Where will these new pre-foreclosure and NODs end?

[RB132]

I have been looking at the trulia.com and other sites for foreclosed homes. Every week, there are 10 to 20 pre-foreclosures listed in each zipcode, such as below. As one realtor friend told me, they are NOD. Is this part of Loan modification step? how much % of these NOD will end as REO or short sale?

Tierra Tesoro , San Diego, CA 92127 Map 7/21/2009 4 5 4,260 $17,604
Tablero Ct , San Diego, CA 92127 Map 7/20/2009 4 2 1,988 $9,319
W Bernardo Dr # 105, San Diego, CA 92127 Map 7/20/2009 2 1 855 $8,391
Cabela Dr , San Diego, CA 92127 Map 7/20/2009 3 2 1,419 $14,344
New Park Ter, San Diego, CA 92127 Map 7/20/2009 3 3 2,888 $19,148
Clasico Ct, San Diego, CA 92127 Map 7/20/2009 4 3 1,958 $28,983
Paseo Allegria Ave, San Diego, CA 92127 Map 7/20/2009 3 3 2,687 $13,885

Entrada Lazanja, San Diego, CA 92127 Map 7/20/2009 4 5 4,453 $77,936
New Rochelle Way # 85, San Diego, CA 92127 Map 7/20/2009 3 3 1,642 $57,028

More?

[Rt.66]

I’ve been seeing the same thing. To answer the question for myself, I ask….how many people will continue to pay a $600k mortgage on a $250k home?

I have hoods I watch in different areas of the country, and what I am seeing is its bad all over and like you’ve noticed, its been accelerating for the past few months.

The tide has turned, walking away no longer has a stigma and the pigmen (not PIGGs) have no idea what to do when the debt slaves decide they would rather be free.

San Diego is not unique. Believe it or not even in Cuyahoga county Ohio where houses in Cleveland and surrounding areas can be had for $6000.00 there are areas that still have little under $250k. Reminds me of the better parts of San Diego and how the areas around it wasted no time falling off a cliff but SD remains stubbornly clinging to the ledge.

There is a huge disconnect right now.

[Rt.66]

I’ve been seeing the same thing. To answer the question for myself, I ask….how many people will continue to pay a $600k mortgage on a $250k home?

I have hoods I watch in different areas of the country, and what I am seeing is its bad all over and like you’ve noticed, its been accelerating for the past few months.

The tide has turned, walking away no longer has a stigma and the pigmen (not PIGGs) have no idea what to do when the debt slaves decide they would rather be free.

San Diego is not unique. Believe it or not even in Cuyahoga county Ohio where houses in Cleveland and surrounding areas can be had for $6000.00 there are areas that still have little under $250k. Reminds me of the better parts of San Diego and how the areas around it wasted no time falling off a cliff but SD remains stubbornly clinging to the ledge.

There is a huge disconnect right now.

[Rt.66]

I’ve been seeing the same thing. To answer the question for myself, I ask….how many people will continue to pay a $600k mortgage on a $250k home?

I have hoods I watch in different areas of the country, and what I am seeing is its bad all over and like you’ve noticed, its been accelerating for the past few months.

The tide has turned, walking away no longer has a stigma and the pigmen (not PIGGs) have no idea what to do when the debt slaves decide they would rather be free.

San Diego is not unique. Believe it or not even in Cuyahoga county Ohio where houses in Cleveland and surrounding areas can be had for $6000.00 there are areas that still have little under $250k. Reminds me of the better parts of San Diego and how the areas around it wasted no time falling off a cliff but SD remains stubbornly clinging to the ledge.

There is a huge disconnect right now.

[Rt.66]

I’ve been seeing the same thing. To answer the question for myself, I ask….how many people will continue to pay a $600k mortgage on a $250k home?

I have hoods I watch in different areas of the country, and what I am seeing is its bad all over and like you’ve noticed, its been accelerating for the past few months.

The tide has turned, walking away no longer has a stigma and the pigmen (not PIGGs) have no idea what to do when the debt slaves decide they would rather be free.

San Diego is not unique. Believe it or not even in Cuyahoga county Ohio where houses in Cleveland and surrounding areas can be had for $6000.00 there are areas that still have little under $250k. Reminds me of the better parts of San Diego and how the areas around it wasted no time falling off a cliff but SD remains stubbornly clinging to the ledge.

There is a huge disconnect right now.

[Rt.66]

I’ve been seeing the same thing. To answer the question for myself, I ask….how many people will continue to pay a $600k mortgage on a $250k home?

I have hoods I watch in different areas of the country, and what I am seeing is its bad all over and like you’ve noticed, its been accelerating for the past few months.

The tide has turned, walking away no longer has a stigma and the pigmen (not PIGGs) have no idea what to do when the debt slaves decide they would rather be free.

San Diego is not unique. Believe it or not even in Cuyahoga county Ohio where houses in Cleveland and surrounding areas can be had for $6000.00 there are areas that still have little under $250k. Reminds me of the better parts of San Diego and how the areas around it wasted no time falling off a cliff but SD remains stubbornly clinging to the ledge.

There is a huge disconnect right now.

[Author]

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