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The Ever Changing Real Estate Market-Beware Of Second Mortgage Foreclosures
Manage episode 155927772 series 1171096
Mike talks about the abundance of opportunities that are still available. While prices have gone up there's still plenty of deals around, but you need to be extremely careful. One trend that we're seeing is that Home Equity and Second Mortgage Lenders are foreclosing. Since 2009, it was extremely rare for these lenders to foreclose, for the simple reason that there was seldom enough equity to cover them. They simply wrote these mortgages off. Now, because values have increased the situation has reversed, there's now enough equity to cover the second mortgage. Mike has a special course on identifying these situations and capitalizing on them if it makes sense.
47 jaksoa
Manage episode 155927772 series 1171096
Mike talks about the abundance of opportunities that are still available. While prices have gone up there's still plenty of deals around, but you need to be extremely careful. One trend that we're seeing is that Home Equity and Second Mortgage Lenders are foreclosing. Since 2009, it was extremely rare for these lenders to foreclose, for the simple reason that there was seldom enough equity to cover them. They simply wrote these mortgages off. Now, because values have increased the situation has reversed, there's now enough equity to cover the second mortgage. Mike has a special course on identifying these situations and capitalizing on them if it makes sense.
47 jaksoa
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