foreclosures: Kansas City SubPrime Mortgage Statistics
- 04/30/08 05:42 AM
Where do we, as the state of Kansas, stand in the subprime mess? In March, the Federal Reserve Bank of Kansas City came out with a report on subprime loans in Kansas City. Some of the key findings in that report show that: * Over 60% of subprime borrowers are successful in repaying their mortgages but paymet deliquencies are still above national averages. Currently, 28% of subprime borrowers are past due by more than 30 days. * Kansas City borrowers had lower average credit scores but were more likely to have provided full documentation(as opposed to stated income or no documentation loans). (1 comments)
foreclosures: Foreclosures and First Time Buyers - A Dangerous Combo?
- 04/22/08 03:08 AM
Without a doubt, Foreclosed properties and First Time Buyers are my favorite types of real estate to work. All too often, especially in this market, I am finding these two groups trying to merge. Buying a Foreclosed home is not for everyone...and I believe...especially not for a first time buyer. I truly enjoy working with the novice home buyer. They are fresh. They have not been jaded by bad experiences, bad agents or bad choices that some homeowners have faced. They are hungry for information and most know how to find it. They are normally savy and have done alot of (6 comments)