Dennis Norman
By: Dennis Norman
This past Monday I did a post on short sales where I addressed the use of option contracts by investors on short sales. Since then I have spent a lot of time discussing and researching this approach to short sales.
I always try to keep an open mind when I look at new business models and approaches to investing. With this in mind I set out to learn more about the option approach to short sales. My research led me to one Nathan Jurewicz, a 28 year-old with neon orange hair, known as the “short-sale kid” and the peddler of the “ShortSalesRiches” program. Read more…
By: Dennis Norman
Today the Office of the Comptroller of the Currency (OCC) and the Office of the Thrift Supervision (OTS) released their mortgage metrics report for 1st quarter 2009.
The report shows foreclosures continued to increase during the first quarter of this year. However the report also shows a significant increase in short-sales which I discussed yesterday in a post.
Below are some stats from the report: Read more…
Dennis Norman
By: Dennis Norman
A recent study shows that 20% of homeowners owe more on their mortgage than their homes are worth. This, coupled with the challenged market we have been in the last year and a half or so, has led to a record number of “short-sales”.
A short-sale is something that was relatively unheard of a few years ago but is quite common today and refers to those sales where the sale price of the home is not sufficient to repay all the debt owed on the home and the lender chooses to accept a lessor amount to release their lien on the home. Read more…
