So, where are all the foreclosures?

[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.

[jpinpb]

[quote=PadreBrian]
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.
[/quote]

Well, yes. That much I agree. So far it would appear that eventually they do end up for sale and for less. The process is inordinately long for many.

But the bigger question is now that the bank has money from the gov/taxpayers, are they going to re-work loans? We’ve heard from some that yes, they are absolutely doing loan mods.

I don’t know if anyone heard Rich on These Days but Matt said emphatically that they are NOT reducing principle.

So I guess they’ll lock in a lower rate. That’s something. It’ll help some people.

BUT, I hear there are criterias, must be current on loan, must have good cause, job loss/reduced income, etc.

So the next obvious questions is the 4k+ of NODs last month in San Diego alone all going to be re-worked?

And another question I hope someone can answer. Are the loan mods/re-worked loans recourse?

[jpinpb]

[quote=PadreBrian]
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.
[/quote]

Well, yes. That much I agree. So far it would appear that eventually they do end up for sale and for less. The process is inordinately long for many.

But the bigger question is now that the bank has money from the gov/taxpayers, are they going to re-work loans? We’ve heard from some that yes, they are absolutely doing loan mods.

I don’t know if anyone heard Rich on These Days but Matt said emphatically that they are NOT reducing principle.

So I guess they’ll lock in a lower rate. That’s something. It’ll help some people.

BUT, I hear there are criterias, must be current on loan, must have good cause, job loss/reduced income, etc.

So the next obvious questions is the 4k+ of NODs last month in San Diego alone all going to be re-worked?

And another question I hope someone can answer. Are the loan mods/re-worked loans recourse?

[jpinpb]

[quote=PadreBrian]
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.
[/quote]

Well, yes. That much I agree. So far it would appear that eventually they do end up for sale and for less. The process is inordinately long for many.

But the bigger question is now that the bank has money from the gov/taxpayers, are they going to re-work loans? We’ve heard from some that yes, they are absolutely doing loan mods.

I don’t know if anyone heard Rich on These Days but Matt said emphatically that they are NOT reducing principle.

So I guess they’ll lock in a lower rate. That’s something. It’ll help some people.

BUT, I hear there are criterias, must be current on loan, must have good cause, job loss/reduced income, etc.

So the next obvious questions is the 4k+ of NODs last month in San Diego alone all going to be re-worked?

And another question I hope someone can answer. Are the loan mods/re-worked loans recourse?

[jpinpb]

[quote=PadreBrian]
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.
[/quote]

Well, yes. That much I agree. So far it would appear that eventually they do end up for sale and for less. The process is inordinately long for many.

But the bigger question is now that the bank has money from the gov/taxpayers, are they going to re-work loans? We’ve heard from some that yes, they are absolutely doing loan mods.

I don’t know if anyone heard Rich on These Days but Matt said emphatically that they are NOT reducing principle.

So I guess they’ll lock in a lower rate. That’s something. It’ll help some people.

BUT, I hear there are criterias, must be current on loan, must have good cause, job loss/reduced income, etc.

So the next obvious questions is the 4k+ of NODs last month in San Diego alone all going to be re-worked?

And another question I hope someone can answer. Are the loan mods/re-worked loans recourse?

[jpinpb]

[quote=PadreBrian]
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.
[/quote]

Well, yes. That much I agree. So far it would appear that eventually they do end up for sale and for less. The process is inordinately long for many.

But the bigger question is now that the bank has money from the gov/taxpayers, are they going to re-work loans? We’ve heard from some that yes, they are absolutely doing loan mods.

I don’t know if anyone heard Rich on These Days but Matt said emphatically that they are NOT reducing principle.

So I guess they’ll lock in a lower rate. That’s something. It’ll help some people.

BUT, I hear there are criterias, must be current on loan, must have good cause, job loss/reduced income, etc.

So the next obvious questions is the 4k+ of NODs last month in San Diego alone all going to be re-worked?

And another question I hope someone can answer. Are the loan mods/re-worked loans recourse?

[an]

I personally don’t think the bank is holding back any of this “phantom” inventory by choice. With the low end going gang buster, now would be the perfect time to let loose some of those “phantom” inventory, but they’re not. Which is why I think they can’t. Based on many foreclosure tracking websites, Mira Mesa is still red hot with foreclosure (NOD, NOT, REO). Yet, the current supply is dwindling. As of right now, there’s only 59 SFH and 75 condo for sale. That’s ridiculously low IMHO. With a few people predicting the flood gate will be let loose soon, any projection as to when?

[an]

I personally don’t think the bank is holding back any of this “phantom” inventory by choice. With the low end going gang buster, now would be the perfect time to let loose some of those “phantom” inventory, but they’re not. Which is why I think they can’t. Based on many foreclosure tracking websites, Mira Mesa is still red hot with foreclosure (NOD, NOT, REO). Yet, the current supply is dwindling. As of right now, there’s only 59 SFH and 75 condo for sale. That’s ridiculously low IMHO. With a few people predicting the flood gate will be let loose soon, any projection as to when?

[an]

I personally don’t think the bank is holding back any of this “phantom” inventory by choice. With the low end going gang buster, now would be the perfect time to let loose some of those “phantom” inventory, but they’re not. Which is why I think they can’t. Based on many foreclosure tracking websites, Mira Mesa is still red hot with foreclosure (NOD, NOT, REO). Yet, the current supply is dwindling. As of right now, there’s only 59 SFH and 75 condo for sale. That’s ridiculously low IMHO. With a few people predicting the flood gate will be let loose soon, any projection as to when?

[an]

I personally don’t think the bank is holding back any of this “phantom” inventory by choice. With the low end going gang buster, now would be the perfect time to let loose some of those “phantom” inventory, but they’re not. Which is why I think they can’t. Based on many foreclosure tracking websites, Mira Mesa is still red hot with foreclosure (NOD, NOT, REO). Yet, the current supply is dwindling. As of right now, there’s only 59 SFH and 75 condo for sale. That’s ridiculously low IMHO. With a few people predicting the flood gate will be let loose soon, any projection as to when?

[an]

I personally don’t think the bank is holding back any of this “phantom” inventory by choice. With the low end going gang buster, now would be the perfect time to let loose some of those “phantom” inventory, but they’re not. Which is why I think they can’t. Based on many foreclosure tracking websites, Mira Mesa is still red hot with foreclosure (NOD, NOT, REO). Yet, the current supply is dwindling. As of right now, there’s only 59 SFH and 75 condo for sale. That’s ridiculously low IMHO. With a few people predicting the flood gate will be let loose soon, any projection as to when?

[jpinpb]

That’s what I’d like to know. I see the overhang. Are they going to rework ALL the NODs? I mean, there are so many criteria to be met, they just can’t. So what’s the hold up?

[jpinpb]

That’s what I’d like to know. I see the overhang. Are they going to rework ALL the NODs? I mean, there are so many criteria to be met, they just can’t. So what’s the hold up?

[jpinpb]

That’s what I’d like to know. I see the overhang. Are they going to rework ALL the NODs? I mean, there are so many criteria to be met, they just can’t. So what’s the hold up?

[jpinpb]

That’s what I’d like to know. I see the overhang. Are they going to rework ALL the NODs? I mean, there are so many criteria to be met, they just can’t. So what’s the hold up?

[Author]

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