[DWCAP]

[quote]From June 2008 to June 2009, the number of American mortgages that were 90 days or more delinquent soared from 1.8 million to nearly 3 million, according to the realty research company First American Core Logic. During that period, the number of loans that resulted in the bank taking ownership of the home declined to 245,000, from 333,000. [/quote]

It would be interesting to find out if the reason that fewer houses were ending in foreclosure was because more were short selling, being refi’d, or just ignored by the banks who refuse to foreclose. I know they allude to the idea that banks are just trying to wait this out (Thanks to your tax dollars BTW) when they add
[quote]The company has been waiting and hoping the economy will improve and delinquent customers will resume making payments[/quote]

but I wonder if that is what they are actually doing. I really suspect they just dont wanna take the losses, and with mark to fantasy accounting, then can wait.

And why are they ‘traitors’? Have they sold inside knowledge to some foreign country or something? Are they plotting to overthrow the governement? Are they breaking any laws, anywhere? The only way they could be ‘traitors’ is if you somehow equate refiing loans for deliquent borrowers with the national good. I wouldnt agree with that, because what the government is doing right now is pretty much against every American ethos I knew of until 2008.

[DWCAP]

[quote]From June 2008 to June 2009, the number of American mortgages that were 90 days or more delinquent soared from 1.8 million to nearly 3 million, according to the realty research company First American Core Logic. During that period, the number of loans that resulted in the bank taking ownership of the home declined to 245,000, from 333,000. [/quote]

It would be interesting to find out if the reason that fewer houses were ending in foreclosure was because more were short selling, being refi’d, or just ignored by the banks who refuse to foreclose. I know they allude to the idea that banks are just trying to wait this out (Thanks to your tax dollars BTW) when they add
[quote]The company has been waiting and hoping the economy will improve and delinquent customers will resume making payments[/quote]

but I wonder if that is what they are actually doing. I really suspect they just dont wanna take the losses, and with mark to fantasy accounting, then can wait.

And why are they ‘traitors’? Have they sold inside knowledge to some foreign country or something? Are they plotting to overthrow the governement? Are they breaking any laws, anywhere? The only way they could be ‘traitors’ is if you somehow equate refiing loans for deliquent borrowers with the national good. I wouldnt agree with that, because what the government is doing right now is pretty much against every American ethos I knew of until 2008.

[DWCAP]

And who says that the best days of piggington are behind it?

We have bulls makeing raw accusations like “yah I may have overpaid from where the current bottom was, but I made lots of other investments which have cushioned it so it isnt so bad” and
“atleast I bought a house, unlike all you wanna bee’s that I dont think will ever buy anything.”

You have Bears making statements like

” As long as I keep waiting, I can always buy/sell at the top cause I havent ‘bought/sold’ yet.”
and “there are decades of inventory downtown (if you use raw/general numbers), so SD RE is still screwed.” As if somehow what is happening in the downtown rental market will effect the rest of the county.

It is like a flashback to 2006.

My personal favorite though is the disagreement on who has to actually bring data to defend their positions.

[DWCAP]

And who says that the best days of piggington are behind it?

We have bulls makeing raw accusations like “yah I may have overpaid from where the current bottom was, but I made lots of other investments which have cushioned it so it isnt so bad” and
“atleast I bought a house, unlike all you wanna bee’s that I dont think will ever buy anything.”

You have Bears making statements like

” As long as I keep waiting, I can always buy/sell at the top cause I havent ‘bought/sold’ yet.”
and “there are decades of inventory downtown (if you use raw/general numbers), so SD RE is still screwed.” As if somehow what is happening in the downtown rental market will effect the rest of the county.

It is like a flashback to 2006.

My personal favorite though is the disagreement on who has to actually bring data to defend their positions.

[DWCAP]

And who says that the best days of piggington are behind it?

