National Low Income Housing Coalition, May 29, 2018.  President Trump signed into law a permanent extension of the “Protecting Tenants at Foreclosure Act” (PTFA) on May 24. The PTFA was included in a larger deregulation bill (S. 2155) passed by the House on May 22. The PTFA, which expired at the end of 2014, enables renters whose homes were in foreclosure to remain in their homes for at least 90 days or for the term of their lease, whichever is greater. Senator Richard Blumenthal (D-CT) and Representative Keith Ellison (D-MN) had earlier introduced legislation (S. 325/HR 915) to permanently extend the PTFA. Making the PTFA permanent has long been an NLIHC policy priority. According to the bill, the PTFA provisions take effect 30 days after the date of enactment of the Act. [MORE: Go to link here.]


Creditcard and the houseLike the pig through the python, we are still seeing homeowners slowly going through the unpleasant process of foreclosure, seven years after the housing and credit crash began, in earnest, in 2008. Yes, there are fewer than before, but they cause the same trauma and upset they always have. However, some things have changed today.  For example, some banks and servicers have gone back to doing non-judicial sale, which materially speeds up the process.

Accordingly, I thought I’d update my Foreclosure FAQs for 2015.  For those still plagued with questions about the process, this may provide some help and information to make it more understandable and less fearsome.  Go to link here.  Good luck!  ~PCQ

foreclosureLest folks believe we’re experiencing a gradual decline in the number of foreclosures Portlanders are experiencing, the answer is a resounding “No!”  According to a May 15, 2014 Portland Business Journal article, foreclosure activity has “skyrocketed.”  However, reviewing other online reports, some folks believe that the foreclosure numbers are improving.  They can’t all be right – and they aren’t. I have developed some graphics showing the actual statistics as provided by First American Title Company.  Attached are the following: Chart for 4Q_2013; Chart for 1Q_2014; and Chart for 2Q_2014. The evidence is unmistakable: Foreclosure activity for the first half of 2014 is continuing to rise dramatically. Here are the numbers:

Continue reading “2014 Q1 and Q2 Portland Metro Foreclosures – Dramatic Increases”

BullyIn a recent article appearing at the online site “” there appeared a short blurb titled “Altisource Opens Technology Office in India.” For those who have never heard of Altisource, they are one of the few major members on the Pantheon of Scoundrels, or POS, for short.  On their website, they proudly boast:

Altisource provides services to some of the most respected organizations in their industries, including one of the nation’s largest sub-prime servicers….

Continue reading “Altisource And Its New “Disruptive Enterprise Software””

whiplashQuoting Kai Ryssdal, of NPR’s Marketplace, “Let’s go to the numbers!”  There is no question that beginning in 4Q 2013, the number of foreclosures began to decline in the tri-county area.  Of course, when this first occurred, I couldn’t be sure that it wasn’t some devious plot hatched by the Big Banks, perhaps to limit the number of foreclosed homes coming back onto the market at one time, thus increasing demand and pricing. Continue reading “Foreclosure Stats For Portland Metro Area: First Quarter 2014”

FAQs PicFor those folks experiencing, or about to experience, a “1099 event” resulting from a short sale, deed-in-lieu-of-foreclosure or foreclosure in 2014, these are harrowing times. Will Congress extend the Mortgage Forgiveness Debt Relief Act and Debt Cancellation law (the “Forgiveness Law”)? It was enacted in 2007 so that homeowners would not be taxed on the cancellation of debt that occurs when they dispose of a home that is “underwater,” i.e. the home’s mortgage exceeds its value. Continue reading “Querin Law Update: Will The Tax Forgiveness Law Be Extended to 2014?”

iStock_000007885287SmallEver wonder when the foreclosure crisis would wind down? That is an important issue, since “shadow inventory,” i.e. distressed homes not yet in the marketplace, is an important reason why available housing stock or “inventory” is so low.  Attached is link to a chart showing Portland Metro quarterly foreclosure filings for calendar year 2013. [It is page 9 in a multi-page set of graphics that are not yet displayed. Once I assimilate all of it, I will display all 11 pages with another post.] Continue reading “2013 Portland Metro Foreclosure Filings By Quarter”

New YearIt’s a New Year! Time to look back from whence we came, and look forward to 2014. ~PCQ 

From Infant to Toddler. The Q-Law website site is now four years old.  While still a toddler, it now has developed the features and personality of its father – satirical, acerbic, outspoken, contentious, caustic, etc., etc. I couldn’t be a prouder parent! Continue reading “Q-Law Mission Statement: 2014”

Creditcard and the houseAs noted in my post immediately preceding this one [Querin Law: Short Sale FAQs (2013)], the FAQ Section on the Q-Law homepage has been changed.  The FAQs on short sales that resided there for several months has been move to the Q-Law Real Estate Articles Section on the homepage [here], and I have substituted foreclosure Q&As in the FAQs Section.  Parts One and Two are below, and also located here in the FAQs Section of the homepage. There will be a total of three parts, with 30+ FAQs on foreclosures, current as of 3Q 2013.  ~PCQ

1.      What is a “judicial foreclosure”?  This is a foreclosure the lender, bank or servicer[1] files against the borrower using the court system. The “plaintiff” is the bank, and the “defendant” is the borrower. From start to finish, the process is directed by the court.  The date of the foreclosure auction is set at the end of the process.

2.      How does it differ from a “non-judicial foreclosure”?  A “non-judicial” foreclosure is conducted outside of the court system.  It consists primarily of the recording of a Notice of Default (“NOD”) in the county records, and mailing and service of a Notice of Sale (“NOS”) to the borrower, advising him/her that a foreclosure of the property has been commenced.  The NOD and NOS identify the date of the auction. Continue reading “Querin Law: Foreclosure FAQs (2013) – Parts One & Two”

People_LineIf anyone says foreclosures are tapering down, ask them for proof.  If they give you “proof” ask them what they’ve been smoking. ~ PCQ

Third Quarter 2013 Statistics.  Here is the link to the Q-Law third quarter foreclosure charts based upon numbers provided weekly from First American Title Company. For comparison, attached here are the first quarter charts and here are the second quarter charts. Continue reading “Third Quarter Foreclosure Stats For The Portland-Metro Area: What Are They Telling Us?”