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SD Realtor
ParticipantHi 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.
SD Realtor
ParticipantHi 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.
SD Realtor
ParticipantHi 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.
November 9, 2010 at 7:12 AM in reply to: What makes some properties get foreclosed on more than others… #628201SD Realtor
Participantheheheh –
No I don’t think the condo is cursed, just another case of lame buyers. The timelines look fine to me and I see nothing wrong with them. In fact this is EXACTLY what is needed.
When the NOD was issued in July of 2000 there was already a 7900 deficiency. The loan was originated by a company called InstaMortgage but no clue who owns the paper. You could trace it through the trustee but it doesn’t matter right?
From the NOD to now is in the proper timeline. Tight but legal. Refreshing to see and definitely not the norm. No there were not moratoria. There were certain institutions that held off voluntarily but that is it. There are also guidelines that must be followed through the process such as trying to do mods, proper notifications, etc, however they do not stop the foreclosure timeline if done properly.
Also note that some people opt out of trying to do mods in a voluntary manner. Also many people do not go to legal centers or lawyers to do the BK route.
We need more like this!
November 9, 2010 at 7:12 AM in reply to: What makes some properties get foreclosed on more than others… #628279SD Realtor
Participantheheheh –
No I don’t think the condo is cursed, just another case of lame buyers. The timelines look fine to me and I see nothing wrong with them. In fact this is EXACTLY what is needed.
When the NOD was issued in July of 2000 there was already a 7900 deficiency. The loan was originated by a company called InstaMortgage but no clue who owns the paper. You could trace it through the trustee but it doesn’t matter right?
From the NOD to now is in the proper timeline. Tight but legal. Refreshing to see and definitely not the norm. No there were not moratoria. There were certain institutions that held off voluntarily but that is it. There are also guidelines that must be followed through the process such as trying to do mods, proper notifications, etc, however they do not stop the foreclosure timeline if done properly.
Also note that some people opt out of trying to do mods in a voluntary manner. Also many people do not go to legal centers or lawyers to do the BK route.
We need more like this!
November 9, 2010 at 7:12 AM in reply to: What makes some properties get foreclosed on more than others… #628847SD Realtor
Participantheheheh –
No I don’t think the condo is cursed, just another case of lame buyers. The timelines look fine to me and I see nothing wrong with them. In fact this is EXACTLY what is needed.
When the NOD was issued in July of 2000 there was already a 7900 deficiency. The loan was originated by a company called InstaMortgage but no clue who owns the paper. You could trace it through the trustee but it doesn’t matter right?
From the NOD to now is in the proper timeline. Tight but legal. Refreshing to see and definitely not the norm. No there were not moratoria. There were certain institutions that held off voluntarily but that is it. There are also guidelines that must be followed through the process such as trying to do mods, proper notifications, etc, however they do not stop the foreclosure timeline if done properly.
Also note that some people opt out of trying to do mods in a voluntary manner. Also many people do not go to legal centers or lawyers to do the BK route.
We need more like this!
November 9, 2010 at 7:12 AM in reply to: What makes some properties get foreclosed on more than others… #628973SD Realtor
Participantheheheh –
No I don’t think the condo is cursed, just another case of lame buyers. The timelines look fine to me and I see nothing wrong with them. In fact this is EXACTLY what is needed.
When the NOD was issued in July of 2000 there was already a 7900 deficiency. The loan was originated by a company called InstaMortgage but no clue who owns the paper. You could trace it through the trustee but it doesn’t matter right?
From the NOD to now is in the proper timeline. Tight but legal. Refreshing to see and definitely not the norm. No there were not moratoria. There were certain institutions that held off voluntarily but that is it. There are also guidelines that must be followed through the process such as trying to do mods, proper notifications, etc, however they do not stop the foreclosure timeline if done properly.
Also note that some people opt out of trying to do mods in a voluntary manner. Also many people do not go to legal centers or lawyers to do the BK route.
We need more like this!
November 9, 2010 at 7:12 AM in reply to: What makes some properties get foreclosed on more than others… #629291SD Realtor
Participantheheheh –
No I don’t think the condo is cursed, just another case of lame buyers. The timelines look fine to me and I see nothing wrong with them. In fact this is EXACTLY what is needed.
When the NOD was issued in July of 2000 there was already a 7900 deficiency. The loan was originated by a company called InstaMortgage but no clue who owns the paper. You could trace it through the trustee but it doesn’t matter right?
