Question for the bulls

[Rt.66]

I’m also debating these statements:

“a significant percentage of the properties that are in default will not end up as REOs”

Because of this small occurrence or rather would merely delay those foreclosures.

And

“knowing that the junior lien holders don’t have the legal right to kick them out.”

Just incorrect.

And while I’m at it I’ll add this:

“That’s because this data includes defaults on second mortgages”

I’d bet a vast majority of NODs are not from seconds at all but mostly from first mortgage holders.

[sdrealtor]

Dude, so you skimmed and said it doesnt exist. Here’s the bottomline, it does exist! I never said this was the end all, be all. Its one thing going on out there that i have personally seen happen several times in my small corner of the world. I’m one guy in a corner of a mid size metro area of the US. If I’ve seen a bunch there have got to be a lot more. There are also other things going on out there I havent seen. Things you or I cant imagine.

The point is you can look at all the stats out therE and say “SEE CALAMITY IS COMING!!! EVERYONE ONE OF THESE IS GOING TO BE A FORECLOSURE!!! THE END IS COMING!!!” The reality is not so simple. There are many things going on there to mitigate the distress out there. They wont solve it all nor did I say they ever will. However they will solve alot of it as they have already. There is no reason to beleive they will stop or be any less successful at doing so in the future. You can pull all the stats and graphs out that you want. Mr Mortgage who was far more educated and adept at it made a national name for himself doing it. He too underestimated the power of those in power to manipulate things. He’s just a footnote in history now something you wont even be.

[sdrealtor]

Dude, so you skimmed and said it doesnt exist. Here’s the bottomline, it does exist! I never said this was the end all, be all. Its one thing going on out there that i have personally seen happen several times in my small corner of the world. I’m one guy in a corner of a mid size metro area of the US. If I’ve seen a bunch there have got to be a lot more. There are also other things going on out there I havent seen. Things you or I cant imagine.

The point is you can look at all the stats out therE and say “SEE CALAMITY IS COMING!!! EVERYONE ONE OF THESE IS GOING TO BE A FORECLOSURE!!! THE END IS COMING!!!” The reality is not so simple. There are many things going on there to mitigate the distress out there. They wont solve it all nor did I say they ever will. However they will solve alot of it as they have already. There is no reason to beleive they will stop or be any less successful at doing so in the future. You can pull all the stats and graphs out that you want. Mr Mortgage who was far more educated and adept at it made a national name for himself doing it. He too underestimated the power of those in power to manipulate things. He’s just a footnote in history now something you wont even be.

[sdrealtor]

Dude, so you skimmed and said it doesnt exist. Here’s the bottomline, it does exist! I never said this was the end all, be all. Its one thing going on out there that i have personally seen happen several times in my small corner of the world. I’m one guy in a corner of a mid size metro area of the US. If I’ve seen a bunch there have got to be a lot more. There are also other things going on out there I havent seen. Things you or I cant imagine.

The point is you can look at all the stats out therE and say “SEE CALAMITY IS COMING!!! EVERYONE ONE OF THESE IS GOING TO BE A FORECLOSURE!!! THE END IS COMING!!!” The reality is not so simple. There are many things going on there to mitigate the distress out there. They wont solve it all nor did I say they ever will. However they will solve alot of it as they have already. There is no reason to beleive they will stop or be any less successful at doing so in the future. You can pull all the stats and graphs out that you want. Mr Mortgage who was far more educated and adept at it made a national name for himself doing it. He too underestimated the power of those in power to manipulate things. He’s just a footnote in history now something you wont even be.

[sdrealtor]

Dude, so you skimmed and said it doesnt exist. Here’s the bottomline, it does exist! I never said this was the end all, be all. Its one thing going on out there that i have personally seen happen several times in my small corner of the world. I’m one guy in a corner of a mid size metro area of the US. If I’ve seen a bunch there have got to be a lot more. There are also other things going on out there I havent seen. Things you or I cant imagine.

The point is you can look at all the stats out therE and say “SEE CALAMITY IS COMING!!! EVERYONE ONE OF THESE IS GOING TO BE A FORECLOSURE!!! THE END IS COMING!!!” The reality is not so simple. There are many things going on there to mitigate the distress out there. They wont solve it all nor did I say they ever will. However they will solve alot of it as they have already. There is no reason to beleive they will stop or be any less successful at doing so in the future. You can pull all the stats and graphs out that you want. Mr Mortgage who was far more educated and adept at it made a national name for himself doing it. He too underestimated the power of those in power to manipulate things. He’s just a footnote in history now something you wont even be.

[sdrealtor]

Dude, so you skimmed and said it doesnt exist. Here’s the bottomline, it does exist! I never said this was the end all, be all. Its one thing going on out there that i have personally seen happen several times in my small corner of the world. I’m one guy in a corner of a mid size metro area of the US. If I’ve seen a bunch there have got to be a lot more. There are also other things going on out there I havent seen. Things you or I cant imagine.

The point is you can look at all the stats out therE and say “SEE CALAMITY IS COMING!!! EVERYONE ONE OF THESE IS GOING TO BE A FORECLOSURE!!! THE END IS COMING!!!” The reality is not so simple. There are many things going on there to mitigate the distress out there. They wont solve it all nor did I say they ever will. However they will solve alot of it as they have already. There is no reason to beleive they will stop or be any less successful at doing so in the future. You can pull all the stats and graphs out that you want. Mr Mortgage who was far more educated and adept at it made a national name for himself doing it. He too underestimated the power of those in power to manipulate things. He’s just a footnote in history now something you wont even be.

