BofA Reductions

[sdrealtor]

25% is way too high. Dont believe 25% are strategic in nature around here and most of the strategic defaulters I run into just want to get it over with asap. They feel like they made a mistake, want to get the property sold asap, feel some sense fo guilt about it and just want it over so they can get on the road to recovery. At least that is what I see.

I did say “most” as I have run into some real slimebags.

[CA renter]

[quote=jpinpb]
In any case, I don’t see foreclosures happening as much as SS. Now that there are no fed or state tax implications, maybe there will be more short sales. From what I’m seeing out on the front of the REOs, some of the banks are listing for loan amounts of the first, some even higher than attempted short sale amounts.[/quote]

Yes, there are still far too many delusional sellers who believe today’s prices should be 2005 levels + xx%.

I hope the PTB grasp the fact that people who are now in their 40s+ don’t have much time to waste on this nonsense. We’re at the point where we’ll have to go from a 30-year to a 20-year (or less) mortgage because we’re running out of time.

They are chasing some of their best buyers out of the market, and making sure that when we do re-enter (if ever), we will be forced to pay even less because we won’t live/work long enough to pay off a 30-year mortgage.

The way this whole bubble has been handled sucks!

[CA renter]

[quote=jpinpb]
In any case, I don’t see foreclosures happening as much as SS. Now that there are no fed or state tax implications, maybe there will be more short sales. From what I’m seeing out on the front of the REOs, some of the banks are listing for loan amounts of the first, some even higher than attempted short sale amounts.[/quote]

Yes, there are still far too many delusional sellers who believe today’s prices should be 2005 levels + xx%.

I hope the PTB grasp the fact that people who are now in their 40s+ don’t have much time to waste on this nonsense. We’re at the point where we’ll have to go from a 30-year to a 20-year (or less) mortgage because we’re running out of time.

They are chasing some of their best buyers out of the market, and making sure that when we do re-enter (if ever), we will be forced to pay even less because we won’t live/work long enough to pay off a 30-year mortgage.

The way this whole bubble has been handled sucks!

[CA renter]

[quote=jpinpb]
In any case, I don’t see foreclosures happening as much as SS. Now that there are no fed or state tax implications, maybe there will be more short sales. From what I’m seeing out on the front of the REOs, some of the banks are listing for loan amounts of the first, some even higher than attempted short sale amounts.[/quote]

Yes, there are still far too many delusional sellers who believe today’s prices should be 2005 levels + xx%.

I hope the PTB grasp the fact that people who are now in their 40s+ don’t have much time to waste on this nonsense. We’re at the point where we’ll have to go from a 30-year to a 20-year (or less) mortgage because we’re running out of time.

They are chasing some of their best buyers out of the market, and making sure that when we do re-enter (if ever), we will be forced to pay even less because we won’t live/work long enough to pay off a 30-year mortgage.

The way this whole bubble has been handled sucks!

[CA renter]

[quote=jpinpb]
In any case, I don’t see foreclosures happening as much as SS. Now that there are no fed or state tax implications, maybe there will be more short sales. From what I’m seeing out on the front of the REOs, some of the banks are listing for loan amounts of the first, some even higher than attempted short sale amounts.[/quote]

Yes, there are still far too many delusional sellers who believe today’s prices should be 2005 levels + xx%.

I hope the PTB grasp the fact that people who are now in their 40s+ don’t have much time to waste on this nonsense. We’re at the point where we’ll have to go from a 30-year to a 20-year (or less) mortgage because we’re running out of time.

They are chasing some of their best buyers out of the market, and making sure that when we do re-enter (if ever), we will be forced to pay even less because we won’t live/work long enough to pay off a 30-year mortgage.

The way this whole bubble has been handled sucks!

[CA renter]

[quote=jpinpb]
In any case, I don’t see foreclosures happening as much as SS. Now that there are no fed or state tax implications, maybe there will be more short sales. From what I’m seeing out on the front of the REOs, some of the banks are listing for loan amounts of the first, some even higher than attempted short sale amounts.[/quote]

Yes, there are still far too many delusional sellers who believe today’s prices should be 2005 levels + xx%.

I hope the PTB grasp the fact that people who are now in their 40s+ don’t have much time to waste on this nonsense. We’re at the point where we’ll have to go from a 30-year to a 20-year (or less) mortgage because we’re running out of time.

They are chasing some of their best buyers out of the market, and making sure that when we do re-enter (if ever), we will be forced to pay even less because we won’t live/work long enough to pay off a 30-year mortgage.

The way this whole bubble has been handled sucks!

[jpinpb]

CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.

[jpinpb]

CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.

[jpinpb]

CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.

[jpinpb]

CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.

[jpinpb]

CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.

[CA renter]

[quote=jpinpb]CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.[/quote]

I think you should go for it. Didn’t you say you spoke Italian and had family over there?

If you think about it, the whole point of “owning” vs. renting is whether or not you control your housing costs if/when you retire.

People who are betting on price increases are simply speculating. You are not really “gaining equity” if prices are falling faster than you’re paying down the principal.

There are plenty of much more affordable places to live here and around the world. If we end up not “owning” here, it’s really not the worst that can happen. It just means moving to a more affordable place to retire.

It is frustrating, though!

[CA renter]

[quote=jpinpb]CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.[/quote]

I think you should go for it. Didn’t you say you spoke Italian and had family over there?

If you think about it, the whole point of “owning” vs. renting is whether or not you control your housing costs if/when you retire.

People who are betting on price increases are simply speculating. You are not really “gaining equity” if prices are falling faster than you’re paying down the principal.

There are plenty of much more affordable places to live here and around the world. If we end up not “owning” here, it’s really not the worst that can happen. It just means moving to a more affordable place to retire.

It is frustrating, though!

[CA renter]

[quote=jpinpb]CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.[/quote]

I think you should go for it. Didn’t you say you spoke Italian and had family over there?

If you think about it, the whole point of “owning” vs. renting is whether or not you control your housing costs if/when you retire.

People who are betting on price increases are simply speculating. You are not really “gaining equity” if prices are falling faster than you’re paying down the principal.

There are plenty of much more affordable places to live here and around the world. If we end up not “owning” here, it’s really not the worst that can happen. It just means moving to a more affordable place to retire.

It is frustrating, though!

[CA renter]

[quote=jpinpb]CAR – So funny you say this b/c I was thinking the same darn thing. I’m so discouraged and frustrated, I’m about ready to just give up. If it doesn’t make sense to buy, I’m just going to keep renting until I retire — and it won’t be here. My friend opened a B&B on Isola d’Elba and it’s tempting to just call it quits and move there.[/quote]

I think you should go for it. Didn’t you say you spoke Italian and had family over there?

If you think about it, the whole point of “owning” vs. renting is whether or not you control your housing costs if/when you retire.

People who are betting on price increases are simply speculating. You are not really “gaining equity” if prices are falling faster than you’re paying down the principal.

There are plenty of much more affordable places to live here and around the world. If we end up not “owning” here, it’s really not the worst that can happen. It just means moving to a more affordable place to retire.

It is frustrating, though!

[Author]

Posts