hard money: mortgage turmoil
- 03/30/07 06:32 AM
Federal Reserve Chairman Ben S. Bernanke few weeks ago blamed loose lending for the recent turmoil in the mortgage market and told Congress that "it's worth looking at" the idea of creating a law against certain lending practices. Is fit a sign that the congress would bail out the family's who are in foreclosure. Or they are trying to create "emergency fund" for coming disaster to come. Thirty-four percent (34%) of the homeowners don't even know what kind mortgage programs they have. The housing boom, made mortgage lenders loosened lending standards and offered more and more so-called non-traditional and subprime loans to borrowers who … (0 comments)
hard money: people who would make money in foreclosure market
- 03/17/07 04:36 PM
It is really sorry to say in foreclosure market we have a lot family's losing their house. But their are a lot of "business minded" people who have taken advantage of this distressed home owners. Just a word of caution to make sure that you need to know the people who you are dealing with.
*get a reference of the investor "buyer" *talk to an attorney *talk to your familiy member, is that the l"ast option you have". *get every thing in writing … (1 comments)
hard money: sub prime stock's are up >?
- 03/16/07 10:45 AM
With the meltdown at an all time high, stock like Accredited, Fremont, and New Century has been up over 50% percent for the past two days. Courtesy of Credit Suisse literrally bailing them out of debt, they have bought their notes in a big discount, bringing their stocks 100% within the space of 2 days. Added the rumour Goldman Sachs might buy them. Adding all the sub prime stocks boosting their stocks in the double digit. The FED's might help to bring the interest down, by the virtue of default rising. The whole economy being affected by the tight purchasing power of consumer. … (0 comments)
hard money: grim news of foreclosure in the late night news
- 03/14/07 02:58 PM
NBC News reported the grim news last night that foreclosures are now 4 times higher than they were in the year 2000, the rate of failures are growing daily and that there's no end in sight.
The stock market crashed on worries about all the "bad" news. It's fascinating to watch this (well-understood and accuratelyforecasted) situation going on with foreclosures right now. None of us who are real estate entrepreneurs are the least bit surprised about what's happening. We predicted exactly what you see - mass foreclosures, mass chaos, mass financial losses and the best part..., mass fortunes to … (0 comments)
Even buiders are foreclosing to save some money ! Oh my God, what the heck.. This is a complete highway robberry, this folks are making billions & billions of dollar a yeat. I guess they won't mind doing it, because some of folks in sub prime category are doing it too ! This is really an interesting news, you have a fortune 150 filing a foreclosure, to save some money. But that is a smart move for the company, to even make share holders happy, in this kind of … (1 comments)
hard money: what is a sub prime mortgage
- 03/04/07 04:04 PM
Subprime mortgages are offered to home buyers who fail to meet the strictest lending standards. While these loans remain a small part of the home lending industry, they've helped more people buy homes who previously couldn't afford it, helping to fuel a surge in housing prices in 2004 and 2005. By cutting off access to credit for these extra buyers, demand for homes may fall further, depressing prices and fueling a broader slowdown in the U.S. housing market. If a client is not able to meet the A paper guidelinets, they are transfered through sub prime guidelines. Lately all the sub prime … (0 comments)
hard money: Nervousness: sub prime in real trouble
- 03/04/07 03:46 PM
Federal bank regulators demanded tougher standards for subprime loans, saying they're worried that borrowers of adjustable-rate mortgages may not understand the risks associated with them. Overall, many market watchers are blaming the complacency that had seeped into markets over the past year, and especially the U.S. market's uninterrupted run higher since last summer. We had the longest period of market gains without as much as a 2% pull-back since the 1950s," said Spencer Clarke's Sheldon. "Now we're going through a period where risk tolerance levels are adapting to a normalized environment." Tightening credit conditions in the U.S. could worsen … (0 comments)
hard money: who cares if you miss a mortgage payment ?
- 12/24/06 09:08 PM
What happens if you don't make your monthly mortgage payment? In some cases, the original lenders are taking the biggest hits. In typical contracts, mortgage banks agree to buy mortgages back from Wall Street in the case of a payment default within the first 90 days. H&R Block (owner of Option One Mortgage Corp.) set aside $219 million for buybacks. Defaults forced Fremont General Corp to buy back more loans totaling $238 million in the 2nd quarter. But Wall Street is hurt as well. A few lenders have refused to buy back loans, prompting arbitrations and lawsuits. EMC is suing MortgageIT over … (2 comments)
hard money: A Guide to Selecting Whether to Work With a Broker or a Direct Lender
- 12/22/06 06:31 PM
A Guide to Selecting Whether to Work With a Broker or a Direct Lender Hard Money Lenders are in the business of providing loans and loan services to people who require hard money loans (loans collateralized by real estate.) Hard money lenders may be direct hard money lenders or hard money brokers. Most hard money lenders are, in actuality brokers. Some hard money lenders are both brokers and direct lenders. In these cases, the hard money lender generally funds one or up to a few small loans per year and serves in the broker capacity to clients for the balance of loans … (1 comments)
hard money: hard money mortgages
- 12/22/06 06:28 PM
Hard money comes in many flavors; one of the most common is mortgages. Using the owner's equity in real estate, hard money lenders generally lend 65% - 70% of the value of real estate property. In general, hard money mortgages are used for commercial purposes. However, they can also be applied to residential properties. In this instance, the loan is generally referred to by its more genteel name: a non-conforming mortgage. Lending criteria for hard money mortgages are fairly simple. The loan is based on the value of the ‘subject property' - either real estate owned or about to be purchased … (0 comments)
hard money: Utilizing the advantages of hard money to help build up your real estate equity and investment portfolio
- 12/22/06 06:27 PM
Real estate investing is one of the most common uses of hard money funds. Real estate investing is a cash intensive financial activity. In order to take advantage of ongoing projects, investors often require more operating capital than conventional banks are prepared to provide on short notice. When conventional financing takes too long or is not available due to low FICO scores or some other reason, hard money can be a deal saver. If you invest in a lot of property, your FICO score can plummet simply due to the number of mortgages you owe! Alternatively, the properties that can be … (1 comments)
hard money: you got to read this ....
