So, where are all the foreclosures?

[SD Realtor]

JP I hear what you are saying. I think there is another immense number of non performing homeowners who are not even in default yet. JP I know of some people who have not paid a cent since last April. The home is not NOD yet! I had a short sale awhile back that was in default for about 9 months. I know of a few other homes that are for sale and have been in default for close to a year as well. Repeatedly there have been delays in the trustee sales. Repeatedly failed attempts at loan workouts.

I guess I have seen it so much that I am kind of immune to it.

[jpinpb]

SDR – Thanks. That’s what I’m saying. The original owners of Chambord squatted for quite a while before they got the NOD in April. Then milked it some more. I’m glad the short sale didn’t go through and the bank just finally said enough.

You and I are seeing it happen. I’m not immune to it, though. It still frustrates me to no end. But if someone comes here and says it isn’t so and banks act quickly, they are just not seeing what’s really happening.

The thing is that the government is giving banks money. Now WTH. Get on w/it. Yet, still, inventory being depleted and foreclosures getting postponed. It’s almost laughable.

[jpinpb]

SDR – Thanks. That’s what I’m saying. The original owners of Chambord squatted for quite a while before they got the NOD in April. Then milked it some more. I’m glad the short sale didn’t go through and the bank just finally said enough.

You and I are seeing it happen. I’m not immune to it, though. It still frustrates me to no end. But if someone comes here and says it isn’t so and banks act quickly, they are just not seeing what’s really happening.

The thing is that the government is giving banks money. Now WTH. Get on w/it. Yet, still, inventory being depleted and foreclosures getting postponed. It’s almost laughable.

[jpinpb]

SDR – Thanks. That’s what I’m saying. The original owners of Chambord squatted for quite a while before they got the NOD in April. Then milked it some more. I’m glad the short sale didn’t go through and the bank just finally said enough.

You and I are seeing it happen. I’m not immune to it, though. It still frustrates me to no end. But if someone comes here and says it isn’t so and banks act quickly, they are just not seeing what’s really happening.

The thing is that the government is giving banks money. Now WTH. Get on w/it. Yet, still, inventory being depleted and foreclosures getting postponed. It’s almost laughable.

[jpinpb]

SDR – Thanks. That’s what I’m saying. The original owners of Chambord squatted for quite a while before they got the NOD in April. Then milked it some more. I’m glad the short sale didn’t go through and the bank just finally said enough.

You and I are seeing it happen. I’m not immune to it, though. It still frustrates me to no end. But if someone comes here and says it isn’t so and banks act quickly, they are just not seeing what’s really happening.

The thing is that the government is giving banks money. Now WTH. Get on w/it. Yet, still, inventory being depleted and foreclosures getting postponed. It’s almost laughable.

[jpinpb]

SDR – Thanks. That’s what I’m saying. The original owners of Chambord squatted for quite a while before they got the NOD in April. Then milked it some more. I’m glad the short sale didn’t go through and the bank just finally said enough.

You and I are seeing it happen. I’m not immune to it, though. It still frustrates me to no end. But if someone comes here and says it isn’t so and banks act quickly, they are just not seeing what’s really happening.

The thing is that the government is giving banks money. Now WTH. Get on w/it. Yet, still, inventory being depleted and foreclosures getting postponed. It’s almost laughable.

[poorsaver]

Where are all the foreclosures? Simple answer. The banks are holding on to them and letting the previous owners live in them rent free. In fact often they won’t even foreclose at all. I know of several people that have been living for well over a year after making their last payment, and still haven’t gotten any notices from the bank. Amazing. Sad and unfair for us responsible people. How else can you explain the restaurants and malls still being packed? No house payments is like getting an instant raise.

[poorsaver]

Where are all the foreclosures? Simple answer. The banks are holding on to them and letting the previous owners live in them rent free. In fact often they won’t even foreclose at all. I know of several people that have been living for well over a year after making their last payment, and still haven’t gotten any notices from the bank. Amazing. Sad and unfair for us responsible people. How else can you explain the restaurants and malls still being packed? No house payments is like getting an instant raise.

[poorsaver]

Where are all the foreclosures? Simple answer. The banks are holding on to them and letting the previous owners live in them rent free. In fact often they won’t even foreclose at all. I know of several people that have been living for well over a year after making their last payment, and still haven’t gotten any notices from the bank. Amazing. Sad and unfair for us responsible people. How else can you explain the restaurants and malls still being packed? No house payments is like getting an instant raise.

