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 'Buy and Bail'
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
Buy and Bail – Buying a New Home Before Foreclosure
June 12th, 2008 · 1 Comment · Consumer Debt, Mortgages
Many people are finding out they are “upside down” on their home these days if they bought during the real estate crazy years of 2005-2006. In addition, many those are not able to afford the payments on their mortgages as interest rates rise. In the metro areas that saw the biggest [...]
Tags: Buy and Bail·Fannie Mae·FNMA·foreclosure·Mortgage·New Home·Upside Down