We have bulls makeing raw accusations like “yah I may have overpaid from where the current bottom was, but I made lots of other investments which have cushioned it so it isnt so bad” and
“atleast I bought a house, unlike all you wanna bee’s that I dont think will ever buy anything.”

You have Bears making statements like

” As long as I keep waiting, I can always buy/sell at the top cause I havent ‘bought/sold’ yet.”
and “there are decades of inventory downtown (if you use raw/general numbers), so SD RE is still screwed.” As if somehow what is happening in the downtown rental market will effect the rest of the county.

It is like a flashback to 2006.

My personal favorite though is the disagreement on who has to actually bring data to defend their positions.

[DWCAP]

And who says that the best days of piggington are behind it?

We have bulls makeing raw accusations like “yah I may have overpaid from where the current bottom was, but I made lots of other investments which have cushioned it so it isnt so bad” and
“atleast I bought a house, unlike all you wanna bee’s that I dont think will ever buy anything.”

You have Bears making statements like

” As long as I keep waiting, I can always buy/sell at the top cause I havent ‘bought/sold’ yet.”
and “there are decades of inventory downtown (if you use raw/general numbers), so SD RE is still screwed.” As if somehow what is happening in the downtown rental market will effect the rest of the county.

It is like a flashback to 2006.

My personal favorite though is the disagreement on who has to actually bring data to defend their positions.

[DWCAP]

And who says that the best days of piggington are behind it?

We have bulls makeing raw accusations like “yah I may have overpaid from where the current bottom was, but I made lots of other investments which have cushioned it so it isnt so bad” and
“atleast I bought a house, unlike all you wanna bee’s that I dont think will ever buy anything.”

You have Bears making statements like

” As long as I keep waiting, I can always buy/sell at the top cause I havent ‘bought/sold’ yet.”
and “there are decades of inventory downtown (if you use raw/general numbers), so SD RE is still screwed.” As if somehow what is happening in the downtown rental market will effect the rest of the county.

It is like a flashback to 2006.

My personal favorite though is the disagreement on who has to actually bring data to defend their positions.

[DWCAP]

I got the ‘we are raising your rate unless you opt out’ letter too. I dont really care, cause I have never missed a payment and never for a second carried a balance. I am supprised I didnt get a letter saying “if you keep this s&!t up, we are canceling your card.” I have no fees, and obviusly no interst payments, but get a rebate every month that cuts my payment by a few bucks. The way I see it, they are paying me to use their card to collect the merchant fees I generate. They have gotta hate me.

I dont really understand why people care so much about what the theoritical interest rates are. Pay your bills and it is 0%, plus some rebate credits.

Strangly, I guess this is one of the few cases where the irresponsible subsidize the responsible.

[DWCAP]

I got the ‘we are raising your rate unless you opt out’ letter too. I dont really care, cause I have never missed a payment and never for a second carried a balance. I am supprised I didnt get a letter saying “if you keep this s&!t up, we are canceling your card.” I have no fees, and obviusly no interst payments, but get a rebate every month that cuts my payment by a few bucks. The way I see it, they are paying me to use their card to collect the merchant fees I generate. They have gotta hate me.

I dont really understand why people care so much about what the theoritical interest rates are. Pay your bills and it is 0%, plus some rebate credits.

Strangly, I guess this is one of the few cases where the irresponsible subsidize the responsible.

[DWCAP]

I got the ‘we are raising your rate unless you opt out’ letter too. I dont really care, cause I have never missed a payment and never for a second carried a balance. I am supprised I didnt get a letter saying “if you keep this s&!t up, we are canceling your card.” I have no fees, and obviusly no interst payments, but get a rebate every month that cuts my payment by a few bucks. The way I see it, they are paying me to use their card to collect the merchant fees I generate. They have gotta hate me.

I dont really understand why people care so much about what the theoritical interest rates are. Pay your bills and it is 0%, plus some rebate credits.

Strangly, I guess this is one of the few cases where the irresponsible subsidize the responsible.

