Foreclosure defense buys homeowners time Homeowners facing foreclosure are hiring lawyers to defend them in court against their lenders, during which time they can stay in their homes without paying a cent. As foreclosures continue to mount, borrowers who have run out of options are turning to attorneys to fight back — and they’re living …
Category Archives: General
Investors Hunt For Bank-Owned Property Bargains In Packs
Investors Hunt For Bank-Owned Property Bargains In Packs One man’s castle is another’s commodity. Investors, alone and in groups, are negotiating volume deals to buy bank-owned homes and defaulted first mortgages at deep discounts. It’s a new twist in an upside-down real estate market. Forget negotiating with a bank for one repossessed house — too …
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This Real-Estate Rout May Be Short-Lived
Bottom’s Up: This Real-Estate Rout May Be Short-Lived A few years ago, an acquaintance sent Wellesley College economist Karl “Chip” Case a T-shirt depicting a cartoon of a smiley-face house surrounded by soap bubbles, called “Mr. Housing Bubble.” But it was the words captured in a comic-book cloud on the shirt that gave this otherwise …
Condo buyers struggling for closure amid credit squeeze
Condo buyers struggling for closure amid credit squeeze Ronald Cowan thought he’d be living the high life in Las Vegas, rubbing elbows with sports stars and celebrities who frequent hip places like ghostbar, Rain, Playboy Club and the Pearl concert hall at the Palms. Cowan plunked down $132,000 for a deposit at Palms Place, the …
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Condo owners can be caught up in market downturn
Condo owners can be caught up in market downturn When the real estate market boomed between 1995 and 2005, speculation ran rampant. Property “flippers” were rolling over huge profits, selling their contracts for condos in new buildings before they were even built. Just like the game of musical chairs, the music stopped and someone was …
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From Russia — With Cash
From Russia — With Cash The Russians are coming. As many of America’s wealthy are roiled by the credit crisis and general financial gloom, a growing number of rich Russians are house-shopping — and buying — in costly U.S. enclaves. Fertilizer mogul Dmitry Rybolovlev is set to pay nearly $100 million to Donald Trump for …