So far the (stronger)financial institutions and pols seem to want a correction plus bailouts of the type we are seeing. Foreclosure moratoriums could still be in the future. I think unemployment would have to go up quite a bit.
In the depression 25 states succeeded in placing foreclosure moratoriums, some for as long as 5 years. Aguirre was scoffed at for his “safe haven comments” but he has company… and it could grow.I have read that he has been harping AG Brown to get out of closed door meetings with the banks and and join him and his supporters.
When average people who bought responsibly and have fixed mortgages with no additional loan balances from time of purchase start to get evicted by foreclosures(probably because of unemployment), in mass, we might see more grass roots organization in this direction.
I guess It depends on how far the economy spins out of control.
It is obvious, as several posters have stated, that more “gubmint” intervention is in the works.Whether or not we get to this is to be seen but I think the selective use of moratoriums is possible.
As SDR has said many times, and may be correct about, it could be a whole new ball game if the liberal, populist element gets strengthened in these elections.
I think it would be kind of a surreal experience buying a house under a foreclosure moratorium. Wierd.
There’ll be no talk about moratorium after the elections. I expect quick mark-to-market all-around as the only way to end the initial denial phase and with minimal risk for the establishment.
There’ll be no talk about moratorium after the elections. I expect quick mark-to-market all-around as the only way to end the initial denial phase and with minimal risk for the establishment.
There’ll be no talk about moratorium after the elections. I expect quick mark-to-market all-around as the only way to end the initial denial phase and with minimal risk for the establishment.
There’ll be no talk about moratorium after the elections. I expect quick mark-to-market all-around as the only way to end the initial denial phase and with minimal risk for the establishment.
There’ll be no talk about moratorium after the elections. I expect quick mark-to-market all-around as the only way to end the initial denial phase and with minimal risk for the establishment.
On top of that, a recent report from the Mortgage Bankers Association indicated that lenders are delaying foreclosure altogether. They reported that while 6.41 percent of all loans were delinquent, just 2.75 percent were in foreclosure.
It seems to be a tough market for buyers this fall/winter as well.
[quote=sdrealtor]I cant speak for the RE guys around here but the uptick in activity the last few days has been VERY, VERY noticable. Interest rates are under 6% for conventional loans and the payment on a 500K loan dropped more than $400/month. In areas with qualified buyers and relatively low inventory levels the market appears to have strengthened quite a bit around here.[/quote]
On top of that, a recent report from the Mortgage Bankers Association indicated that lenders are delaying foreclosure altogether. They reported that while 6.41 percent of all loans were delinquent, just 2.75 percent were in foreclosure.
It seems to be a tough market for buyers this fall/winter as well.
[quote=sdrealtor]I cant speak for the RE guys around here but the uptick in activity the last few days has been VERY, VERY noticable. Interest rates are under 6% for conventional loans and the payment on a 500K loan dropped more than $400/month. In areas with qualified buyers and relatively low inventory levels the market appears to have strengthened quite a bit around here.[/quote]
On top of that, a recent report from the Mortgage Bankers Association indicated that lenders are delaying foreclosure altogether. They reported that while 6.41 percent of all loans were delinquent, just 2.75 percent were in foreclosure.
It seems to be a tough market for buyers this fall/winter as well.
[quote=sdrealtor]I cant speak for the RE guys around here but the uptick in activity the last few days has been VERY, VERY noticable. Interest rates are under 6% for conventional loans and the payment on a 500K loan dropped more than $400/month. In areas with qualified buyers and relatively low inventory levels the market appears to have strengthened quite a bit around here.[/quote]
On top of that, a recent report from the Mortgage Bankers Association indicated that lenders are delaying foreclosure altogether. They reported that while 6.41 percent of all loans were delinquent, just 2.75 percent were in foreclosure.
It seems to be a tough market for buyers this fall/winter as well.
[quote=sdrealtor]I cant speak for the RE guys around here but the uptick in activity the last few days has been VERY, VERY noticable. Interest rates are under 6% for conventional loans and the payment on a 500K loan dropped more than $400/month. In areas with qualified buyers and relatively low inventory levels the market appears to have strengthened quite a bit around here.[/quote]
