Forum Replies Created
-
AuthorPosts
-
JerseyGrl
ParticipantToots
Per zillow, it looks like this house grew from 1100 sq ft to 4200 sq ft. That’s quite a remodel/addition!
ParticipantToots
Per zillow, it looks like this house grew from 1100 sq ft to 4200 sq ft. That’s quite a remodel/addition!
ParticipantToots
essentially, a very thin slice of bitter debtors are eligible………probably soFrom http://globaleconomicanalysis.blogspot.com/2007/12/paulsons-plan-is-nothing-but-lip.html
“The homeowner bailout sounds a lot better in the headlines than it does when you dig deeper. For instance, HomEq reports that for every 5,000 resets that come in every month, only 1,000 meet standards to even begin loan modification, and of those only 10% of borrowers actually begin the process. That’s 2% of all borrowers undergoing resets.
One of the problems is that in many cases, a W2 is required, and many of these homeowners are reluctant to provide one since they presumably lied about their income to qualify for a mortgage. Still others are in trouble not because of the reset, but because they can’t even afford their teaser rate. Many in foreclosure won’t pick up the phone when contacts are attempted from lenders.”
ParticipantToots
essentially, a very thin slice of bitter debtors are eligible………probably soFrom http://globaleconomicanalysis.blogspot.com/2007/12/paulsons-plan-is-nothing-but-lip.html
“The homeowner bailout sounds a lot better in the headlines than it does when you dig deeper. For instance, HomEq reports that for every 5,000 resets that come in every month, only 1,000 meet standards to even begin loan modification, and of those only 10% of borrowers actually begin the process. That’s 2% of all borrowers undergoing resets.
One of the problems is that in many cases, a W2 is required, and many of these homeowners are reluctant to provide one since they presumably lied about their income to qualify for a mortgage. Still others are in trouble not because of the reset, but because they can’t even afford their teaser rate. Many in foreclosure won’t pick up the phone when contacts are attempted from lenders.”
ParticipantToots
essentially, a very thin slice of bitter debtors are eligible………probably soFrom http://globaleconomicanalysis.blogspot.com/2007/12/paulsons-plan-is-nothing-but-lip.html
“The homeowner bailout sounds a lot better in the headlines than it does when you dig deeper. For instance, HomEq reports that for every 5,000 resets that come in every month, only 1,000 meet standards to even begin loan modification, and of those only 10% of borrowers actually begin the process. That’s 2% of all borrowers undergoing resets.
One of the problems is that in many cases, a W2 is required, and many of these homeowners are reluctant to provide one since they presumably lied about their income to qualify for a mortgage. Still others are in trouble not because of the reset, but because they can’t even afford their teaser rate. Many in foreclosure won’t pick up the phone when contacts are attempted from lenders.”
ParticipantToots
essentially, a very thin slice of bitter debtors are eligible………probably soFrom http://globaleconomicanalysis.blogspot.com/2007/12/paulsons-plan-is-nothing-but-lip.html
“The homeowner bailout sounds a lot better in the headlines than it does when you dig deeper. For instance, HomEq reports that for every 5,000 resets that come in every month, only 1,000 meet standards to even begin loan modification, and of those only 10% of borrowers actually begin the process. That’s 2% of all borrowers undergoing resets.
One of the problems is that in many cases, a W2 is required, and many of these homeowners are reluctant to provide one since they presumably lied about their income to qualify for a mortgage. Still others are in trouble not because of the reset, but because they can’t even afford their teaser rate. Many in foreclosure won’t pick up the phone when contacts are attempted from lenders.”
ParticipantToots
essentially, a very thin slice of bitter debtors are eligible………probably soFrom http://globaleconomicanalysis.blogspot.com/2007/12/paulsons-plan-is-nothing-but-lip.html
“The homeowner bailout sounds a lot better in the headlines than it does when you dig deeper. For instance, HomEq reports that for every 5,000 resets that come in every month, only 1,000 meet standards to even begin loan modification, and of those only 10% of borrowers actually begin the process. That’s 2% of all borrowers undergoing resets.
One of the problems is that in many cases, a W2 is required, and many of these homeowners are reluctant to provide one since they presumably lied about their income to qualify for a mortgage. Still others are in trouble not because of the reset, but because they can’t even afford their teaser rate. Many in foreclosure won’t pick up the phone when contacts are attempted from lenders.”
ParticipantToots
I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!
We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?
Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.
ParticipantToots
I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!
We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?
Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.
ParticipantToots
I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!
We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?
Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.
ParticipantToots
I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!
We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?
Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.
ParticipantToots
I have seen some insanity here in 92104 in the last four years, but 800K for the stucco house across the street just plain got me angry. The sellers paid 650K for it two year ago, and when they listed it for sale in May I thought they’d be lucky to get what they paid for it. Low and behold, 805K!!!
We are renting an equivalent home for 1995/month. Most of the people on this block paid about 150K for these homes 10 years ago. When are buyers going to catch on that 500-800K for these homes is insane? Our next door neighbor (who bought his home 7 years ago) says we should buy because interest rates are so low. Duh?
Some parts of Normal Heights are even worse than North Park. There’s some funky streets/yucky houses in 92116 too.
ParticipantToots
Wow, thanks for that information Radelow. The couple living in the house don’t look like they have 800K to spend on a house (they’re very young).
It still begs the question why would anyone spend that much for a crummy little house in North Park? 800K would get you a much nicer house almost anywhere in SD county. For that much money you’d think you’d get at least 2 bathrooms!!!
ParticipantToots
Wow, thanks for that information Radelow. The couple living in the house don’t look like they have 800K to spend on a house (they’re very young).
It still begs the question why would anyone spend that much for a crummy little house in North Park? 800K would get you a much nicer house almost anywhere in SD county. For that much money you’d think you’d get at least 2 bathrooms!!!
-
AuthorPosts
