Question for the bulls

[sdrealtor]

Hey dumbass. I found one to shut you up once and for all. Send me your email via private messages and I will send you a copy of letter from a lender where the seller negotiated a short payoff of a refinanced recourse $90,000 2nd for about $7400 cash in March. I will also include the tax records showing the amount of the loans. We had to get that settled before selling the house. Once we got that settled we closed the short sale the next month with the 1st lender which was non-recourse. They could have stayed if they wanted with only a 1st mortgage and gotten it modified but were getting divorced so neither wanted to stay.

[waiting for bottom]

I bought a short sale and saw the approval letter from the 2nd. They took $5k for $75k.

[waiting for bottom]

I bought a short sale and saw the approval letter from the 2nd. They took $5k for $75k.

[waiting for bottom]

I bought a short sale and saw the approval letter from the 2nd. They took $5k for $75k.

[waiting for bottom]

I bought a short sale and saw the approval letter from the 2nd. They took $5k for $75k.

[waiting for bottom]

I bought a short sale and saw the approval letter from the 2nd. They took $5k for $75k.

[sdrealtor]

This is a little different as we settled with the 2nd separately outside of the short sale. With the 2nd settled they could have stayed if they wanted with about $100K less owed on the property. They could have gotten the PITI on the 1st modified down to 31% of gross income under the HAMP program as both had good solid employment (teachers) and a legitimate hardship (divorce). Neither wanted the property and we sold it a couple weeks later.

Interesting side note is the buyers had lost their house to foreclosure in Riverside County and their mother bought the house for all of them to live in She got an FHA loan that got done in about 2 weeks. The kids are going to pay the mortgage but didnt have the credit to buy it so they used MOm’s credit to get the loan.

Suddenly got quiet around here….are those birds I hear chirping out back????

[sdrealtor]

This is a little different as we settled with the 2nd separately outside of the short sale. With the 2nd settled they could have stayed if they wanted with about $100K less owed on the property. They could have gotten the PITI on the 1st modified down to 31% of gross income under the HAMP program as both had good solid employment (teachers) and a legitimate hardship (divorce). Neither wanted the property and we sold it a couple weeks later.

Interesting side note is the buyers had lost their house to foreclosure in Riverside County and their mother bought the house for all of them to live in She got an FHA loan that got done in about 2 weeks. The kids are going to pay the mortgage but didnt have the credit to buy it so they used MOm’s credit to get the loan.

Suddenly got quiet around here….are those birds I hear chirping out back????

[sdrealtor]

This is a little different as we settled with the 2nd separately outside of the short sale. With the 2nd settled they could have stayed if they wanted with about $100K less owed on the property. They could have gotten the PITI on the 1st modified down to 31% of gross income under the HAMP program as both had good solid employment (teachers) and a legitimate hardship (divorce). Neither wanted the property and we sold it a couple weeks later.

Interesting side note is the buyers had lost their house to foreclosure in Riverside County and their mother bought the house for all of them to live in She got an FHA loan that got done in about 2 weeks. The kids are going to pay the mortgage but didnt have the credit to buy it so they used MOm’s credit to get the loan.

Suddenly got quiet around here….are those birds I hear chirping out back????

[sdrealtor]

This is a little different as we settled with the 2nd separately outside of the short sale. With the 2nd settled they could have stayed if they wanted with about $100K less owed on the property. They could have gotten the PITI on the 1st modified down to 31% of gross income under the HAMP program as both had good solid employment (teachers) and a legitimate hardship (divorce). Neither wanted the property and we sold it a couple weeks later.

Interesting side note is the buyers had lost their house to foreclosure in Riverside County and their mother bought the house for all of them to live in She got an FHA loan that got done in about 2 weeks. The kids are going to pay the mortgage but didnt have the credit to buy it so they used MOm’s credit to get the loan.

Suddenly got quiet around here….are those birds I hear chirping out back????

[sdrealtor]

This is a little different as we settled with the 2nd separately outside of the short sale. With the 2nd settled they could have stayed if they wanted with about $100K less owed on the property. They could have gotten the PITI on the 1st modified down to 31% of gross income under the HAMP program as both had good solid employment (teachers) and a legitimate hardship (divorce). Neither wanted the property and we sold it a couple weeks later.

Interesting side note is the buyers had lost their house to foreclosure in Riverside County and their mother bought the house for all of them to live in She got an FHA loan that got done in about 2 weeks. The kids are going to pay the mortgage but didnt have the credit to buy it so they used MOm’s credit to get the loan.

Suddenly got quiet around here….are those birds I hear chirping out back????

[gn]

[quote=jpinpb]I think there may be more unemployment on the horizon. But what’s troubling is there isn’t a sign of employment for the carnage that has occurred, i.e. job creation, in the future.
[/quote]

I agree with JP, even in a situation where the unemployment rate stays the same, there are layoffs & there are hiring. In this situation, the layoffs & the hiring balance each other out.

In the aftermath of a recession, many companies are reluctant to hire, hence the unemployment rate keeps climbing.

[gn]

[quote=jpinpb]I think there may be more unemployment on the horizon. But what’s troubling is there isn’t a sign of employment for the carnage that has occurred, i.e. job creation, in the future.
[/quote]

I agree with JP, even in a situation where the unemployment rate stays the same, there are layoffs & there are hiring. In this situation, the layoffs & the hiring balance each other out.

In the aftermath of a recession, many companies are reluctant to hire, hence the unemployment rate keeps climbing.

[gn]

[quote=jpinpb]I think there may be more unemployment on the horizon. But what’s troubling is there isn’t a sign of employment for the carnage that has occurred, i.e. job creation, in the future.
[/quote]

I agree with JP, even in a situation where the unemployment rate stays the same, there are layoffs & there are hiring. In this situation, the layoffs & the hiring balance each other out.

In the aftermath of a recession, many companies are reluctant to hire, hence the unemployment rate keeps climbing.

[gn]

[quote=jpinpb]I think there may be more unemployment on the horizon. But what’s troubling is there isn’t a sign of employment for the carnage that has occurred, i.e. job creation, in the future.
[/quote]

I agree with JP, even in a situation where the unemployment rate stays the same, there are layoffs & there are hiring. In this situation, the layoffs & the hiring balance each other out.

In the aftermath of a recession, many companies are reluctant to hire, hence the unemployment rate keeps climbing.

[Author]

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