[SD Realtor]

I think it is a bit of an oversimplification of the assignment of blame. Obviously every case is different and while most would assume a delinquent homeowner stops paying both lenders at the same time, it is not a given.

I think what is missed in your analysis bearish is the importance of what has or has not already been written off. That is, if the second already has written the loan off then what do they care if the home forecloses or not. Lets say there are 20 portfolios written off. In my opinion this has much more bearing on the attitude of the second. Furthermore what you did not mention was the payoff from the first. Take a 400k payoff. Say the first was a 550k loan and the second was 90k. Now the home sells for 430k and after closing there is 400k left. So the first offers 3k to the second and keeps the 397k. So why wouldn’t the second try to get more? Now if they use this strategy on 20 portfolios will they get more by playing hardball rather then rolling over for 3k on each one? Obviously there stats show that the answer is yes.

Anyways yes the total blame does fall on the first but it doesn’t matter if the first forecloses quick or not, the second still needs to release the lien. Perhaps if banks were not all bloated with bailout money seconds would not be playing so much hardball eh?

There is plenty of blame to go around for all parties. I had a short sale once upon a time and the first was Wells Fargo Bank and the second was Wells Home Equity and the whole thing almost crashed and burned because Wells Bank would not give Wells Home Equity more then 3k. It is a joke but a very sad joke.

[SD Realtor]

I think it is a bit of an oversimplification of the assignment of blame. Obviously every case is different and while most would assume a delinquent homeowner stops paying both lenders at the same time, it is not a given.

I think what is missed in your analysis bearish is the importance of what has or has not already been written off. That is, if the second already has written the loan off then what do they care if the home forecloses or not. Lets say there are 20 portfolios written off. In my opinion this has much more bearing on the attitude of the second. Furthermore what you did not mention was the payoff from the first. Take a 400k payoff. Say the first was a 550k loan and the second was 90k. Now the home sells for 430k and after closing there is 400k left. So the first offers 3k to the second and keeps the 397k. So why wouldn’t the second try to get more? Now if they use this strategy on 20 portfolios will they get more by playing hardball rather then rolling over for 3k on each one? Obviously there stats show that the answer is yes.

Anyways yes the total blame does fall on the first but it doesn’t matter if the first forecloses quick or not, the second still needs to release the lien. Perhaps if banks were not all bloated with bailout money seconds would not be playing so much hardball eh?

There is plenty of blame to go around for all parties. I had a short sale once upon a time and the first was Wells Fargo Bank and the second was Wells Home Equity and the whole thing almost crashed and burned because Wells Bank would not give Wells Home Equity more then 3k. It is a joke but a very sad joke.

[SD Realtor]

I think it is a bit of an oversimplification of the assignment of blame. Obviously every case is different and while most would assume a delinquent homeowner stops paying both lenders at the same time, it is not a given.

I think what is missed in your analysis bearish is the importance of what has or has not already been written off. That is, if the second already has written the loan off then what do they care if the home forecloses or not. Lets say there are 20 portfolios written off. In my opinion this has much more bearing on the attitude of the second. Furthermore what you did not mention was the payoff from the first. Take a 400k payoff. Say the first was a 550k loan and the second was 90k. Now the home sells for 430k and after closing there is 400k left. So the first offers 3k to the second and keeps the 397k. So why wouldn’t the second try to get more? Now if they use this strategy on 20 portfolios will they get more by playing hardball rather then rolling over for 3k on each one? Obviously there stats show that the answer is yes.

Anyways yes the total blame does fall on the first but it doesn’t matter if the first forecloses quick or not, the second still needs to release the lien. Perhaps if banks were not all bloated with bailout money seconds would not be playing so much hardball eh?

There is plenty of blame to go around for all parties. I had a short sale once upon a time and the first was Wells Fargo Bank and the second was Wells Home Equity and the whole thing almost crashed and burned because Wells Bank would not give Wells Home Equity more then 3k. It is a joke but a very sad joke.

[SD Realtor]

I think it is a bit of an oversimplification of the assignment of blame. Obviously every case is different and while most would assume a delinquent homeowner stops paying both lenders at the same time, it is not a given.

I think what is missed in your analysis bearish is the importance of what has or has not already been written off. That is, if the second already has written the loan off then what do they care if the home forecloses or not. Lets say there are 20 portfolios written off. In my opinion this has much more bearing on the attitude of the second. Furthermore what you did not mention was the payoff from the first. Take a 400k payoff. Say the first was a 550k loan and the second was 90k. Now the home sells for 430k and after closing there is 400k left. So the first offers 3k to the second and keeps the 397k. So why wouldn’t the second try to get more? Now if they use this strategy on 20 portfolios will they get more by playing hardball rather then rolling over for 3k on each one? Obviously there stats show that the answer is yes.

Anyways yes the total blame does fall on the first but it doesn’t matter if the first forecloses quick or not, the second still needs to release the lien. Perhaps if banks were not all bloated with bailout money seconds would not be playing so much hardball eh?

