Musings On The Most Recent Financial News - 04/23/10 09:53 AM
Profiting from the Disaster
By Rob Minton & John Mazzara
Obviously, I don't know where you stand on the issue of financial reform, the tighter policing of Wall Street, but if you haven't at least thought about it recently, you're either hiding under a rock or you haven't heard about the allegations against Goldman Sachs.
The United States Securities and Exchange Commission has levied a civil fraud suit against Goldman, basically accusing the banking giant of creating an investment product designed to fail, then betting on its failure to the tune of major profits.
Most of that probably isn't that disturbing … (0 comments)

Twin Cities Real Estate Market Benefits From Short Sale Secrets - 04/16/10 08:58 PM
I have just created a new website at http://www.ShortSaleSecrets.org  This site is an extension of my membership and involvement with the CDPE institute.  This site has a number of FREE homeowner reports as well as a survey for homeowners in distress to take to see which programs they might be able to qualify for.  If you know of someone who is underwater on their home and needs to find out some of their options, send them over to the site for information.  I have other reports as well.  In Minnesota, we also have an outstanding non profit which provides reports, resources … (0 comments)

Deed In Lieu Of Foreclosure Allows For Fannie Mae To Write A Loan Sooner - 04/16/10 08:19 PM
BIG BIG NEWS!!!!
Today, Fannie Mae announced to their lenders that they will loosen the underwriting guidelines for borrowers who have done a deed in lieu of a foreclosure.  They are going to reduce the "time in the penalty box" from 4 years to 2 years!!  The borrower will have to put down a 20% down payment as well.  This all happens on July 1st.  This is ABSOLUTELY huge news in my opinion, as it creates a "workout" incentive to borrowers.  If they keep coming up with "make sense" underwriting rules like this, we will be able to work our way … (0 comments)

Minnesota Home Values Rebounding-At Least Under 200K - 04/16/10 08:13 PM
The GOOD news is that home values have been rebounding.  In fact, if you go to http://www.MplsRealtor.com and look at market activity, you will see an increase in values.  At the same time, there are almost 8M homes in default and both foreclosures and bankruptcies are projected to increase to record levels over the next two years.  So how do you reconcile this inconsitency?  It all has to do with price range.  The higher end homes are still experiencing a softening in price.  In fact, due to a real lack of mortgage options at this price point, you will find that … (0 comments)

Minneapolis St Paul Homes In Foreclosure Or Distress - 04/06/10 01:56 PM
Does It Make Sense to Get Into The Market for Troubled Homes?
In March, RealtyTrac, a leading online market for foreclosure properties, reported that February 2010 foreclosures were actually down 2 percent from the previous month.
Yet, RealtyTrac indicates this break might not last long.  Even though the 6 percent year-to-year increase in February foreclosures was "the smallest annual increase" RealtyTrac recorded in 50 straight months, it believes that current foreclosure prevention programs and processing delays are keeping a lid on the numbers. If those programs end and processing glitches lift without an upswing in the economy or job market, … (0 comments)

 
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John Mazzara CFP CLU CHFC CEBS MBA MS CMB

Edina, MN

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Address: 7300 France Ave S #410, Edina, MN, 55435

Office Phone: (952) 929-2577

Cell Phone: (612) 386-7027

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Information about minnesota real estate, twin cities real estate market, the twin cities, twin cities relocation, and other things that might be fun or of interest. Articles will be posted that describe the real estate and mortgage markets and provide useful information to first time buyers, move up buyers, and investment property buyers. http://www.MinneapolisStPaulHomes.com or http://www.MinnesotaRealEstateBrokerBlog.com NMLS-John Mazzara #332556 NMLS Venture Development #373115


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