I got to speak with Holden Lewis, a long-time reporter for Bankrate.com. He’s a prolific blogger of all things mortgage related at Mortgage Matters.
I’ve been following Holden’s work for years. He’s also interviewed me in the past so it’s nice to switch things around a bit.
The Housing Helix Podcast Interview List
You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.
Foreclosure shifts wealth between generations and provides affordable housing? WHAT? Not so much around here. Foreclosure puts unfortunate people on the street and the house is then acquired at the REO sale by an investor who makes cosmetic repairs and sells for a 75% profit. Maybe I need to learn something. Is foreclosure a generation wealth transfer mechanism where you are? I guess foreclosed properties could be affordable if the banks would lend on REOs without more, but as it is here you gotta have the cash, a relative in the bank to cosign or lots of equity in something else. Things the people who shop affordable around here just don’t have.