The Long Short Sales
There are homeowners that, when faced with the prospect of a foreclosure, attempt to sell their home instead. If the home is underwater, as is the case in many areas in the US, especially in California, Nevada, Arizona and Florida, the proceeds from the sale will not be sufficient to pay off the loan and [...]
Mortgage Delinquencies Decline: What Does it Mean to Investors?
A Wall Street Journal article from 2/18/2011 by Nick Timiraos has the title: “Mortgage Delinquencies Decline”.
In the Article, Mr. Timiraos cites the Mortgage Bankers’ association survey released last week.The survey shows delinquencies are down to a level not seen since the end of 2008. Early (1-month) delinquencies are down to the level of the end [...]
Whatever Happened to “Buy Low, Sell High?”
I was leafing through a financial magazine recently, when I caught an article about real estate.
The article was about US real estate investors needing to look to buy real estate in other countries at this time.
The reason they gave? Real estate in the US is very low now and possibly might go down more or [...]
Home Ownership Down Dramatically. Renters’ Ranks Increase.
In a Wall Street Journal Article by Dawn Wotapka published on 2/1/2011, it is reported that homeownership in the US was down to 66.5% in the 4th quarter of 2010, down from 67.2% a year earlier and from 69.2% at the end of 2004.
66.5% is the lowest home ownership rate since the end of [...]
VA Foreclosures and the Great Investor Loans They Offer (to Non-Veterans)
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 [...]
Banks Lose Foreclosure Case in Massachusetts High Court – What it Could Mean to Investors
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 [...]
Foreclosures Peak, Market Bottom, Beginning of Recovery Predicted in Bloomberg Report.
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 [...]
