[DaCounselor]

Fisher is a hawk and an easing dissenter so his most recent comments are just more of the same from him. I think he may be alone, or close to it, in his call for tightening even in the face of what he terms an “anemic economic scenario”. Even Hoenig will probably not favor tightening if the economy is “anemic”.

I’m with Warren from Omaha – we’re probably in for a longer, rougher ride than most are foreseeing or at least willing to acknowledge. If that’s the case, I don’t see any tightening while we are in such a rut. I would be absolutely stunned if Fisher’s call for tightening in the midst of such a rut would be realized.

[DaCounselor]

Fisher is a hawk and an easing dissenter so his most recent comments are just more of the same from him. I think he may be alone, or close to it, in his call for tightening even in the face of what he terms an “anemic economic scenario”. Even Hoenig will probably not favor tightening if the economy is “anemic”.

I’m with Warren from Omaha – we’re probably in for a longer, rougher ride than most are foreseeing or at least willing to acknowledge. If that’s the case, I don’t see any tightening while we are in such a rut. I would be absolutely stunned if Fisher’s call for tightening in the midst of such a rut would be realized.

[DaCounselor]

Fisher is a hawk and an easing dissenter so his most recent comments are just more of the same from him. I think he may be alone, or close to it, in his call for tightening even in the face of what he terms an “anemic economic scenario”. Even Hoenig will probably not favor tightening if the economy is “anemic”.

I’m with Warren from Omaha – we’re probably in for a longer, rougher ride than most are foreseeing or at least willing to acknowledge. If that’s the case, I don’t see any tightening while we are in such a rut. I would be absolutely stunned if Fisher’s call for tightening in the midst of such a rut would be realized.

[DaCounselor]

Fisher is a hawk and an easing dissenter so his most recent comments are just more of the same from him. I think he may be alone, or close to it, in his call for tightening even in the face of what he terms an “anemic economic scenario”. Even Hoenig will probably not favor tightening if the economy is “anemic”.

I’m with Warren from Omaha – we’re probably in for a longer, rougher ride than most are foreseeing or at least willing to acknowledge. If that’s the case, I don’t see any tightening while we are in such a rut. I would be absolutely stunned if Fisher’s call for tightening in the midst of such a rut would be realized.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

I wouldn’t worry. I would sit tight and wait for the 30 day notice to vacate and hopefully get an offer from the lender for cash in exchange for leaving the place clean. They may even offer reduced rent going forward and allow you to stay in exchange for making the house available for showings.

If your security deposit is large enough, I would sue the owner in small claims court. The owner is going to have a tough time arguing that you shouldn’t get the full deposit back. You should also be able to obtain pre-judgment interest at 10% running from the date the deposit was due back to you, plus court fees, plus interest on the judgment moving forward, plus certain judgment enforcement costs. Even if you don’t recover any money right away, the judgment is racking up 10% interest moving forward – not a bad rate of return these days.

[DaCounselor]

Ruthless defaults are absolutely occurring – this is no secret to those inside the industry. They are happening in very noticeable numbers. The concerns moving forward are the effects on ability due primarily to upward modification of payments and, to a lesser extent, income reduction. I’m talking about those who have ability now but may not moving forward. Big, big issue in the industry. The fizzle of the Great Re-set Tsunami of 2008 has granted the industry (and borrowers) temporary reprieve, but there are storm clouds on the horizon.

Those who maintain ability to pay regardless of re-sets are in a different category and are the real wildcard here. Wildcards are dangerous. There is certainly a growing belief in the industry that these folks’ credit is for sale if the price is right. It’s a combination of being underwater by enough and having a re-set that pushes the spread between the mortgage and a comparable rental to a number that is too attractive to pass up. What’s your credit worth – erase $200K in negative equity and decrease my monthly housing cost by $2500 – hit the deal button. Credit for sale.

I just don’t see a way out other than loan mods – including interest rate freezes, rate reductions and balance write-downs. Dodd-Frank are on the right track, at least in terms of identifying the solutions. I’m not saying a govt bailout is the way to go, but modifications need to be made if they want to contain the ruthless defaults. Otherwise, it’s truly a free market wild ride. Which I’m not necessarily against. But I don’t think we’re going to avoid more major intervention and industry gymnastics.

[DaCounselor]

Ruthless defaults are absolutely occurring – this is no secret to those inside the industry. They are happening in very noticeable numbers. The concerns moving forward are the effects on ability due primarily to upward modification of payments and, to a lesser extent, income reduction. I’m talking about those who have ability now but may not moving forward. Big, big issue in the industry. The fizzle of the Great Re-set Tsunami of 2008 has granted the industry (and borrowers) temporary reprieve, but there are storm clouds on the horizon.

Those who maintain ability to pay regardless of re-sets are in a different category and are the real wildcard here. Wildcards are dangerous. There is certainly a growing belief in the industry that these folks’ credit is for sale if the price is right. It’s a combination of being underwater by enough and having a re-set that pushes the spread between the mortgage and a comparable rental to a number that is too attractive to pass up. What’s your credit worth – erase $200K in negative equity and decrease my monthly housing cost by $2500 – hit the deal button. Credit for sale.

