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A TV news segment this week showed hundreds of people filling up huge meeting rooms for a chance to bid on a bank foreclosure at an auction. The commentator said 85% of auction buyers are “end users,” ie, people who intend to live in the property, thus leaving a small percentage of buyers in the “investor” category.
Homes have become much more affordable for many prospective home owners and interest rates for mortgages are exceptionally low right now.
Does all of this auction excitement mean the U.S. housing market has …
U.S. households took on an additional $8 trillion in debt over the past decade as the housing boom drove home owners to get cash out of their equity through refinancing or equity home loans, according to a recent article in Reuters. This, in turn, made consumers less interested in saving their money as the chart below shows.
Now overwhelmed with debt, these poor choices made by consumers has resulted in a steep rise of credit card payment defaults as the next shoe is about to drop with a thud on …
Last night 60 Minutes aired an episode entitled, The Mortgage Meltdown, Where’s The Bottom?, that revealed the mortgage mess that touched off the financial meltdown is far from over, with a second wave of expected defaults on the way that could deepen the bottom of this recession.
Alt-A and Option ARMs Next To Implode
As correspondent Scott Pelley reports, it turns out the abyss is deeper than most people think because there is a second mortgage shock heading for the economy. In the executive suites of Wall Street and Washington, you're beginning …
Non bank lenders become reliable source of stated income commercial mortgage loans for Connecticut business owners despite lending freeze by banks
Commercial banks and savings institutions have been a reliable source of business financing for Connecticut’s estimated 347,600 small businesses, according to the 2007 research report by the SBA Office of Advocacy. However, the current credit freeze by banks has left many business owners in the lurch.
Fortunately, business owners have non-bank lenders as an alternative source of business financing. SmallCommercialMortgageOnline.com has a database of non-bank lenders that are able and …
Non bank lenders become reliable source of stated income commercial mortgage loans for California business owners despite lending freeze by banks
Commercial banks and savings institutions have been a reliable source of business financing for California’s estimated 3,675,700 small businesses, according to the 2007 research report by the SBA Office of Advocacy. However, the current credit freeze by banks has left many business owners in the lurch.
Fortunately, business owners have non-bank lenders as an alternative source of business financing. SmallCommercialMortgageOnline.com has a database of non-bank lenders that are able and …
Non bank lenders become reliable source of stated income commercial mortgage loans for Arizona business owners despite lending freeze by banks
Commercial banks and savings institutions have been a reliable source of business financing for Arizona’s estimated 473,000 small businesses, according to the 2007 research report by the SBA Office of Advocacy. However, the current credit freeze by banks has left many business owners in the lurch.
Fortunately, business owners have non-bank lenders as an alternative source of business financing. SmallCommercialMortgageOnline.com has a database of non-bank lenders that are able and …
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