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May 7, 2009 at 7:58 AM #394937May 7, 2009 at 8:34 AM #394289Rt.66Participant
[quote=temeculaguy]What happens after this wave? There’s no talk about another wave beyond this one. [/quote]
An economist in the Kansas City said this Thursday that a second grueling wave of the house foreclosure is perched to hit as the subprime mortgage chaos recedes.
Senior economist of the Federal Research Bank of Kansas City, Kelly Edmiston crashed that unwanted prediction at the Fed’s Money Smart program.
“I don’t expect the foreclosure problem to get much better in the next couple of years. In fact, it may well get worse,” Edmiston told.
Subprime mortgages stimulated their personal foreclosure catastrophe before because their expenses naturally rearrange after two years rather than five.
As said by Edmiston, such next mortgage rearranges will denote even bigger jumps in house costs than subprime mortgage retunes that compelled one in every five borrowers with changeable interest rates to foreclosure
http://www.foreclosurewarehouse.com/blog/fed-economist-claims-the-coming-of-second-wave-of-foreclosure/
————–
Mortgage Modifications Fail, Huge Foreclosure Wave Coming
http://www.businessinsider.com/mortgage-modifications-fail-huge-foreclosure-wave-coming-2009-4
——————The Next Wave Of Foreclosures
Maurna Desmond, 04.22.09, 12:01 AM EDT
Falling home prices and rising unemployment are set to spread the pain.Moody’s estimates that if the Obama administration’s two-pronged anti-foreclosure effort gets going, there will still be more than 5 million foreclosures over the next three years. “At the moment, that feels optimistic to me,” Zandi says.
—————Coming Wave of Resets – Is there a Simple Answer?
According to an article written last week by Eric Uhlfelder, Credit Suisse maintains that about $1 trillion in Alt-A and option payment mortgages are scheduled to have rate resets in the next 30 months. These resets, the bank says, could cause as much future damage as the subprime crisis has already inflicted.
—————–
4-10 Forward Look at Defaults, Foreclosures, Banks and Housing
Saturday, April 11th, 2009 | By Mr. MortgageBut coming down the pipe is a massive wave of mortgage Notice-of-Defaults (NOD) that dwarfs the highs we saw when things began to get really out of control in Q1 2008.
May 7, 2009 at 8:34 AM #394546Rt.66Participant[quote=temeculaguy]What happens after this wave? There’s no talk about another wave beyond this one. [/quote]
An economist in the Kansas City said this Thursday that a second grueling wave of the house foreclosure is perched to hit as the subprime mortgage chaos recedes.
Senior economist of the Federal Research Bank of Kansas City, Kelly Edmiston crashed that unwanted prediction at the Fed’s Money Smart program.
“I don’t expect the foreclosure problem to get much better in the next couple of years. In fact, it may well get worse,” Edmiston told.
Subprime mortgages stimulated their personal foreclosure catastrophe before because their expenses naturally rearrange after two years rather than five.
As said by Edmiston, such next mortgage rearranges will denote even bigger jumps in house costs than subprime mortgage retunes that compelled one in every five borrowers with changeable interest rates to foreclosure
http://www.foreclosurewarehouse.com/blog/fed-economist-claims-the-coming-of-second-wave-of-foreclosure/
————–
Mortgage Modifications Fail, Huge Foreclosure Wave Coming
http://www.businessinsider.com/mortgage-modifications-fail-huge-foreclosure-wave-coming-2009-4
——————The Next Wave Of Foreclosures
Maurna Desmond, 04.22.09, 12:01 AM EDT
Falling home prices and rising unemployment are set to spread the pain.Moody’s estimates that if the Obama administration’s two-pronged anti-foreclosure effort gets going, there will still be more than 5 million foreclosures over the next three years. “At the moment, that feels optimistic to me,” Zandi says.
—————Coming Wave of Resets – Is there a Simple Answer?
According to an article written last week by Eric Uhlfelder, Credit Suisse maintains that about $1 trillion in Alt-A and option payment mortgages are scheduled to have rate resets in the next 30 months. These resets, the bank says, could cause as much future damage as the subprime crisis has already inflicted.
—————–
4-10 Forward Look at Defaults, Foreclosures, Banks and Housing
Saturday, April 11th, 2009 | By Mr. MortgageBut coming down the pipe is a massive wave of mortgage Notice-of-Defaults (NOD) that dwarfs the highs we saw when things began to get really out of control in Q1 2008.
May 7, 2009 at 8:34 AM #394763Rt.66Participant[quote=temeculaguy]What happens after this wave? There’s no talk about another wave beyond this one. [/quote]
An economist in the Kansas City said this Thursday that a second grueling wave of the house foreclosure is perched to hit as the subprime mortgage chaos recedes.
Senior economist of the Federal Research Bank of Kansas City, Kelly Edmiston crashed that unwanted prediction at the Fed’s Money Smart program.
“I don’t expect the foreclosure problem to get much better in the next couple of years. In fact, it may well get worse,” Edmiston told.
