want to buy foreclosure properties, here are some websites - 09/02/07 03:50 PM
Psssst... wanna buy a foreclosed property? After a default and after the house does not sell at the Trustee Sale, the bank/lender owns it. As most know, this is called "REO", for Real Estate Owned. Currently mortgage companies continue selling their REO's through real estate agents, who list them on the … (3 comments)
orange county foreclosure" "blood bath" - 09/02/07 03:41 PM
Is the term "blood bath" over-used and lost its impact? "It's a blood bath," said a VP at PIMCO about the current market conditions. Yes, rates have crept up. Yes, property values have gone down in some over-inflated, speculative areas of the nation, and the national median home price may have … (2 comments)
junk mortgage bond - 09/02/07 03:38 PM
But possibly the bigger news is that S&P said that it would change its methodology for ratings hundreds of billions of dollars in residential mortgage-backed securities, and review its ratings on hundreds of billions of dollars in the more complex collateralized debt obligations based on those subprime loans. It is expected … (0 comments)
loan originators how much you made last year - 09/02/07 03:35 PM
How much did you make last year? (That was a rhetorical question.) The president of Countrywide earned $48 million, the president of Freddie Mac $15 million, WAMU $8 million, Indy Mac $4 million. According to Goldman Sachs and Wells Fargo, jobless subprime mortgage lenders are looking for employment in the booming market … (3 comments)
they would pay their credit card first, before their mortgage payment - 09/02/07 03:31 PM
In a surprising survey (very surprising?) released last week, Experian showed that data indicates that many subprime borrowers are paying off their credit card bills before their mortgage payment! Do they think that they don't have much to lose by not paying their mortgage? Are their credit cards more important? Prime … (0 comments)
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