By Mike Colpitts Editor As the nations real estate crisis worsens beyond what once seemed unimaginable, a new Housing Predictor analysis shows that the crisis will deflate the value of U.S. homes in the majority of the country between 55 and 70% on average from the markets highest peaks. The amount of deflation depends on… Continue reading Lending on Steroids Triggers Bigger Bust
Category: Loans
Time to Buy or Rent Housing
By David Wilkening Conventional wisdom has it that rental housing is throwing money away. But is it really in these times? Not necessarily. It depends in part on where you are located, but in many areas of the U.S. rents are being held down by the dramatic overbuilding of homes and condominiums. In hyper overbuilt… Continue reading Time to Buy or Rent Housing
Finding Money in a Short Sale
By Tony Evans If youre a homeowner and want to save your credit and eliminate foreclosure proceedings, selling your home through a short sale just might be the ticket. So turn on your computer printer because youll want to print this column for future reference. See how the BUZZZ is taking care of you! There… Continue reading Finding Money in a Short Sale
Selling Real Estate without Silent Second Mortgages
By Mike Colpitts In these challenging days of selling real estate “silent second” mortgages are making a quiet, some what frightening, most often times illegal comeback. Silent seconds as they are called in real estate parlance are second mortgages, which are not revealed to lenders and can find the user’s behind bars in the local… Continue reading Selling Real Estate without Silent Second Mortgages
Stealing a House in a Short Sale
By Tony Evans Everybody wants to know how to steal a house, and there are plenty of people trying to these days. Say youve missed some mortgage payments and think maybe youll be able to “catch up” later on, but you cant. You call your lender explaining your ‘temporary problem,’ but they cant think of… Continue reading Stealing a House in a Short Sale
Bulk Government Foreclosure Sales Start
By Mike Colpitts The U.S. government is starting to sell-off its massive over-supply of foreclosed homes to investment equity firms at major discounts in a controversial trial program that could result in the future sale of hundreds of thousands of similar homes for pennies on the dollar. The Federal Housing Finance Agency (FHFA) announced the… Continue reading Bulk Government Foreclosure Sales Start
Home Mortgages and Refinancing
Mortgage rates have been on their way down after the Fed cut the prime rate to near historic lows in an effort to help stabilize the economy. More than 5-million homeowners are facing re-adjustments in their adjustable rate mortgages nationally in 2009 and 2010, and the drop in home borrowing rates will provide the difference… Continue reading Home Mortgages and Refinancing
Weak U.S. Dollar Gives Foreign Buyers Edge
By Robert Jones With real estate prices in most U.S. cities heading south, many would-be sellers are looking south for their salvation. They’re also looking north, east, and west any place, where there might be buyers with wads of currency that isn’t colored green. The weak dollar may be emboldening foreigners to buy in… Continue reading Weak U.S. Dollar Gives Foreign Buyers Edge
Foreclosures Increasing on Home Equity Losses
Home equity losses are increasing the number of foreclosures as millions of Americans are becoming upside down in their houses, and more are joining the ranks daily. Being upside down in your house can be a nightmare. More homeowners are finding themselves in this precarious position, and by growing numbers homeowners are walking away from… Continue reading Foreclosures Increasing on Home Equity Losses
Is Now the Right Time to Buy a Condo?
Is it Really Time to Buy a Condo? By Robert Jones Inventories are rising, prices are falling, investors are bailing out, and developers are getting desperate. For someone with a little extra cash, this may look like the perfect time to buy a new-construction condo. After all, youre getting a brand-new building with slick finishes… Continue reading Is Now the Right Time to Buy a Condo?