Banks across America are mounting a hiring surge right now. Why? They are gearing up for what lies ahead…more defaults, more short sales and more foreclosures. Collectively, the big 4, including Bank of America, Chase, Wells Fargo and Citi have recently added over 17,000 new employees to their payroll to help manage the volume of loan modification [...]
HUD announced Friday that the 90 day title seasoning requirement on FHA, Fannie Mae and Freddie Mac loans will be waived beginning February 1, 2010 for one year. This is the greatest news to hit the real estate investing world in the past 20 years. I’m sobbing from jubilation, trying to wipe back the tears as I type. [...]
A breaking new short sale trend for 2010 is shaping up that you need to know about…$500,0000+ deals. That’s right, loans with principal balances above $500,000 are making our students a fortune right now. Bloomberg News recently reported that $500,000+ loans are defaulting more than twice as often as $250,000 or less loans. What makes this so [...]
