Peter Pesek's Blog - Archives October, 2007

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Home : Blogs : Peter Pesek : Peter Pesek's Blog : Archives October, 2007

Hardships force homeowners, mortgage holders to accept short Sales By LESLIE BERKMAN - 10/03/07 01:51 PM

The Press-Enterprise
Eileen Capizzo gets teary eyed when she visits the "dream house" in Beaumont that she and her
husband, Joe, bought less than two years ago.
Soon after that, her husband died in a car accident and she was diagnosed with lung cancer. Now she
can't afford the house and has tried in vain to sell. Even though she paid a $100,000 down payment, she
has watched that equity evaporate as real estate prices tumble.
She can't work and has drained her savings to pay her mortgage.
She has followed the path of an increasing number of Inland homeowners and resorted to what's known
as a short sale, … (0 comments)

October 07' Real Estate Update on Market trends & Activity. - 10/03/07 01:44 PM

October 2007 newsletter - individual
THE SUB-PRIME MELTDOWN CONTINUES TO HAUNT HOME SALES... Everyone has seen the headlines of the continuing woes for lending and subsequently, home sales. The question is what does it all mean and how long will it continue? Conservatively, the lending industry has lost 20,000 jobs and countless small mortgage companies and more than a few industry giants. However, money itself is not the problem. Kenneth Harney, a writer for the Washington Post Writers Group deftly noted that money is still plentiful.
"The majority of mortgage products remain relatively unaffected by troubles in the sub-prime segment, and interest … (0 comments)

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Peter Pesek

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