[poorsaver]

Where are all the foreclosures? Simple answer. The banks are holding on to them and letting the previous owners live in them rent free. In fact often they won’t even foreclose at all. I know of several people that have been living for well over a year after making their last payment, and still haven’t gotten any notices from the bank. Amazing. Sad and unfair for us responsible people. How else can you explain the restaurants and malls still being packed? No house payments is like getting an instant raise.

[poorsaver]

Where are all the foreclosures? Simple answer. The banks are holding on to them and letting the previous owners live in them rent free. In fact often they won’t even foreclose at all. I know of several people that have been living for well over a year after making their last payment, and still haven’t gotten any notices from the bank. Amazing. Sad and unfair for us responsible people. How else can you explain the restaurants and malls still being packed? No house payments is like getting an instant raise.

[PadreBrian]

[quote=jpinpb]Padre – here is another one:

3739 Balboa Terrace B is not fraud, but just bank delaying foreclosure.

They received their NOD in July 2008. Foreclosure was scheduled 12-22. It kept getting postponed. They have been attempting to sell since May 2008. Here we are in April 2009. It just recently went pending. It will be interesting to see at what it closes.

I only happen to remember this b/c I am in the area. But suffice to say that the banks are taking quite a while to foreclose. There are many more like this. It is not uncommon.[/quote]

I agree, looks like a dumb dumb bank.

I think we can all come to terms here and call a club a club. There’s no vast right-wing conspiracy here in SD. Over the last 2 years since I have been a member I have been keeping track of of CV. Banks are NOT hiding phantom properties. They always make it to market. Yes, sometimes that takes close to a year if the thief squatting in the house knows how to drag it out, but they always make it to market sooner or later.

[PadreBrian]

[quote=jpinpb]Padre – here is another one:

3739 Balboa Terrace B is not fraud, but just bank delaying foreclosure.

They received their NOD in July 2008. Foreclosure was scheduled 12-22. It kept getting postponed. They have been attempting to sell since May 2008. Here we are in April 2009. It just recently went pending. It will be interesting to see at what it closes.

I only happen to remember this b/c I am in the area. But suffice to say that the banks are taking quite a while to foreclose. There are many more like this. It is not uncommon.[/quote]

I agree, looks like a dumb dumb bank.

I think we can all come to terms here and call a club a club. There’s no vast right-wing conspiracy here in SD. Over the last 2 years since I have been a member I have been keeping track of of CV. Banks are NOT hiding phantom properties. They always make it to market. Yes, sometimes that takes close to a year if the thief squatting in the house knows how to drag it out, but they always make it to market sooner or later.

[PadreBrian]

[quote=jpinpb]Padre – here is another one:

3739 Balboa Terrace B is not fraud, but just bank delaying foreclosure.

They received their NOD in July 2008. Foreclosure was scheduled 12-22. It kept getting postponed. They have been attempting to sell since May 2008. Here we are in April 2009. It just recently went pending. It will be interesting to see at what it closes.

I only happen to remember this b/c I am in the area. But suffice to say that the banks are taking quite a while to foreclose. There are many more like this. It is not uncommon.[/quote]

I agree, looks like a dumb dumb bank.

I think we can all come to terms here and call a club a club. There’s no vast right-wing conspiracy here in SD. Over the last 2 years since I have been a member I have been keeping track of of CV. Banks are NOT hiding phantom properties. They always make it to market. Yes, sometimes that takes close to a year if the thief squatting in the house knows how to drag it out, but they always make it to market sooner or later.

[PadreBrian]

[quote=jpinpb]Padre – here is another one:

3739 Balboa Terrace B is not fraud, but just bank delaying foreclosure.

They received their NOD in July 2008. Foreclosure was scheduled 12-22. It kept getting postponed. They have been attempting to sell since May 2008. Here we are in April 2009. It just recently went pending. It will be interesting to see at what it closes.

I only happen to remember this b/c I am in the area. But suffice to say that the banks are taking quite a while to foreclose. There are many more like this. It is not uncommon.[/quote]

I agree, looks like a dumb dumb bank.

I think we can all come to terms here and call a club a club. There’s no vast right-wing conspiracy here in SD. Over the last 2 years since I have been a member I have been keeping track of of CV. Banks are NOT hiding phantom properties. They always make it to market. Yes, sometimes that takes close to a year if the thief squatting in the house knows how to drag it out, but they always make it to market sooner or later.

[Author]

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