Mortgage Junk Mail Hall of Shame

Almost as soon as my mortgage was recorded in the public record, I started getting a delightful new breed of junk mail delivered to my home: Mortgage junk. These particularly sleazy companies employ a number of really shady practices in thier mailings, including: Putting the name of my mortgage broker on the envelope Misleading phrases […]

Dori Monson Tackles Walking Away from Your Mortgage

Hat tip to Ray Pepper for pointing out Dori Monson’s radio segments yesterday and today on walking away from one’s mortgage. Here are the audio segments (the first is about seven minutes long, the second about 10 minutes): It’s interesting to note that in the second segment, Dori’s guest was Howard Bono, the […]

You Can’t Keep a Good Huckster Down

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 […]

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 […]

Does anyone pursue actual home ownership anymore?

I’m hoping the readers of Seattle Bubble can help me out with something. First, a little background on my perspective. My parents bought their first house in 1987, when they were about 30 years old. They paid $45,000 for the modest 1,288 square foot, 3-bedroom, 1.75-bath house pictured below. They refinanced once in the ’90s […]

Interest Rates Hit All-Time Lows: Scare Tactics in 3…2…1…

Various sources are reporting that mortgage rates have fallen to their lowest point ever this week, with the average 30-year fixed-rate loan priced at a paltry 4.69%. Of course, you know what that means… As soon as rates start to climb a few tenths of a percentage point, we will no doubt be subjected to […]

Did Banks Act in Good Faith During the Bubble?

I admit that my statement yesterday that “ethics and morals should not even enter the conversation” was a bit of intentional editorial hyperbole intended to spur the discussion. Obviously it does make sense to have a conversation about the ethics of walking away, since that’s exactly what we did for 177 comments (so far). As […]