More Federal Intervention to Prevent Foreclosures

[djc]

So, what should we do? Go buy something in La Costa and wait for our letter from Santa? I’d really prefer to get into something on the coast, HELOC, buy a BMW and Porsche, then need to be bailed out.

What’s the best way to position for this?

[cr]

It’s such a patehetic and shortsighted attempt and nothing short of socialism.

The message is go buy your dream house, default and, yes, wait for that letter to reduce your payments to 38% of your income. Apparently you can buy any value house you want, and even your income really doesn’t matter.

Look for fraud to run rampant.

[cr]

It’s such a patehetic and shortsighted attempt and nothing short of socialism.

The message is go buy your dream house, default and, yes, wait for that letter to reduce your payments to 38% of your income. Apparently you can buy any value house you want, and even your income really doesn’t matter.

Look for fraud to run rampant.

[cr]

It’s such a patehetic and shortsighted attempt and nothing short of socialism.

The message is go buy your dream house, default and, yes, wait for that letter to reduce your payments to 38% of your income. Apparently you can buy any value house you want, and even your income really doesn’t matter.

Look for fraud to run rampant.

[cr]

It’s such a patehetic and shortsighted attempt and nothing short of socialism.

The message is go buy your dream house, default and, yes, wait for that letter to reduce your payments to 38% of your income. Apparently you can buy any value house you want, and even your income really doesn’t matter.

Look for fraud to run rampant.

[cr]

It’s such a patehetic and shortsighted attempt and nothing short of socialism.

The message is go buy your dream house, default and, yes, wait for that letter to reduce your payments to 38% of your income. Apparently you can buy any value house you want, and even your income really doesn’t matter.

Look for fraud to run rampant.

[SD Realtor]

DJC there is not anything we can do. The post was simply meant to be informative. At the beginning of this thing I was trying to project market bottom based on a unregulated or lightly regulated fall. As federal efforts began to grow it became clear long ago that this cycle would be challenging to predict.

If there is anyone here (Rich included) who foresaw the sheer size of the intervention we are seeing and will continue to see then good for them. While a few like myself starting posting these sorts of warnings, I doubt any of us, me for sure could envision something of this magnitude.

To turn a blind eye to it and say it will not affect the cycle is naive at best. To me this is simply going to help nudge us towards a Japan style real estate market that will be quite drawn out and long.

[SD Realtor]

DJC there is not anything we can do. The post was simply meant to be informative. At the beginning of this thing I was trying to project market bottom based on a unregulated or lightly regulated fall. As federal efforts began to grow it became clear long ago that this cycle would be challenging to predict.

If there is anyone here (Rich included) who foresaw the sheer size of the intervention we are seeing and will continue to see then good for them. While a few like myself starting posting these sorts of warnings, I doubt any of us, me for sure could envision something of this magnitude.

To turn a blind eye to it and say it will not affect the cycle is naive at best. To me this is simply going to help nudge us towards a Japan style real estate market that will be quite drawn out and long.

[SD Realtor]

DJC there is not anything we can do. The post was simply meant to be informative. At the beginning of this thing I was trying to project market bottom based on a unregulated or lightly regulated fall. As federal efforts began to grow it became clear long ago that this cycle would be challenging to predict.

If there is anyone here (Rich included) who foresaw the sheer size of the intervention we are seeing and will continue to see then good for them. While a few like myself starting posting these sorts of warnings, I doubt any of us, me for sure could envision something of this magnitude.

To turn a blind eye to it and say it will not affect the cycle is naive at best. To me this is simply going to help nudge us towards a Japan style real estate market that will be quite drawn out and long.

[SD Realtor]

DJC there is not anything we can do. The post was simply meant to be informative. At the beginning of this thing I was trying to project market bottom based on a unregulated or lightly regulated fall. As federal efforts began to grow it became clear long ago that this cycle would be challenging to predict.

If there is anyone here (Rich included) who foresaw the sheer size of the intervention we are seeing and will continue to see then good for them. While a few like myself starting posting these sorts of warnings, I doubt any of us, me for sure could envision something of this magnitude.

