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Zeitgeist.
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May 8, 2009 at 5:48 PM #396019May 8, 2009 at 8:15 PM #395431
golfproz
ParticipantBut what does an NOD have to do with “shadow inventory”? Shadow inventory is REO’s, properties that the banks have already foreclosed on and now own, yet have not placed on the market. NODs are not shadow inventory. That’s just a property that the owner is behind on the payments. That doesn’t mean they have to list it for sale. It might never be for sale. They could get a loan mod, hit the lotto and pay it off, whatever. NOD’s have nothing to do with the so called shadow inventory.
May 8, 2009 at 8:15 PM #395684golfproz
ParticipantBut what does an NOD have to do with “shadow inventory”? Shadow inventory is REO’s, properties that the banks have already foreclosed on and now own, yet have not placed on the market. NODs are not shadow inventory. That’s just a property that the owner is behind on the payments. That doesn’t mean they have to list it for sale. It might never be for sale. They could get a loan mod, hit the lotto and pay it off, whatever. NOD’s have nothing to do with the so called shadow inventory.
May 8, 2009 at 8:15 PM #395905golfproz
ParticipantBut what does an NOD have to do with “shadow inventory”? Shadow inventory is REO’s, properties that the banks have already foreclosed on and now own, yet have not placed on the market. NODs are not shadow inventory. That’s just a property that the owner is behind on the payments. That doesn’t mean they have to list it for sale. It might never be for sale. They could get a loan mod, hit the lotto and pay it off, whatever. NOD’s have nothing to do with the so called shadow inventory.
May 8, 2009 at 8:15 PM #395958golfproz
ParticipantBut what does an NOD have to do with “shadow inventory”? Shadow inventory is REO’s, properties that the banks have already foreclosed on and now own, yet have not placed on the market. NODs are not shadow inventory. That’s just a property that the owner is behind on the payments. That doesn’t mean they have to list it for sale. It might never be for sale. They could get a loan mod, hit the lotto and pay it off, whatever. NOD’s have nothing to do with the so called shadow inventory.
May 8, 2009 at 8:15 PM #396100golfproz
ParticipantBut what does an NOD have to do with “shadow inventory”? Shadow inventory is REO’s, properties that the banks have already foreclosed on and now own, yet have not placed on the market. NODs are not shadow inventory. That’s just a property that the owner is behind on the payments. That doesn’t mean they have to list it for sale. It might never be for sale. They could get a loan mod, hit the lotto and pay it off, whatever. NOD’s have nothing to do with the so called shadow inventory.
May 8, 2009 at 9:45 PM #395488jimg111
ParticipantSince I’ve posted in the past about the shadow inventory I’ll give the latest. Contacts at our banks are indicating a significant release starting June 1, whether this will actually happen or not we will have to wait and see. Since late last year the assignments have trickled in at about 5-8 a month(last summer was 25-30 a month), in the last 3 days we have received 5 new properties. I don’t know if this is the beginning or not but I sure hope so. Of course Obama could wave his hand and make the right to foreclosure and evict illegal tomorrow.
May 8, 2009 at 9:45 PM #395740jimg111
ParticipantSince I’ve posted in the past about the shadow inventory I’ll give the latest. Contacts at our banks are indicating a significant release starting June 1, whether this will actually happen or not we will have to wait and see. Since late last year the assignments have trickled in at about 5-8 a month(last summer was 25-30 a month), in the last 3 days we have received 5 new properties. I don’t know if this is the beginning or not but I sure hope so. Of course Obama could wave his hand and make the right to foreclosure and evict illegal tomorrow.
May 8, 2009 at 9:45 PM #395961jimg111
ParticipantSince I’ve posted in the past about the shadow inventory I’ll give the latest. Contacts at our banks are indicating a significant release starting June 1, whether this will actually happen or not we will have to wait and see. Since late last year the assignments have trickled in at about 5-8 a month(last summer was 25-30 a month), in the last 3 days we have received 5 new properties. I don’t know if this is the beginning or not but I sure hope so. Of course Obama could wave his hand and make the right to foreclosure and evict illegal tomorrow.
May 8, 2009 at 9:45 PM #396013jimg111
ParticipantSince I’ve posted in the past about the shadow inventory I’ll give the latest. Contacts at our banks are indicating a significant release starting June 1, whether this will actually happen or not we will have to wait and see. Since late last year the assignments have trickled in at about 5-8 a month(last summer was 25-30 a month), in the last 3 days we have received 5 new properties. I don’t know if this is the beginning or not but I sure hope so. Of course Obama could wave his hand and make the right to foreclosure and evict illegal tomorrow.
May 8, 2009 at 9:45 PM #396157jimg111
ParticipantSince I’ve posted in the past about the shadow inventory I’ll give the latest. Contacts at our banks are indicating a significant release starting June 1, whether this will actually happen or not we will have to wait and see. Since late last year the assignments have trickled in at about 5-8 a month(last summer was 25-30 a month), in the last 3 days we have received 5 new properties. I don’t know if this is the beginning or not but I sure hope so. Of course Obama could wave his hand and make the right to foreclosure and evict illegal tomorrow.
May 8, 2009 at 10:09 PM #395499peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
May 8, 2009 at 10:09 PM #395750peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
May 8, 2009 at 10:09 PM #395971peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
May 8, 2009 at 10:09 PM #396023peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
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