Someone forwarded me an interesting email yesterday. The spammy message apparently being sent to various mortgage brokers claims that “We’ll pay you for the clients you can’t do loans for.” Here’s some of the email copy (emphasis theirs): We coach people who are underwater in their homes. We don’t do loans, we don’t sell real…
Category: Opinion
Opinion, commentary, etc.
Short Sales: What happens when the seller’s lender doesn’t provide a forgiveness letter for the deficiency?
A word from The Tim: This post is from long-time Seattle Bubble participant Tim Kane (a.k.a. “S-Crow”). With short sales becoming more common every month in the Seattle area, I think Tim has struck on an interesting topic that not many other people are talking about. We already know what a hassle short sales can…
Fast, Good, Cheap: Pick Any Two
As some of you may recall, I spent the first decade or so of my career doing electrical engineering (i.e. – circuit design, PCB layout, etc.). In that world of custom electronics, every customer seems to want their widget to cost $5, be packed with features that are 100% reliable, and have the design completed…
11.5 Million More Foreclosures? Bring Them On!
Jon Talton over at the Seattle Times pointed me toward an interesting paper by Amherst Securities Group titled The Housing Crisis—Sizing the Problem, Proposing Solutions (pdf). Here’s their conclusion (emphasis mine): If governmental policy does not change, over 11.5 million borrowers are in danger of losing their homes (1 borrower out of every 5). Politically,…
A Simple Solution to the Foreclosure Paperwork Mess
This foreclosure documentation mess still seems to be getting a lot of attention. Pundits on television, opinion writers in print, and even the Attorneys General of nearly every state are all riled up about it. Everyone seems to want to “stick it to the man” and make the banks pay for making false claims about…