Archive for December 8th, 2008
The main reason for the rise in short sale real estate
December 8th, 2008
A surprising number of people are using the phrase “real estate short sale” currently and that has drawn a number of curious people to wonder what all the commotion is all about. Anyone who has read newspapers or watched TV has probably come across some sort of stories about the declining real estate market leading banks to consider real estate short sales as an alternative to foreclosure. Real estate prices have dropped dramatically, and the sell time has risen as well. Detroit and similar regions are, it is fair to say, experiencing a full real estate market meltdown. These declining real estate markets are the main reason for the rise in short sale real estate.
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Mortgage Financing in Today’s Credit Market
December 8th, 2008
The subprime meltdown and the subsequent credit crunch have completely transformed the US mortgage industry.
The past decade has become a distant memory, with almost all financing options beyond conservative “vanilla” 30-year fixed and 15-year fixed loans no longer available. The remaining mortgage products demand full proof of income, excellent credit, and a history of stable employment. Wow….these new rules are in reality just a return to the previous mortgage guidelines that existed before the mortgage market exploded with creative options.
Post Mortgage Meltdown:
