So, where are all the foreclosures?

[jpinpb]

danthedart – it took them a long time to get it on the market in the summer of 2008. I remember seeing places w/NODs from the end of 2007 that didn’t get foreclosed upon until the summer of 2008. They have dragged this out for a very long time.

The only properties I’ve seen go from NOD to foreclosure in 3 months are the for certain investor properties, NODs getting mailed to a different address than the property receiving the NOD. The property does not get listed. They don’t attempt a short sale. W/in 3 months, the bank just takes it back.

Those were not very many. Most were trying to do short sales and the process was dragged out. Then the moratoriums, then the holidays. And here we are.

[PadreBrian]

I call bullshit on any CV REOs not going to market. I have been watching them like a hawk. Every time they pop into reo they are put onto the market…generally it takes 2-3 months to be listed.

If you have any addresses as proof, list them out, I would love to research them.

[PadreBrian]

I call bullshit on any CV REOs not going to market. I have been watching them like a hawk. Every time they pop into reo they are put onto the market…generally it takes 2-3 months to be listed.

If you have any addresses as proof, list them out, I would love to research them.

[PadreBrian]

I call bullshit on any CV REOs not going to market. I have been watching them like a hawk. Every time they pop into reo they are put onto the market…generally it takes 2-3 months to be listed.

If you have any addresses as proof, list them out, I would love to research them.

[PadreBrian]

I call bullshit on any CV REOs not going to market. I have been watching them like a hawk. Every time they pop into reo they are put onto the market…generally it takes 2-3 months to be listed.

If you have any addresses as proof, list them out, I would love to research them.

[PadreBrian]

I call bullshit on any CV REOs not going to market. I have been watching them like a hawk. Every time they pop into reo they are put onto the market…generally it takes 2-3 months to be listed.

If you have any addresses as proof, list them out, I would love to research them.

[jpinpb]

Sure. I’ve got a quick one that comes to mind. 13104 Chambord way. Let me know what you find out. I’m interested. I have posted many NODs in 10 zip codes and I see it first hand. I keep waiting wondering when the heck they are going to foreclose and they get postponed for a very long time. Just inordinate.

[jpinpb]

Sure. I’ve got a quick one that comes to mind. 13104 Chambord way. Let me know what you find out. I’m interested. I have posted many NODs in 10 zip codes and I see it first hand. I keep waiting wondering when the heck they are going to foreclose and they get postponed for a very long time. Just inordinate.

[jpinpb]

Sure. I’ve got a quick one that comes to mind. 13104 Chambord way. Let me know what you find out. I’m interested. I have posted many NODs in 10 zip codes and I see it first hand. I keep waiting wondering when the heck they are going to foreclose and they get postponed for a very long time. Just inordinate.

[jpinpb]

Sure. I’ve got a quick one that comes to mind. 13104 Chambord way. Let me know what you find out. I’m interested. I have posted many NODs in 10 zip codes and I see it first hand. I keep waiting wondering when the heck they are going to foreclose and they get postponed for a very long time. Just inordinate.

[jpinpb]

Sure. I’ve got a quick one that comes to mind. 13104 Chambord way. Let me know what you find out. I’m interested. I have posted many NODs in 10 zip codes and I see it first hand. I keep waiting wondering when the heck they are going to foreclose and they get postponed for a very long time. Just inordinate.

[LuckyInOC]

Here are some numbers from the FDIC…

Assets past due 30 – 89 days – Secured by 1-4 family residential properties
2005 $24.4B
2006 $32.2B
2007 $51.5B
2008 $78.8B @$250k/home = 315,200 homes

Assets past due 90 days or more – Secured by 1-4 family residential properties
2005 $10.3B
2006 $10.0B
2007 $14.3B
2008 $46.1B @$250k/home = 184,400 homes

http://www2.fdic.gov/SDI/SOB/
Criteria: all FDIC insured institutions; Loans and Leases;

Keep in mind, these are for FDIC insured institutions. Other mortgage companies and Credit Unions may not be included. The estimated number of homes is mine.

Notice how relatively flat are the 90+ numbers until 2008. What gives?

EDIT:

Some more numbers:

Loan Charge-Offs and Recoveries – Secured by 1-4 family residential properties
2005 $2.0B
2006 $3.1B
2007 $8.4B
2008 $27.0B

Think they may have realized they have a problem in 2008?

Lucky In OC

[LuckyInOC]

Here are some numbers from the FDIC…

Assets past due 30 – 89 days – Secured by 1-4 family residential properties
2005 $24.4B
2006 $32.2B
2007 $51.5B
2008 $78.8B @$250k/home = 315,200 homes

Assets past due 90 days or more – Secured by 1-4 family residential properties
2005 $10.3B
2006 $10.0B
2007 $14.3B
2008 $46.1B @$250k/home = 184,400 homes

http://www2.fdic.gov/SDI/SOB/
Criteria: all FDIC insured institutions; Loans and Leases;

Keep in mind, these are for FDIC insured institutions. Other mortgage companies and Credit Unions may not be included. The estimated number of homes is mine.

Notice how relatively flat are the 90+ numbers until 2008. What gives?

EDIT:

Some more numbers:

Loan Charge-Offs and Recoveries – Secured by 1-4 family residential properties
2005 $2.0B
2006 $3.1B
2007 $8.4B
2008 $27.0B

Think they may have realized they have a problem in 2008?

Lucky In OC

[LuckyInOC]

Here are some numbers from the FDIC…

Assets past due 30 – 89 days – Secured by 1-4 family residential properties
2005 $24.4B
2006 $32.2B
2007 $51.5B
2008 $78.8B @$250k/home = 315,200 homes

Assets past due 90 days or more – Secured by 1-4 family residential properties
2005 $10.3B
2006 $10.0B
2007 $14.3B
2008 $46.1B @$250k/home = 184,400 homes

http://www2.fdic.gov/SDI/SOB/
Criteria: all FDIC insured institutions; Loans and Leases;

Keep in mind, these are for FDIC insured institutions. Other mortgage companies and Credit Unions may not be included. The estimated number of homes is mine.

Notice how relatively flat are the 90+ numbers until 2008. What gives?

EDIT:

Some more numbers:

Loan Charge-Offs and Recoveries – Secured by 1-4 family residential properties
2005 $2.0B
2006 $3.1B
2007 $8.4B
2008 $27.0B

Think they may have realized they have a problem in 2008?

Lucky In OC

[LuckyInOC]

Here are some numbers from the FDIC…

Assets past due 30 – 89 days – Secured by 1-4 family residential properties
2005 $24.4B
2006 $32.2B
2007 $51.5B
2008 $78.8B @$250k/home = 315,200 homes

Assets past due 90 days or more – Secured by 1-4 family residential properties
2005 $10.3B
2006 $10.0B
2007 $14.3B
2008 $46.1B @$250k/home = 184,400 homes

http://www2.fdic.gov/SDI/SOB/
Criteria: all FDIC insured institutions; Loans and Leases;

Keep in mind, these are for FDIC insured institutions. Other mortgage companies and Credit Unions may not be included. The estimated number of homes is mine.

Notice how relatively flat are the 90+ numbers until 2008. What gives?

EDIT:

Some more numbers:

Loan Charge-Offs and Recoveries – Secured by 1-4 family residential properties
2005 $2.0B
2006 $3.1B
2007 $8.4B
2008 $27.0B

Think they may have realized they have a problem in 2008?

Lucky In OC

[Author]

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