I Am Not Facing Foreclosure

Things have been quiet around here at Iamnotfacingforeclosure.com for about a month.  How many f*cked lenders can one write about?  We have also been busy getting some things ready on some properties for the upcoming heavy rental season.
But lo and behold, our hero has returned.  Thanks to a reader for pointing that out.  We will [...]

Yet another lender has gone down in flames.  Decision One Mortgage has ceased origination operations due to ‘market conditions and declining production volumes’.  They will fund approved loans that complete by October 1st.  There will be no funding after October 1st.
Anyone with a loan in process  at Decision One that will not make that deadline will [...]

Yesterday, Christopher Dodd, senator from Connecticut, had the following to say regarding the mortgage crisis:
“We may have as many as 1 million to 3 million people who could lose their homes, not because they lost their jobs, not because the economy collapsed, but because they got bad deals on mortgages,” said Senator Christopher Dodd, a [...]

I have not seen much if anything regarding our hero lately.  However, things in Sacramento are not going well in the real estate industry so golden nuggets are probably not being mined from the email.
From the Sacramento Bee:
“Job growth has slowed down quite a bit in the first months of 2007,” said Howard Roth, chief [...]

Several more casualties this week - Accredited Home Lending being one, joining others such as First Magnus last week.  The main reason is the sources of money are drying up so these lenders do not have access to the money needed to fund loans.  Some are funding loans that have closed and are in the [...]

Suntrust has announced that 100% CLTV 2nd mortgage loans are no longer available, no matter what the credit score.  Previously, borrowers could do a fixed rate second mortgage to 100% at reasonable rates or piggy back a 20% second with an 80% first to get 100% financing and avoid private mortgage insurance.
This is a pretty [...]

I saw a news clip last night where a state rep was discussing all the people facing foreclosure and increasing ARMs and ‘predatory lending’.  Now I don’t know about you but I think of predatory lending more in the realm of 20% interest per month car title loans or payday advance loans.  I do believe [...]

The public at large knows about some of the sub prime mess from the talking heads on the major network news programs.  In general though, I am not sure how many realize what kind of tightening is going on at lenders.
I have heard from many people who want 100% financing with subprime type credit scores [...]

Well, now that the Casey saga is winding down, we will try to transition back to ‘Not Facing Foreclosure’.  Admittedly, this blog has been mostly commentary, humor, and satire based pretty much exclusively on the trials and tribulations of our hero.  It was fun, what can I say?  Almost like a never-ending Saturday Night Live skit.
If [...]

This blog has been taken over by the spirit of foreclosure past. 
To be continued…..
(Editor’s note - I am on a sweet vacation for a few days - it’s all good).