- 12/14/06 07:15 PM
Thirty per cent of the Chinese population will be over age 60 by 2050! That's four hundred and thirty-two million people. Demographers sometimes say that "China is in a race to get rich before it gets old". Here in the US, according to U.S. News & World Reports, a survey conducted by the Employee Benefit Research Institute in Washington, D.C. found that 66% of Americans are confident in their ability to save enough money to live comfortably in retirement. Yet according to EBRI, 68% have saved less than $50,000 in their retirement funds. Are these the same folks that are using … (0 comments)
hard money: hard money ~ loan
- 12/11/06 10:36 AM
Hard Money is a diversification to an already used income stream.Loan Officers don´t use it as much as they could out of some unknown reason? Not quite sure if it´s education of products or fear of telling someone about a 12% rate,The rates are obviously a difficulty to the product but I found it to be a process more than an issue. I have and will continue in this region as it ads a HUGE opportunity where there wasn´t any. NOD´s, NOS, Foreclosures have a place w/ HM lenders but mostly the purchases of dilapidated or below market values and land … (5 comments)
hard money: hard money
- 12/11/06 10:34 AM
Hard money is based on equity. Appraisals are looked at with a closer eye than a Subprime/a lender. If the value isn´t there, and your appraiser is pushing value, you will get an appraisal cut. Instead of telling your appraiser what you "need" the value to be, just let your appraiser do his job and see what happens. Most hard money lenders aim to refi people in foreclosure, BK, NOD... the nasty stuff. They don´t look at wether or not the borrower can afford it (hence all the stated products out there), they see the benefit of the loan as … (2 comments)
hard money: Hard money doesnt mean stupid money---Hard lenders read:
- 12/11/06 10:32 AM
Ive been watching the requests multiply for 'hard' money, and some of them border on the ridiculous. Hard money lenders are not stupid,(well, most of them anyway) and there is usually more at stake for them than a regular wholesale selling off to a big investor. They are driven more by the property and probably wont loan 100% on your lean-to on cardboard foundation with a catch basin for rain water to a borrower in chpt 7 and in jail for murder. Without giving your info so this doesnt become an ad---any hard lenders want to shed some light to the … (0 comments)
hard money: Realtor, Builder Campaign Tries to Turn Market's Tide
- 12/09/06 10:54 PM
Seminar offers optimistic outlook for Jacksonville home market RISMEDIA, December 8, 2006-(MCT)-In the wake of fewer home sales and increasing inventory, local home builders and Realtors are arming themselves with a weapon they hope will help turn the tide in the local market: Information. A seminar on Tuesday held by the Northeast Florida Builders Association gave an outlook for Jacksonville's home market and reasons for optimism among builders and Realtors, who face a market much slower than that of 2005. Most speakers at the seminar hit the audience with a similar message: "Now is a great time to buy." The seminar … (0 comments)
hard money: Fannie mae? are they doomed
- 12/07/06 06:56 PM
How much do you care about FHLMC & FNMA? An article in yesterday's Wall Street Journal mentions that "home builders and real-estate brokers oppose any effort by the government to shrink Fannie and Freddie, contending that their purchases of mortgages are vital to the housing market. With the housing market in a slump, members of Congress may be particularly wary of scaling back Fannie and Freddie. The two companies argue that their presence in the mortgage market is needed in case other investors grow skittish about funding home loans. But Federal Reserve economists have argued that the two companies don't … (0 comments)
hard money: ownit mortgage is gone ~ who is next to come... dooms in the mortgage industry is coming!
- 12/06/06 05:38 PM
People doing business with Ownit Mortgage received this notice yesterday: "It is with deep regret that we inform you Ownit Mortgage Solutions will cease operations on December 6, 2006. For the past three years, we have pursued a mission to influence the mortgage industry toward increased affordability options for a changing market of home buyers. Change takes time, and we are saddened that the current unfavorable conditions of the mortgage industry did not afford us sufficient time to see our mission through." There are many rumors about what happened; most focus on Ownit being overwhelmed by repurchase requests.
People in … (6 comments)
hard money: home equity line ~ where are you!
- 12/06/06 05:35 PM
For borrowers, opening a home-equity line of credit is no longer a slam dunk for three reasons: the rates are higher than they were three years ago; if prices slip a borrower could owe more than their house is worth, and the cost of construction may actually be greater than the run up in home value. Despite all of this, borrowers may still want to tap their equity - it's fairly easy, and interest on as much as $100,000 in debt is typically tax deductible. Borrowers are making smart renovations to houses in which they plan on staying, they are … (0 comments)
hard money: don't be the last to default
- 12/05/06 08:02 AM
California home-loan defaults rose to their highest level in four and a half years last quarter as lower sales of houses and condominiums and slowing price gains made it harder for homeowners to sell and pay off mortgages. Banks and other lenders sent 26,705 default notices to California homeowners, more than double the 12,606 sent a year earlier and up 28% from the second quarter. And homeowners are not being saved by increasing values. Unfortunately California sales seem to be indicative of a national trend, and it appears that US new-house prices will fall this year for the first time … (0 comments)
Federal Reserve Chairman Ben S. Bernanke few weeks ago blamed loose lending for the recent turmoil in the ;)
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