Bigger Wave of Loan Defaults Coming

[peterb]

This is shaping up to be the worst economic melt down since the 1930’s. Deflation is just cranking up to speed. Throw in increasing unemployment and we’ve got a long way yet to fall. I’ve never seen anything near to this in my life time and the bad news just keeps rolling in. This article does not address how many people may walk away from their mortgage simply because they are way underwater. Regardless of their ability to pay.
All I can say to someone who’s chomping at the bit to buy a house right now is,”I hope you really want the house and dont care that it will drop in value for at least another 2 years.” How will you feel when the place you bought for $650K in 2008 is worth $450K in 2010?

[an]

SD R, I totally agree. These bailouts after bailouts are going to drag this thing out much much longer than I would like. However, I think it’s very much a possibility if we get even more bailouts and more socializing of the housing and banking industry. It’s very unfortunate, but we might see a repeat of Japanese housing market from the 90s.

[an]

SD R, I totally agree. These bailouts after bailouts are going to drag this thing out much much longer than I would like. However, I think it’s very much a possibility if we get even more bailouts and more socializing of the housing and banking industry. It’s very unfortunate, but we might see a repeat of Japanese housing market from the 90s.

[an]

SD R, I totally agree. These bailouts after bailouts are going to drag this thing out much much longer than I would like. However, I think it’s very much a possibility if we get even more bailouts and more socializing of the housing and banking industry. It’s very unfortunate, but we might see a repeat of Japanese housing market from the 90s.

[an]

SD R, I totally agree. These bailouts after bailouts are going to drag this thing out much much longer than I would like. However, I think it’s very much a possibility if we get even more bailouts and more socializing of the housing and banking industry. It’s very unfortunate, but we might see a repeat of Japanese housing market from the 90s.

[an]

SD R, I totally agree. These bailouts after bailouts are going to drag this thing out much much longer than I would like. However, I think it’s very much a possibility if we get even more bailouts and more socializing of the housing and banking industry. It’s very unfortunate, but we might see a repeat of Japanese housing market from the 90s.

[cr]

AN, I thought the same thing but doctorhousingbubble.com made a good case for how ineffective the bailout will be for CA.

I don’t think the high end has seen the worst yet. Just because someone had a good credit score and made 200K+/yr doesn’t mean they didn’t fall for the same bubble euphoric high that subprime borrowers did. And for them, borrowing eas even easier.

[cr]

AN, I thought the same thing but doctorhousingbubble.com made a good case for how ineffective the bailout will be for CA.

I don’t think the high end has seen the worst yet. Just because someone had a good credit score and made 200K+/yr doesn’t mean they didn’t fall for the same bubble euphoric high that subprime borrowers did. And for them, borrowing eas even easier.

[cr]

AN, I thought the same thing but doctorhousingbubble.com made a good case for how ineffective the bailout will be for CA.

I don’t think the high end has seen the worst yet. Just because someone had a good credit score and made 200K+/yr doesn’t mean they didn’t fall for the same bubble euphoric high that subprime borrowers did. And for them, borrowing eas even easier.

[cr]

AN, I thought the same thing but doctorhousingbubble.com made a good case for how ineffective the bailout will be for CA.

I don’t think the high end has seen the worst yet. Just because someone had a good credit score and made 200K+/yr doesn’t mean they didn’t fall for the same bubble euphoric high that subprime borrowers did. And for them, borrowing eas even easier.

[cr]

AN, I thought the same thing but doctorhousingbubble.com made a good case for how ineffective the bailout will be for CA.

I don’t think the high end has seen the worst yet. Just because someone had a good credit score and made 200K+/yr doesn’t mean they didn’t fall for the same bubble euphoric high that subprime borrowers did. And for them, borrowing eas even easier.

[kev374]

[quote=SD Realtor]Conveniently omitted is that it now can take up to 300 days to foreclose, that the GSEs are also rewarding every step any lender takes to rewrite loans or sell short rather then foreclose, and oh yeah let’s see who the new president is next year. [/quote]

The lenders are not going to voluntarily take hair cuts because that will immediately impact their profitability which inturn could cause a run on their stock and that means the company is in much bigger problems. Therefore the bailout bill is not as going to do much!

[kev374]

[quote=SD Realtor]Conveniently omitted is that it now can take up to 300 days to foreclose, that the GSEs are also rewarding every step any lender takes to rewrite loans or sell short rather then foreclose, and oh yeah let’s see who the new president is next year. [/quote]

The lenders are not going to voluntarily take hair cuts because that will immediately impact their profitability which inturn could cause a run on their stock and that means the company is in much bigger problems. Therefore the bailout bill is not as going to do much!

[kev374]

[quote=SD Realtor]Conveniently omitted is that it now can take up to 300 days to foreclose, that the GSEs are also rewarding every step any lender takes to rewrite loans or sell short rather then foreclose, and oh yeah let’s see who the new president is next year. [/quote]

The lenders are not going to voluntarily take hair cuts because that will immediately impact their profitability which inturn could cause a run on their stock and that means the company is in much bigger problems. Therefore the bailout bill is not as going to do much!

[kev374]

[quote=SD Realtor]Conveniently omitted is that it now can take up to 300 days to foreclose, that the GSEs are also rewarding every step any lender takes to rewrite loans or sell short rather then foreclose, and oh yeah let’s see who the new president is next year. [/quote]

The lenders are not going to voluntarily take hair cuts because that will immediately impact their profitability which inturn could cause a run on their stock and that means the company is in much bigger problems. Therefore the bailout bill is not as going to do much!

[Author]

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