[DWCAP]

I got the ‘we are raising your rate unless you opt out’ letter too. I dont really care, cause I have never missed a payment and never for a second carried a balance. I am supprised I didnt get a letter saying “if you keep this s&!t up, we are canceling your card.” I have no fees, and obviusly no interst payments, but get a rebate every month that cuts my payment by a few bucks. The way I see it, they are paying me to use their card to collect the merchant fees I generate. They have gotta hate me.

I dont really understand why people care so much about what the theoritical interest rates are. Pay your bills and it is 0%, plus some rebate credits.

Strangly, I guess this is one of the few cases where the irresponsible subsidize the responsible.

[DWCAP]

I got the ‘we are raising your rate unless you opt out’ letter too. I dont really care, cause I have never missed a payment and never for a second carried a balance. I am supprised I didnt get a letter saying “if you keep this s&!t up, we are canceling your card.” I have no fees, and obviusly no interst payments, but get a rebate every month that cuts my payment by a few bucks. The way I see it, they are paying me to use their card to collect the merchant fees I generate. They have gotta hate me.

I dont really understand why people care so much about what the theoritical interest rates are. Pay your bills and it is 0%, plus some rebate credits.

Strangly, I guess this is one of the few cases where the irresponsible subsidize the responsible.

[DWCAP]

When I was looking for a new rental we ran into the crap all the time. There were so many ways the scams ran. One was advertising a house in MM, but then when contacted for an address, told us it wasnt actually in MM, but close by. We still asked for the address, and it came back some BS address, with a CHULA VISTA zipcode. It had really nice pics though, and a really lame thing saying he lived in that house for years and was now on a christian mission to South America and Blah blah blah.

Or the one who wanted to rent his house out below market to some really good, hardworking honest people ….. but we had to MAIL in a $50 per person backround check before he would send us a contract; cause of course he wasnt in state at the moment. (still in the country though, Ohio I think the story went) Oh, and ofcourse we had to mail Cash.

Eventually we just stopped looking at the places that advertised rents significantly below market and assumed they were all scams. There are good deals out there right now, just realize that there arnt ‘once in a life time, awsome, only for you cause you are just that good of a person, kinda deals.

[DWCAP]

When I was looking for a new rental we ran into the crap all the time. There were so many ways the scams ran. One was advertising a house in MM, but then when contacted for an address, told us it wasnt actually in MM, but close by. We still asked for the address, and it came back some BS address, with a CHULA VISTA zipcode. It had really nice pics though, and a really lame thing saying he lived in that house for years and was now on a christian mission to South America and Blah blah blah.

Or the one who wanted to rent his house out below market to some really good, hardworking honest people ….. but we had to MAIL in a $50 per person backround check before he would send us a contract; cause of course he wasnt in state at the moment. (still in the country though, Ohio I think the story went) Oh, and ofcourse we had to mail Cash.

Eventually we just stopped looking at the places that advertised rents significantly below market and assumed they were all scams. There are good deals out there right now, just realize that there arnt ‘once in a life time, awsome, only for you cause you are just that good of a person, kinda deals.

[DWCAP]

When I was looking for a new rental we ran into the crap all the time. There were so many ways the scams ran. One was advertising a house in MM, but then when contacted for an address, told us it wasnt actually in MM, but close by. We still asked for the address, and it came back some BS address, with a CHULA VISTA zipcode. It had really nice pics though, and a really lame thing saying he lived in that house for years and was now on a christian mission to South America and Blah blah blah.

Or the one who wanted to rent his house out below market to some really good, hardworking honest people ….. but we had to MAIL in a $50 per person backround check before he would send us a contract; cause of course he wasnt in state at the moment. (still in the country though, Ohio I think the story went) Oh, and ofcourse we had to mail Cash.

Eventually we just stopped looking at the places that advertised rents significantly below market and assumed they were all scams. There are good deals out there right now, just realize that there arnt ‘once in a life time, awsome, only for you cause you are just that good of a person, kinda deals.

[Author]

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