From the NOD to now is in the proper timeline. Tight but legal. Refreshing to see and definitely not the norm. No there were not moratoria. There were certain institutions that held off voluntarily but that is it. There are also guidelines that must be followed through the process such as trying to do mods, proper notifications, etc, however they do not stop the foreclosure timeline if done properly.
Also note that some people opt out of trying to do mods in a voluntary manner. Also many people do not go to legal centers or lawyers to do the BK route.
We need more like this!
SD Realtor
ParticipantI cannot express how wary I would be about getting into any loan beyond a fixed rate vehicle at this point in time. WHile many espouse this is a lost decade and interest rates will be low for a long long time, there is not any doubt in my mind that when rates go up, they will go up very high very fast. This then push whatever appreciation that has been made into the tank quickly. This will also cause considerable stress to anyone who gets into any loans that are not fixed rates.
Now I do not really believe that this will happen soon. However could it happen within 5 years? Absolutely no doubt. I think that the timing for a shift in this sort of thing will be somewhat tied to elections. So I could see that sometime in the spring of 2012, no matter who is in office, there could be bigtime problems.
FLU made several good points as usual. I do not think there is a person I know who has made money on every stock purchase, or every home purchase, or every transaction they performed. The bottom line is that if you are going to buy a new home, but you are going to lay awake every night for the next 5 years hoping that there will be housing appreciation, DO NOT BUY A HOME. It is not worth the heartache and you will not enjoy the home at all. It will be a burden for you.
Whatever you do, make sure of the following:
1 – Use a fixed rate loan vehicle. Unless there is an imminent relocation and home sale it is just plain stupid not to.
2 – Don’t overextend yourself. If you are doing rental calculations make sure you include vacancy, repairs, and buffer your rental rate estimates buy 7% of what you see on Craigslist for your assumed rental rate.
Also, on the flip side rental homes are very helpful for you tax wise so that may be one consideration on keeping the home. You may want to talk to your accountant about the benefits there. So while you may be cash poor, come April you can do pretty well.
Again though, if you will stress out and extend yourselves, I would not do it. The future is at best very shaky and our kids will not enjoy the same life we did growing up here so make wise choices now.
SD Realtor
ParticipantI cannot express how wary I would be about getting into any loan beyond a fixed rate vehicle at this point in time. WHile many espouse this is a lost decade and interest rates will be low for a long long time, there is not any doubt in my mind that when rates go up, they will go up very high very fast. This then push whatever appreciation that has been made into the tank quickly. This will also cause considerable stress to anyone who gets into any loans that are not fixed rates.
Now I do not really believe that this will happen soon. However could it happen within 5 years? Absolutely no doubt. I think that the timing for a shift in this sort of thing will be somewhat tied to elections. So I could see that sometime in the spring of 2012, no matter who is in office, there could be bigtime problems.
FLU made several good points as usual. I do not think there is a person I know who has made money on every stock purchase, or every home purchase, or every transaction they performed. The bottom line is that if you are going to buy a new home, but you are going to lay awake every night for the next 5 years hoping that there will be housing appreciation, DO NOT BUY A HOME. It is not worth the heartache and you will not enjoy the home at all. It will be a burden for you.
Whatever you do, make sure of the following:
1 – Use a fixed rate loan vehicle. Unless there is an imminent relocation and home sale it is just plain stupid not to.
2 – Don’t overextend yourself. If you are doing rental calculations make sure you include vacancy, repairs, and buffer your rental rate estimates buy 7% of what you see on Craigslist for your assumed rental rate.
Also, on the flip side rental homes are very helpful for you tax wise so that may be one consideration on keeping the home. You may want to talk to your accountant about the benefits there. So while you may be cash poor, come April you can do pretty well.
Again though, if you will stress out and extend yourselves, I would not do it. The future is at best very shaky and our kids will not enjoy the same life we did growing up here so make wise choices now.
SD Realtor
ParticipantI cannot express how wary I would be about getting into any loan beyond a fixed rate vehicle at this point in time. WHile many espouse this is a lost decade and interest rates will be low for a long long time, there is not any doubt in my mind that when rates go up, they will go up very high very fast. This then push whatever appreciation that has been made into the tank quickly. This will also cause considerable stress to anyone who gets into any loans that are not fixed rates.
Now I do not really believe that this will happen soon. However could it happen within 5 years? Absolutely no doubt. I think that the timing for a shift in this sort of thing will be somewhat tied to elections. So I could see that sometime in the spring of 2012, no matter who is in office, there could be bigtime problems.
