local real estate news, statistics, and commentary without the sales spin.
If you followed the news this week, you probably read that the Antarctic ice sheet is has entered an irreversible melting phase, that will eventually lead to its collapse into the ocean and an over ten feet increase in the sea level. Here’s an excerpt from the Seattle Times article about the melting Antarctic ice…
a different kind of underwater homephoto by Flickr user nosha I received the following request from a local reporter who is interested in hearing from Seattle Bubble readers: I would like to speak to individuals who are underwater or facing foreclosure, and are finding ways to cope—whether it be by strategically defaulting, hanging out in…
A reader emailed me with an interesting question about refinancing an underwater mortgage: Do you think I can convince my lender to refinance my underwater 30-year mortgage to an underwater 15-year mortgage? Obviously another lender would have no motivation to take over a bad investment. But arguably it could be advantageous to my lender. They’re…
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): https://seattlebubble.com/blog/wp-content/uploads/2011/06/Dori_Monson_Show_Walk-Away_20110615_1pm.mp3 https://seattlebubble.com/blog/wp-content/uploads/2011/06/Dori_Monson_Show_Walk-Away_20110616_12pm.mp3 It’s interesting to note that in the second segment, Dori’s guest was Howard Bono, the…
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…