Real estate blog entries tagged with foreclosure by Janet Guilbault, California Mortgage Expert (Peregrine Lending Company)

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foreclosure: You Can Sleep in Your Car, But You Can't Drive Your House: Should We Bailout The Car Companies, Too? - 10/02/08 09:27 AM

The mortgage crisis has finally hit the car business. Yep. dealerships are closing and car sales have plunged by about 35%. And while the temptation may be to think of "gas prices" as the reason, the real reason is "mortgage crisis".
Fast becoming known as CREDIT CATASTROPHE.
Did you … (17 comments)

foreclosure: Is Freddie and Fannie Bailout a Magic Pill? Or a Bitter Pill? (Gulp, Swallow....) - 09/09/08 10:22 AM

As mortgage madness dawned yesterday, it became apparent that our lenders had swallowed 2 giant aspirins over the weekend: The Freddie aspirin and the Fannie aspirin.
They woke up feeling much better.
Now, some might argue any government bailout is a bitter pill to swallow. So please excuse my short term … (7 comments)

foreclosure: Freshly Killed Mortgages and Jungle Economics - 06/29/08 11:44 PM

Here in California, its a jungle out there. Buyers have stopped waiting for houses to "GO LOWER". They are not wondering if buying real estate is a "good idea". And they sure aren't thinking about the potential for appreciation.
They have only one thing on their mind: Get in while you can. … (46 comments)

foreclosure: Another Loan Bites the Dust: What Causes A Property to be "UNACCEPTABLE COLLATERAL?" - 05/24/08 05:28 PM

Here are 2 nasty words that spell disaster for a loan: UNACCEPTABLE COLLATERAL. Do you know what this means? It means the borrower qualified for the mortgage, but the property did not. To our clients, however, a turn down is a turn down. They still take it very personally, even though they shouldn't.
Those … (14 comments)

foreclosure: Has The American Dream Been Poisoned? - 05/16/08 11:40 PM

The FORECLOSURE EPIDEMIC and the MORTGAGE CRISIS that has rocked our economy to its very core, will be discussed and debated for years to come. Historically, it will forever define this decade, and, along with 9-11, leave an imprint on an entire generation.
Will we remember this as the decade when the American Dream became poisoned? Maybe … (39 comments)

foreclosure: Ben Bernanke and The Rotten Eggs - 05/06/08 11:28 AM

Earlier this year, as Mr. Bernanke continued to drop rates, I came out with the following statement: It isn't about rates. Its about guidelines. Rates could go to 2% and real estate can be cheap, but it doesn't matter if no one can qualify for a mortgage.
Those of us in the mortgage business could easily … (8 comments)

foreclosure: One Dead Goose and Another Loan Goes Belly Up: How Declining Value Restrictions Hurt Property Values - 05/01/08 12:52 AM

She leaned against the doorway of my office, this messenger of bad news, like so many before her had done. My consolation prize? A large Butterfinger, which had been placed on my desk before she retreated quickly back to the doorway. She didn't dare to sit in the chair (and consider herself a guest in … (66 comments)

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