foreclosure wave about to hit — again! — and with a thunderous roar no less (per TG’s ladyfriend)

[Rich Toscano]

Let the Short Sales Begin
SHORT SELLS, SHORT SELLING
Posted By: Diana Olick | CNBC Real Estate Reporter
cnbc.com
| 05 Apr 2010 | 01:57 PM ET
Today the Administration’s Home Affordable Foreclosure Alternative Plan takes effect, offering incentives to borrowers, servicers, investors and second lien holders to push short sales through the system. Yep, everyone gets a cut of government funds to get these troubled borrowers out of their homes and get them sold, even if the sale price is less than the value of the loan.

I find it interesting that before the plan even went into effect today, the Administration upped the incentives a week ago, doubling the amount of cash to $3000 offered as borrower “relocation expenses” and juicing the payoffs to the others as well. Of course they want to push short sales because of course they know that their modification program isn’t working as planned.

But the biggest impediment to the plan is the lenders themselves, who have to weigh what’s going to save them the most money and cause them the least bleeding on their books.

Is it a short sale or a foreclosure sale?

We’re already seeing inventories shrinking way down out West, where banks are holding on to foreclosed properties and manipulating prices to their advantage.

I’m also starting to hear rumblings among the number crunchers that the wave of foreclosures we keep hearing about is about to hit with a thunderous roar.

Servicers are ramping up the mod process and pushing those who don’t qualify out the door more quickly than ever. A big jump in inventories, which we already saw last month, right in the midst of the Spring market will turn home prices on their heels.

Don’t get me wrong, I’m loving the jump we saw today in the Pending Home Sales Index, but there was just something a little too hesitant in the Realtors’ report. They seem to be talking about hints and hopes, rather than real change.

[temeculaguy]

You are right Rich, my beloved Diana has always been a moderate through this whole thing, she seemed bearish at the peak, but always backed it up with facts and not twisted ones used for hype. I read that article when it first came out because it is the lead story on cnbc and was a bit shocked she didn’t qualify her statement about banks out west holding onto properties to manipulate prices. She did qualify her statement about the tsuinami. She gets more inside scoop than we do and parses it out as needed, usually she is right. While not the hottest of the cnbc sirens, she is the smartest, so she gets my goat than the others.

With the employment numbers getting better by the day and actually revising to the good, the stock market flirting with 11k and the rise in pendings as we enter the strong season, I can’t figure out why my girl has turned bearish. All I can say is that there may be something on the horizon that we have not been made aware of, there has to be a reason why her compass is pointing South when all the rest point North, because that is not how she usually rolls.

In case she reads this, the offer is still on the table: A weekend in a five star hotel, room service for every meal, a fistfull of viagra, remember to rest up and pack light, I’ll make you see god.

[temeculaguy]

You are right Rich, my beloved Diana has always been a moderate through this whole thing, she seemed bearish at the peak, but always backed it up with facts and not twisted ones used for hype. I read that article when it first came out because it is the lead story on cnbc and was a bit shocked she didn’t qualify her statement about banks out west holding onto properties to manipulate prices. She did qualify her statement about the tsuinami. She gets more inside scoop than we do and parses it out as needed, usually she is right. While not the hottest of the cnbc sirens, she is the smartest, so she gets my goat than the others.

With the employment numbers getting better by the day and actually revising to the good, the stock market flirting with 11k and the rise in pendings as we enter the strong season, I can’t figure out why my girl has turned bearish. All I can say is that there may be something on the horizon that we have not been made aware of, there has to be a reason why her compass is pointing South when all the rest point North, because that is not how she usually rolls.

In case she reads this, the offer is still on the table: A weekend in a five star hotel, room service for every meal, a fistfull of viagra, remember to rest up and pack light, I’ll make you see god.

[temeculaguy]

You are right Rich, my beloved Diana has always been a moderate through this whole thing, she seemed bearish at the peak, but always backed it up with facts and not twisted ones used for hype. I read that article when it first came out because it is the lead story on cnbc and was a bit shocked she didn’t qualify her statement about banks out west holding onto properties to manipulate prices. She did qualify her statement about the tsuinami. She gets more inside scoop than we do and parses it out as needed, usually she is right. While not the hottest of the cnbc sirens, she is the smartest, so she gets my goat than the others.

With the employment numbers getting better by the day and actually revising to the good, the stock market flirting with 11k and the rise in pendings as we enter the strong season, I can’t figure out why my girl has turned bearish. All I can say is that there may be something on the horizon that we have not been made aware of, there has to be a reason why her compass is pointing South when all the rest point North, because that is not how she usually rolls.

In case she reads this, the offer is still on the table: A weekend in a five star hotel, room service for every meal, a fistfull of viagra, remember to rest up and pack light, I’ll make you see god.

[temeculaguy]

You are right Rich, my beloved Diana has always been a moderate through this whole thing, she seemed bearish at the peak, but always backed it up with facts and not twisted ones used for hype. I read that article when it first came out because it is the lead story on cnbc and was a bit shocked she didn’t qualify her statement about banks out west holding onto properties to manipulate prices. She did qualify her statement about the tsuinami. She gets more inside scoop than we do and parses it out as needed, usually she is right. While not the hottest of the cnbc sirens, she is the smartest, so she gets my goat than the others.

With the employment numbers getting better by the day and actually revising to the good, the stock market flirting with 11k and the rise in pendings as we enter the strong season, I can’t figure out why my girl has turned bearish. All I can say is that there may be something on the horizon that we have not been made aware of, there has to be a reason why her compass is pointing South when all the rest point North, because that is not how she usually rolls.

In case she reads this, the offer is still on the table: A weekend in a five star hotel, room service for every meal, a fistfull of viagra, remember to rest up and pack light, I’ll make you see god.

[temeculaguy]

You are right Rich, my beloved Diana has always been a moderate through this whole thing, she seemed bearish at the peak, but always backed it up with facts and not twisted ones used for hype. I read that article when it first came out because it is the lead story on cnbc and was a bit shocked she didn’t qualify her statement about banks out west holding onto properties to manipulate prices. She did qualify her statement about the tsuinami. She gets more inside scoop than we do and parses it out as needed, usually she is right. While not the hottest of the cnbc sirens, she is the smartest, so she gets my goat than the others.

With the employment numbers getting better by the day and actually revising to the good, the stock market flirting with 11k and the rise in pendings as we enter the strong season, I can’t figure out why my girl has turned bearish. All I can say is that there may be something on the horizon that we have not been made aware of, there has to be a reason why her compass is pointing South when all the rest point North, because that is not how she usually rolls.

In case she reads this, the offer is still on the table: A weekend in a five star hotel, room service for every meal, a fistfull of viagra, remember to rest up and pack light, I’ll make you see god.

[mercedes7]

Wow TG that is some proposition. I thought you were taken…LOL.

[mercedes7]

Wow TG that is some proposition. I thought you were taken…LOL.

[mercedes7]

Wow TG that is some proposition. I thought you were taken…LOL.

[mercedes7]

Wow TG that is some proposition. I thought you were taken…LOL.

[mercedes7]

Wow TG that is some proposition. I thought you were taken…LOL.

[barnaby33]

Wow TG, turned the corner on unemployment?!? Sad to see a good man go bad.
Josh

[barnaby33]

Wow TG, turned the corner on unemployment?!? Sad to see a good man go bad.
Josh

[barnaby33]

Wow TG, turned the corner on unemployment?!? Sad to see a good man go bad.
Josh

[barnaby33]

Wow TG, turned the corner on unemployment?!? Sad to see a good man go bad.
Josh

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