About half of U.S. mortgages seen underwater by 2011

[an]

The tsunami will come, it has to. I’m waiting to get my house on a quarter acre lot in Solana Beach for 500k.

[NotCranky]

SDR is right, If he is laughing I want some of what he is taking. Maybe we should be looking for quitclaim action on upside down pre-2007(or whatever the modification cut-off date is) houses, that can strategically defaulted on at just the right moment for uncle sugar to cut us some slack. I know there are probably stipulations that the benificairies of hand-outs be the original mortgagee….still maybe someone will stick around and work with it.LOL.

[NotCranky]

SDR is right, If he is laughing I want some of what he is taking. Maybe we should be looking for quitclaim action on upside down pre-2007(or whatever the modification cut-off date is) houses, that can strategically defaulted on at just the right moment for uncle sugar to cut us some slack. I know there are probably stipulations that the benificairies of hand-outs be the original mortgagee….still maybe someone will stick around and work with it.LOL.

[NotCranky]

SDR is right, If he is laughing I want some of what he is taking. Maybe we should be looking for quitclaim action on upside down pre-2007(or whatever the modification cut-off date is) houses, that can strategically defaulted on at just the right moment for uncle sugar to cut us some slack. I know there are probably stipulations that the benificairies of hand-outs be the original mortgagee….still maybe someone will stick around and work with it.LOL.

[NotCranky]

SDR is right, If he is laughing I want some of what he is taking. Maybe we should be looking for quitclaim action on upside down pre-2007(or whatever the modification cut-off date is) houses, that can strategically defaulted on at just the right moment for uncle sugar to cut us some slack. I know there are probably stipulations that the benificairies of hand-outs be the original mortgagee….still maybe someone will stick around and work with it.LOL.

[NotCranky]

SDR is right, If he is laughing I want some of what he is taking. Maybe we should be looking for quitclaim action on upside down pre-2007(or whatever the modification cut-off date is) houses, that can strategically defaulted on at just the right moment for uncle sugar to cut us some slack. I know there are probably stipulations that the benificairies of hand-outs be the original mortgagee….still maybe someone will stick around and work with it.LOL.

[blahblahblah]

SD Realtor is right. Who do you think is going to come out ahead?

1) Banks
2) Homedebtors in over their heads
3) Prudent savers waiting for that $500K house on 1/4 acre in Del Mar

My money is on a full bailout of #1 (after all the small players have been gobbled up by the big boys) with a few scraps (refis, renegotiating mortgage amounts, etc…) tossed to #2. #3 is such a small minority that they’re not even worth considering, at least in the government’s eyes. Their savings will be wiped out by inflation from all the bailout money.

As for what to do, don’t ask me, I don’t have a freaking clue. You can do what I did, find a house you can afford, buy it and wait for the apocalypse.

[blahblahblah]

SD Realtor is right. Who do you think is going to come out ahead?

1) Banks
2) Homedebtors in over their heads
3) Prudent savers waiting for that $500K house on 1/4 acre in Del Mar

My money is on a full bailout of #1 (after all the small players have been gobbled up by the big boys) with a few scraps (refis, renegotiating mortgage amounts, etc…) tossed to #2. #3 is such a small minority that they’re not even worth considering, at least in the government’s eyes. Their savings will be wiped out by inflation from all the bailout money.

As for what to do, don’t ask me, I don’t have a freaking clue. You can do what I did, find a house you can afford, buy it and wait for the apocalypse.

[blahblahblah]

SD Realtor is right. Who do you think is going to come out ahead?

1) Banks
2) Homedebtors in over their heads
3) Prudent savers waiting for that $500K house on 1/4 acre in Del Mar

My money is on a full bailout of #1 (after all the small players have been gobbled up by the big boys) with a few scraps (refis, renegotiating mortgage amounts, etc…) tossed to #2. #3 is such a small minority that they’re not even worth considering, at least in the government’s eyes. Their savings will be wiped out by inflation from all the bailout money.

As for what to do, don’t ask me, I don’t have a freaking clue. You can do what I did, find a house you can afford, buy it and wait for the apocalypse.

[blahblahblah]

SD Realtor is right. Who do you think is going to come out ahead?

1) Banks
2) Homedebtors in over their heads
3) Prudent savers waiting for that $500K house on 1/4 acre in Del Mar

My money is on a full bailout of #1 (after all the small players have been gobbled up by the big boys) with a few scraps (refis, renegotiating mortgage amounts, etc…) tossed to #2. #3 is such a small minority that they’re not even worth considering, at least in the government’s eyes. Their savings will be wiped out by inflation from all the bailout money.

As for what to do, don’t ask me, I don’t have a freaking clue. You can do what I did, find a house you can afford, buy it and wait for the apocalypse.

[blahblahblah]

SD Realtor is right. Who do you think is going to come out ahead?

1) Banks
2) Homedebtors in over their heads
3) Prudent savers waiting for that $500K house on 1/4 acre in Del Mar

My money is on a full bailout of #1 (after all the small players have been gobbled up by the big boys) with a few scraps (refis, renegotiating mortgage amounts, etc…) tossed to #2. #3 is such a small minority that they’re not even worth considering, at least in the government’s eyes. Their savings will be wiped out by inflation from all the bailout money.

As for what to do, don’t ask me, I don’t have a freaking clue. You can do what I did, find a house you can afford, buy it and wait for the apocalypse.

[peterb]

Lenders dont seem to want to recognize non-payment on mortgages. Why should they change this attitude if it only threatens their existance? FASB has been changed. It’s a new reality. It’s a win/win. Free rent and the lender stays in business. Just one more lie on the pile of financial fraud that will eventually collapse. It’s not “if”, it’s “when”. But “when” could last a while yet.

[peterb]

Lenders dont seem to want to recognize non-payment on mortgages. Why should they change this attitude if it only threatens their existance? FASB has been changed. It’s a new reality. It’s a win/win. Free rent and the lender stays in business. Just one more lie on the pile of financial fraud that will eventually collapse. It’s not “if”, it’s “when”. But “when” could last a while yet.

[peterb]

Lenders dont seem to want to recognize non-payment on mortgages. Why should they change this attitude if it only threatens their existance? FASB has been changed. It’s a new reality. It’s a win/win. Free rent and the lender stays in business. Just one more lie on the pile of financial fraud that will eventually collapse. It’s not “if”, it’s “when”. But “when” could last a while yet.

[peterb]

Lenders dont seem to want to recognize non-payment on mortgages. Why should they change this attitude if it only threatens their existance? FASB has been changed. It’s a new reality. It’s a win/win. Free rent and the lender stays in business. Just one more lie on the pile of financial fraud that will eventually collapse. It’s not “if”, it’s “when”. But “when” could last a while yet.

[Author]

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