The Mess That Greenspan Made - Part 414

You Better Watch Out…

We are back from our trip, no worse for wear, after a wonderful time with friends and relatives. Listened to Christmas music the whole way back today, but didn’t hear this one.

Road Trip!

We are off to California, so, unless the house sitter fires up one of the laptop computers that we left behind, don’t look for too much to appear here this week.

Some old posts would have been queued up, but the last day has been spent battling a malware program that, in the end, led to the purchase of a new laptop that required some prep time. The old one was two years old, so, it’s days were numbered anyway.

The photo above is about all that can be mustered today (hat tip ES), a Christmas decoration practice that is apparently becoming very popular based on the results of this Google search. Either that, or it’s the same people doing it every year with different color lights.

There are a few people around here who have really done it up this year, though the theft of Baby Jesus out of the nativity scene on one of the main thoroughfares in town does seem to have dampened spirits just a bit.

The Best of the Bozeman Police Reports

Culled from the Police Reports page of the Bozeman Daily Chronicle come the best of the Bozeman police reports from the last week along with some items from the Sheriff’s Office. Note that a new book featuring the very best of these police reports is now available from the Chronicle for only $10 – just click on the banner below to find out how to order.

Since the local police reports have only been featured here for about a year, their seasonal patterns have yet to be noticed, however, this time of the year certainly does appear to be quieter, police blotter-wise, than any other period so far. I guess that makes sense as some of the wildlife is hibernating now that the weather is much colder – both the four-legged kind and the two-legged variety. People seem to stumble into places they shouldn’t be in the wee hours a lot less frequently than in the summer and now you’re more likely to read reports of snow shoveling disagreements between neighbors or stolen fire wood.

  • A candle caught a West Olive Street man’s bag of popcorn on fire at 1:08 a.m.
  • A “very wounded black bear” crossed East Kagy Boulevard and stopped on the north side of the road.
  • A Starr Mobile park man started his car around 6 a.m. and went inside as it warmed up. He found a “highly intoxicated, large white male wearing Carhartts sitting in his car.” The drunken man had to be physically pulled from the vehicle.
  • No one was injured when a parked vehicle was popped into gear, possibly by the dog inside, and rolled across West Main Street into a business.
  • Rosauers employees found two field-dressed geese in the parking lot.

(more…)

About Those 4 Million Delinquent Mortgages

After all the better-than-expected news about the U.S. economy reported in recent months, word that the massive backlog of delinquent home loans is about to begin pushing its way through the system again in the months ahead should temper some of the enthusiasm about the U.S. economy in the year ahead. Diana Olick has all the details about the latest foreclosure report from RealtyTrac in this story at CNBC today.

Despite a seasonal slowdown in overall foreclosure activity, and a process still bogged down and backed up by the “robo-signing” processing scandal, the U.S real estate market is about to be hit by another surge of bank repossessions, according to a new report from the online foreclosure sale site RealtyTrac. As banks resubmit millions of documents and courts begin hearing cases again, the backlog of over four million delinquent loans will start surging through the pipeline again.

“November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs [bank repossessions] or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Arizona and Massachusetts actually posted year-over-year increases in foreclosure activity in November.”

Other states, like New York and New Jersey, are still seeing huge delays in the foreclosure process–986 and 984 days respectively, says RealtyTrac, but they too are starting to ramp up, as various moratoria have been lifted and judges have made rulings that will kick-start the process.

I remember when we’d shake our heads in disbelief when the average time to foreclose on a property reached a year. Amazingly, it’s nearly three years now in some places…

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