Without a doubt, Deutsche Bank is the record holder for foreclosure Plaintiff in Miami. How is their stock doing by the way?They are mostly "Foreclosure Plaintiffs: as Trustee" or sometimes as "Indentured Trustee." Don't exactly know what "As Trustee" means. I am just putting out the information. You can analyze it yourself.
August 9th: Out of 99 20 were Deutsche Bank National
August 15th: Out of 101 20 were Deutsche Bank National
August 16th: Out of: 97 20 were Deutsche Bank National
August 22th: Out of 104 26 were Deutsche Bank National
August 23rd: Out of 96 12 were Deutsche Bank National
August 29th: Out of 103 22 were Deutsche Bank National
August 30th: Out of 102 22 were Deutsche Bank National
On August 9th Attorney David Stern represented 22 out of the 99 foreclosures. He has 23 scheduled on August 22nd, and on August 29th Attorney David Stern is representing 24 of the 96 sales. I didn't check any other dates. It is nice to see someone is making money on these foreclosures. Who is this guy? He makes about $1,200 on each.
Also see: Claudia How the hell did you get so much credit?
7 comments:
Hi,
Those are around 600 freclosures in a single month!!!
I think the question is, who is buying those properties?
700....not 600
The real estate sales people are calling the banks with offers...the banks don't want to hold on to the properties so they are selling them at a loss.
Real estate agents are now doing a brisk business of foreclosure sales.
Mr Stern lives in fancy palace in Tahiti Beach and makes his living as a foreclosure lawyer. Nice huh?
I think you'll find that the local banks are managing the properties and they don't really give a damn if they sell or not. They get paid to manage them. Deutche Bank has to decide on a price and put them on the market.
Besides who wants to buy one? Everyone that ever wanted one already has one.
Deutsche Bank is one of the largest trustees for MBS mortgage backed securities. The true owners of the foreclosed properties are the MBS investors (not Deutche Bank). The costs of foreclosure (court, attorney, etc.), carrying (insurance, taxes, hoa fees, etc.), losses and broker commissions (if they ever sell) are paid for by the MBS reserves.
Get this - the MBS investors probably don't even know at this point that they own all these houses/condos!
Thank your last Anon...
I really am glad you let me know....
There are approx 100 pcs. of property sold per day at the auction downtown, usually only one or two have actually been sold to investors, the rest going back to bank. Who discount them and sell on MLS, which destroys the comps for the neighborhood. I had one condo in N.Bay Village, purchased as a condo lien, asked dozen time thru attorney for lower payoff, they said no at $350k, now on market for $230.
Saw two renters there last week, whose houses were being sold at auction, they had paid their rent, the landlord did not pay mortgage.
David Stern sells all good property to his brother first.
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