A Blog by President and Founder of NCREI
2
Dec
The U.S. Treasury Department led by Henry Paulson, Treasury Secretary is working on a plan to temporarily freeze the interest rate resets common in many sub-prime mortgages. Los Angeles foreclosures predominantly have this type of loan. Will this plan avert a housing disaster locally or nationally?
20
Oct
This is an interesting article that discusses the changes in the lending environment. There has been a lot of talk and anecdotal discussion, but what I found interesting was the citation showing an 82% drop in nonconforming loans.
19
Oct
Countrywides REO inventory is quickly skyrocketing. Their total inventory is $2.7 billion and California makes up $1.1 billion of the total (if you want to make an all cash offer for the entire portfolio, I am sure they would be willing to take a bit of a discount)!
19
Oct
Here is a long, but very interesting post Sub-prime? So Over! Part 1 on the banks funding the toxic mortgages, the funds they are setting aside for reserves, and why that may be totally inadequate to cover their losses.
Back in the US housing market, meantime – the source, remember, of all those defaults and delinquencies […]
17
Oct
The International Monetary Fund lowered its forecast for Global growth due to the shakiness of the U.S. financial and housing markets.