How to Land a Foreclosure House
How to Land a Foreclosure House
September 28, 2009, Wall Street Journal
Buying a foreclosure home often is appealing to house hunters trying to stretch their dollars. But finding a good one can be a challenge. So, if you're considering the purchase of a home that's owned by a bank, you'll need to do some homework. For a fee, other sites will hunt down properties for you. RealtyTrac.com, which helps people find foreclosure and pre-foreclosure properties, charges $49.95 a month, after a free seven-day trial. The company also recently launched BankHomesDirect.com, which charges $19.95 per month and lets people search just for REOs.
The Mortgage Machine Backfires
September 28, 2009, New York Times
With the mortgage bust approaching Year Three, it is increasingly up to the nation’s courts to examine the dubious practices that guided the mania. A ruling that the Kansas Supreme Court issued last month has done precisely that, and it has significant implications for both the mortgage industry and troubled borrowers.
More Bank Failures Expected
September 28, 2009, Sarasota Herald-Tribune
Late last year, Florida bank expert Ken Thomas forecast about 100 U.S. bank failures in 2009. With three months to go, Thomas is just five shy of his mark. How many more will fall? Bank analyst *** Bove predicts 150 to 200 additional bank failures during the cycle, while analyst Meredith Whitney believes more than 300 will go down.