The “turn and burn” a.k.a. “buy and bail” strategy – is a method sometimes used by people whose homes are “underwater”. It is increasingly used by the wealthy with very large mortgages whose homes are worth significantly less than what they owe. This little trick reared its ugly head after the housing market [...]
Entries Tagged as 'Mortgages'
Turn and Burn – a Highly Profitable Foreclosure Strategy
October 13th, 2009 · 1 Comment · Credit Reports, Mortgages
Tags: Buy and Bail·Credit Scores·Economic Meltdown·Good Credit·investment loans·Making Homes Affordable Program·pay with cash·turn and burn
A Good Forclosure Defense: Home Affordable Modification Program (HAMP)
September 28th, 2009 · 2 Comments · Consumer Debt, Mortgages
Many people are facing foreclosure today. If you are one of them, you may be able to delay the process or halt it all together without stepping a foot into court. As part of the “Making Homes Affordable” program, a.k.a Home Affordable Modification Program (HAMP), mortgage servicers are required to review the eligibility [...]
Tags: foreclosure·foreclosure procedure·HAMP·Home Affordable Modification Program·lender·Making Homes Affordable Program·Mortgage·mortgage servicer
Documentation and Organization Are Keys To Credit Repair Success
September 24th, 2009 · 2 Comments · Credit Repair, Debt Settlement, Identity Theft, Legal Stuff, Mortgages
Ever tried to return an item but didn’t have a receipt? Tried to prove you made a payment on a bill when your credit card company said otherwise? Tried to get a mortgage? Gone through an IRS audit? How about repairing your credit? The tip to success in all these situations [...]
Tags: agreements·certified mail return receipt requested·credit bureau·Credit Repair·CRRR·Debt Settlement·dispute letters·documentation·Mortgage·organization·progress·receipts·success
Opinion: Capitalism, Socialism, Communism and the Free Market
September 23rd, 2009 · 5 Comments · Banking, Consumer Info, Mortgages
The health care debate, socialism, government take over of GM, regulation of Wall Street – say these words and very few people will resist giving a reaction: a roll of the eyes, a string of expletives or a thoughtful opinion.
Capitalism
Is the US really a capitalist economy? Wikipedia (sorry Encyclopedia Britannia, you’re SO [...]
Tags: big business·businesses·Canada·capitalism·China·communism·Fortune 500·free markets·regulation·socialism
