Got Foreclosure! - Blog

I can’t believe we’ve already hit the second quarter of this year… Are you setting yourself up for remembering 2008 for all the right reasons? Here is a run down of noteworthy foreclosure blurbs for the week:1. It seems that lenders have little left to hide among federal relief plans and in-house foreclosure ”work-out” schemes. This blog has several good articles about Countrywide and other hard-hit lenders.2. A piece of “good news” surrounding the foreclosure wave comes from bankruptcy lawyers and their entourage: “US crisis manna for bankruptcy lawyers, foreclosure experts“3. “Is it time to buy yet?” - this question comes up in almost every conversation with potential buyers these days. Good idea to consider not only the price development, but also the changes in lending, available loans and interest rates.In many areas in California, bank owned properties are LISTED for as low as 40% of the peak value of comparable properties in 2006/2007.Combined with low interest rates, qualified buyers could end up with monthly payments of about one third of a purchase in 2006 in the same area. - (If you are looking to buy amazing foreclosure deals, sign up for our buyers list here!)Amazing how this change happened in such an incredibly short time frame!Gosh, I sound like a real estate agent in this post…Happy April Fool’s Day! - Leave a comment.