[temeculaguy]

$5 says he works for that website

If I’m wrong, double or nothing, the next five posts will be hilarious.

[temeculaguy]

$5 says he works for that website

If I’m wrong, double or nothing, the next five posts will be hilarious.

[temeculaguy]

$5 says he works for that website

If I’m wrong, double or nothing, the next five posts will be hilarious.

[temeculaguy]

$5 says he works for that website

If I’m wrong, double or nothing, the next five posts will be hilarious.

[temeculaguy]

Padre, the taxes are a great way to find out if they got out of trouble. When the bank takes it back, they don’t pay the taxes until it sells on the market usually. An escrow account won’t pay them if you are missing payments and if the occupant doesn’t have an impound account, they wont pay them if they are trying to live free for a while becuase the lender acts long before the county will (they don’t seize until you are 5 years behind).

But in order to do a mod or refi or sell, the taxes have to be current for anything new to record, thus seeing taxes being brought current on a property you can almost certainly remove it from the “shadow inventory” pile.

If you run them all and find the taxes were paid on half, then you will have a nice little case study on what percentage will never come to market, thus far you’ve done two and both can be taken off the list. Maybe those are the only two and the rest are empty being hidden by a conspiracy, but until someone checks, we are all guessing.

Anectdotally I have more and more aquiantances that were fb’s and they are getting successful mods, even one got one on his rental (which is total b.s. because now it cash flows, at the expense of the rest of us). These mods are not that great in the long term, they have to ultimately pay it back when they sell, some have a five year term and then it reverts back, many are 40 yr loans, their places need to double in value in order to break even but all they know is their payment was cut in half and that’s enough for them for now.

[temeculaguy]

Padre, the taxes are a great way to find out if they got out of trouble. When the bank takes it back, they don’t pay the taxes until it sells on the market usually. An escrow account won’t pay them if you are missing payments and if the occupant doesn’t have an impound account, they wont pay them if they are trying to live free for a while becuase the lender acts long before the county will (they don’t seize until you are 5 years behind).

But in order to do a mod or refi or sell, the taxes have to be current for anything new to record, thus seeing taxes being brought current on a property you can almost certainly remove it from the “shadow inventory” pile.

If you run them all and find the taxes were paid on half, then you will have a nice little case study on what percentage will never come to market, thus far you’ve done two and both can be taken off the list. Maybe those are the only two and the rest are empty being hidden by a conspiracy, but until someone checks, we are all guessing.

Anectdotally I have more and more aquiantances that were fb’s and they are getting successful mods, even one got one on his rental (which is total b.s. because now it cash flows, at the expense of the rest of us). These mods are not that great in the long term, they have to ultimately pay it back when they sell, some have a five year term and then it reverts back, many are 40 yr loans, their places need to double in value in order to break even but all they know is their payment was cut in half and that’s enough for them for now.

[temeculaguy]

Padre, the taxes are a great way to find out if they got out of trouble. When the bank takes it back, they don’t pay the taxes until it sells on the market usually. An escrow account won’t pay them if you are missing payments and if the occupant doesn’t have an impound account, they wont pay them if they are trying to live free for a while becuase the lender acts long before the county will (they don’t seize until you are 5 years behind).

But in order to do a mod or refi or sell, the taxes have to be current for anything new to record, thus seeing taxes being brought current on a property you can almost certainly remove it from the “shadow inventory” pile.

If you run them all and find the taxes were paid on half, then you will have a nice little case study on what percentage will never come to market, thus far you’ve done two and both can be taken off the list. Maybe those are the only two and the rest are empty being hidden by a conspiracy, but until someone checks, we are all guessing.

Anectdotally I have more and more aquiantances that were fb’s and they are getting successful mods, even one got one on his rental (which is total b.s. because now it cash flows, at the expense of the rest of us). These mods are not that great in the long term, they have to ultimately pay it back when they sell, some have a five year term and then it reverts back, many are 40 yr loans, their places need to double in value in order to break even but all they know is their payment was cut in half and that’s enough for them for now.

