[quote=sdrealtor]Price declines have stopped, there are some signs prices could start rising (and people have seen how and how fast they can rise) rents are rising, people who needed to get out already did for the most part, most people with equity are happy where they are…..why sell?[/quote]
I understand all this, but am STILL seeing properties that have now had more than a dozen TS postponements. Two of these have opening bids equal to 2x current market value! One has to wonder why the affected lender has chosen to let the situation get this far out of hand.
I’m also seeing NOD’s filed between one and two years ago that couldn’t have possibly been cured/redeemed and where no NOS has yet been filed. It is worrisome to me what may be going on here, ESP since I have knowledge that some of the particular homedebtors in question have little to no real income to speak of.
I often wonder how many of these older NOD’s there are out there filed on properties in which the current notes(s) secured by TD’s cannot successfully be modified. More specifically, I wonder at what degree of being “shafted” by game-playing homedebtors will these affected lenders finally call it a day and do what they should have done all along … that is, foreclose.
I wish the law in CA provided for mandatory recordation of mortgage loan mods. This would clear up a lot of public confusion as to how MUCH “distress” actually still remains in the RE market.
