bradenton foreclosures: Conflicts of interest? Loan servicer pulls one on the investors too. - 11/03/09 05:47 PM
I just attended a Foreclosure rescue seminar this past weekend. One of the things that I learned is their is another victim besides the homeowner, the INVESTOR. These "mortgage backed securities" were supposed to be safe investments. Triple AAA rated, SAFE, reasonable returns. The kind of investments that were sold as low risk. They too are being burned in this real estate bubble.
The people in the middle: servicer(s), and the firms that sold these mortgages to the investors got their profits and no consequence.
The homeowner loses their home and credit, and the INVESTOR that actually put up real money, takes the loss. No one … (2 comments)
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bradenton foreclosures: Are foreclosures contagious? - 10/29/09 09:19 PM
High schools try to get pregnant teens out of the main student population. Pregnancy can be contagious among teen girls.
People that get the flu are told to stay home, and away from other people. The Flu is contagious.
When there is group of people clamoring around a sales rack, grabbing an item quickly and decisively, other shoppers can be influenced to do the same. Like when there is a hurricane warning and people start hording items. Shopping can be contagious.
I think that foreclosures are also contagious. One family on a street runs into hard times, gets late on their mortgage payments, … (1 comments)
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bradenton foreclosures: 7 things I learned doing short sales for past 3 years - 09/09/09 07:50 AM
I have now have closed a lot of short sales in the past three years. My words of wisdom for buyers, and sellers who are considering a short sale. Short sales can be a great deal typically selling for 10-20% below current market value. BUT, they have a tendency to frustrate buyers, and sellers in the process.
Patience, involvement and realistic goals are helpful to get a short sale closed. Either everyone wins, or everyone loses. The buyer gets a great home, for a fair price. The seller gets rid of a home that is under water, and can potentially wipe … (18 comments)
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