[Eugene]

It’s possible that all the bail out talk gave people a spark of hope. This may have enticed them to make a payment in the hopes that the bail out would save them.

This would explain the decline in NODs, but not the decline in foreclosures. People who were supposed to be foreclosed upon in November are the ones that stopped paying for their homes sometime around March and were served a notice of default in July. Making a single payment does not save you from a foreclosure if you’re 6 months behind. Once you get a NOD, there are only three ways out. 1) Refinance 2) Sell 3) Foreclose. Foreclosures aren’t happening, sales are still slow, and third-party refinancing is probably very hard to find, given recent price declines. That leaves two options. Either lenders are engaged in mass modification of defaulting loans, or they are delaying foreclosures for whatever reason. One plausible explanation is that they are not foreclosing on any borrower attempting a short sale. Short sale leaves much more money in the lender’s pocket than REO.

[Eugene]

It’s possible that all the bail out talk gave people a spark of hope. This may have enticed them to make a payment in the hopes that the bail out would save them.

This would explain the decline in NODs, but not the decline in foreclosures. People who were supposed to be foreclosed upon in November are the ones that stopped paying for their homes sometime around March and were served a notice of default in July. Making a single payment does not save you from a foreclosure if you’re 6 months behind. Once you get a NOD, there are only three ways out. 1) Refinance 2) Sell 3) Foreclose. Foreclosures aren’t happening, sales are still slow, and third-party refinancing is probably very hard to find, given recent price declines. That leaves two options. Either lenders are engaged in mass modification of defaulting loans, or they are delaying foreclosures for whatever reason. One plausible explanation is that they are not foreclosing on any borrower attempting a short sale. Short sale leaves much more money in the lender’s pocket than REO.

[Eugene]

It didn’t seem all that successful according the contributors on the Wiki.

They have successfully devalued the dollar by 50%, improved current account deficit and competitiveness of American products, and it did not lead to the collapse of the American empire.

my question is…if not RP, then who?

Someone who’s willing to work on solving real problems in accordance with mainstream economics (like 50 million Americans without health insurance and Chinese currency manipulation), not just fictituous ones (like declining dollar and government spending money on Departments of Energy and Education). Barack Obama, for example. I’d vote for Paul Krugman if he was on the ballot.

getting rid of things (IRS, etc) that may cause headaches in the short run if it means we will be better off in the long run.

I’d agree about getting rid of something if we had examples of other countries managing without it.
Unfortunately, every single developed country in the world, from Finland to Australia, has its equivalent of the IRS and the Federal Reserve.

[Eugene]

It didn’t seem all that successful according the contributors on the Wiki.

They have successfully devalued the dollar by 50%, improved current account deficit and competitiveness of American products, and it did not lead to the collapse of the American empire.

my question is…if not RP, then who?

Someone who’s willing to work on solving real problems in accordance with mainstream economics (like 50 million Americans without health insurance and Chinese currency manipulation), not just fictituous ones (like declining dollar and government spending money on Departments of Energy and Education). Barack Obama, for example. I’d vote for Paul Krugman if he was on the ballot.

getting rid of things (IRS, etc) that may cause headaches in the short run if it means we will be better off in the long run.

I’d agree about getting rid of something if we had examples of other countries managing without it.
Unfortunately, every single developed country in the world, from Finland to Australia, has its equivalent of the IRS and the Federal Reserve.

[Eugene]

It didn’t seem all that successful according the contributors on the Wiki.

They have successfully devalued the dollar by 50%, improved current account deficit and competitiveness of American products, and it did not lead to the collapse of the American empire.

my question is…if not RP, then who?

Someone who’s willing to work on solving real problems in accordance with mainstream economics (like 50 million Americans without health insurance and Chinese currency manipulation), not just fictituous ones (like declining dollar and government spending money on Departments of Energy and Education). Barack Obama, for example. I’d vote for Paul Krugman if he was on the ballot.

getting rid of things (IRS, etc) that may cause headaches in the short run if it means we will be better off in the long run.

I’d agree about getting rid of something if we had examples of other countries managing without it.
Unfortunately, every single developed country in the world, from Finland to Australia, has its equivalent of the IRS and the Federal Reserve.

[Eugene]

It didn’t seem all that successful according the contributors on the Wiki.

They have successfully devalued the dollar by 50%, improved current account deficit and competitiveness of American products, and it did not lead to the collapse of the American empire.

my question is…if not RP, then who?

Someone who’s willing to work on solving real problems in accordance with mainstream economics (like 50 million Americans without health insurance and Chinese currency manipulation), not just fictituous ones (like declining dollar and government spending money on Departments of Energy and Education). Barack Obama, for example. I’d vote for Paul Krugman if he was on the ballot.

getting rid of things (IRS, etc) that may cause headaches in the short run if it means we will be better off in the long run.

I’d agree about getting rid of something if we had examples of other countries managing without it.
Unfortunately, every single developed country in the world, from Finland to Australia, has its equivalent of the IRS and the Federal Reserve.

[Eugene]

It didn’t seem all that successful according the contributors on the Wiki.

They have successfully devalued the dollar by 50%, improved current account deficit and competitiveness of American products, and it did not lead to the collapse of the American empire.

my question is…if not RP, then who?

Someone who’s willing to work on solving real problems in accordance with mainstream economics (like 50 million Americans without health insurance and Chinese currency manipulation), not just fictituous ones (like declining dollar and government spending money on Departments of Energy and Education). Barack Obama, for example. I’d vote for Paul Krugman if he was on the ballot.

getting rid of things (IRS, etc) that may cause headaches in the short run if it means we will be better off in the long run.

I’d agree about getting rid of something if we had examples of other countries managing without it.
Unfortunately, every single developed country in the world, from Finland to Australia, has its equivalent of the IRS and the Federal Reserve.

[Eugene]

when the currency is destroyed..

Ever heard about Plaza Accord?

[Eugene]

when the currency is destroyed..

Ever heard about Plaza Accord?

[Eugene]

when the currency is destroyed..

Ever heard about Plaza Accord?

[Eugene]

when the currency is destroyed..

Ever heard about Plaza Accord?

[Eugene]

when the currency is destroyed..

Ever heard about Plaza Accord?

[Eugene]

“What do you mean sub-2% ??
There were no 2% SP loans….
The 1%-2% PAY RATES were 7%++ loans that were neg am, and are not covered by Bush/Paulson”

I’m not talking about subprime loans.

If you look at that article, on page 31 it says that 1/3 of all outstanding ARMs in San Diego County (prime and subprime) are “red rate group”, with initial interest rate below 4.0%. The question is, are all these loans neg-am, or was there anything else going on.

[Eugene]

“What do you mean sub-2% ??
There were no 2% SP loans….
The 1%-2% PAY RATES were 7%++ loans that were neg am, and are not covered by Bush/Paulson”

I’m not talking about subprime loans.

If you look at that article, on page 31 it says that 1/3 of all outstanding ARMs in San Diego County (prime and subprime) are “red rate group”, with initial interest rate below 4.0%. The question is, are all these loans neg-am, or was there anything else going on.

[Eugene]

“What do you mean sub-2% ??
There were no 2% SP loans….
The 1%-2% PAY RATES were 7%++ loans that were neg am, and are not covered by Bush/Paulson”

I’m not talking about subprime loans.

If you look at that article, on page 31 it says that 1/3 of all outstanding ARMs in San Diego County (prime and subprime) are “red rate group”, with initial interest rate below 4.0%. The question is, are all these loans neg-am, or was there anything else going on.

[Author]

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