If you haven’t heard, the subprime market is a disaster these days. “Latest count of major US mortgage lenders that have croaked since late 2006” has now reached a disastrous number: 50
We’re staring some scary circumstances in the face as investors and while I fear some of the consequences with interest rates and diminishing programs for investors, I realize there is still hope.
It’s important to recognize that as lending laws and rules tighten up and change, so does the market. More and more sellers are left with homes on the market for longer periods of time and as a result, the prices are dropping because people can’t get the loans they once could. So, the financing has actually gotten a little bit more fun these days. Now, you’ve got sellers who are dying to move their properties and not only will we be able to get better prices in many markets, we’ll also be getting terms that work to our advantage as investors.
For all your damsels in distress, never fear. Seller Financing is here.
In the wake of so much turmoil, those who are on top of their game will recognize that there is a “time and a season for everything” under the sun. Ladies and gentleman, it’s time for the sellers to start coughing up some better terms.
So, for all you nervous investors, lay your worries to rest. The investment market just got a little bit more fun.
Stop by your local desperate seller for better prices and more interesting terms.