"I want to buy a foreclosure."
September 21, 2007 by Katie Wethman · 3 Comments
I’m interested in foreclosures is something I often hear from clients, but few people really understand the process, and specifically what it means to buy a foreclosed property. It’s not for the faint of heart. Though you can occasionally find a bargain, there are unique risks involved with buying a foreclosed or bank-owned property. First, [...]
Sub-Prime Mortgages: Crisis Averted?
September 1, 2007 by Katie Wethman · 1 Comment
I’ve posted here before that there were signs that the sub-prime mortgage mess, while unfortunate for many, was not the crisis that the press makes it out to be. The housing market is just too important to this economy, and while no one is screaming “bailout”, there have been consistent signs that the country is [...]
Sub Prime Meltdown: The Middle of the End?
May 30, 2007 by Katie Wethman · Leave a Comment
Several weeks ago I posted about Fannie Mae and Freddie Mac programs to help borrowers who are in risk of defaulting, or have already defaulted, on their sub-prime loans. By now, everyone has read of the “melt down” fueled by 2/28 and 3/27 adjustable rate loans that offered very low teaser rates back i n [...]
Sub Prime Meltdown: The Beginning of the End?
April 19, 2007 by Katie Wethman · Leave a Comment
Freddie Mac announced it will buy $20B in fixed-rate and hybrid adjustable rate mortgage products to provide alternatives for sub-prime borrowers. Both Freddie and Fannie Mae are also working on developing new loan types to help distressed borrowers keep their home. I think these announcements will limit the fall out of the subprime “meltdown”…much to [...]
FAQ: Short Sales
March 14, 2007 by Katie Wethman · 1 Comment
With all of the recent press about the crash of the sub-prime lending market, we will be seeing more and more “short sales.” What’s a short sale? A short sale occurs when a seller is in a negative equity position and either does not have the liquidity to sell (that is, they need to come [...]
