FDIC and Former IndymacBank Guys Slap Together a Deal to Transfer Wealth from Homeowners to OneWest Bank

February 10, 2010

IndymacBank was seized by the FDIC in July of 2008. OneWest Bank acquired their assets (at a discount, obviously) in March of 2009.

Now the FDIC is covering 80% to 95% of losses due to short sale or foreclosure. OneWest Bank just can’t lose on this deal.

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U.S. Economy To Be Hit By Second Wave of Mortgage Defaults

February 8, 2010

Just like we’ve seen in the past with prime and option-arm loans going into default, we’ll see a new tidal wave of subprime and ALT-A loans.

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The Commercial Real Estate Dilemma

February 4, 2010

Over $1.4 trillion in commercial real estate debt is expected to come due over the next three years. Many of these notes will be difficult if not impossible to refinance. Lenders are already taking HUGE hits on these commercial foreclosures just to get them off their books and create liquidity to continue lending. This is [...]

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HUD Temporarily Removes 90 Day Seasoning (anti-Flipping) Requirements for FHA

January 16, 2010

Great news for Buyers, Sellers, Brokers, Lenders, and Real Estate Investors! Today HUD has announced that it will temporarily remove its 90-day anti-Flipping rule and will allow FHA buyers to finance properties that have been recently purchased. This should any sales including REOs, short-sales, foreclosures, rehabs, etc. This new rule will take effect on February [...]

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Happy New Year! Welcome 2010!

December 31, 2009

2009 comes to an end. I hope your 2009 was successful and prosperous. May 2010 bring in many new opportunities and success stories! How did 2009 treat you?

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Merry Christmas, everyone!

December 25, 2009

I just thought I’d wish everyone a Merry Christmas! Thanks to all of you who have read and commented on my blog this year.

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Moved to the Charlotte Area

November 24, 2009

Hey everyone. I have recently moved to the Charlotte area. My first goal here is to network with other real estate investors and professionals. If anyone here wants to join my wholesale property notification list, please visit my site at: http://wholesalepropertyinvestments.com Seeya next time!

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My First Online Income Experiences

September 3, 2009

Back when I first got online in 1995, I had a friend from Sioux Falls, SD who I met online in the IRC channels on Undernet. We had remained friends for many years and worked on projects together, and even met in real life a few times since we weren’t too far of a drive [...]

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Computers – When Did I Get Hooked?

August 12, 2009

When I was 14 or so, our family got our first computer in 1993.  Everything changed for me.  I found a new form of entertainment!  I went from a Nintendo junkie to a computer junkie! Okay, I admit it; I still played my video games, but I spent more time on the computer going forward.  [...]

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Update on the Mail Marketing – Let The Leads Prequalify Themselves

August 7, 2009

What I’ve discovered is that I need to filter my leads automatically using my voice mail. One thing I can do is mention that I’m not looking to buy at retail prices, and that not many other people are because of the state of our real estate market.  I could probably let people know that [...]

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