article thumbnail

Why non-QM borrowers aren’t going away anytime soon

Housing Wire

There will always be a population of borrowers who cannot qualify for a home loan under traditional guidelines. Originators who actively work within the non-QM space are closing additional loans every month. The solution: Bank Statement loans. . Angel Oak’s Bank Statement loan is ideal for the self-employed.

article thumbnail

Why I Should Consider a Short Sale

Realty Biz

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? What You Need to Know About Short Sales.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What happens after the Fed’s rate hike?

Housing Wire

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. As we can see below, the bankruptcy levels were extremely high before the bankruptcy law was passed in 2005.

article thumbnail

Westchester County DA indicts six in $2M home deed theft case

Housing Wire

The Westchester County District Attorney announced on Friday that it has indicted a group of six individuals and a corporation for allegedly stealing property deeds from distressed homeowners, fraudulently accessing mortgage loans, and evading state taxes. They ultimately defaulted on the mortgages, the district attorney claimed.

article thumbnail

Understanding the Short Sale Process

CT Homes

A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. But what is the short sale process and how does it work? . What is a Short Sale?

article thumbnail

Why home-price growth is still up 18% year over year

Housing Wire

The next job loss recession, when it happens, will have more foreclosures, short sales, and bankruptcies. The 2005 bankruptcy reform laws and the 2010 Qualified Mortgage laws, once passed, created an expansion that has produced the highest quality homeowners in our lifetime.

article thumbnail

Will we start 2022 with all-time lows in housing inventory?

Housing Wire

.” Getting ahead of this flawed premise, I wrote a series of articles that point out that this isn’t the credit bubble of 2002-2005, and the loans post-2010 were good. We have gone from near 5 million loans in forbearance to finally breaking under 1 million recently. America came back strong, and we left this crew in the dust.