This never ends : “CA Foreclosure Prevention Act Coming Up”

[SD Realtor]

Don’t think for a moment that this is the last of the legislation.

[golfproz]

Is this law even an issue.

It extends the time from 90 days to 180 days from filing of NOD to filing of NOT. Anyone ever seen a filing of an NOT faster than 6 months lately?

It applies to lenders that don’t already have a loan mod program in place. Most of them already do. This looks like more legislative fluff, to keep the ACORNers happy….

[golfproz]

Is this law even an issue.

It extends the time from 90 days to 180 days from filing of NOD to filing of NOT. Anyone ever seen a filing of an NOT faster than 6 months lately?

It applies to lenders that don’t already have a loan mod program in place. Most of them already do. This looks like more legislative fluff, to keep the ACORNers happy….

[golfproz]

Is this law even an issue.

It extends the time from 90 days to 180 days from filing of NOD to filing of NOT. Anyone ever seen a filing of an NOT faster than 6 months lately?

It applies to lenders that don’t already have a loan mod program in place. Most of them already do. This looks like more legislative fluff, to keep the ACORNers happy….

[golfproz]

Is this law even an issue.

It extends the time from 90 days to 180 days from filing of NOD to filing of NOT. Anyone ever seen a filing of an NOT faster than 6 months lately?

It applies to lenders that don’t already have a loan mod program in place. Most of them already do. This looks like more legislative fluff, to keep the ACORNers happy….

[golfproz]

Is this law even an issue.

It extends the time from 90 days to 180 days from filing of NOD to filing of NOT. Anyone ever seen a filing of an NOT faster than 6 months lately?

It applies to lenders that don’t already have a loan mod program in place. Most of them already do. This looks like more legislative fluff, to keep the ACORNers happy….

[SD Realtor]

“Anyone ever seen a filing of an NOT faster than 6 months lately?”

Exactly golfproz… once upon a time they used to get processed in a little over 3 months.

Now it takes 6 months. Maybe someday it will take year….

***********

Why doesnt this enrage people?

***********

Do the banks even care? Probably not. Let’s see… they are going to get all of the non performing assets bought out by investors. They also have been given plenty of taxpayer money.

This is such an absolute laughable scenario. Even funnier is that measure after measure after measure is met with, oh this will not affect things much, this will not slow things down, this will not stop the second wave, this will not prevent the 10 billion foreclosures….

So when are people going to wake up and maybe start to think, “holy crap… this stuff is actually really hurting the slowdown…”

All I know is, something better change, we better damn well get foreclosures to flood the market because right now things need to change inventory wise.

I know alot of sellers are in denial but Piggs shouldn’t be in denial either. I am not arguing that this measure alone will slow things down substantially. However these measures are starting to add up guys.

[SD Realtor]

“Anyone ever seen a filing of an NOT faster than 6 months lately?”

Exactly golfproz… once upon a time they used to get processed in a little over 3 months.

Now it takes 6 months. Maybe someday it will take year….

***********

Why doesnt this enrage people?

***********

Do the banks even care? Probably not. Let’s see… they are going to get all of the non performing assets bought out by investors. They also have been given plenty of taxpayer money.

This is such an absolute laughable scenario. Even funnier is that measure after measure after measure is met with, oh this will not affect things much, this will not slow things down, this will not stop the second wave, this will not prevent the 10 billion foreclosures….

So when are people going to wake up and maybe start to think, “holy crap… this stuff is actually really hurting the slowdown…”

All I know is, something better change, we better damn well get foreclosures to flood the market because right now things need to change inventory wise.

I know alot of sellers are in denial but Piggs shouldn’t be in denial either. I am not arguing that this measure alone will slow things down substantially. However these measures are starting to add up guys.

[SD Realtor]

“Anyone ever seen a filing of an NOT faster than 6 months lately?”

Exactly golfproz… once upon a time they used to get processed in a little over 3 months.

Now it takes 6 months. Maybe someday it will take year….

***********

Why doesnt this enrage people?

