Menu

Home › Forums › Housing › Low inventory on MLS , how about auction ?

Viewing 15 posts - 16 through 30 (of 66 total)
1 2 3 4 5
  • Author
    Posts
  • August 20, 2009 at 2:56 PM #447148
    UCGal
    Participant

    [quote=PadreBrian]That’s not quite true either. True that banks don’t have the houses, but it’s not true that they aren’t in the foreclosure process. There’s no moratorium, so banks are processing and foreclosing. The pre-foreclosures we see are just dumb dumb bank robbing interest only loan bandits milking the banks for a new 30 year fixed 4% interest loan. Most are getting them.[/quote]

    I wouldn’t say “most are getting them”. From what I’ve been reading, only about 9% of delinquent homeowners are getting them. That leaves 91% who are not – or are in limbo for other reasons.

    http://www.mcclatchydc.com/homepage/story/73768.html

    The administration thinks that about 2.7 million U.S. homeowners are at least two months behind on their mortgage payments, roughly equal to the population of Kansas. Yet only 9 percent of eligible borrowers had been offered trial loan modifications through June.

    snip

    Wells Fargo had modified just 6 percent of its eligible loans through June.

    http://www.forbes.com/2009/08/04/mortgage-loan-obama-business-wall-street-modifications.html

    Banks have made underwhelming progress on helping struggling mortgage borrowers, extending trial loan modifications to just 9% of those eligible under a $75 billion Obama administration program–and even that number may be inflated. Some of the homeowners in the trial program may not be allowed into the program due to weak initial controls.

    According to a report released Tuesday by the U.S. Treasury, mortgage servicers signed up 230,000 struggling borrowers for trial modifications under the president’s plan in the six months since it was launched. That represents 9% of the 2.7 million mortgages that are at least 60 days past due and considered eligible.

    August 20, 2009 at 4:52 PM #447804
    SD Realtor
    Participant

    Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.

    August 20, 2009 at 4:52 PM #447986
    SD Realtor
    Participant

    Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.

    August 20, 2009 at 4:52 PM #447733
    SD Realtor
    Participant

    Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.

    August 20, 2009 at 4:52 PM #447395
    SD Realtor
    Participant

    Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.

    August 20, 2009 at 4:52 PM #447203
    SD Realtor
    Participant

    Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.

    August 20, 2009 at 5:33 PM #447208
    Nor-LA-SD-guy
    Participant

    [quote=SD Realtor]Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.[/quote]

    My Guess is with the builders not building, and inflation just starting, they are trying to wait until Demand meets inflated house price meets enough Loan Mod’s that actually work.

    Can they do it, my guess is they can, it may take a few more years but they will do it IMO .

    If the economy does manage to stage a comeback without the builders building much new housing stock, it will take less time as well.

    August 20, 2009 at 5:33 PM #447808
    Nor-LA-SD-guy
    Participant

    [quote=SD Realtor]Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.[/quote]

    My Guess is with the builders not building, and inflation just starting, they are trying to wait until Demand meets inflated house price meets enough Loan Mod’s that actually work.

    Can they do it, my guess is they can, it may take a few more years but they will do it IMO .

    If the economy does manage to stage a comeback without the builders building much new housing stock, it will take less time as well.

    August 20, 2009 at 5:33 PM #447738
    Nor-LA-SD-guy
    Participant

    [quote=SD Realtor]Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.[/quote]

    My Guess is with the builders not building, and inflation just starting, they are trying to wait until Demand meets inflated house price meets enough Loan Mod’s that actually work.

    Can they do it, my guess is they can, it may take a few more years but they will do it IMO .

    If the economy does manage to stage a comeback without the builders building much new housing stock, it will take less time as well.

    August 20, 2009 at 5:33 PM #447991
    Nor-LA-SD-guy
    Participant

    [quote=SD Realtor]Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.[/quote]

    My Guess is with the builders not building, and inflation just starting, they are trying to wait until Demand meets inflated house price meets enough Loan Mod’s that actually work.

    Can they do it, my guess is they can, it may take a few more years but they will do it IMO .

    If the economy does manage to stage a comeback without the builders building much new housing stock, it will take less time as well.

    August 20, 2009 at 5:33 PM #447400
    Nor-LA-SD-guy
    Participant

    [quote=SD Realtor]Cannot argue with you UCGAL. The amount of postponements and delays at trustee sales is staggering these days. Certainly the banks are in noooooo rush at all.[/quote]

    My Guess is with the builders not building, and inflation just starting, they are trying to wait until Demand meets inflated house price meets enough Loan Mod’s that actually work.

    Can they do it, my guess is they can, it may take a few more years but they will do it IMO .

    If the economy does manage to stage a comeback without the builders building much new housing stock, it will take less time as well.

    August 20, 2009 at 6:53 PM #448021
    Nor-LA-SD-guy
    Participant

    I will add that while in a lot of states Nevada, Florida etc..(Maybe Northern Cal even), there may just be this huge oversupply of homes I keep hearing about, but I don’t think that is the case for SoCal in general (or at least it won’t be for too much longer).

    August 20, 2009 at 6:53 PM #447837
    Nor-LA-SD-guy
    Participant

    I will add that while in a lot of states Nevada, Florida etc..(Maybe Northern Cal even), there may just be this huge oversupply of homes I keep hearing about, but I don’t think that is the case for SoCal in general (or at least it won’t be for too much longer).

    August 20, 2009 at 6:53 PM #447238
    Nor-LA-SD-guy
    Participant

    I will add that while in a lot of states Nevada, Florida etc..(Maybe Northern Cal even), there may just be this huge oversupply of homes I keep hearing about, but I don’t think that is the case for SoCal in general (or at least it won’t be for too much longer).

    August 20, 2009 at 6:53 PM #447768
    Nor-LA-SD-guy
    Participant

    I will add that while in a lot of states Nevada, Florida etc..(Maybe Northern Cal even), there may just be this huge oversupply of homes I keep hearing about, but I don’t think that is the case for SoCal in general (or at least it won’t be for too much longer).

  • Author
    Posts
Viewing 15 posts - 16 through 30 (of 66 total)
1 2 3 4 5
  • You must be logged in to reply to this topic.