As many of you already know, the VA (Veterans’ Administration) sells foreclosed homes and offers investors (who do not need to be veterans), great VA loans called “VA-Vendee Loans”.
As of now, the terms of these investor loans are: 5%-down, 4.5% fixed-rate 30-years.
These are incredibly attractive loans for an investor, especially in the loan-stingy environment [...]
You might have heard about the Massachusetts High-Court case in which Wells Fargo and US Bancorp lost a foreclosure case. See Bloomberg story by Thom Weidlich dated 1/7/2011.
The ground for their loss was that they had transferred the mortgages to a securitized mortgage backed pool (as most banks do) but failed to do it properly [...]
A Bloomberg news article by By Dan Levy and Prashant Gopal published on January 13th, reports that Rick Shraga, RealtyTrac’s senior vice president, predicts that foreclosures in 2011 will number 20% higher than in 2010 (albeit realizing that foreclosures slowed down towards the end of 2010 due to the Robo-Signing fiasco).
Mr. Shraga also predicts a [...]
An article in the Wall Street Journal (by Dawn Wotapka 1/6/2011) , named “For Apartments, a Hot Winter”, cites data gathered from 82 major markets by Reis Inc., a New York-based research firm. The data indicates robust improvement in most apartment markets studied, including some of the hardest-hit, such as Phoenix.
Although the data relates to [...]