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Steve Dibert, MFI-Miami

A bill introduced by the minions of Billionaire Dick DeVos (of Amway fame) in the GOP controlled Michigan Senate would allow credit card companies and other creditors to place liens on your home and then allow them to foreclose as a lien holder.  This bill if passed would take advantage of a loophole in Michigan’s foreclosure laws that allow a creditor to take possession of someone’s home even if that creditor is not in first lien position.

You know, I was having kind of a crummy day… nothing serious, just dragging my feet a bit and grinding through some writing I’ve been working on for too long… and thinking about how nothing is changing… and then out of the blue it happened… and I started smiling right away… kicking my heels up a bit… even opened a cold beer to celebrate the news.

Nick Timiraos, at the Wall Street Journal, is reporting that the Obama Administration is replacing Edward DeMarco, the current “acting” director of the Federal Housing Finance Agency, the conservator for the failed mortgage behemoths Fannie Mae and Freddie Mac.

It’s official.  If you’re a homeowner in California at risk of foreclosure, and need to get your mortgage modified in order to save your home, the single most dangerous thing you can do… is try to find a lawyer to help you.  

And the blame for that deplorable state of affairs lies squarely at the foot of the State Bar of California, although I suppose the state legislature would have to be credited with an assist.

It’s not hyperbole and I’m not kidding… I’m being dead on serious and accurate.  In California, we have finally managed to take a horrific situation, and by applying everything from apathy to ignorance, make it exponentially worse.

After Two Decades Of Meticulous Planning, The DeVos Plan To Finally Ravage The Treasures Of Michigan Is Becoming A Reality

Steve Dibert, MFI-Miami

Last week, European-style austerity landed in America but unlike the poor huddled European immigrant masses who landed in Ellis Island a century ago, austerity washed up on the banks of the Detroit River and the masses who rode the tide were not the poor, tired and uneducated but an army of rabid GOP politicians bought and paid for by Dick and Betsy DeVos who made their money by pawning their get rich quick pyramid marketing scheme.

There is a fair share of hyperbole and panic behind all the discussion about the fiscal cliff, whether it is real or just another made-for-TV drama a step away from a new “Real Housewives” spin-off. But that does not mean some of it is not justified.

The fiscal cliff contains many, many moving parts, which sometimes tend to get lost in a sea of white noise. But behind all the political grandstanding and theatrics, there are real Main Street issues at play.

Here is the reality. Regardless of what happens with the fiscal cliff negotiations, the real estate market is going to take a hit, particularly at the higher end of the market. It is just a matter of how substantial; whether it is a bump in the road or a major setback.