Archives for April 2008

Surviving the Future in Troubling Economic Times

By Tony Evans Since THE Buzzzz is always looking out for your welfare – especially in troubling economic times like these – I want to pass on an inside tip to help you survive the future. I'm not talking about the kind of tips our parents told us when we were kids like, "You'll be sorry when your dad gets home." Or, "I knew we should have bought that house when we had the chance." I'm talking about a safety net, if you will, during this … [Read more...]

Home Equity Loss Changing Lives

by David Wilkening Almost half of all U.S. homeowner's equity has been wiped out as a consequence of the real estate crisis, resulting in major changes in the future plans of millions of Americans. "The loss of equity is extremely important for the current state of the housing market," said Dean Baker, co-director of the Center for Economic and Policy Research, which publishes the weekly Housing Market Monitor. Mortgage companies and … [Read more...]

Bottoms of Real Estate Markets to Hit 2009

By Mike Colpitts Editor The bottom of the real estate market will hit the over-whelming majority of housing markets in mid-2009, according to the newly issued Housing Predictor forecast. Most markets are still working through their downturns and won’t see light at the end of the tunnel until sometime in early 2009. However, some especially depressed markets are already beginning to see slightly improving conditions and should see increased … [Read more...]

Turn Out the Lights

By Columnist Tony Evans Dandy Don Meredith, former Dallas Cowboy's QB used to sing, "Turn out the lights, the party's over," when there was no hope for the opposing team to win the game. With that thought in mind, will the last person leaving Detroit, Miami, Las Vegas, and Phoenix please turn out the lights in Dandy Don's memory? Does it sound like THE BUZZZ is picking on these cities? Yep, you bet! When you can buy a home in Detroit, … [Read more...]

Time to Buy or Rent Housing

By David Wilkening Conventional wisdom has it that rental housing is throwing money away. But is it really in these times? Not necessarily. It depends in part on where you are located, but in many areas of the U.S. rents are being held down by the dramatic overbuilding of homes and condominiums. In hyper overbuilt South Florida, for example, renters have their pick of places to live: a huge variety of apartments, condominiums and … [Read more...]

Finding Money in a Short Sale

By Tony Evans If you’re a homeowner and want to save your credit and eliminate foreclosure proceedings, selling your home through a short sale just might be the ticket. So turn on your computer printer because you’ll want to print this column for future reference. See how the BUZZZ is taking care of you! There is a relatively sneaky way used by some clever and sophisticated real estate investors to make money. For the sake of argument, I … [Read more...]

Financial Damage to Top S&L Crisis in U.S.

Financial losses from the credit crunch will top the 1.4-trillion dollars lost in the U.S. Savings and Loan Fraud scandal, according to a comprehensive analysis conducted by Housing Predictor. The dollar damage to the U.S. economy will exceed S&L losses due to widespread growing losses in financial markets by banks, private investors, and millions of individual home owners losing their homes to foreclosure. The losses, however, do not … [Read more...]

Selling Real Estate without Silent Second Mortgages

By Mike Colpitts In these challenging days of selling real estate "silent second" mortgages are making a quiet, some what frightening, most often times illegal comeback. Silent seconds as they are called in real estate parlance are second mortgages, which are not revealed to lenders and can find the user's behind bars in the local county jail. They're also called dirty seconds because that's what they are when they aren't revealed to the … [Read more...]

Stealing a House in a Short Sale

By Tony Evans Everybody wants to know how to steal a house, and there are plenty of people trying to these days. Say you’ve missed some mortgage payments and think maybe you’ll be able to "catch up" later on, but you can’t. You call your lender explaining your 'temporary problem,' but they can’t think of anything. Your house has been on the market over 90 days with no action, and you bug your Realtor every day and twice on Sunday. The Buzzz … [Read more...]

Robbed by the Bank in the U.S. Savings and Loan Scandal

By Leigh Neely It was 1986, the height of the U.S. Savings and Loan Fraud Scandal, and one of the worst years of my life. President Reagan was in office, and his trickle-down economy was getting worse every day. The trickle that had been coming to my house suddenly dried up, and my husband's business folded almost overnight. Richard and I were raised in Chattanooga, Tennessee and we were enjoying raising our three children there. We were … [Read more...]