Upside Down Mortgage

Archive for June, 2008

Mortgage Fraud On The Rise

Question: Any probs w/ Colorado State Business Group/CSBG/Core Realty? I'm sgl mom w/2 kids!! I WANT 2 KEEP OUR HOME!

Please let me know if you have! I need similar stories! I'm in the middle of trying to get SOMEONE to look into the fact that Im a victim of fraud under a rent-to-own scheme by Colorado State Business Group aka CSBG aka Core Realty. There's alot of web info about rise in mortgage & appraisal fraud & articles on how all these various politicians intend to do something about it, meanwhile, I cant get ANYone to look into my particular case. I "bought" a house from CSBG (Chris Stiebler, Andy Klein, owners) which I was to rent from them for 1 year, paying 1% of THEIR purchase price (claims paid 140k but I found out they paid 112k) which was $1400/mo. (I was to get 1/2 back for down pymnt- DIDN'T).At the end of the year I was to buy the house from CSBG for 15% above THEIR purchase price OR the appraised value, WHICHEVER WAS LESS. The appraiser THEY hired appraised at 165k. I found out @ refi later that appraisal was inflated & value @ the time was closer to 130K. I WAS SCREWED! HEEEEELLP!

Answer: What you ABSOLUTELY need to do is spend a couple hundred dollars to have your own real estate attorney review the contract you have with this company.

I strongly sense that this will answer many many questions for you.

Mortgage fraud on the rise

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Did Housing Bubble Burst

Question: #####Hi All Is There Going To Be A Housing Slump Crash Has The Bubble Burst In London#######?

hi all has the bubble burst...i bought a flat last year in ealing and want to sell it this summer....im i better off waiting are prices going to drop further...will it pickup this summer.....or are the prices just leveling off say a 10 15 grand drop your views on this topic would be great...have a good day and thanks for answering

Answer: If I needed to sell in the next 2 years, I would sell now - 'normal' house prices will (most likely) stagnate or get lower whilst I believe those in the 'buy to let' areas are due to fall over the next 2 years or so ..

If I was looking to buy, I would wait as long as possible .... there will be some good 'buy to let' bargains as more & more Landlords are forced to sell up as their 'special rate' mortgages run out in the next 2 years and they find they can't get another 'special rate' & then discover the rent won't cover the 'standard rate' interest payable ...

I expect the buy-to-let selling rush to start anytime soon - those trying to re-mortgage now and (with Capital Gains Tax now a flat 18%), those who have not been in the market long (and have minimal 'equity' in their properties) and those with any brains, will all soon wake up to the fact that the early sellers will get the best prices ..

Dubai Real Estate Crash. Lindsey Williams was Right !!!!!!!!!!!!!!!!!!!!!!!!!!!