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Gretchen Morgenson

Gretchen Morgenson

This is an interesting insight into the current mortgage/loan modification issues.

And you might have thought that your loan mod was being considered based upon the merit of your hardship…

A Reality Check on Mortgage Modification

 

The number of Hamptons homes sold in the three months ending March 31 fell to 312, a 29 percent decline from the fourth quarter and a 42 percent drop from the first quarter of 2007, the survey said.

see the Bloomberg report:

Hamptons Home Prices Decline on Wall Street Job Cuts, Economy
By Bob Ivry

see The Real Deal article here

newsday subprime mapThere’s all sorts of nifty new fact and figures coming out about sub-prime.  Here’s a map from Newsday showing the percentage of mortgages for 2006 that were sub-prime loans.

Presumably, that will give an indication as to how many foreclosures might be in these community’s future?  Looks like the East End has a much lower overall percentage than our sister markets to the west.  see map here

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