Diana Olick’s latest column puts “principal writedown” in perspective: “The government is officially giving borrowers back home equity.
Yep, somewhere between $35 and $50 billion worth. Of course we’ve all lost over $5 trillion, but who’s counting? Lenders still aren’t required to do it, but they’re going to get an awful lot of taxpayer-funded incentives to do it€¦Let’s face it, the underwater issue (that is borrowers owing more on their loans than their homes are worth) is now far bigger than the subprime issue and the unemployment issue. Yes, it’s concentrated heavily in five states, but it still manages to plague home prices nationwide. People are walking away in greater numbers than ever before, and people who want to stay are unable to get into modification programs because of their overwhelming negative equity.
Loan modifications and principal reductions (writedowns)
raining on judgments, liens and options, Outsourcing loan modifications to attorneys, buying defaulted mortgages from the bank, social media marketing.
Our SWAT Instructor this week is Mike Watson on a new and cutting-edge investing technique: How To Get Seller Financing… From BANKS! on their Bank REOs. I know you are aware of the flood of national bank-owned properties, Foreclosures, and Short Sales. You know there are great opportunities for profit. The question is… Do you want to use the same old techniques that thousands of [...]
Our SWAT Instructor this week is Mike Watson on a new and cutting-edge investing technique: How To Get Seller Financing… From BANKS! on their Bank REOs. I know you are aware of the flood of national bank-owned properties, Foreclosures, and Short Sales. You know there are great opportunities for profit. The question is… Do you want to use the same old techniques that thousands of [...]
There is a ton of panic and confusion about a new bill that trying to get passed. It is HR1728: Mortgage Reform and Anti-Predatory Lending Act. Below is the full text of a message being circulated by concerned real estate investors nationwide. It seems to originate from Vena Jones-Cox, who has a great reputation and is a advocate for real estate investors in her own [...]
Please note I am not an attorney and this is not legal advice. This technique is used by homeowners to successfully postpone the auction and is very useful for investors who are attempting to negotiate a short sale and need more time. I have left out the state as some state timeframes are different but the principle is the same. The bank files its foreclosure [...]
