Like every other third party mortgage investor on the planet, Fannie Mae has had a rough time lately. When Wall Street finally stopped buying sub-prime loans Fannie Mae found themselves holding millions of un-sellable mortgages…essentially holding the bag.

Was it greed that created this situation?

That is too easy of an answer. The truth is the system was set up for people who are responsible for the increase in the value of a company, to keep up with their investors desires for ever growing profits as compared to their competition.

When is the Real Estate Market going to turn around? 

Some experts say that the housing market will not turn around until late in 2011.

One thing for sure is that there is a lot of profit to be made in foreclosures. Either buying them to hold (which I have done many times) , selling them as a professional (the commission is often double, I did this thousands of times) or buying them to live in with your family (I haven’t done that…yet).

The positive side of foreclosures is that the word has never

What happened to Nehemiah and Ameradream programs?

 
Well the Nehemiah and Ameridream programs were dangerous for all of us. By allowing home buyers to finance a home without a down payment, these two programs did a lot of damage to the real estate market.

Like so many good ideas, these were bad ideas masquerading as a

It is not the desire of HUD to own homes. That is the last thing that HUD wishes to do. They inherit homes from lenders that provided their homebuyers with government insured mortgages and left the scene of the crime when the mortgage was not paid by the home buyer. In order for HUD to dispose of the negative asset they are forced to try and sell it on the open market.

HUD homes, once the most numerous foreclosure homes on the market, were reduced in the past several years with the sky rocketing popularity of sub prime mortgages.

As sub prime mortgages provided even lower down payments or in many cases no down payments the homebuyer that would have utilized an FHA mortgage moved to a sub prime mortgage. This has greatly reduced the amount

Before a house is foreclosed on, vacated and becomes a REO listing it is considered a pre-foreclosure. Pre-Foreclosures are historically bad investments for a number of different reasons: