Category Credit crisis

SoCalBubble reports on the crisis many homeowners will be facing when their much higher balloon mortgage payments kick in. Most had planned to refi to avoid the balloon, but with the recent tightening of loan standards, they won’t be able…

“Barry Minkow, fraud investigator (and ex-con of ZZZZ Best fame) helped expose” a $69 million dollar real estate Ponzi scheme.

What happens if a house is in foreclosure AND their subprime lender has gone bankrupt? (And lots of subprime lenders have.) Bubble Markets Inventory Tracking wants to know. My guess: Vultures will swoop in, buying some of the property ultra-cheap.…

They may be looking for novice investors to scam as well as selling overpriced programs. As always, your chances of being fleeced are much less if you aren’t greedy.

A street in Murietta CA has 5 flipped houses going down the tubes. Meanwhile the Alfred E. Newman of flipping is losing another house. The currently imploding real estate market in formerly hot markets isn’t just producing pain for the…