Wed Nov 6 0:06:23 EST 2024
Blog

Ken Bauman Accused of Racism, Failure to Pay at Eviction Enterprises

Shocking new details are now coming out about Eviction Enterprises and their failure to pay a Hispanic female victim. Eviction Enterprises is led by President Jonnie Rumbaugh, who also co-owns one of the Industry's largest insurance providers, York-Jersey. Keeping Kenny Bauman in line appears to be a problem for Jonnie, these days. As many are aware of, Foreclosurepedia has been closely monitoring thousands of dollars owed by . . .

To read the article Subscribe today!

 

 

The Shift to Electric: California’s Ban on Gas-Powered Lawn Equipment and Growing Restrictions Across the US

In an effort to curb emissions and improve air quality, California made headlines in 2021 as the first state to ban the sale of new gas-powered lawn equipment. The law, which went into effect in 2024, mandates a statewide shift to battery-operated or electric alternatives for common tools like leaf blowers, lawnmowers, and chainsaws. California’s move reflects a growing trend among Democrat-dominated states that are implementing or considering restrictions on gas-powered equipment to reduce pollution and address climate concerns. On the other hand, several Republican-led states have taken steps . . .

To read the article Subscribe today!

 

 

Eviction Enterprises: The Dog Ate the Check and Other Musings

The modern economic theory of capitalism basically states that if you work for a given party, you are to be paid. In fact, everywhere except with Eviction Enterprises and the distressed assets of HUD, USDA and the VA, this is generally true. We reported on Eviction Enterprises refusing to pay a hispanic female last week whom was also a victim in the multi-million dollar fraud perpetrated by National Field Network (NFN). In fact, she was one of the original filers in the NFN Involuntary Bankruptcy. Photographs of checks aside sent to the victim by Ken Bauman, Eviction Enterprises Director of National Operations — the foot soldier of Eviction Enterprises President Jonnie Rumbaugh — no relief has been forthcoming. Moreover, though, any firms still sending paper checks is an automatic red flag.

Two things are happening over the next week that are going to greatly impact Labor. The first is a highly contentious presidential election and the other is a roll back in time which will place sunset around 5pm regardless of the time zone you are in.

Regardless of whom you vote for, the change in time is going to impact your wallet. It happens every year and always results in a higher level of chargebacks based upon the inability to perform services due to a lack of light. One critical component that our Industry is failing upon is a stable, fraud free interaction between Labor and Management. Foreclosurepedia has always recommended that when Labor performs physical services — ranging from debris removal to repairs — that a Pre Lien Notice is issued and based upon the asset’s location, a formal Lien is filed according to time triggered deadlines, should they not be paid. While I get no benefit from posting this, the most successful platform I have ever found is Levelset. They actually give you the forms and instructions on how to file Liens for free, nationwide. And for a reasonable price, they will file and serve everything for you. Performing inspections, generally speaking, do not trigger the right to file a Lien. Options such as breach of contract and unjust enrichment could be grounds for formal litigation and I encourage victims to contact a licensed attorney in these and all matters.

We will keep the Foreclosurepedia Nation updated on this matter as we receive new information including whether or not the victim is ever paid.

Why Mortgage Rates Climb Even When the Fed Cuts Interest Rates

When the Federal Reserve decides to cut interest rates, one might expect that mortgage rates would follow suit and decrease. After all, lower borrowing costs from the Fed should, in theory, lead to more affordable mortgage loans for consumers. Yet, contrary to this expectation, mortgage rates don’t always move in tandem with Fed rate cuts and, in some cases, they even rise. This disconnection can be confusing, so let’s break down the primary reasons why mortgage rates can climb even as the Fed lowers rates.

1. Mortgage Rates Are Tied to Bond Markets, Not Directly to Fed Rates

While the Federal Reserve’s policies play a role in influencing broader economic conditions, mortgage rates are more closely aligned with the bond markets, specifically the yield on the 10-year Treasury bond. When investors buy bonds heavily, the yield (or interest rate) decreases, typically pulling mortgage rates down with it. However, when bond yields rise, mortgage rates tend to follow.

The bond market can be affected by various factors beyond the Fed’s rate cuts, such as inflation expectations, economic stability, and even global events. When investors expect inflation to rise, for example, they might demand higher yields on bonds, pushing mortgage rates up even if the Fed has cut its own rates.

2. Economic Uncertainty and Market Volatility

In times of economic uncertainty or heightened market volatility, mortgage rates can increase because lenders need to account for increased risk. While the Fed might lower rates to stimulate the economy during such times, lenders may view the situation differently. They may become wary about long-term risks, like defaults or inflation, and seek to protect themselves by raising the rates they charge to consumers.

For instance, during a financial downturn, investors often flock to safer assets, like Treasury bonds, which can drive bond yields down. However, if the economy is particularly unstable, lenders might still charge higher mortgage rates to compensate for potential losses.

