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Entries from January 2008

Banks Need to Pony Up… This Foreclosure Crisis isn’t a Bed of Roses…

January 29th, 2008 · No Comments · Daily Musings, Foreclosure, Foreclosure Market, Foreclosure News, Foreclosure Resources, Mortgage, Real Estate Downturn, Workout Specialists

We, as a people, have become desensitized by the lack of trust that is demonstrated in many segments of our society. 
The government questions the longevity of social security, a trusted legacy for many generations; many pension funds have disappeared, leaving millions without suitable retirement; and now, many banks are having to take away the consumer’s […]

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Workout Specialist - What’s In A Name?

January 17th, 2008 · 2 Comments · Daily Musings, Exit Strategies, Foreclosure, Foreclosure News, Foreclosure Resources, Mortgage, Workout Specialists

With the tsunami of foreclosures closing in on lending institutions, there is a growing need for workout specialists. The need is so apparent that in some parts of the country, workout specialists have coined their own title as elite members of “The Mod Squad”.
These individuals have a singular purpose:
Their objective is to minimize bank losses. […]

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Real Estate Values Dropping, A Readjustment of our Values

January 16th, 2008 · No Comments · Daily Musings, Exit Strategies, Foreclosure, Foreclosure Market, Foreclosure News, Foreclosure Resources, Real Estate Downturn, Workout Specialists

With Real Estate Values Dropping, A Readjustment of our Values.
Reluctantly…
I attribute our current downturn in real estate values and the surge of foreclosures to short-sightedness and a pinch of “greediness”. 

Overly zealous developers, catching the wave, continued to develop without consideration to future demand. 
Municipalities approved subdivisions after subdivisions because it was good for the tax base, […]

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Bank of America Buys Countrywide. What This Means To Borrowers…

January 16th, 2008 · No Comments · Foreclosure, Foreclosure Market, Foreclosure News, Foreclosure Resources, Mortgage, Real Estate Market, The Economy, Workout Specialists

I’m sure you’ve read the recent news about Bank of America purchasing Countrywide (America’s largest home lender) for about $4 billion earlier this month. 
This is a huge deal in the mortgage world… but what will this mean to borrowers who are having a tough time making their Countrywide mortgage payments?
What you will likely see is […]

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