When Will the Real Estate Market Return to Normal?

  Luxury Real Estate Market: What is Normal? I often turn to Billy Taylor, financial services guru at San Diego’s Villa Sotheby’s, when I want to hear the latest scoop on the mortgage market. Just last week, for example, Billy shared that Chase had moved out of the jumbo mortgage market entirely. That leaves a mere handful of lenders who will even consider doing jumbo loans, which help fuel much…

August 30, 2008
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Jumbo Loan Defaults in the Luxury Market

Luxury Defaults
August 23, 2008

by Roberta Murphy Luxury Home Defaults Ed McMahon may have wondered what else in new in defaulted real estate with the pending default of his Beverly Hills home.  But yesterday, Standard & Poor’s Ratings Service reported that even prime jumbo loans are starting to buckle. Over a period of just one month–from June to July, 2008–jumbo loans originated in 2006 saw mortgage delinquencies rise 13.2 percent, while 2007 delinquencies rose…

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