It seems to me, this is not the time for big changes. With values down at least 50% and as much as 80%, this is the time to make credit easier. These loans have far less risk, home values cannot fall as they did before. OK, how much they fell, what percent, does not justify…Read More→
I hope this video is helpful to you. The banks are changing again. With this change we will see a huge increase in Foreclosures over the next 6 months. So basically Wells Fargo, Fannie Mae, Freddie Mac and other large banks are changing their policy on extending foreclosure dates and close of escrow dates.
But of course they are rising. Even though record number of Short Sales are being approved, others are not. There are so many people trying to commit fraud with Short Sales it is forcing the banks to react. Plus now that values have stabilized, banks are countering the price on every Short Sale. Some buyers…Read More→
Some more good news on the REO front. That is that Fannie Mae is selling 70% of their assets, homes, to owner occupants. The 30% that goes to investors, usually won’t qualify for financing. Most of those are then re-sold to owner occupants. Word is that Fannie Mae has opened up to accept more REO…Read More→
Fannie and Freddie are in the news daily. What to do? The biggest issue I see is that banks are not responding in a manner one would expect, due to the coverage issued by Fannie and Freddie. I hear people all the time with a ton of anger against the bank and their frustration on…Read More→
ARTICLE ABOUT BANKS AND M2 I received this article from Byan Jones at the Talon Group. I think it is quite enlightening and wanted to share it with you. Now in hind sight, we clearly see the banks and lending institutions were the main catalysts to the financial melt down. Now, as the economy struggles…Read More→