FLU made several good points as usual. I do not think there is a person I know who has made money on every stock purchase, or every home purchase, or every transaction they performed. The bottom line is that if you are going to buy a new home, but you are going to lay awake every night for the next 5 years hoping that there will be housing appreciation, DO NOT BUY A HOME. It is not worth the heartache and you will not enjoy the home at all. It will be a burden for you.
Whatever you do, make sure of the following:
1 – Use a fixed rate loan vehicle. Unless there is an imminent relocation and home sale it is just plain stupid not to.
2 – Don’t overextend yourself. If you are doing rental calculations make sure you include vacancy, repairs, and buffer your rental rate estimates buy 7% of what you see on Craigslist for your assumed rental rate.
Also, on the flip side rental homes are very helpful for you tax wise so that may be one consideration on keeping the home. You may want to talk to your accountant about the benefits there. So while you may be cash poor, come April you can do pretty well.
Again though, if you will stress out and extend yourselves, I would not do it. The future is at best very shaky and our kids will not enjoy the same life we did growing up here so make wise choices now.
SD Realtor
ParticipantI cannot express how wary I would be about getting into any loan beyond a fixed rate vehicle at this point in time. WHile many espouse this is a lost decade and interest rates will be low for a long long time, there is not any doubt in my mind that when rates go up, they will go up very high very fast. This then push whatever appreciation that has been made into the tank quickly. This will also cause considerable stress to anyone who gets into any loans that are not fixed rates.
Now I do not really believe that this will happen soon. However could it happen within 5 years? Absolutely no doubt. I think that the timing for a shift in this sort of thing will be somewhat tied to elections. So I could see that sometime in the spring of 2012, no matter who is in office, there could be bigtime problems.
FLU made several good points as usual. I do not think there is a person I know who has made money on every stock purchase, or every home purchase, or every transaction they performed. The bottom line is that if you are going to buy a new home, but you are going to lay awake every night for the next 5 years hoping that there will be housing appreciation, DO NOT BUY A HOME. It is not worth the heartache and you will not enjoy the home at all. It will be a burden for you.
Whatever you do, make sure of the following:
1 – Use a fixed rate loan vehicle. Unless there is an imminent relocation and home sale it is just plain stupid not to.
2 – Don’t overextend yourself. If you are doing rental calculations make sure you include vacancy, repairs, and buffer your rental rate estimates buy 7% of what you see on Craigslist for your assumed rental rate.
Also, on the flip side rental homes are very helpful for you tax wise so that may be one consideration on keeping the home. You may want to talk to your accountant about the benefits there. So while you may be cash poor, come April you can do pretty well.
Again though, if you will stress out and extend yourselves, I would not do it. The future is at best very shaky and our kids will not enjoy the same life we did growing up here so make wise choices now.
SD Realtor
ParticipantI cannot express how wary I would be about getting into any loan beyond a fixed rate vehicle at this point in time. WHile many espouse this is a lost decade and interest rates will be low for a long long time, there is not any doubt in my mind that when rates go up, they will go up very high very fast. This then push whatever appreciation that has been made into the tank quickly. This will also cause considerable stress to anyone who gets into any loans that are not fixed rates.
Now I do not really believe that this will happen soon. However could it happen within 5 years? Absolutely no doubt. I think that the timing for a shift in this sort of thing will be somewhat tied to elections. So I could see that sometime in the spring of 2012, no matter who is in office, there could be bigtime problems.
FLU made several good points as usual. I do not think there is a person I know who has made money on every stock purchase, or every home purchase, or every transaction they performed. The bottom line is that if you are going to buy a new home, but you are going to lay awake every night for the next 5 years hoping that there will be housing appreciation, DO NOT BUY A HOME. It is not worth the heartache and you will not enjoy the home at all. It will be a burden for you.
Whatever you do, make sure of the following:
1 – Use a fixed rate loan vehicle. Unless there is an imminent relocation and home sale it is just plain stupid not to.
2 – Don’t overextend yourself. If you are doing rental calculations make sure you include vacancy, repairs, and buffer your rental rate estimates buy 7% of what you see on Craigslist for your assumed rental rate.
Also, on the flip side rental homes are very helpful for you tax wise so that may be one consideration on keeping the home. You may want to talk to your accountant about the benefits there. So while you may be cash poor, come April you can do pretty well.
Again though, if you will stress out and extend yourselves, I would not do it. The future is at best very shaky and our kids will not enjoy the same life we did growing up here so make wise choices now.
SD Realtor
ParticipantConcho you should have sent him a link to the illuminati.
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