In a recent NBC interview, Appraisal Scoop author Ted Faravelli, Jr. discusses the alarming increase of foreclosures in the San Francisco Bay area.
According to Ted, "Home values were exaggerated to get bigger loans and because banks were making money it was a don't ask don't tell situation"
"The real estate market is singularly the largest concentration of wealth in this country" said Faravelli, Jr. Now that wealth is being eroded.
Vicky Nguyen, talks about the extreme reduction in "Ninja" loans. What's a NINJA loan you ask? Click here: N.I.N.J.A (No Income, No Job, No Assets).
Click below to watch the entire story . .
Author: Ted Faravelli, Jr., is a real estate case consultant and state-certified appraiser specializing in forensic valuation services, litigation support and expert witness testimony. With more than twenty-three years of experience, he has consulted in over 100 cases and has been designated as an expert witness to the California Superior Courts of Sacramento, Marin, San Francisco, San Mateo, Alameda, Contra Costa, Santa Clara, Orange and Los Angeles Counties. http://www.Faravelli.net
Recent Comments