March 12 (Bloomberg) -- New Century Financial Corp., the nation's second-biggest subprime mortgage lender, said it doesn't have the cash to pay creditors who are demanding their money, increasing speculation that the company will go bankrupt. http://quote.bloomberg.com/apps/news?pid=20670001&refer=&sid=aY3mu1qdRq94
Thanks for the tips and encouragement. On Sunday we put an offer on a house that we fell in love with this weekend. We don't have the house yet but it looks encouraging. It is multiple offer situation we are in. Hopefully some good news comes our way soon. However if it doesn't work out there are a couple others around that look appealing. Katie
We have started looking again...very scary. We need a bigger house, especially when we have another child. We are busting at the seams right now. Good luck on your bid...very stressful!
Katie, you are correct - and Drewbert, you are also - but you're not talking about the same thing. Katie - for you (unfortunately), there's http://money.cnn.com/pf/features/lists/topzipcodes/index.html which makes it clear that housing in Chicago is rising at a rate of 100% every 5 years. Chicago is and continues to be a hot market . Drewbert - recent changes in the ways and means that mortgages have been developed in the past few years (see http://www.chicagotribune.com/class...70390.story?coll=chi-classifiedrealestate-hed) has increased the amount of mortgage money available and allowed a far greater number of mortgages to be granted to persons who - up until now - would not be eligible for those amounts. As a result, the default rate has risen (and continues to rise). Katie - Today's most effective strategy (if you're flexible) may be to have your seller carry some portion of the mortgage for a while. Sellers are seldom as aware of the most recent financial trends and may be willing to trade existing equity for less than it may be worth on the open market in exchange for a fully qualified offer at their asking price. Good Luck!
Anyone over there fancy coming to live in the UK Our house is up for sale you can see it at www.barkersestateagents.co.uk Go to properties for sale and it's page 13 the fifth one down Denbrook Avenue Asking price $380,000
Thanks! We have great news! We are now under contract with the house. We got it! Now we just to ensure all the financing goes well and will close by the end of April. We are so looking forward to more space and a nice size yard! I know the cats and all will enjoy it. Plus we are going to have space to entertain just in time for summer. Oh, and the owner is leaving the pool table! Katie
I think it depends what search terms you put in Jayne as to which page it appears on. With $380,000 you could buy a mansion here, of course if you meant pounds you could buy two