I just don’t see a way out other than loan mods – including interest rate freezes, rate reductions and balance write-downs. Dodd-Frank are on the right track, at least in terms of identifying the solutions. I’m not saying a govt bailout is the way to go, but modifications need to be made if they want to contain the ruthless defaults. Otherwise, it’s truly a free market wild ride. Which I’m not necessarily against. But I don’t think we’re going to avoid more major intervention and industry gymnastics.

[DaCounselor]

Ruthless defaults are absolutely occurring – this is no secret to those inside the industry. They are happening in very noticeable numbers. The concerns moving forward are the effects on ability due primarily to upward modification of payments and, to a lesser extent, income reduction. I’m talking about those who have ability now but may not moving forward. Big, big issue in the industry. The fizzle of the Great Re-set Tsunami of 2008 has granted the industry (and borrowers) temporary reprieve, but there are storm clouds on the horizon.

Those who maintain ability to pay regardless of re-sets are in a different category and are the real wildcard here. Wildcards are dangerous. There is certainly a growing belief in the industry that these folks’ credit is for sale if the price is right. It’s a combination of being underwater by enough and having a re-set that pushes the spread between the mortgage and a comparable rental to a number that is too attractive to pass up. What’s your credit worth – erase $200K in negative equity and decrease my monthly housing cost by $2500 – hit the deal button. Credit for sale.

I just don’t see a way out other than loan mods – including interest rate freezes, rate reductions and balance write-downs. Dodd-Frank are on the right track, at least in terms of identifying the solutions. I’m not saying a govt bailout is the way to go, but modifications need to be made if they want to contain the ruthless defaults. Otherwise, it’s truly a free market wild ride. Which I’m not necessarily against. But I don’t think we’re going to avoid more major intervention and industry gymnastics.

[DaCounselor]

Ruthless defaults are absolutely occurring – this is no secret to those inside the industry. They are happening in very noticeable numbers. The concerns moving forward are the effects on ability due primarily to upward modification of payments and, to a lesser extent, income reduction. I’m talking about those who have ability now but may not moving forward. Big, big issue in the industry. The fizzle of the Great Re-set Tsunami of 2008 has granted the industry (and borrowers) temporary reprieve, but there are storm clouds on the horizon.

Those who maintain ability to pay regardless of re-sets are in a different category and are the real wildcard here. Wildcards are dangerous. There is certainly a growing belief in the industry that these folks’ credit is for sale if the price is right. It’s a combination of being underwater by enough and having a re-set that pushes the spread between the mortgage and a comparable rental to a number that is too attractive to pass up. What’s your credit worth – erase $200K in negative equity and decrease my monthly housing cost by $2500 – hit the deal button. Credit for sale.

I just don’t see a way out other than loan mods – including interest rate freezes, rate reductions and balance write-downs. Dodd-Frank are on the right track, at least in terms of identifying the solutions. I’m not saying a govt bailout is the way to go, but modifications need to be made if they want to contain the ruthless defaults. Otherwise, it’s truly a free market wild ride. Which I’m not necessarily against. But I don’t think we’re going to avoid more major intervention and industry gymnastics.

[DaCounselor]

Ruthless defaults are absolutely occurring – this is no secret to those inside the industry. They are happening in very noticeable numbers. The concerns moving forward are the effects on ability due primarily to upward modification of payments and, to a lesser extent, income reduction. I’m talking about those who have ability now but may not moving forward. Big, big issue in the industry. The fizzle of the Great Re-set Tsunami of 2008 has granted the industry (and borrowers) temporary reprieve, but there are storm clouds on the horizon.

Those who maintain ability to pay regardless of re-sets are in a different category and are the real wildcard here. Wildcards are dangerous. There is certainly a growing belief in the industry that these folks’ credit is for sale if the price is right. It’s a combination of being underwater by enough and having a re-set that pushes the spread between the mortgage and a comparable rental to a number that is too attractive to pass up. What’s your credit worth – erase $200K in negative equity and decrease my monthly housing cost by $2500 – hit the deal button. Credit for sale.

I just don’t see a way out other than loan mods – including interest rate freezes, rate reductions and balance write-downs. Dodd-Frank are on the right track, at least in terms of identifying the solutions. I’m not saying a govt bailout is the way to go, but modifications need to be made if they want to contain the ruthless defaults. Otherwise, it’s truly a free market wild ride. Which I’m not necessarily against. But I don’t think we’re going to avoid more major intervention and industry gymnastics.

[DaCounselor]

Yeah, Leesburg is pretty far out there. It’s not exactly in the middle of nowhere anymore due to all the development out in the far western ‘burbs, but it’s still a haul and a half to get into DC. I have a number of good friends who live in the general vicinity (Ashburn area). Huge swaths of track housing out there – from condos to Mcmansions. I think they are going to get hit pretty hard out there with devaluation when all is said and done, but probably not as bad as out here in SD. The DC/NoVa economy always seem to weather the storms better than most places which will help prop up the market.

If you want to track true luxury valuation in the DC area you do need to be looking at places like McLean, Great Falls, BCC, etc. Not sure what is happening there, but I do know a fella who bought a 1 bed condo in Shirlington in ’05 for $320K and they are selling now for around $280K.

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