I just came across this video from the folks over at Portland Real Estate. It should give you a bit of a laugh despite all of the craziness out there. Check it out:
Are you wondering if this will ever let up? If you have any opinion, leave a comment below. Also, take a look at a few other articles on the subprime crisis:
- Assembly Republicans turned their backs on their constituents today with heartless votes against a package of bills designed to offer assistance to homeowners struggling to pay their mortgages, said Assemblyman and Democratic Assembly …
- http://network.nationalpost.com/np/blogs/tradingdesk/archive/2008/05/06/dumb-subprime-lenders-and-investors-should-not-get-help-warren-buffett.aspx. “Capitalism without failure is like Christianity without hell,” Mr. Buffett said. …
- NEW YORK — Federal authorities, responding to the subprime-mortgage crisis, have formed a task force to determine if lenders or Wall Street firms participated in fraud. The task force will be headed by prosecutors in the Eastern …
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- The point that seems to stump them is why a relatively small percentage of subprime mortgage defaults has led to a spiraling national credit crisis, how it happened, and where do we go from here. They were good questions, and if you are …
Tags: subprime, mortgage, bad credit, economic recession
This current version of the subprime home mortgage fallout has been interesting to track. Now that we are facing an election year, the politicians are coming out of the woodwork with promises to help ailing home owners.
With billions of dollars in mortgages set to adjust in 2008, many people are in panic mode trying to figure out what to do. Many will be able to refinance with fixed rates since they are still relatively low. Others, who aren’t as fortunate, will be facing some tough options if the government doesn’t come to the rescue.
Those options are brought on if you don’t have the credit to get favorable refinancing terms and/or if you are currently behind on your mortgage. They are:
Foreclosure - This means you have given up on the house and will let the lender pretty much have it. There are circumstances where, financially, this may be the best option. Emotionally this is a very difficult option.
Get a Foreclosure Bailout Loan - This option comes with it’s own set of problems and given the problems in subprime mortgages, the most difficult to pull off.
Sell the house - If you have enough equity, you may be able to sell the house via traditional methods. You also need to have the time if you are currently behind. The other way would be to have an investor negotiate a short sale on your behalf.
All 3 of these options have there own pitfalls and benefits so make sure you look at your financial situation closely to determine if you will keep your home or if circumstances require that you let it go.
Tags: foreclosure, foreclosure bailout loan, short sale, subprime
Throughout the years you have somehow managed to keep up with the payments on your home mortgage and now
you are looking to do a bad credit mortgage refinance. Even with a worse credit rating then you had you still need the money you are seeking. Here is the answer for you!
tags: bad credit mortgage, mortgage, home loan, loan, refinance, personal finance
