CA Shadow Inventory

[jpinpb]

Are we also not going to consider the competition. Rents are still lower than buying. W/uncertainty in employment and housing, some may opt to rent. As much as I want a house, I refuse to go in over my head.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[temeculaguy]

FSD, I am increasingly impressed with your writing style. Sarcasm is difficult to pull off in text form, so is coining new phrases, you are doing both very well. Maybe it’s that I agree with you or that I share your frustration (I know there will be a certain amount of recycling moving forward but don’t know the when, how or the effect it will have precisely becuase there are more variables than just supply). Whatever the case, I find myself looking forward to your comments more and more, just thought I’d let you know that from a readers perspective, you are on a roll lately.

[peterb]

Only the shadow knows. But the facts are that well over 10% of all existing mortgages are in some form of non-payment and the official level of unemployment is at 12.2%. This is a strong indicator that these loans will not be cured. But as someone mentioned a while back, the other shadow is all the people that are paying their mortgage but wish they werent. Their under house-arrest as they’d like to sell, but they’re upside- down in their loan. The losses have been so devistating that I think residential real estate will take quite a while to get out from under all this downward pressure

[peterb]

Only the shadow knows. But the facts are that well over 10% of all existing mortgages are in some form of non-payment and the official level of unemployment is at 12.2%. This is a strong indicator that these loans will not be cured. But as someone mentioned a while back, the other shadow is all the people that are paying their mortgage but wish they werent. Their under house-arrest as they’d like to sell, but they’re upside- down in their loan. The losses have been so devistating that I think residential real estate will take quite a while to get out from under all this downward pressure

[peterb]

Only the shadow knows. But the facts are that well over 10% of all existing mortgages are in some form of non-payment and the official level of unemployment is at 12.2%. This is a strong indicator that these loans will not be cured. But as someone mentioned a while back, the other shadow is all the people that are paying their mortgage but wish they werent. Their under house-arrest as they’d like to sell, but they’re upside- down in their loan. The losses have been so devistating that I think residential real estate will take quite a while to get out from under all this downward pressure

[peterb]

Only the shadow knows. But the facts are that well over 10% of all existing mortgages are in some form of non-payment and the official level of unemployment is at 12.2%. This is a strong indicator that these loans will not be cured. But as someone mentioned a while back, the other shadow is all the people that are paying their mortgage but wish they werent. Their under house-arrest as they’d like to sell, but they’re upside- down in their loan. The losses have been so devistating that I think residential real estate will take quite a while to get out from under all this downward pressure

[peterb]

Only the shadow knows. But the facts are that well over 10% of all existing mortgages are in some form of non-payment and the official level of unemployment is at 12.2%. This is a strong indicator that these loans will not be cured. But as someone mentioned a while back, the other shadow is all the people that are paying their mortgage but wish they werent. Their under house-arrest as they’d like to sell, but they’re upside- down in their loan. The losses have been so devistating that I think residential real estate will take quite a while to get out from under all this downward pressure

[sdrealtor]

Here’s a new story from the field about a shadow inventory house. I have never heard one like this but when I hear one I gotta beleive there are others. It’s a true story and some posters will write it off as a realtor fabrication but its not. I do not have the exact details but what i have is close enough. I was floored and still am. I was actually out partying last nite with a regular Pigg poster who can cooberate it.

I bumped into an old client who tried but failed to sell his house a couple years ago because he couldnt get what he wanted/needed. He had an extended period of unemployment and refi’d into a neg am Option ARM just under 600K about a year before he tried to sell. He neg am’d up to around 700K and it recast. He couldnt afford the payments so he stopped paying. He approached the bank for a loan mod and went back and forth for about a year. He owed almost 700K plus another $50K in missed payments. He was willing and ready to walk if the bank foreclosed. Out of nowhere he got contacted by the bank with an offer. New loan for about $490K and a sub 5% 30 yr fixed rate. Thats a principle reduction of about $200K plus forgiving a years worth of interest payments.

Oops there goes another shadow inventory house, oops there goes another…….

[sdrealtor]

Here’s a new story from the field about a shadow inventory house. I have never heard one like this but when I hear one I gotta beleive there are others. It’s a true story and some posters will write it off as a realtor fabrication but its not. I do not have the exact details but what i have is close enough. I was floored and still am. I was actually out partying last nite with a regular Pigg poster who can cooberate it.

I bumped into an old client who tried but failed to sell his house a couple years ago because he couldnt get what he wanted/needed. He had an extended period of unemployment and refi’d into a neg am Option ARM just under 600K about a year before he tried to sell. He neg am’d up to around 700K and it recast. He couldnt afford the payments so he stopped paying. He approached the bank for a loan mod and went back and forth for about a year. He owed almost 700K plus another $50K in missed payments. He was willing and ready to walk if the bank foreclosed. Out of nowhere he got contacted by the bank with an offer. New loan for about $490K and a sub 5% 30 yr fixed rate. Thats a principle reduction of about $200K plus forgiving a years worth of interest payments.

Oops there goes another shadow inventory house, oops there goes another…….

[sdrealtor]

Here’s a new story from the field about a shadow inventory house. I have never heard one like this but when I hear one I gotta beleive there are others. It’s a true story and some posters will write it off as a realtor fabrication but its not. I do not have the exact details but what i have is close enough. I was floored and still am. I was actually out partying last nite with a regular Pigg poster who can cooberate it.

I bumped into an old client who tried but failed to sell his house a couple years ago because he couldnt get what he wanted/needed. He had an extended period of unemployment and refi’d into a neg am Option ARM just under 600K about a year before he tried to sell. He neg am’d up to around 700K and it recast. He couldnt afford the payments so he stopped paying. He approached the bank for a loan mod and went back and forth for about a year. He owed almost 700K plus another $50K in missed payments. He was willing and ready to walk if the bank foreclosed. Out of nowhere he got contacted by the bank with an offer. New loan for about $490K and a sub 5% 30 yr fixed rate. Thats a principle reduction of about $200K plus forgiving a years worth of interest payments.

Oops there goes another shadow inventory house, oops there goes another…….

[sdrealtor]

Here’s a new story from the field about a shadow inventory house. I have never heard one like this but when I hear one I gotta beleive there are others. It’s a true story and some posters will write it off as a realtor fabrication but its not. I do not have the exact details but what i have is close enough. I was floored and still am. I was actually out partying last nite with a regular Pigg poster who can cooberate it.

I bumped into an old client who tried but failed to sell his house a couple years ago because he couldnt get what he wanted/needed. He had an extended period of unemployment and refi’d into a neg am Option ARM just under 600K about a year before he tried to sell. He neg am’d up to around 700K and it recast. He couldnt afford the payments so he stopped paying. He approached the bank for a loan mod and went back and forth for about a year. He owed almost 700K plus another $50K in missed payments. He was willing and ready to walk if the bank foreclosed. Out of nowhere he got contacted by the bank with an offer. New loan for about $490K and a sub 5% 30 yr fixed rate. Thats a principle reduction of about $200K plus forgiving a years worth of interest payments.

Oops there goes another shadow inventory house, oops there goes another…….

[Author]

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