[SD Realtor]

An interesting side note… someone asked me to look into a property that was sold at a trustee sale recently. I called the lender to find out if/when it would be farmed out to a broker to market it the property on the MLS. The lender said it would not be and would be sent straight to auction. They indicated they are doing this with more properties.

SD Realtor

[SD Realtor]

An interesting side note… someone asked me to look into a property that was sold at a trustee sale recently. I called the lender to find out if/when it would be farmed out to a broker to market it the property on the MLS. The lender said it would not be and would be sent straight to auction. They indicated they are doing this with more properties.

SD Realtor

[SD Realtor]

PC – Also to add… my sentiment is weighted heavily to detached homes, not condos.

hedge hedge hedge…

SD Realtor

[SD Realtor]

PC – Also to add… my sentiment is weighted heavily to detached homes, not condos.

hedge hedge hedge…

SD Realtor

[SD Realtor]

PC – Also to add… my sentiment is weighted heavily to detached homes, not condos.

hedge hedge hedge…

SD Realtor

[SD Realtor]

Thanks PC –

Again to make my stance clear, I do indeed feel everywhere will drop… Your example is crystal clear to me and I agree…

As you know I am no stranger to eating humble pie and will be the first one to say I am wrong if I miss the call on this. (and the way things are looking, this may be!)

I just think that the variance in the depreciation will be there for reasons I have stuck with and written before. You are a tough debate because you stick with rationale and are never emotional on topics. Also I do not lump places like 4S or even CV into the places that will not take some of the hardest hits. I think those will indeed get fairly pounded towards the backend of the cycle.

SD Realtor

[SD Realtor]

Thanks PC –

Again to make my stance clear, I do indeed feel everywhere will drop… Your example is crystal clear to me and I agree…

As you know I am no stranger to eating humble pie and will be the first one to say I am wrong if I miss the call on this. (and the way things are looking, this may be!)

I just think that the variance in the depreciation will be there for reasons I have stuck with and written before. You are a tough debate because you stick with rationale and are never emotional on topics. Also I do not lump places like 4S or even CV into the places that will not take some of the hardest hits. I think those will indeed get fairly pounded towards the backend of the cycle.

SD Realtor

[SD Realtor]

Thanks PC –

Again to make my stance clear, I do indeed feel everywhere will drop… Your example is crystal clear to me and I agree…

As you know I am no stranger to eating humble pie and will be the first one to say I am wrong if I miss the call on this. (and the way things are looking, this may be!)

I just think that the variance in the depreciation will be there for reasons I have stuck with and written before. You are a tough debate because you stick with rationale and are never emotional on topics. Also I do not lump places like 4S or even CV into the places that will not take some of the hardest hits. I think those will indeed get fairly pounded towards the backend of the cycle.

SD Realtor

[SD Realtor]

davidt welcome to the board. Have a thick skin and you will be okay.

Someone may have already mentioned this and I know we have had several posts on this as well.

For now, forget about who originated the loan. The entity servicing the loan is more important. Chances are like 99.999% that the original loan was sold. It was then bundled up and securitized and resold. The original terms of the loan are what makes it attractive to investors so that they get a return. The entity servicing the loan may not be able to change the terms of the loan such as the reset date, or the margin in the new rate. I am not knowledgeable enough to answer the question thoroughly. By altering the terms of the original loan, the entity servicing it may incur substantial liability to the entity that bought the security.

An earlier post in the thread brought up a good point that the possibility should be entertained. How would things be affected if there was a widespread rewriting or altering of the loans. It is hard for me to wrap my arms around how that can happen as there has been so much reselling, leveraging, and shuffling the decks of the tranches… It is worthy of discussion but I just don’t see how it can happen. You see what I mean? The underlying mortgage for the homeowner is Lemon Grove who is about to get reset is all over the place now. Even Wall St may not know where the heck it is…

I think what you are seeing right now is interesting. Wall St is trying to inject money straight into the funds to prop them up. They are not changing the rate of return on them.

