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Subprime Mess Comes Home to BC |
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Written by Kap Hiroti
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Wednesday, 18 March 2009 14:51 |
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The following article was published in The Province March 18th, 2009 Subprime mess comes home to B.C.
Hundreds of property owners hit by foreclosures as real estate slumps BY KENT SPENCER, THE PROVINCE MARCH 18, 2009 Port Alberni's Matt Pirillo and his family are victims of an epidemic of foreclosures taking place in B.C.
"We got our foreclosure letter dropped on our doorstep on Christmas Eve -- Merry Christmas," he said yesterday while packing up his home in the 2700-block 5th Ave.
The Pirillos are among hundreds of B.C. property owners who have been caught by slumping real-estate prices and high-interest, subprime mortgages. |
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Written by Kap Hiroti
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Wednesday, 18 March 2009 14:47 |
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The following item was aired on CTV Newsnet March 14th, 2009 Canada's Subprime Problem http://watch.ctv.ca/news/clip150085#clip150085
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Last Updated ( Wednesday, 18 March 2009 14:50 )
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Increases in foreclosure rates create buying opportunities |
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Written by Kap Hiroti
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Wednesday, 18 March 2009 14:41 |
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The following article was published in The Globe and Mail March 16th, 2009 Increases in foreclosure rates create buying opportunities Desperate homeowners likely to be more willing to sell fast as lenders move in DAWN WALTON Globe and Mail Update March 16, 2009 at 6:47 AM EDT CALGARY — There may be an upside to Canada's emerging subprime-mortgage problem as lenders increasingly move in to foreclose on overextended homeowners: New-found investment opportunities for real-estate speculators.
And it's not just the narrow but ballooning pool of subprime-mortgage foreclosures, but the overall boom in the foreclosure business that could get investors in a buying mood and desperate homeowners more willing to sell fast.
"A lot more properties will be sitting for longer and some of the properties are going to be vacant for sure," said Kap Hiroti, who tracks foreclosure proceedings in British Columbia and operates Foreclosurelist.ca, which links sellers with potential buyers. |
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Canada's dirty subprime secret |
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Written by Kap Hiroti
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Wednesday, 18 March 2009 14:22 |
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The following article was published in The Globe and Mail March 14th, 2009 Canada's dirty subprime secret An investigation by Globe reporters uncovers a burgeoning subprime mortgage problem that many, including Prime Minister Stephen Harper, have insisted does not exist in Canada
Greg McArthur and Jacquie McNish Saturday, March 14, 2009
From the ramshackle, plywood deck on Brad Goodyear's rural Vancouver Island home, most people see piles of trash, a mattress, abandoned appliances and heaps of salmon fishing nets.
Mortgage lenders, however, have looked at the same property and, until recently, seen nothing but cash. |
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Last Updated ( Wednesday, 18 March 2009 14:41 )
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Kap Hiroti on Realty Television |
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Written by Kap Hiroti
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Tuesday, 10 February 2009 22:03 |
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