Subprime mortgages stimulated their personal foreclosure catastrophe before because their expenses naturally rearrange after two years rather than five.
As said by Edmiston, such next mortgage rearranges will denote even bigger jumps in house costs than subprime mortgage retunes that compelled one in every five borrowers with changeable interest rates to foreclosure
http://www.foreclosurewarehouse.com/blog/fed-economist-claims-the-coming-of-second-wave-of-foreclosure/
————–
Mortgage Modifications Fail, Huge Foreclosure Wave Coming
http://www.businessinsider.com/mortgage-modifications-fail-huge-foreclosure-wave-coming-2009-4
——————The Next Wave Of Foreclosures
Maurna Desmond, 04.22.09, 12:01 AM EDT
Falling home prices and rising unemployment are set to spread the pain.Moody’s estimates that if the Obama administration’s two-pronged anti-foreclosure effort gets going, there will still be more than 5 million foreclosures over the next three years. “At the moment, that feels optimistic to me,” Zandi says.
—————Coming Wave of Resets – Is there a Simple Answer?
According to an article written last week by Eric Uhlfelder, Credit Suisse maintains that about $1 trillion in Alt-A and option payment mortgages are scheduled to have rate resets in the next 30 months. These resets, the bank says, could cause as much future damage as the subprime crisis has already inflicted.
—————–
4-10 Forward Look at Defaults, Foreclosures, Banks and Housing
Saturday, April 11th, 2009 | By Mr. MortgageBut coming down the pipe is a massive wave of mortgage Notice-of-Defaults (NOD) that dwarfs the highs we saw when things began to get really out of control in Q1 2008.
May 7, 2009 at 8:34 AM #394816Rt.66Participant[quote=temeculaguy]What happens after this wave? There’s no talk about another wave beyond this one. [/quote]
An economist in the Kansas City said this Thursday that a second grueling wave of the house foreclosure is perched to hit as the subprime mortgage chaos recedes.
Senior economist of the Federal Research Bank of Kansas City, Kelly Edmiston crashed that unwanted prediction at the Fed’s Money Smart program.
“I don’t expect the foreclosure problem to get much better in the next couple of years. In fact, it may well get worse,” Edmiston told.
Subprime mortgages stimulated their personal foreclosure catastrophe before because their expenses naturally rearrange after two years rather than five.
As said by Edmiston, such next mortgage rearranges will denote even bigger jumps in house costs than subprime mortgage retunes that compelled one in every five borrowers with changeable interest rates to foreclosure
http://www.foreclosurewarehouse.com/blog/fed-economist-claims-the-coming-of-second-wave-of-foreclosure/
————–
Mortgage Modifications Fail, Huge Foreclosure Wave Coming
http://www.businessinsider.com/mortgage-modifications-fail-huge-foreclosure-wave-coming-2009-4
——————The Next Wave Of Foreclosures
Maurna Desmond, 04.22.09, 12:01 AM EDT
Falling home prices and rising unemployment are set to spread the pain.Moody’s estimates that if the Obama administration’s two-pronged anti-foreclosure effort gets going, there will still be more than 5 million foreclosures over the next three years. “At the moment, that feels optimistic to me,” Zandi says.
—————Coming Wave of Resets – Is there a Simple Answer?
According to an article written last week by Eric Uhlfelder, Credit Suisse maintains that about $1 trillion in Alt-A and option payment mortgages are scheduled to have rate resets in the next 30 months. These resets, the bank says, could cause as much future damage as the subprime crisis has already inflicted.
—————–
4-10 Forward Look at Defaults, Foreclosures, Banks and Housing
Saturday, April 11th, 2009 | By Mr. MortgageBut coming down the pipe is a massive wave of mortgage Notice-of-Defaults (NOD) that dwarfs the highs we saw when things began to get really out of control in Q1 2008.
May 7, 2009 at 8:34 AM #394957Rt.66Participant[quote=temeculaguy]What happens after this wave? There’s no talk about another wave beyond this one. [/quote]
An economist in the Kansas City said this Thursday that a second grueling wave of the house foreclosure is perched to hit as the subprime mortgage chaos recedes.
Senior economist of the Federal Research Bank of Kansas City, Kelly Edmiston crashed that unwanted prediction at the Fed’s Money Smart program.
“I don’t expect the foreclosure problem to get much better in the next couple of years. In fact, it may well get worse,” Edmiston told.
Subprime mortgages stimulated their personal foreclosure catastrophe before because their expenses naturally rearrange after two years rather than five.