***********

Do the banks even care? Probably not. Let’s see… they are going to get all of the non performing assets bought out by investors. They also have been given plenty of taxpayer money.

This is such an absolute laughable scenario. Even funnier is that measure after measure after measure is met with, oh this will not affect things much, this will not slow things down, this will not stop the second wave, this will not prevent the 10 billion foreclosures….

So when are people going to wake up and maybe start to think, “holy crap… this stuff is actually really hurting the slowdown…”

All I know is, something better change, we better damn well get foreclosures to flood the market because right now things need to change inventory wise.

I know alot of sellers are in denial but Piggs shouldn’t be in denial either. I am not arguing that this measure alone will slow things down substantially. However these measures are starting to add up guys.

[SD Realtor]

“Anyone ever seen a filing of an NOT faster than 6 months lately?”

Exactly golfproz… once upon a time they used to get processed in a little over 3 months.

Now it takes 6 months. Maybe someday it will take year….

***********

Why doesnt this enrage people?

***********

Do the banks even care? Probably not. Let’s see… they are going to get all of the non performing assets bought out by investors. They also have been given plenty of taxpayer money.

This is such an absolute laughable scenario. Even funnier is that measure after measure after measure is met with, oh this will not affect things much, this will not slow things down, this will not stop the second wave, this will not prevent the 10 billion foreclosures….

So when are people going to wake up and maybe start to think, “holy crap… this stuff is actually really hurting the slowdown…”

All I know is, something better change, we better damn well get foreclosures to flood the market because right now things need to change inventory wise.

I know alot of sellers are in denial but Piggs shouldn’t be in denial either. I am not arguing that this measure alone will slow things down substantially. However these measures are starting to add up guys.

[SD Realtor]

“Anyone ever seen a filing of an NOT faster than 6 months lately?”

Exactly golfproz… once upon a time they used to get processed in a little over 3 months.

Now it takes 6 months. Maybe someday it will take year….

***********

Why doesnt this enrage people?

***********

Do the banks even care? Probably not. Let’s see… they are going to get all of the non performing assets bought out by investors. They also have been given plenty of taxpayer money.

This is such an absolute laughable scenario. Even funnier is that measure after measure after measure is met with, oh this will not affect things much, this will not slow things down, this will not stop the second wave, this will not prevent the 10 billion foreclosures….

So when are people going to wake up and maybe start to think, “holy crap… this stuff is actually really hurting the slowdown…”

All I know is, something better change, we better damn well get foreclosures to flood the market because right now things need to change inventory wise.

I know alot of sellers are in denial but Piggs shouldn’t be in denial either. I am not arguing that this measure alone will slow things down substantially. However these measures are starting to add up guys.

[KIBU]

Only thing different I can see is that the wait will be longer and longer but the price will still go down much more for the areas not significantly hit yet.

It will come to a point when the collapsing housing market is not the only worst thing that will/can happen, the govt’s actions will bring other disasters looming as well that together won’t allow govt to forever go down this delaying route.

But personally how many years do you want to wait???

[KIBU]

Only thing different I can see is that the wait will be longer and longer but the price will still go down much more for the areas not significantly hit yet.

It will come to a point when the collapsing housing market is not the only worst thing that will/can happen, the govt’s actions will bring other disasters looming as well that together won’t allow govt to forever go down this delaying route.

But personally how many years do you want to wait???

[KIBU]

Only thing different I can see is that the wait will be longer and longer but the price will still go down much more for the areas not significantly hit yet.

It will come to a point when the collapsing housing market is not the only worst thing that will/can happen, the govt’s actions will bring other disasters looming as well that together won’t allow govt to forever go down this delaying route.

But personally how many years do you want to wait???

[KIBU]

Only thing different I can see is that the wait will be longer and longer but the price will still go down much more for the areas not significantly hit yet.

It will come to a point when the collapsing housing market is not the only worst thing that will/can happen, the govt’s actions will bring other disasters looming as well that together won’t allow govt to forever go down this delaying route.

But personally how many years do you want to wait???

[Author]

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