Word: bankses
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Distressed sellers are the biggest problem. According to the National Association of Realtors, nearly 40% of all houses on the market today are owned by sellers who are either behind on their mortgage or owe more than their house is worth. Banks have to approve deals in which the sale...
Nicholae Blanchard, an agent in Cape Coral, Fla., says she has been waiting for a year for a bank to approve one deal. In all, she has completed 10 short sales on behalf of buyers or sellers this year, but she says things have been getting slower lately. She's...
Beyond short sales, buyers are also walking away because banks are requiring higher down payments and credit scores. Mortgage rates, too, which have recently been rising, are keeping buyers out of the market. "I had one buyer recently walk away because they had 10% to put down, but the lender...
Anticipate an odd case of road rage this week among hedge-fund high rollers driving home while contemplating some catastrophic losses in the market, while the iconic Porsche logo on their steering wheel stares back at them. That's because the venerated Stuttgart sports-car manufacturer on Monday inflicted losses...
VW's wild ride began when Porsche quietly announced on Sunday that it now held nearly three quarters of VW's equity, having expanded its direct stake in VW to 42.6% from 35%, and also having exercised call options on enough shares to raise its stake to 74.1%. The sports...