Housing mess cure keys on liquidity

By Tom Kelly
Tom DiMercurio has spent nearly 40 years analyzing, managing and selling foreclosed properties.
He is the brains behind BuyBankHomes.com, a Web site that provides foreclosure information to interested parties such as consumers, investors and real estate agents. When a bank finds itself with a ton of real-estate-owned inventory, he’s often called on to propose [...]

The Committee for Stabilizing America’s Neighborhoods

Re: The Committee for Stabilizing America’s Neighborhoods
The Board of Directors of Paradigm Default Services and The Mercury Alliance, the two companies which are operated by my partners, Ruben and Tiana Estrada and I, have approved an initial expenditure of $5,000 to initiate and form, a new political action committee (PAC) to offer guidance to lawmakers and [...]

$700 Billion Bill Passed

Minutes ago the gavel fell in Washington indicating that the $700 Billion Bail Out Bill had passed.  Earlier this week the bill failed to pass based on the lack of detail in the bill itself.  Only days later the bill was detailed enough for the Congress to see it as the bill the United States [...]

Wachovia to be Bought by Wells Fargo

Wachovia agreed to sell itself to Wells Fargo in a $15.4 billion takeover, scrapping a federally backed deal Citigroup put together. Citigroup is considering suing the banks and may sweeten its bid.
A federal takeover of Wachovia which included Citigroup, Inc. was undone Friday as Wells Fargo & Co. slid in to make a powerful offer. [...]

Bailout Plan Rejected – Nation is Stunned

 
After what seemed to be the final meeting to resolve issues regarding the nation’s $700 billion bailout, the entire global population stares stunned at headlines everywhere reading, “Bailout Plan Rejected”, or “Markets Plunge”, or Forcing New Scramble to Solve Crisis“.
 
As the Dow dropped to 777.68 points yesterday to set a a new record drop on [...]

Paradigm Default Services, and Paradigm Default Systems

As many of our readers know, Paradigm Default Services (PDS) is an agent-centric default servicing (asset management) business model.  The goal of PDS is to “shift” with the new market, putting a heavy emphasis on the knowledge and expertise of the local real estate professional.  Is that to say that we assume every REO specialist [...]

Largest Banking Rescue in US History…A Deal is Made.

The White House and Congressional leaders have come to an agreement after several days of meeting, many times on very little sleep.  The decision is to move forward with the $700 billion bailout plan proposed earlier in the month of September.  The US Treasury will be accountable for major crucial issues still to be determined, [...]

Next Wave of Foreclosures Hits

 
Well, we’ve all been waiting to see what happens next in the real estate foreclosure market.  Fannie and Freddie have had us on pins and needles.  GW has been working on solutions at the Fed level.  Cities continue to rise in foreclosures.  What next?  How about Prime mortgages going into default?
 
Yes, that’s right, prime mortgages [...]

Confessions of a Subprime Lender

 
After reading about Richard Bitner’s recent book entitled “Confessions of a Subprime Lender” I faced the possibility that this section of our generation will be known for our economic blunders. Then the thought occurred to me that we could either be known for our amaziing ability to screw up, or we could be known as [...]

Press Release

New Default Servicer Focuses on Broker-Centric Model

DENVER, June 19 /PRNewswire/ — Paradigm Default Services, LLC. announced today that it has initiated REO, third-party servicing designed to serve the needs of clients and investors who are awash in a sea of sub-prime foreclosures nationwide. Paradigm is both an operational platform for handling lender acquired properties and [...]