Once more, we had a poster awhile ago who worked in loss mitigation and he had some better insights into this.

SD Realtor

[SD Realtor]

davidt welcome to the board. Have a thick skin and you will be okay.

Someone may have already mentioned this and I know we have had several posts on this as well.

For now, forget about who originated the loan. The entity servicing the loan is more important. Chances are like 99.999% that the original loan was sold. It was then bundled up and securitized and resold. The original terms of the loan are what makes it attractive to investors so that they get a return. The entity servicing the loan may not be able to change the terms of the loan such as the reset date, or the margin in the new rate. I am not knowledgeable enough to answer the question thoroughly. By altering the terms of the original loan, the entity servicing it may incur substantial liability to the entity that bought the security.

An earlier post in the thread brought up a good point that the possibility should be entertained. How would things be affected if there was a widespread rewriting or altering of the loans. It is hard for me to wrap my arms around how that can happen as there has been so much reselling, leveraging, and shuffling the decks of the tranches… It is worthy of discussion but I just don’t see how it can happen. You see what I mean? The underlying mortgage for the homeowner is Lemon Grove who is about to get reset is all over the place now. Even Wall St may not know where the heck it is…

I think what you are seeing right now is interesting. Wall St is trying to inject money straight into the funds to prop them up. They are not changing the rate of return on them.

Once more, we had a poster awhile ago who worked in loss mitigation and he had some better insights into this.

SD Realtor

[SD Realtor]

davidt welcome to the board. Have a thick skin and you will be okay.

Someone may have already mentioned this and I know we have had several posts on this as well.

For now, forget about who originated the loan. The entity servicing the loan is more important. Chances are like 99.999% that the original loan was sold. It was then bundled up and securitized and resold. The original terms of the loan are what makes it attractive to investors so that they get a return. The entity servicing the loan may not be able to change the terms of the loan such as the reset date, or the margin in the new rate. I am not knowledgeable enough to answer the question thoroughly. By altering the terms of the original loan, the entity servicing it may incur substantial liability to the entity that bought the security.

An earlier post in the thread brought up a good point that the possibility should be entertained. How would things be affected if there was a widespread rewriting or altering of the loans. It is hard for me to wrap my arms around how that can happen as there has been so much reselling, leveraging, and shuffling the decks of the tranches… It is worthy of discussion but I just don’t see how it can happen. You see what I mean? The underlying mortgage for the homeowner is Lemon Grove who is about to get reset is all over the place now. Even Wall St may not know where the heck it is…

I think what you are seeing right now is interesting. Wall St is trying to inject money straight into the funds to prop them up. They are not changing the rate of return on them.

Once more, we had a poster awhile ago who worked in loss mitigation and he had some better insights into this.

SD Realtor

[SD Realtor]

I agree lending… It is irresponsible journalism…Stuff like this stinks and the authors have no accountability whatsoever.

SD Realtor

[SD Realtor]

I agree lending… It is irresponsible journalism…Stuff like this stinks and the authors have no accountability whatsoever.

SD Realtor

[SD Realtor]

I agree lending… It is irresponsible journalism…Stuff like this stinks and the authors have no accountability whatsoever.

SD Realtor

[SD Realtor]

This is a good map. I am still contending that desireable areas with good school districts and a substantial poipulation of homeowners with high equity stakes will not be hit as hard as other areas. I am not sure that I ever read that any posters said that any areas were immune to drops at all.

Also looking at the map, I see a high concentration of properties in UTC. I also see another small concentration at Sea Haus. I would be more then happy to analyze the locations and housing types of the other marks on the map if you like.

I am not saying homes are not going to foreclose in La Jolla, please do not get me wrong. There will be more, and it will go down. Also I heading to Mission Hills, one of the areas you mentioned in about an hour to explain to a frustrated homeowner why her little 2/1 cottage will not sell for 800 a sq ft.

I am just trying to provide a more introspective analysis of the data you provided.

SD Realtor

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