Posts Tagged ‘mortgage’
Wayback Wednesday… Recovery?
- Image by kenjonbro via Flickr
Recovery… In it or do we need to go to it? That was my question two years ago this week… and it is STILL a valid question. And two years ago, I don’t think there were many people (including me) that were expecting the housing slump to last this long.
But here we are, not knowing if a bottom to the market has been established or if there is more blood that needs to run in the streets.
At least now, more of us in the real estate community have figured out that stimulus and incentives aren’t the answer… JOBS are the answer. There are too many potential buyers out there that are worried about the security of their jobs. Demand can’t rise until buyers don’t feel threatened.
And that means that the Supply side of Supply/Demand will be out of whack… even thought the supplies have be mostly dropping for well over a year (compared to the previous year). And even though supply has been coming down, there have been reports of a wave of foreclosures just out of sight over the horizon (those reports have been with us for well over a year, too).
On the flip side, there are some pretty good deals. Mortgage rates are ROCKING… I heard a report today that rates hadn’t been this low in 60 years. If you ARE in a position to buy, it might be the best time in a generation. If not, I understand…
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- Wayback Wednesday… Add on or Get out? (lanebailey.com)
View CommentsFlashback Friday… Get Out of Your Mortgage for FREE?
- Image by cobalt123 via Flickr
Don’t expect it to actually happen… I wrote about this phenomena a year ago, and there are still lots of practitioners claiming it can be done. They all say that they have done it, but I have been able to find no verified cases where the mortgage was set aside by one of these operations… Delayed, perhaps… but not set aside.
The bottom line is that it could happen… could. BUT, it is WAY more likely that you will spend thousands of dollars on legal fees, and be strung along for months and months… or even years, and then end up in worse straights than when you started.
The line sounds great, and to a non-legally trained mind like mine, it seems logical. But, my industry friends tell me that it just isn’t realistic in the real world.
View CommentsWayback Wednesday… Don’t Hide in the Sand…
A couple of years ago I wrote about folks facing foreclosure. I would love to say that things have really changed in the last couple of years, but I can’t… They have actually gotten worse in many regards. But we might be seeing the light at the end of the tunnel… but it is just a pinprick of light…recent numbers are showing that the tide of foreclosures might be easing… if only slightly… from record levels.
View CommentsFlashback Friday… Cram Down
Last year I wrote a post about the dangers of Seller Financing. The particular danger of a year ago hasn’t come to pass… but it hasn’t gone away, either.
View CommentsFlashback Friday… GA Dream
Do you have a dream? If that dream is owning your own home, GA Dream might be for you. This post talks a little more about it, and one of my ‘GoTo’ mortgage guys handles these.
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