 Extending the Tradition: Proudly Taking American Torture Into the Future
06.15 New UN Report Denounces America's Human Rights Record
06.14 Fear Rules
07.01 Michael Hudson's "Super Imperialism:" The Economic Strategy of Imperial America
06.23 Obama's Financial Reform Proposal - A Stealth Scheme for Global Monetary Control
06.10 Cyberscares About Cyberwars Equal Cybermoney
07.01 Pirates of the Mediterranean
06.29 Color Revolutions, Old and New
06.25 Iran Divided & the 'October Suprise'
06.23 Astringent Corrective: AbuKhalil on Iran's Turmoil
06.20 Are the Iranian Protests Another US Orchestrated “Color Revolution?”
06.20 Through a Glass Darkly: Sifting Myth and Fact on Iran
06.19 Iran's Election and US - Iranian Elections
06.16 The Ir-Af-Pak War: Obama Looses the Manhunters
06.12 Israeli War Crimes Against Children During Operation Cast Lead
ECONOMIC ANALYSIS:
Thinking About Standing-s
Foreclosure is a time consuming and costly process in the best of times. In optimal conditions you are looking at a minimum 90 to 180 days before you get title/possession to even have a chance to put the property up in a decent sale’s market. This is predicated on your having a “perfected” lien with all “I”s dotted and all “T”s crossed showing you have proper “standing” before the judge in the foreclosure proceedings. It is also predicated on that the delinquent occupant will vacate “premises” without requiring eviction. Here we are now seeing that people are increasingly unwilling to move out voluntarily or quickly. We have also seen (in three different court jurisdictions in three different states) where judges threw out the cases because the plaintiff/investors (in the mortgage derivatives) could not prove they had standing to foreclose, showing a lien to the actual properties in foreclosure. When the mortgages were packaged/sold to investors, necessary lien transfer work was not done!
Foreclosure stats are now the worst in Nevada, Florida, and California. Illinois is #17. Ogle County (where I live) has some of the fewest (31) in our State. My hometown of Creston presently has 1 and nearby Rochelle has 7. DeKalb County just East currently has 710 with 217 in the City of DeKalb, 135 in Sycamore, and 14 in Malta. Winnebago County to the North has 2,438 with 729 in Rockford. Stephenson County to the Northwest has 47 with 33 in Freeport. While these numbers are bad and will grow, they pale in comparison to the rank standings of those on the East coast, the West Coast, and the South.
I’m Fred Cederholm and I’ve been thinking. You should be thinking, too.
Copyright 2008 Questions, Inc. All rights reserved. Fred Cederholm is a CPA/CFE, a forensic accountant, and writer. He is a graduate of the University of Illinois (B.A., M.A. and M.A.S.). He can be reached at asklet@rochelle.net.
To “audit” this column and check out the current stats on your community, please check out:
- Foreclosure listing database updated thru March 31, 2008
- Foreclosure rankings and database updated thru January 2008
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This story was published on March 31, 2008.
