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peterb
ParticipantThe latest Mr Mortgage take on REO activity:
http://www.fieldcheckgroup.com/2009/05/08/5-7-mark-hanson-special-reo-investor-report/peterb
ParticipantThe latest Mr Mortgage take on REO activity:
http://www.fieldcheckgroup.com/2009/05/08/5-7-mark-hanson-special-reo-investor-report/peterb
ParticipantThe latest Mr Mortgage take on REO activity:
http://www.fieldcheckgroup.com/2009/05/08/5-7-mark-hanson-special-reo-investor-report/peterb
ParticipantAfter talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.peterb
ParticipantAfter talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.peterb
ParticipantAfter talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.peterb
ParticipantAfter talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.peterb
ParticipantAfter talking to a lot of people out there, it sounds like financing is really tricky due to the pressure lenders are putting on appraisers to be very conservative. This in itself is a downward force on the product that does get sold.
This market is into completely uncharted water right now. Things going on and govt intervention I would never have believed would happen. In 2007 I knew it would get hammered, but nothing like this. This is really different than other recessionary events in the CA RE environment. This is incredibly desperate behavior, I dont see it ending well.peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
peterb
ParticipantNOD’s dont have to turn into NOT’s, but there’s a lot of factors that make the odds very high that most will. There seems to be ways to avoid the next moratorium. (Home owner waives there decision to do a loan mod via fdic rules.) And the removal of M2M would allow sales of foreclosures to not effect the existing loan portfolio valuation. If these things are correct, banks would probably be significantly increasing their foreclosure acitivity in the near future.
peterb
ParticipantIf you’re a net debtor, you hate deflation. Paying back a debt with more costly money makes paying it back more difficult and it takes more of your resources to do so, at a time when you’re probably collecting less revenue as well…think state and local govt. The govt is the biggest debtor. They dont want deflation. But it remains to be seen whether or not they will get their wish. Savers and holders of money benefit the most from deflation.
I think a very likely scenario will be that all these unemployed people will probably be less likely to pay their car loans, credit card loans, student loans and mortgages,etc.. as they remain unemployed. This will fuel another wave of defaults. And we’re back on the deflation cycle once more.
I think it’s a very important thing to consider where employment will be growing to fuel an economic recovery. Next month over 100K college grads will be looking for work as well as the all the unemployed we’ve been racking up for the last 6 months…and continue to add to the ranks. -
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