[sdcellar]

Yo, “quoter”, bolder, CAPPER, er, I mean, Rt.66…

[quote=Rt.66]Not only is this not happening like you say, it’s a stupid premise all together.[/quote]

When you’re not backpeddling and regurging, you’re actually something of an absolutist.

Frankly, and I’m a bear, I’m sick of hearing about shadow inventory, but even worse is people who discount that there are other possible alternatives to foreclosure and they might just add up to something. Today, this inventory isn’t here (or maybe it is…) and if it is looming, it’s been so long, that it’s not worth speculating about much more. If something should change, then let us know.

There’s a lot of stuff that doesn’t make sense right now. You should embrace the fact and use it to your advantage.

[sdcellar]

Yo, “quoter”, bolder, CAPPER, er, I mean, Rt.66…

[quote=Rt.66]Not only is this not happening like you say, it’s a stupid premise all together.[/quote]

When you’re not backpeddling and regurging, you’re actually something of an absolutist.

Frankly, and I’m a bear, I’m sick of hearing about shadow inventory, but even worse is people who discount that there are other possible alternatives to foreclosure and they might just add up to something. Today, this inventory isn’t here (or maybe it is…) and if it is looming, it’s been so long, that it’s not worth speculating about much more. If something should change, then let us know.

There’s a lot of stuff that doesn’t make sense right now. You should embrace the fact and use it to your advantage.

[sdcellar]

Yo, “quoter”, bolder, CAPPER, er, I mean, Rt.66…

[quote=Rt.66]Not only is this not happening like you say, it’s a stupid premise all together.[/quote]

When you’re not backpeddling and regurging, you’re actually something of an absolutist.

Frankly, and I’m a bear, I’m sick of hearing about shadow inventory, but even worse is people who discount that there are other possible alternatives to foreclosure and they might just add up to something. Today, this inventory isn’t here (or maybe it is…) and if it is looming, it’s been so long, that it’s not worth speculating about much more. If something should change, then let us know.

There’s a lot of stuff that doesn’t make sense right now. You should embrace the fact and use it to your advantage.

[sdcellar]

Yo, “quoter”, bolder, CAPPER, er, I mean, Rt.66…

[quote=Rt.66]Not only is this not happening like you say, it’s a stupid premise all together.[/quote]

When you’re not backpeddling and regurging, you’re actually something of an absolutist.

Frankly, and I’m a bear, I’m sick of hearing about shadow inventory, but even worse is people who discount that there are other possible alternatives to foreclosure and they might just add up to something. Today, this inventory isn’t here (or maybe it is…) and if it is looming, it’s been so long, that it’s not worth speculating about much more. If something should change, then let us know.

There’s a lot of stuff that doesn’t make sense right now. You should embrace the fact and use it to your advantage.

[sdcellar]

Yo, “quoter”, bolder, CAPPER, er, I mean, Rt.66…

[quote=Rt.66]Not only is this not happening like you say, it’s a stupid premise all together.[/quote]

When you’re not backpeddling and regurging, you’re actually something of an absolutist.

Frankly, and I’m a bear, I’m sick of hearing about shadow inventory, but even worse is people who discount that there are other possible alternatives to foreclosure and they might just add up to something. Today, this inventory isn’t here (or maybe it is…) and if it is looming, it’s been so long, that it’s not worth speculating about much more. If something should change, then let us know.

There’s a lot of stuff that doesn’t make sense right now. You should embrace the fact and use it to your advantage.

[CA renter]

Are the bulls asserting that there is no “shadow inventory” at all, or are they saying that it just isn’t on the market right now, and may take a long time to get there. Two very different things, no?

BTW, as far as I know, seconds can indeed foreclose on a borrower, but most of them would be wiped out at this point (most of these homes are down 20% or more on the 80/20 loans, so their position is wiped out), so they are not going through with it. That does not mean that they won’t go through with it if the PTB manages to inflate housing prices again.

That, right there, could put downward pressure on prices if all the seconds tried to collect by foreclosing as prices neared levels that would clear their loans.

[CA renter]

Are the bulls asserting that there is no “shadow inventory” at all, or are they saying that it just isn’t on the market right now, and may take a long time to get there. Two very different things, no?

BTW, as far as I know, seconds can indeed foreclose on a borrower, but most of them would be wiped out at this point (most of these homes are down 20% or more on the 80/20 loans, so their position is wiped out), so they are not going through with it. That does not mean that they won’t go through with it if the PTB manages to inflate housing prices again.

That, right there, could put downward pressure on prices if all the seconds tried to collect by foreclosing as prices neared levels that would clear their loans.

[CA renter]

Are the bulls asserting that there is no “shadow inventory” at all, or are they saying that it just isn’t on the market right now, and may take a long time to get there. Two very different things, no?

BTW, as far as I know, seconds can indeed foreclose on a borrower, but most of them would be wiped out at this point (most of these homes are down 20% or more on the 80/20 loans, so their position is wiped out), so they are not going through with it. That does not mean that they won’t go through with it if the PTB manages to inflate housing prices again.

That, right there, could put downward pressure on prices if all the seconds tried to collect by foreclosing as prices neared levels that would clear their loans.

[CA renter]

Are the bulls asserting that there is no “shadow inventory” at all, or are they saying that it just isn’t on the market right now, and may take a long time to get there. Two very different things, no?

BTW, as far as I know, seconds can indeed foreclose on a borrower, but most of them would be wiped out at this point (most of these homes are down 20% or more on the 80/20 loans, so their position is wiped out), so they are not going through with it. That does not mean that they won’t go through with it if the PTB manages to inflate housing prices again.

That, right there, could put downward pressure on prices if all the seconds tried to collect by foreclosing as prices neared levels that would clear their loans.

[Author]

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