[HLS]

The biggest danger is a REAL collapse in prices, to the order of 50%-70%, when tens of thousands of “homeowners” with high credit scores say screw it, my score isn’t worth the $300,000-$500,000 that I am upside down.

NON-recourse debt for primary residences has been extended nationwide to refi’s if no cash was taken out as well as purchase loans.
Presidente signed the bill right before Christmas, but it got little coverage. It encourages FC’s ~!!

Call it immoral, call it moral hazard, call it what you want. Banks are writing down (and off) BILLIONS, and Paulsen tells FB’s to honor their loans ??
WHAT A SNAKE..protecting his buddies…

There is little that will cause prices to rise rapidly over the next 10+ years, and prices by 2015 are unlikely to be back to 2005 levels IMO. (in bubble areas)

The trading of mortgages at a discount DOESN’T affect the selling price of a house… On the rolls, a house that was purchased for 700,000 will show that as last sale, but few will know that the mortgage was sold for 50c on the dollar. (or less) and the borrower’s payment was cut 40%, still a good return for the bottom feeder..

Whatever the govt can do to keep people in homes and paying is their goal. It’s one less FC that will be empty and trade hands at a greatly reduced amount, which reduces the number of comps etc.

Better to keep people in that house and paying with an artificial propped up value, than having to admit it’s value is 30%-40% less, affecting entire neighborhoods and dragging down property tax income as well….

To avoid having to “mark to market” homes is the goal, and avoid millions from walking away becuse it just makes sense.

[HLS]

The biggest danger is a REAL collapse in prices, to the order of 50%-70%, when tens of thousands of “homeowners” with high credit scores say screw it, my score isn’t worth the $300,000-$500,000 that I am upside down.

NON-recourse debt for primary residences has been extended nationwide to refi’s if no cash was taken out as well as purchase loans.
Presidente signed the bill right before Christmas, but it got little coverage. It encourages FC’s ~!!

Call it immoral, call it moral hazard, call it what you want. Banks are writing down (and off) BILLIONS, and Paulsen tells FB’s to honor their loans ??
WHAT A SNAKE..protecting his buddies…

There is little that will cause prices to rise rapidly over the next 10+ years, and prices by 2015 are unlikely to be back to 2005 levels IMO. (in bubble areas)

The trading of mortgages at a discount DOESN’T affect the selling price of a house… On the rolls, a house that was purchased for 700,000 will show that as last sale, but few will know that the mortgage was sold for 50c on the dollar. (or less) and the borrower’s payment was cut 40%, still a good return for the bottom feeder..

Whatever the govt can do to keep people in homes and paying is their goal. It’s one less FC that will be empty and trade hands at a greatly reduced amount, which reduces the number of comps etc.

Better to keep people in that house and paying with an artificial propped up value, than having to admit it’s value is 30%-40% less, affecting entire neighborhoods and dragging down property tax income as well….

To avoid having to “mark to market” homes is the goal, and avoid millions from walking away becuse it just makes sense.

[HLS]

Quite frankly,, that’s what I’d like to know too!!

I have been aware of “bulk purchases” by large institutions that were buying hundreds of loans at a time for lenders to clear their books, but we’re talking into the tens of millions of dollars at a time, and they had to take the good with the bad.

Before posting this, I had never seen a story on an individual that could pick and choose single loans at anywhere near 20c on the dollar.
This seems to good to be true…

Perhaps someone knows this guy around town ??
Seeme like there would be more than he can handle.

I would think that calling a lender and saying that I want to buy a few non performing loans for 20c on the dollar would get laughed at BUT what do I know….

I’d do it in a heartbeat if I knew who to call…

[HLS]

Quite frankly,, that’s what I’d like to know too!!

I have been aware of “bulk purchases” by large institutions that were buying hundreds of loans at a time for lenders to clear their books, but we’re talking into the tens of millions of dollars at a time, and they had to take the good with the bad.

Before posting this, I had never seen a story on an individual that could pick and choose single loans at anywhere near 20c on the dollar.
This seems to good to be true…

Perhaps someone knows this guy around town ??
Seeme like there would be more than he can handle.

I would think that calling a lender and saying that I want to buy a few non performing loans for 20c on the dollar would get laughed at BUT what do I know….

I’d do it in a heartbeat if I knew who to call…

[HLS]

Quite frankly,, that’s what I’d like to know too!!

I have been aware of “bulk purchases” by large institutions that were buying hundreds of loans at a time for lenders to clear their books, but we’re talking into the tens of millions of dollars at a time, and they had to take the good with the bad.

Before posting this, I had never seen a story on an individual that could pick and choose single loans at anywhere near 20c on the dollar.
This seems to good to be true…

Perhaps someone knows this guy around town ??
Seeme like there would be more than he can handle.

I would think that calling a lender and saying that I want to buy a few non performing loans for 20c on the dollar would get laughed at BUT what do I know….

I’d do it in a heartbeat if I knew who to call…

[HLS]

Quite frankly,, that’s what I’d like to know too!!

I have been aware of “bulk purchases” by large institutions that were buying hundreds of loans at a time for lenders to clear their books, but we’re talking into the tens of millions of dollars at a time, and they had to take the good with the bad.

Before posting this, I had never seen a story on an individual that could pick and choose single loans at anywhere near 20c on the dollar.
This seems to good to be true…

Perhaps someone knows this guy around town ??
Seeme like there would be more than he can handle.

