In the late 1990s country music star, Trisha Yearwood, had a hit song titled Walkaway Joe. The title of that song would be an apt description of many borrowers today. These people invested in real estate by leveraging themselves as much as possible. Many of them bought homes with little or no money down.
The […]

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Readers of this blog fully understand foreclosures are on the uptick and will likely to stay that way for the remainder of the year. However, some people may not fully realize the challenges being mounted against foreclosures from all fronts.
It seems the lenders/banks have it had too easy for too long and have become complacent […]

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The last posting I had last week generated much discussion–I advanced the argument that the real estate mess we find ourselves in, and the resultant global credit crunch, is not likely to end anytime soon. And, that unless one happens to know what one is doing, this is not a very good time to learn […]

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REO stands for real estate owned. This term is used when referring to a home that has gone through the foreclosure process, failed to find a buyer at the auction, and is now owned by the bank.
One of the benefits of buying a bank-owned REO property is that investors can purchase the home free […]

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Could that be some light, just a little light at the end of the tunnel?
It seems as if, in recent weeks, there has been a steady drumbeat of bad economic news all traced back to that original subprime mostgage crisis.
The near collapse (okay, some may argue it was an actual collapse) of Bear Stearns […]

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Is the United States going broke?
Many would roll their eyes at this notion; they would tell you that the country has never defaulted on its debt that its long-term interest rates are historically low; that the dollar is the world’s reserve currency; and that China, Japan, and other countries have an insatiable demand for U.S. […]

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Last week I wrote an article about “Lucky”, the wanna-be real estate tycoon (article). The article was meant to be a tongue-in-cheek story, yet many people took it seriously. The fictional character “Lucky” was a composite of many people that I have met over the years. He was portrayed as someone who wanted to get […]

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