To turn a blind eye to it and say it will not affect the cycle is naive at best. To me this is simply going to help nudge us towards a Japan style real estate market that will be quite drawn out and long.

[SD Realtor]

DJC there is not anything we can do. The post was simply meant to be informative. At the beginning of this thing I was trying to project market bottom based on a unregulated or lightly regulated fall. As federal efforts began to grow it became clear long ago that this cycle would be challenging to predict.

If there is anyone here (Rich included) who foresaw the sheer size of the intervention we are seeing and will continue to see then good for them. While a few like myself starting posting these sorts of warnings, I doubt any of us, me for sure could envision something of this magnitude.

To turn a blind eye to it and say it will not affect the cycle is naive at best. To me this is simply going to help nudge us towards a Japan style real estate market that will be quite drawn out and long.

[Huckleberry]

I’m not buying it…

Let’s not forget, unemployment is on the rise. Even Greenspan noted this morning in congressional hearings that it will rise substantially no matter what intervention the govt tries.

This single variable alone is going to torpedo the foreclosure “relief” activities. I may save some percent of “troubled” borrowers, but a whole new group of troubled borrowers are going to emerge. Is the govt going to save them too?

I also don’t see govt wiping the slate clean on principal owed by just writing down the loan amount and giving the mortgagee a “freebee”.

Lastly, on CNBC this morning it was noted that there was similar foreclosure law passed (I beleive in Oregon?) where all foreclosures have a 90 day moratorium, so during the summer months NOD’s decreased substantially, but this month they spiked 460%.

I’m not convinced the new CA law is going to stem any foreclosures in the long run…

[Huckleberry]

I’m not buying it…

Let’s not forget, unemployment is on the rise. Even Greenspan noted this morning in congressional hearings that it will rise substantially no matter what intervention the govt tries.

This single variable alone is going to torpedo the foreclosure “relief” activities. I may save some percent of “troubled” borrowers, but a whole new group of troubled borrowers are going to emerge. Is the govt going to save them too?

I also don’t see govt wiping the slate clean on principal owed by just writing down the loan amount and giving the mortgagee a “freebee”.

Lastly, on CNBC this morning it was noted that there was similar foreclosure law passed (I beleive in Oregon?) where all foreclosures have a 90 day moratorium, so during the summer months NOD’s decreased substantially, but this month they spiked 460%.

I’m not convinced the new CA law is going to stem any foreclosures in the long run…

[Huckleberry]

I’m not buying it…

Let’s not forget, unemployment is on the rise. Even Greenspan noted this morning in congressional hearings that it will rise substantially no matter what intervention the govt tries.

This single variable alone is going to torpedo the foreclosure “relief” activities. I may save some percent of “troubled” borrowers, but a whole new group of troubled borrowers are going to emerge. Is the govt going to save them too?

I also don’t see govt wiping the slate clean on principal owed by just writing down the loan amount and giving the mortgagee a “freebee”.

Lastly, on CNBC this morning it was noted that there was similar foreclosure law passed (I beleive in Oregon?) where all foreclosures have a 90 day moratorium, so during the summer months NOD’s decreased substantially, but this month they spiked 460%.

I’m not convinced the new CA law is going to stem any foreclosures in the long run…

[Huckleberry]

I’m not buying it…

Let’s not forget, unemployment is on the rise. Even Greenspan noted this morning in congressional hearings that it will rise substantially no matter what intervention the govt tries.

This single variable alone is going to torpedo the foreclosure “relief” activities. I may save some percent of “troubled” borrowers, but a whole new group of troubled borrowers are going to emerge. Is the govt going to save them too?

I also don’t see govt wiping the slate clean on principal owed by just writing down the loan amount and giving the mortgagee a “freebee”.

Lastly, on CNBC this morning it was noted that there was similar foreclosure law passed (I beleive in Oregon?) where all foreclosures have a 90 day moratorium, so during the summer months NOD’s decreased substantially, but this month they spiked 460%.

I’m not convinced the new CA law is going to stem any foreclosures in the long run…

[Author]

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