I don’t mean to highjack this tread, but I’ve heard on NPR news today that there are 60,000 late property tax notice letters sent out (aprox $210 million) in SD County.
Now, I’m looking at the note from CR
“FHA Commissioner: Housing on “Life support”, “very sick system”
by CalculatedRisk on 5/24/2010 05:55:00 PM
“This is a market purely on life support, sustained by the federal government. Having FHA do this much volume is a sign of a very sick system.”
Federal Housing Commissioner David Stevens at Mortgage Bankers Association Government Housing Conference (see Bloomberg, the FHA was involved in more transactions in Q1 than Fannie and Freddie combined)”
My take on this that something will have to change sooner or later (sooner in my mind, yet that’s a common sense prospective……which doesn’t weight much nowadays)
