Dave Vanderbilt's Page

Reverse mortgages can serve as an effective way to protect a homeowner from foreclosure.

Foreclosure

If a homeowner is at risk of foreclosure they should move quickly because a reverse mortgage will take extra time to close if the property is nearing foreclosure. The homeowner will most likely have to get a short pay agreement in which the lender reduces the balance owed on the existing mortgage. That agreement often takes several weeks to negotiate.

1. Select a reverse mortgage specialist
2.… Continue

"If you have the money, or have the resources to get the money," now is the best time to buy a home, Donald Trump said earlier this week on Good Morning America. The real estate mogul was on the morning program to promote his new book, "Think Like a Champion."

He's probably right -- with major home-price declines and home affordability at an all-time high, it is a good time to purchase a home, especially if you have a steady job and the financing to purchase a house.

But not everyone has the a… Continue

In an acknowledged bid for publicity to deter future crimes, the FBI today announced it had charged 406 people involved in 144 unrelated mortgage fraud cases since March 1 as part of an effort dubbed "Operation Malicious Mortgage."

The FBI said most of the cases involved lending fraud, foreclosure rescue scams or mortgage-related bankruptcy schemes, causing about $1 billion in losses. Five dozen people were arrested in 15 judicial districts on Wednesday alone.

Banks and other financial institu… Continue

Are you looking to flip a property for profit? The U.S. real estate market may not look so hot, but the Baghdad real estate market is sizzling hot.

There is no mortgage crisis in Baghdad because there are no mortgages. People buy and sell real estate for cash and lots of it these days. The market prices continue to rise like Florida, Las Vegas or California did a few years ago.

Because there is almost no construction in Baghdad since before the war, real estate is limited, causing the market t… Continue