Since the collapse of the housing market and the start of the recession, the California Department of Real Estate has seen its fair share of bad real estate actors and defunct hard-money lending firms.
While the department does not keep statistics to show whether fraudulent behavior is worse in this county, Jeff Davi, commissioner of the [...]
Posts Tagged ‘investments’
California Department of Real Estate official discusses lending fraud
December 16th, 2009 by HardMoney Writer
Tags: District Attorney’s Office, estate financial, hard money, hard money lenders, investments, investors, lending fraud, mortgage lending, real estate
more...Buying-and-selling real estate in this market takes experience, deep pockets
December 1st, 2009 by HardMoney Writer
In a booming real estate market, making money investing in homes is easy. Buy a house, slap on a new coat of paint or replace the carpeting and ride the appreciation train to a quick, profitable resale a few months later.
When prices decline — as they have in the Puget Sound area over the past [...]
Tags: broker, foreclosed, foreclosure, home investors, investments, investors, making money, mortgage holders, real estate, Real Estate Association of Puget Sound, real estate investors, resell homes, tax credit
G.M. Seeks Assistance From Europe for Opel
November 24th, 2009 by HardMoney Writer
As executives of General Motors met Monday with European officials to ask for financial help in overhauling its struggling auto operations, Germany reopened a bitter public debate over state aid and job protections that has sharply divided its government.
After talks in Brussels on Monday with European countries where G.M. has plants, Nick Reilly, the interim [...]
Tags: bridge loan, financial, general motors, GM, investments, Private Equity
Behind a failed mortgage company
November 23rd, 2009 by HardMoney Writer
For years, Richard MacDonald’s investments with Financial Resources Mortgage in Meredith seemed like a sure thing. His deposits, which totaled more than $1 million, helped finance building projects across Northern New England. Interest checks arrived in the mail every month. And MacDonald felt secure knowing the construction sites were within an hour or two of [...]
Tags: bankrupty, bridge loans, broker deals, financial crisis, Financial Resources Mortgage, hard money, hard money lender, investments, investors, mortgage, private investors, real estate
Moneyfacts: 1 in 10 variable rates reduced
November 5th, 2009 by HardMoney Writer
Despite the base rate of interest remaining the same since March, one in ten banks has reduced their variable savings rates, according to Moneyfacts.
Currently, 48.8 per cent of all variable-rate accounts pay the bank rate or less and 22.8 per cent pay customers 0.1 per cent on their savings.
In the last month, 3.9 per cent [...]
Tags: bank rate, interest rates, investments, moneyfacts
Nine U.S. Banks Seized access Largest One-Day contents
October 31st, 2009 by HardMoney Writer
U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation’s banking industry are being crippled by bad loans.
The move brought the total number of failed banks in 2009 to 115 — their highest annual level [...]
Tags: borrowers, Colonial BancGroup, commercial real estate loans, Fannie Mae, FBOP Corp, Federal Deposit Insurance Corp, foreclosed, Freddie Mac, investments, lenders, loans, mortgage, U.S. Bancorp