[temeculaguy]

Padre, the taxes are a great way to find out if they got out of trouble. When the bank takes it back, they don’t pay the taxes until it sells on the market usually. An escrow account won’t pay them if you are missing payments and if the occupant doesn’t have an impound account, they wont pay them if they are trying to live free for a while becuase the lender acts long before the county will (they don’t seize until you are 5 years behind).

But in order to do a mod or refi or sell, the taxes have to be current for anything new to record, thus seeing taxes being brought current on a property you can almost certainly remove it from the “shadow inventory” pile.

If you run them all and find the taxes were paid on half, then you will have a nice little case study on what percentage will never come to market, thus far you’ve done two and both can be taken off the list. Maybe those are the only two and the rest are empty being hidden by a conspiracy, but until someone checks, we are all guessing.

Anectdotally I have more and more aquiantances that were fb’s and they are getting successful mods, even one got one on his rental (which is total b.s. because now it cash flows, at the expense of the rest of us). These mods are not that great in the long term, they have to ultimately pay it back when they sell, some have a five year term and then it reverts back, many are 40 yr loans, their places need to double in value in order to break even but all they know is their payment was cut in half and that’s enough for them for now.

[temeculaguy]

Padre, the taxes are a great way to find out if they got out of trouble. When the bank takes it back, they don’t pay the taxes until it sells on the market usually. An escrow account won’t pay them if you are missing payments and if the occupant doesn’t have an impound account, they wont pay them if they are trying to live free for a while becuase the lender acts long before the county will (they don’t seize until you are 5 years behind).

But in order to do a mod or refi or sell, the taxes have to be current for anything new to record, thus seeing taxes being brought current on a property you can almost certainly remove it from the “shadow inventory” pile.

If you run them all and find the taxes were paid on half, then you will have a nice little case study on what percentage will never come to market, thus far you’ve done two and both can be taken off the list. Maybe those are the only two and the rest are empty being hidden by a conspiracy, but until someone checks, we are all guessing.

Anectdotally I have more and more aquiantances that were fb’s and they are getting successful mods, even one got one on his rental (which is total b.s. because now it cash flows, at the expense of the rest of us). These mods are not that great in the long term, they have to ultimately pay it back when they sell, some have a five year term and then it reverts back, many are 40 yr loans, their places need to double in value in order to break even but all they know is their payment was cut in half and that’s enough for them for now.

[temeculaguy]

jp or anyone, do you ever run people on public records searches to see if they got a mod or had their nod removed? I am not sure if it available online everywhere, you may need to go in person but you can look at them for free. It is helpful if you are focused on certain properties in a certain area, you can find out exactly what is happening.

Here’s how, maybe someone will do a test and check a dozen or two and post the results, especially on those that had nods or nots and never came to market.

foreclosure.com gives the name on nods and nots of the borrower without subscribing and the county at least here in riverside county allows grantee searches by name online for free. When a street i liked came up as a nod, I’d check out the owner and sometimes it would list and entry for “notice of default” then a few months later “notice of trustee sale” and if the next entry was “release notice of default” I’d know that they figured out something (mod, refi, lotto win, relative to the rescue, whatever) but they escaped, however the foreclosure sites don’t erase it, it drops off after the auction date but it never was auctioned, the sale never records.

I wonder how many you would have to sample to gauge your market to see how many are getting mods where you want to buy.

for my hood these are the ways to find out what is really happening, other areas may have similar websites

http://www.foreclosure.com/

punch in the zip, enter, then the preforeclosure tab(nod) and the sheriff sale tab(not). the name of the onwer is listed

then here

http://www.cityoftemecula.org/Temecula/Government/IS_GIS/GIS/

halfway down, pick the map viewer, then on the map window that pops up, zoom in, then switch to the info cursor and click on all the houses on the street till you find the one that matches the name.

then here

http://www.enetwizard.com/shop/affiliates/11467_01/pre.asp

agree to terms, then enter the name and you will see a list of transactions, dates and transaction types, for a $2 fee you can get the doccument but you don’t need it unless you stumble onto a speculator with multiple properties in default. If the entry after the the notice of default says release notice of default, it’s time to move on and stalk another property, they got a mod.

