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When the old family home goes into foreclosure

Posted by: Peter Coy on July 18, 2008

Some of you may remember Tim Mullaney, who worked for BW for a number of years and wrote some nice guest blogs for Hot Property. Tim has since moved on to bigger and better things—or different things, anyhow—and now has his own blog called It’s Only Temporary. The blog name, he says, comes from

Anyway, here’s one blog and here’s another that he wrote upon discovering that the house he grew up in is being sold as a foreclosed property. He had a crazy idea about buying it himself but I think he’s gotten over that.



BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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