‘mortgage crisis’ Articles

- Lucky:– We dodged several bullets before landing this foreclosed home.– The Venezuelan couple lost their homes.– Many people we met over the past few years lost investment properties.– We learned that banks are indifferent about helping people upside-down in their mortgages. We also learned that banks selling foreclosures [Continue]

- And now, the bank is afraid of us:– First, Suntrust (the mortgage provider) had us pay off a small line of credit.– A week later, they were asking about my student loans.– Instead of addressing all the issues with my credit up front, it seems like there are several reviewers who find something different [Continue]

- Lee County:– Homes were selling for under $200,000. Big homes. On .25 acre lots! What a revelation!– We decided to wait, to get to know the neighborhoods.– There were 3 bed/2 bath homes renting for $800 to $900 per month.– We ended up rented a smaller 2 bedroom apartment that was near the beach, [Continue]

- Lake Worth:– We got tired of looking in Broward. The townhomes in our price range were too small, usually with only one bathroom.– We found a duplex in Lake Worth that was in our interest-only price range.– We were working with a different real estate agent, and the same Peruvian Broker.– The Broker and [Continue]

- How they did it:– Beginning of 2007: there are for-sale and for-rent signs all over South Florida. Pick any random street, and they were there.– We both had the impression that Real Estate Agents were holding the prices steady. We kept hearing stuff like, “The market will turn around,” or “The prices have hit [Continue]

- Credit:– Since I grew up here, I had the opportunity to get credit cards when I was in college and screw up my credit. – People like the Venezuelan couple come to the States when they are older … their credit history is clean, and [Continue]

Goldman Sachs and Morgan Stanley are no longer investment banks? Breath-taking. This move is clearly a matter of perception, since neither bank was doing poorly. As far as I’m concerned, this so-called crisis has already reached it’s bottom when Fannie Mae, Freddie Mac, and AIG were saved by King Paulson. There may be smaller bank [Continue]

From Reuters: But Lehman soon emerged as Wall Street’s next domino as real estate loans and other toxic assets increasingly weighed on its balance sheet, especially after the collapse of Bear Stearns Cos Inc in March. I really don’t have much more to say about this that I haven’t already said [Continue]

- Hurricane Wilma:– After Hurricanes Charley, Francis, Ivan, Jeanne, Katrina, Rita, and Wilma hit Florida, Louisiana, and Texas … it made sense that a lot of people would want to sell and move north, with few buyers interested in coming down south after witnessing the damage from afar. Too many sellers, too few buyers. I [Continue]

Florida, along with California, Nevada, and Arizona, have been the hardest hit states in this current Mortgage CRISIS. As someone who has been hunting for a reasonably priced home since the end of 2006, and someone who knows people who purchased properties during the past four years, I’d have to say I have tons of [Continue]