I would think that calling a lender and saying that I want to buy a few non performing loans for 20c on the dollar would get laughed at BUT what do I know….

I’d do it in a heartbeat if I knew who to call…

[HLS]

Quite frankly,, that’s what I’d like to know too!!

I have been aware of “bulk purchases” by large institutions that were buying hundreds of loans at a time for lenders to clear their books, but we’re talking into the tens of millions of dollars at a time, and they had to take the good with the bad.

Before posting this, I had never seen a story on an individual that could pick and choose single loans at anywhere near 20c on the dollar.
This seems to good to be true…

Perhaps someone knows this guy around town ??
Seeme like there would be more than he can handle.

I would think that calling a lender and saying that I want to buy a few non performing loans for 20c on the dollar would get laughed at BUT what do I know….

I’d do it in a heartbeat if I knew who to call…

[HLS]

Here is a link to the READER with 98 different coupons for SD eating joints,, from buffets to higher end and in between.

http://www.sandiegoreader.com/coupons/?634197

Just print and use…

FLU,, Chinese NON-buffet …
Have you heard of or been to:
China Max 4698 Convoy St. @ Engineer Rd, (Kearny Mesa)
was told that it’s very good…

[HLS]

Here is a link to the READER with 98 different coupons for SD eating joints,, from buffets to higher end and in between.

http://www.sandiegoreader.com/coupons/?634197

Just print and use…

FLU,, Chinese NON-buffet …
Have you heard of or been to:
China Max 4698 Convoy St. @ Engineer Rd, (Kearny Mesa)
was told that it’s very good…

[HLS]

Here is a link to the READER with 98 different coupons for SD eating joints,, from buffets to higher end and in between.

http://www.sandiegoreader.com/coupons/?634197

Just print and use…

FLU,, Chinese NON-buffet …
Have you heard of or been to:
China Max 4698 Convoy St. @ Engineer Rd, (Kearny Mesa)
was told that it’s very good…

[HLS]

Here is a link to the READER with 98 different coupons for SD eating joints,, from buffets to higher end and in between.

http://www.sandiegoreader.com/coupons/?634197

Just print and use…

FLU,, Chinese NON-buffet …
Have you heard of or been to:
China Max 4698 Convoy St. @ Engineer Rd, (Kearny Mesa)
was told that it’s very good…

[HLS]

Here is a link to the READER with 98 different coupons for SD eating joints,, from buffets to higher end and in between.

http://www.sandiegoreader.com/coupons/?634197

Just print and use…

FLU,, Chinese NON-buffet …
Have you heard of or been to:
China Max 4698 Convoy St. @ Engineer Rd, (Kearny Mesa)
was told that it’s very good…

[HLS]

San Diego Reader keeps a pretty good list of places and ads.

I have seen one advertised as the largest in SD on Mira Mesa Blvd It’s called either East or West, (I forget)

There’s another one in PB on Garnet called Great Moon or something…

There is an interesting THAI buffet on Clairemont Mesa (just west of 805) that I have eaten at, it’s around $10

And there are two interesting Greek Buffets,
Greek Town in El Cajon and Zorba’s in Chula Vista.

In North County, San Marcos, Vista & Oceanside have them too.

Murrieta has a pretty good Chinese seafood buffet with the best Sushi selection that I have ever seen other than at a Japanese buffet.

The problem with buffets is unless you go when they are busy and food stays fresh, once certian dishes have sat for more than 3-5 minutes, the quality diminishes.

I’ve eaten at Zorba’s for lunch and thought it was great. They were very busy and the food was fresh.

[HLS]

San Diego Reader keeps a pretty good list of places and ads.

I have seen one advertised as the largest in SD on Mira Mesa Blvd It’s called either East or West, (I forget)

There’s another one in PB on Garnet called Great Moon or something…

There is an interesting THAI buffet on Clairemont Mesa (just west of 805) that I have eaten at, it’s around $10

And there are two interesting Greek Buffets,
Greek Town in El Cajon and Zorba’s in Chula Vista.

In North County, San Marcos, Vista & Oceanside have them too.

Murrieta has a pretty good Chinese seafood buffet with the best Sushi selection that I have ever seen other than at a Japanese buffet.

The problem with buffets is unless you go when they are busy and food stays fresh, once certian dishes have sat for more than 3-5 minutes, the quality diminishes.

I’ve eaten at Zorba’s for lunch and thought it was great. They were very busy and the food was fresh.

[HLS]

San Diego Reader keeps a pretty good list of places and ads.

I have seen one advertised as the largest in SD on Mira Mesa Blvd It’s called either East or West, (I forget)

There’s another one in PB on Garnet called Great Moon or something…

There is an interesting THAI buffet on Clairemont Mesa (just west of 805) that I have eaten at, it’s around $10

And there are two interesting Greek Buffets,
Greek Town in El Cajon and Zorba’s in Chula Vista.

In North County, San Marcos, Vista & Oceanside have them too.

Murrieta has a pretty good Chinese seafood buffet with the best Sushi selection that I have ever seen other than at a Japanese buffet.

The problem with buffets is unless you go when they are busy and food stays fresh, once certian dishes have sat for more than 3-5 minutes, the quality diminishes.

I’ve eaten at Zorba’s for lunch and thought it was great. They were very busy and the food was fresh.

[Author]

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