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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (100112)1/14/2008 4:08:01 PM
From: John VosillaRead Replies (2) of 306849
 
'Meanwhile, I'm wondering why the news media isn't covering some "creative financing" stories. There are many ways to skin a cat in a down market, and both buyers and sellers can take advantage of alternative financing arrangements.'

Interest rates are very low. Rental rates are way too low to cover PITI at market rate. Also so many folks are now way upside down in equity so the only way out is for it to go back to the lender and become an REO except for the rare short sale approved by a lender to a third party cash buyer.. Just looked at some foreclosure auctions at counties here in Florida and it is amazing that almost every one sold at the steps is going back to the lender. REO's is where the action will be until we get some stability.. I imagine a lot of wholesalers, lease/option flippers and wrap around creative financing types are desperate for work in the crash bubble markets today..
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