Denver Mortgage Loans and Denver Home Equity Loans
The latest stories in the Denver Post and Rocky Mountain News are about foreclosures. Rather than dwell on the bad, how about we focus on the good. People will continue move to Denver because we’re minutes away from the mountains. Whether you ski, snowboard, or snowblade, in a few short weeks you can hit the slopes.
Here are the ski resort opening dates:
Yesterday I drove up to Evergreen to meet with clients. Along the way, I stopped to watch all the wapiti (that’s just a fancy word for ELK) grazing along the side of the road.
September to October is their mating period. If you plan on going to Evergreen stop to see the wapiti and expect to hear lots of bugling this time of year.
The Denver Post three articles devoted to real estate and mortgage fraud:
The indictment claims the men solicited investments in duplex projects in Colorado, Texas and Florida that were never built.
Former prosecutor Anthony Accetta cleaned up mortgage fraud 34 years ago – or at least, he tried.
Accetta said nobody in the lending industry cares about mortgage fraud, because nobody in the lending industry suffers when a loan goes bad. The mortgage industry is a financial game where all of the players are covered against losses.
A key factor in the state’s record-setting wave of foreclosures, critics say, is an FHA program that allows people to borrow more than their houses are worth with little or no money down.
Created to extend the dream of homeownership to first-time buyers, the so-called FHA gift program instead has led to rampant foreclosures. Nearly 6,000 FHA loans have wound up in foreclosure in Colorado in the past two years, and during that time the program allowed more than 25 percent of FHA buyers to use gifts as down payments.
To read more about mortgage and real estate fraud check out these two blogs:
The housing market is in a cooling off phase:
Luxury-home sales woes slow to arrive by John Rebchook of the Rocky Mountain News talks about how the Toll Brothers, not to be confused with Nestle’s Toll House, builders of luxury homes has seen a decline in sales.
Toll Bros. is a small player in Denver – ranked No. 33 out of the top 40 builders – but it is considered a bellwether for the direction of expensive homes because the Horsham, Pa.-based company is the only national home builder that builds luxury homes exclusively.
“The housing market is getting weaker much faster than anybody expected,” Alex Barron, senior housing analyst with JMP Securities in San Francisco, told The Associated Press. “What’s hurting Toll is just the fact that they build luxury homes. Luxury homes are very discretionary. People who want to live on the golf course, they can do so today or they can wait a year. There’s no hurry.”
Aspen Property on the market for $135 Million that I blogged about earlier:
