CNNMoney.com: Subprime loans defaulting even before resets

[lonestar2000]

I’m shocked! You mean that a household with a gross yearly income of $50,000 can’t afford an interest only payment of 1% on an $800,000 loan? Who would have thought?

http://money.cnn.com/2008/02/20/real_estate/loans_failing_pre_resets/index.htm?postversion=2008022010

[donaldduckmoore]

This report is consistent with Ramsey Su’s findings based on the previous SD public auction.

Guest Commentary: Ramsey on San Diego REO Auctions

What is the implication?

[cr]

Mr. Su was dead on. It’s hard to believe people can’t even make the introductory payments.

What is the implication?

Where to start:
– Real Estate isn’t a great investment
– Prices are nowhere near the bottom
– It’s not a good time to buy, even a foreclosure
– Not everyone wants to live here after all
– The consumer isn’t as strong as once thought
– You can’t spend your way to financial freedom
– Credit scores and pay stubs DO mean something
– Lowering rates is futile, and will make things worse

Any others?

[cr]

Mr. Su was dead on. It’s hard to believe people can’t even make the introductory payments.

What is the implication?

Where to start:
– Real Estate isn’t a great investment
– Prices are nowhere near the bottom
– It’s not a good time to buy, even a foreclosure
– Not everyone wants to live here after all
– The consumer isn’t as strong as once thought
– You can’t spend your way to financial freedom
– Credit scores and pay stubs DO mean something
– Lowering rates is futile, and will make things worse

Any others?

[cr]

Mr. Su was dead on. It’s hard to believe people can’t even make the introductory payments.

What is the implication?

Where to start:
– Real Estate isn’t a great investment
– Prices are nowhere near the bottom
– It’s not a good time to buy, even a foreclosure
– Not everyone wants to live here after all
– The consumer isn’t as strong as once thought
– You can’t spend your way to financial freedom
– Credit scores and pay stubs DO mean something
– Lowering rates is futile, and will make things worse

Any others?

[cr]

Mr. Su was dead on. It’s hard to believe people can’t even make the introductory payments.

What is the implication?

Where to start:
– Real Estate isn’t a great investment
– Prices are nowhere near the bottom
– It’s not a good time to buy, even a foreclosure
– Not everyone wants to live here after all
– The consumer isn’t as strong as once thought
– You can’t spend your way to financial freedom
– Credit scores and pay stubs DO mean something
– Lowering rates is futile, and will make things worse

Any others?

[cr]

Mr. Su was dead on. It’s hard to believe people can’t even make the introductory payments.

What is the implication?

Where to start:
– Real Estate isn’t a great investment
– Prices are nowhere near the bottom
– It’s not a good time to buy, even a foreclosure
– Not everyone wants to live here after all
– The consumer isn’t as strong as once thought
– You can’t spend your way to financial freedom
– Credit scores and pay stubs DO mean something
– Lowering rates is futile, and will make things worse

Any others?

[donaldduckmoore]

This report is consistent with Ramsey Su’s findings based on the previous SD public auction.

Guest Commentary: Ramsey on San Diego REO Auctions

What is the implication?

[donaldduckmoore]

This report is consistent with Ramsey Su’s findings based on the previous SD public auction.

Guest Commentary: Ramsey on San Diego REO Auctions

What is the implication?

[donaldduckmoore]

This report is consistent with Ramsey Su’s findings based on the previous SD public auction.

Guest Commentary: Ramsey on San Diego REO Auctions

What is the implication?

[donaldduckmoore]

This report is consistent with Ramsey Su’s findings based on the previous SD public auction.

Guest Commentary: Ramsey on San Diego REO Auctions

What is the implication?

[Author]

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