Industry News

The mortgage debit card debuts

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: Looking ahead to 2010 we are optimistic that the real estate world will be better, but we also expect radical change. Paul Saffo, at the Institute for the Future, once said that in a two-year period less happens than we would have thought, and in a 10-year period more happens than we could ever imagine. This four-part series is a fun look at what the future may hold for the real estate industry. The predictions are not fact. (See Part 1: Where will we be in 2010?; Part 3: REM: The Real Estate Marketplace and Part 4: Visionaries pull back curtain on real estate future.) The encrypted text message on my PDA read: "Send the electronic verification of your MDAA and we can close on the house today – 10:00 a.m., Monday, October 15, 2010." My MDAA (mortgage debt allowance account) had reached $5.9 million, so purchasing the small $3.3 million studio on the upper West Side of Manhattan was as simple as buying an online version of Michael Moore's new documentary "The ...