3. Inflation Expectations

Inflation is another crucial factor that affects mortgage rates independently of Fed rate cuts. Mortgage lenders want returns that outpace inflation; otherwise, they effectively lose money over the long term. If inflation is expected to rise, even if the Fed has lowered rates, lenders will often raise mortgage rates to offset the devaluation of the repayments they’ll receive in the future.

For example, if inflation is projected to be 3% over the next decade, lenders might increase mortgage rates to ensure they still earn a profit after accounting for inflation. When inflation expectations rise, mortgage rates often rise alongside them, regardless of the Fed’s moves.

4. Supply and Demand in the Mortgage Market

Mortgage rates are also influenced by supply and demand factors within the mortgage market. When demand for mortgages is high, lenders may increase rates, knowing that there’s enough consumer interest to sustain the demand even at higher rates. Conversely, if demand drops, lenders might lower rates to attract more borrowers.

A Fed rate cut may increase demand for loans in general, but if lenders are overwhelmed with mortgage applications or prefer to focus on other types of loans, they might not pass on the lower rates to mortgage borrowers. The balance between how many people are looking to take out mortgages and how willing lenders are to issue them plays a significant role in where mortgage rates settle.

5. Credit Risk and Loan Standards

Mortgage rates are influenced by how lenders assess credit risk. If the economic environment is uncertain, lenders might perceive a higher risk of borrowers defaulting, which could lead them to tighten loan standards and increase rates. Lower Fed rates might make borrowing cheaper in other areas of the economy, but if mortgage lenders are wary about issuing loans, they might keep mortgage rates high to balance that risk.

In addition, as the Fed cuts rates, there can be a surge in refinancing activity. If lenders’ resources are stretched due to high volumes of applications, they might raise rates temporarily to manage the influx, slowing demand to a manageable level.

6. Global Factors and Geopolitical Events

Mortgage rates in the U.S. are also affected by global economic and political factors. Events like geopolitical tensions, currency fluctuations, or economic downturns in other major economies can impact U.S. financial markets and, by extension, mortgage rates. For instance, if investors pull funds from U.S. markets due to a global crisis, Treasury yields might rise, which could lead to higher mortgage rates domestically.

Global factors can sometimes create a situation where the Fed’s actions are overshadowed by larger, international economic trends, further complicating the link between Fed rate cuts and mortgage rate behavior.


The Bottom Line

In summary, while the Fed’s rate cuts are a powerful tool for influencing the economy, their effect on mortgage rates is indirect and often overshadowed by other factors. Mortgage rates are driven by the bond markets, inflation expectations, supply and demand, credit risk, and global events, all of which may counteract the Fed’s efforts. Understanding these nuances can help borrowers make informed decisions, especially during times of economic uncertainty when mortgage rates may behave unpredictably.

So, next time the Fed announces a rate cut, remember: it doesn’t automatically mean lower mortgage rates. Instead, stay informed about economic trends and consult with financial experts to gauge the right time for mortgage-related decisions.

Are Illegal Aliens Performing Inspections and Property Preservation?

We are hearing about firms deliberately hiring illegal aliens, throughout the Industry, and then turning their illegal status against them when they ask for their pay. Simply look at the Jonnie Rumbaugh — Eviction Enterprises — case if you think there is no refusal to pay ongoing in our Industry. And it is far more wide spread than thought. Whereas NAMFS member fraud was at historic lows, it has begun to rear its ugly head, once again, as seen in the Eviction Enterprises case. This is due, in part, to massively low volumes. ATTOM, a leading curator of land, property data, and real estate analytics, today released its Q3 2024 U.S. Foreclosure Market Report, which shows a total of 87,108 U.S. properties with a foreclosure filings during the third quarter of 2024, down 2 percent from the previous quarter and down 13 percent from a year ago. Moreover, though, it is the layout of the foreclosures that is increasing the fraud. Take Montana, for example, only having 42 foreclosures or South Dakota with 35. The requirement to cover these massive geographic areas with only a handful of assets is not supporting the wages for the bloated staff and aging facilities they occupy. Lenders repossessed 8,795 U.S. properties through foreclosure (REO) in Q3 2024, up 1 percent from the previous quarter but down 12 percent from a year ago.

As we reported earlier, immigrants make one in four construction workers. The share is significantly higher (31%) among construction tradesmen. In some states, reliance on foreign-born labor is particularly evident, with immigrants comprising 40% of the construction workforce in California and Texas. Supported by a substantial increase in immigration to the United States since 2022labor shortages in construction have eased but remain elevated. The two most prevalent construction occupations, laborers and carpenters, account for over a quarter of the construction labor force. A third of all carpenters and 41% of construction laborers are of foreign-born origin.

When looking at our Industry, NONE OF IT requires any type of licensing. It is 100% labor based. Ergo, the stats above are critical to understand. Other than the IAFST University, there is no certified training. And no firm requires that you to be a US citizen or authorized to work in the United States. Virtually all other occupations in the US require I-9 validation through e-Verify, a US government web-based employment eligibility verification system.