Short
May 1st, 2008
by IrvineRenter
Short People -- Randy Newman
Short sellers got no reason to hope. They got little houses, little pets, they go round borrowing great big debts. They got little kitchens, little stoves, granite counters; they are selling in droves. Don't want no short sales, don't want no short sales round here.
Today's featured property is a typical 100% financing deal gone bad. There are two types of distressed properties that have caused the 20%+ declines we have seen in the last year: 100% financing deals and HELOC abusers. We have profiled many of each type. They have set the stage for the next wave of foreclosures when all the ARMs begin to explode. We haven't begun to see the fallout from that problem yet.
Read the rest of this entry »
Posted in
Short Sale
