You may think the value of your house has plummeted beyond repair, but Wall Street thinks otherwise. In the last six months, Investment Firms, real estate investors, and hedge funds have been buying single family houses up a storm. Not limited to houses for sale by owner, they are also preying on the numerous foreclosures on the market. Investment banks Continue Reading...
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While the prices are reasonably low, buying, refurbishing, and selling houses with a fast turnaround can produce a thin profit; this practice is here referred to as flipping houses. John Irwin, previously a women’s shoes salesman, earned about $20 an hour, but is now into flipping houses in Northern Virginia. By flipping three houses he has made $30,000 net profit Continue Reading...
In September, home foreclosures witnessed their lowest dip since September of 2007. According to online foreclosure market authority, Reality Trac, this was the second month in a row in which the real estate and property markets of foreclosing homes saw a decline. Foreclosure filings, including scheduled auctions, bank repossessions, and default notices, were reported to be 180,427 in September—almost 7% Continue Reading...
Looking for the hottest, most profitable investment opportunities? Just look around—you might be surprised to find that your house is actually the best investment as per Wall Street. The latest highly money-minting trend these days is in the housing market. According to Fortune Magazine, Wall Street is on the hunt for foreclosing homes. According to the grapevine, the trend is Continue Reading...
RMBS Working Group Files Lawsuit against JP Morgan for Securities Fraud
0 Submitted by Andrew on Wed, 24 October 2012, 10:52Residential Mortgage Backed Securities (RMBS) Working Group filed a Martin Act lawsuit on Monday against JP Morgan Chase Bank, JP Morgan Securities LLC (Bear Stearns & Co, in its earlier avatar), and EMC Mortgage LLC (erstwhile EMC Mortgage Corporation) on the grounds of fraudulent practices with the ulterior motive of promoting the sale of RMBS to investors. Initiated by Eric Continue Reading...
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