There is plenty of blame to go around for all parties. I had a short sale once upon a time and the first was Wells Fargo Bank and the second was Wells Home Equity and the whole thing almost crashed and burned because Wells Bank would not give Wells Home Equity more then 3k. It is a joke but a very sad joke.

[SD Realtor]

Rus I am not sure what you think flipping entails but it takes lots of fuel to drive around and in some cases plenty of building materials. So costs go up for flippers in an environment like this. If you have to hold a property that has an hoa, last I checked hoa fees are rising.

Anyone out there who has an hoa where fees are reduced lately? Hello? Anyone home?

Rents have been stable but certainly not increasing for my particular rentals either. Once more being a landlord usually includes buying material now and then. When your home is vacant you pay utilities. Have utilities gone down at all?

Rus have real estate commissions gone up lately?

[SD Realtor]

Rus I am not sure what you think flipping entails but it takes lots of fuel to drive around and in some cases plenty of building materials. So costs go up for flippers in an environment like this. If you have to hold a property that has an hoa, last I checked hoa fees are rising.

Anyone out there who has an hoa where fees are reduced lately? Hello? Anyone home?

Rents have been stable but certainly not increasing for my particular rentals either. Once more being a landlord usually includes buying material now and then. When your home is vacant you pay utilities. Have utilities gone down at all?

Rus have real estate commissions gone up lately?

[SD Realtor]

Rus I am not sure what you think flipping entails but it takes lots of fuel to drive around and in some cases plenty of building materials. So costs go up for flippers in an environment like this. If you have to hold a property that has an hoa, last I checked hoa fees are rising.

Anyone out there who has an hoa where fees are reduced lately? Hello? Anyone home?

Rents have been stable but certainly not increasing for my particular rentals either. Once more being a landlord usually includes buying material now and then. When your home is vacant you pay utilities. Have utilities gone down at all?

Rus have real estate commissions gone up lately?

[SD Realtor]

Rus I am not sure what you think flipping entails but it takes lots of fuel to drive around and in some cases plenty of building materials. So costs go up for flippers in an environment like this. If you have to hold a property that has an hoa, last I checked hoa fees are rising.

Anyone out there who has an hoa where fees are reduced lately? Hello? Anyone home?

Rents have been stable but certainly not increasing for my particular rentals either. Once more being a landlord usually includes buying material now and then. When your home is vacant you pay utilities. Have utilities gone down at all?

Rus have real estate commissions gone up lately?

[SD Realtor]

Rus I am not sure what you think flipping entails but it takes lots of fuel to drive around and in some cases plenty of building materials. So costs go up for flippers in an environment like this. If you have to hold a property that has an hoa, last I checked hoa fees are rising.

Anyone out there who has an hoa where fees are reduced lately? Hello? Anyone home?

Rents have been stable but certainly not increasing for my particular rentals either. Once more being a landlord usually includes buying material now and then. When your home is vacant you pay utilities. Have utilities gone down at all?

Rus have real estate commissions gone up lately?

[SD Realtor]

I have complete faith in your analysis Brian. You seem to know it all. Your correct, my food bills rising and fuel bills increasing must all be a mirage. Really the dollar has not gone down at all in the past year or two. Really there is no currency war at all and foreign countries are now not trying to run the dollar up against our strategy to bring the dollar down.

Keep posting your analysis because at this point it is pretty comical.

[SD Realtor]

I have complete faith in your analysis Brian. You seem to know it all. Your correct, my food bills rising and fuel bills increasing must all be a mirage. Really the dollar has not gone down at all in the past year or two. Really there is no currency war at all and foreign countries are now not trying to run the dollar up against our strategy to bring the dollar down.

Keep posting your analysis because at this point it is pretty comical.

[SD Realtor]

I have complete faith in your analysis Brian. You seem to know it all. Your correct, my food bills rising and fuel bills increasing must all be a mirage. Really the dollar has not gone down at all in the past year or two. Really there is no currency war at all and foreign countries are now not trying to run the dollar up against our strategy to bring the dollar down.

Keep posting your analysis because at this point it is pretty comical.

[SD Realtor]

I have complete faith in your analysis Brian. You seem to know it all. Your correct, my food bills rising and fuel bills increasing must all be a mirage. Really the dollar has not gone down at all in the past year or two. Really there is no currency war at all and foreign countries are now not trying to run the dollar up against our strategy to bring the dollar down.

Keep posting your analysis because at this point it is pretty comical.

[SD Realtor]

I have complete faith in your analysis Brian. You seem to know it all. Your correct, my food bills rising and fuel bills increasing must all be a mirage. Really the dollar has not gone down at all in the past year or two. Really there is no currency war at all and foreign countries are now not trying to run the dollar up against our strategy to bring the dollar down.

Keep posting your analysis because at this point it is pretty comical.

[SD Realtor]

Hi CAR,

Sorry to hear you guys fell out. Tough call on the predators issue. At our home in Talmadge, if you check the website there are alot of undesireables not far away as well. We went through with it anyways but we also knew we would not be raising our kids there.

[Author]

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