As said by Edmiston, such next mortgage rearranges will denote even bigger jumps in house costs than subprime mortgage retunes that compelled one in every five borrowers with changeable interest rates to foreclosure
http://www.foreclosurewarehouse.com/blog/fed-economist-claims-the-coming-of-second-wave-of-foreclosure/
————–
Mortgage Modifications Fail, Huge Foreclosure Wave Coming
http://www.businessinsider.com/mortgage-modifications-fail-huge-foreclosure-wave-coming-2009-4
——————The Next Wave Of Foreclosures
Maurna Desmond, 04.22.09, 12:01 AM EDT
Falling home prices and rising unemployment are set to spread the pain.Moody’s estimates that if the Obama administration’s two-pronged anti-foreclosure effort gets going, there will still be more than 5 million foreclosures over the next three years. “At the moment, that feels optimistic to me,” Zandi says.
—————Coming Wave of Resets – Is there a Simple Answer?
According to an article written last week by Eric Uhlfelder, Credit Suisse maintains that about $1 trillion in Alt-A and option payment mortgages are scheduled to have rate resets in the next 30 months. These resets, the bank says, could cause as much future damage as the subprime crisis has already inflicted.
—————–
4-10 Forward Look at Defaults, Foreclosures, Banks and Housing
Saturday, April 11th, 2009 | By Mr. MortgageBut coming down the pipe is a massive wave of mortgage Notice-of-Defaults (NOD) that dwarfs the highs we saw when things began to get really out of control in Q1 2008.
May 7, 2009 at 8:34 AM #394304ArrayaParticipantOver 20 million homeowners underwater. 67% of mortgage holders have less than 15% equity. We are going to lose about 6-10 million jobs this year. There are literally millions of foreclosures coming. Millions…. And credit is still contracting. Of course, we should expect a fierce overcorrection, yet we don’t even have a mean to revert to because of the deflation. That light at the end of the tunnel is a train.
May 7, 2009 at 8:34 AM #394561ArrayaParticipantOver 20 million homeowners underwater. 67% of mortgage holders have less than 15% equity. We are going to lose about 6-10 million jobs this year. There are literally millions of foreclosures coming. Millions…. And credit is still contracting. Of course, we should expect a fierce overcorrection, yet we don’t even have a mean to revert to because of the deflation. That light at the end of the tunnel is a train.
May 7, 2009 at 8:34 AM #394777ArrayaParticipantOver 20 million homeowners underwater. 67% of mortgage holders have less than 15% equity. We are going to lose about 6-10 million jobs this year. There are literally millions of foreclosures coming. Millions…. And credit is still contracting. Of course, we should expect a fierce overcorrection, yet we don’t even have a mean to revert to because of the deflation. That light at the end of the tunnel is a train.
May 7, 2009 at 8:34 AM #394831ArrayaParticipantOver 20 million homeowners underwater. 67% of mortgage holders have less than 15% equity. We are going to lose about 6-10 million jobs this year. There are literally millions of foreclosures coming. Millions…. And credit is still contracting. Of course, we should expect a fierce overcorrection, yet we don’t even have a mean to revert to because of the deflation. That light at the end of the tunnel is a train.
May 7, 2009 at 8:34 AM #394972ArrayaParticipantOver 20 million homeowners underwater. 67% of mortgage holders have less than 15% equity. We are going to lose about 6-10 million jobs this year. There are literally millions of foreclosures coming. Millions…. And credit is still contracting. Of course, we should expect a fierce overcorrection, yet we don’t even have a mean to revert to because of the deflation. That light at the end of the tunnel is a train.
May 7, 2009 at 8:49 AM #394309outtamojoParticipantHey, RT, what were those same economist folk saying back in 2005? They were for the most part as rosy as they are now bearish. Imo if you listen to the national pundits rather than focusing on what is right in front of you in the market you are interested in and you are somewhat picky about the features you want in the house you are looking for…
you end up missing the so called “bottom”. The real collapse, if it comes, will be in 2011 or 2012 when and if all the stimulus fails.May 7, 2009 at 8:49 AM #394566outtamojoParticipantHey, RT, what were those same economist folk saying back in 2005? They were for the most part as rosy as they are now bearish. Imo if you listen to the national pundits rather than focusing on what is right in front of you in the market you are interested in and you are somewhat picky about the features you want in the house you are looking for…
you end up missing the so called “bottom”. The real collapse, if it comes, will be in 2011 or 2012 when and if all the stimulus fails.May 7, 2009 at 8:49 AM #394782outtamojoParticipantHey, RT, what were those same economist folk saying back in 2005? They were for the most part as rosy as they are now bearish. Imo if you listen to the national pundits rather than focusing on what is right in front of you in the market you are interested in and you are somewhat picky about the features you want in the house you are looking for…
you end up missing the so called “bottom”. The real collapse, if it comes, will be in 2011 or 2012 when and if all the stimulus fails.May 7, 2009 at 8:49 AM #394836outtamojoParticipantHey, RT, what were those same economist folk saying back in 2005? They were for the most part as rosy as they are now bearish. Imo if you listen to the national pundits rather than focusing on what is right in front of you in the market you are interested in and you are somewhat picky about the features you want in the house you are looking for…
you end up missing the so called “bottom”. The real collapse, if it comes, will be in 2011 or 2012 when and if all the stimulus fails. -
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