Low mortgage rates and large down payments are how buyers today are able to afford these lofty prices. Wondering where the big money comes from? Some of it could be from cash-out refinances: The article has a couple of other zingers too - excerpts: In recent years,...
Readers have wondered about the story of the billion-dollar property being bought for $100,000. It was the lender (who was the previous owner) who got the property back, and who is now in position to make a tidy profit on their original $45 million mortgage: On...
Hat tip to Rob Dawg for sending in the latest sighting of the guy who was the face of the mortgage crisis. Here are two links that outline his story: [button...
Jim the Realtor on cnbc - does the advice sound familiar? Hope for Housing? from CNBC.
Now that the big investors have virtually stopped buying homes, a legislator wants to find a way to regulate them. Typically the term “institutional investor” refers to private investment firms that buy dozens of residential properties with the explicit aim of...
Here is a bunch of happy talk by three ivory-tower guys, but they never considered the consequences. Preventing foreclosures and pushing down mortgage rates helped to create a safety net that caused buyers to rush back into the market. Prices went up too quickly,...
Kamala Harris, who has been dubbed the 'female Obama', is likely to run for president of the United States - possibly as soon as 2020. This is a long article on her performance in public office: LINK This excerpt summarizes the impact from her $20 billion foreclosure...
An employee of the Bank of America recently told me that they are not extending any of the loan modifications that have been issued over the years, to which I chuckled. "What are they going to do, foreclose?" "Yes" was the response, which got a chortle out of me. ...
It's been well-documented that Ben Bernanke and others told mortgage lenders in 2011 to not do anything to disrupt the economy, which was gov-speak for lay off the foreclosures. Kamala Harris virtually outlawed foreclosures in California with the Homeowners' Bill of...
The latest foreclosure numbers are out, and we're down to less than 1% of all mortgages being in foreclosure: The national foreclosure inventory – the number of loans in the foreclosure process – fell 29.6 percent year over year in August 2016, according to the latest...
