foreclosure: Foreclosure auction loans?
- 01/25/08 10:30 AM
Two borrowers asked me today if I knew of any lenders who would finance homes bought at the foreclosure auction itself. I've been doing this for five years, and I've financed short sales and bank-owned properties, but I have no idea about buying at the auction itself. Has anyone actually financed a purchase at the auction? Care to share your experience with us? Best, Jordan Graham Mortgage Broker … (0 comments)
foreclosure: Subprime borrowers and Wall Street bigshots
- 06/26/07 07:20 AM
Originally published at www.thedollarlama.com The New York Times reported on Saturday that Bear Stearns is acting to bail out one of its investment funds (Bear Stearns High-Grade Structured Credit Fund) as it experiences investment losses related to the subprime loan market. Here we see two opposite ends of the financial spectrum, acting together in their own shadows. Follow me for a moment: Subprime borrowers are those with poor credit, who cannot qualify for traditional mortgages. In the aftermath of September 11th, 2001, interest rates plummeted and borrowers who could not otherwise have afforded to buy homes flocked to home ownership through subprime … (2 comments)
Two borrowers asked me today if I knew of any lenders who would finance homes bought at the foreclosure auction itself. I've been doing this for five years, and I've financed short sales and bank-owned properties, but I have no idea about buying at the auction itself.
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