Former Goldman Exec Starts Foreclosure Fund

Tag: subprime

Former Goldman Exec Starts Foreclosure Fund

Former Goldman Exec Starts Foreclosure Fund

Donald Mullen, former executive at Goldman Sachs is attempting to raise $500 million for a fund to buy foreclosures. The goal is to rent the homes. Mullen is one of the brains behind the subprime mortgage trade. He began marketing his Fundamental REO Access cause about a month ago, in some cases to some current…  Continue Reading

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Foreclosed But Back to Homeownership

Foreclosed But Back to Homeownership

More and more, Americans aren’t letting a foreclosure, bankruptcy or short sale prevent them from becoming homeowners again, and quickly. In year’s past, the only option seemed to be renting. But today, as rental prices are on the rise, they want to take advantage of low home prices. So where is the help coming from…  Continue Reading

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Don’t avoid the 900% increase in foreclosure activity in 2012

2012 is  going to be HUGE. Up to 9 million homes may enter foreclosure in 2012 period, versus one million in a typical year. This will send shock-waves through the stock markets and world economy. It may well be the “dark ages” for homeowners and lenders alike…and the wave of mortgage re-sets will continue in…  Continue Reading

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Fannie Mae Selling Foreclosed Homes with Subprime Terms

Fannie Mae Selling Foreclosed Homes with Subprime Terms

Through their new HomePath program, troubled GSE giant Fannie Mae is offering their foreclosed homes for sale with as little as 3% down. What’s more, that 3% can be a gift from a family member of third party, or a loan from a non-profit, state or local government. Doesn’t this remind you of the “deals”…  Continue Reading

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BOA to Reduce Principal on Underwater Mortgages

BOA to Reduce Principal on Underwater Mortgages

Bank of America to Start Reducing Principal on “Underwater” Mortgages By Ieva M. Augstumms, The Huffington Post CHARLOTTE, N.C. — Bank of America Corp. is giving some of its most troubled mortgage borrowers relief from the threat of foreclosure. The bank, the largest mortgage servicer in the country, said Wednesday it will forgive up to…  Continue Reading

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