I have to imagine that riv co isn’t the most advanced place in the world so your area probably has similar government websites where you can take the pulse directly from public records and avoid the innacuracies of the data clearing houses.

[temeculaguy]

jp or anyone, do you ever run people on public records searches to see if they got a mod or had their nod removed? I am not sure if it available online everywhere, you may need to go in person but you can look at them for free. It is helpful if you are focused on certain properties in a certain area, you can find out exactly what is happening.

Here’s how, maybe someone will do a test and check a dozen or two and post the results, especially on those that had nods or nots and never came to market.

foreclosure.com gives the name on nods and nots of the borrower without subscribing and the county at least here in riverside county allows grantee searches by name online for free. When a street i liked came up as a nod, I’d check out the owner and sometimes it would list and entry for “notice of default” then a few months later “notice of trustee sale” and if the next entry was “release notice of default” I’d know that they figured out something (mod, refi, lotto win, relative to the rescue, whatever) but they escaped, however the foreclosure sites don’t erase it, it drops off after the auction date but it never was auctioned, the sale never records.

I wonder how many you would have to sample to gauge your market to see how many are getting mods where you want to buy.

for my hood these are the ways to find out what is really happening, other areas may have similar websites

http://www.foreclosure.com/

punch in the zip, enter, then the preforeclosure tab(nod) and the sheriff sale tab(not). the name of the onwer is listed

then here

http://www.cityoftemecula.org/Temecula/Government/IS_GIS/GIS/

halfway down, pick the map viewer, then on the map window that pops up, zoom in, then switch to the info cursor and click on all the houses on the street till you find the one that matches the name.

then here

http://www.enetwizard.com/shop/affiliates/11467_01/pre.asp

agree to terms, then enter the name and you will see a list of transactions, dates and transaction types, for a $2 fee you can get the doccument but you don’t need it unless you stumble onto a speculator with multiple properties in default. If the entry after the the notice of default says release notice of default, it’s time to move on and stalk another property, they got a mod.

I have to imagine that riv co isn’t the most advanced place in the world so your area probably has similar government websites where you can take the pulse directly from public records and avoid the innacuracies of the data clearing houses.

[temeculaguy]

jp or anyone, do you ever run people on public records searches to see if they got a mod or had their nod removed? I am not sure if it available online everywhere, you may need to go in person but you can look at them for free. It is helpful if you are focused on certain properties in a certain area, you can find out exactly what is happening.

Here’s how, maybe someone will do a test and check a dozen or two and post the results, especially on those that had nods or nots and never came to market.

foreclosure.com gives the name on nods and nots of the borrower without subscribing and the county at least here in riverside county allows grantee searches by name online for free. When a street i liked came up as a nod, I’d check out the owner and sometimes it would list and entry for “notice of default” then a few months later “notice of trustee sale” and if the next entry was “release notice of default” I’d know that they figured out something (mod, refi, lotto win, relative to the rescue, whatever) but they escaped, however the foreclosure sites don’t erase it, it drops off after the auction date but it never was auctioned, the sale never records.

I wonder how many you would have to sample to gauge your market to see how many are getting mods where you want to buy.

for my hood these are the ways to find out what is really happening, other areas may have similar websites

http://www.foreclosure.com/

punch in the zip, enter, then the preforeclosure tab(nod) and the sheriff sale tab(not). the name of the onwer is listed

then here

http://www.cityoftemecula.org/Temecula/Government/IS_GIS/GIS/

halfway down, pick the map viewer, then on the map window that pops up, zoom in, then switch to the info cursor and click on all the houses on the street till you find the one that matches the name.

then here

http://www.enetwizard.com/shop/affiliates/11467_01/pre.asp

agree to terms, then enter the name and you will see a list of transactions, dates and transaction types, for a $2 fee you can get the doccument but you don’t need it unless you stumble onto a speculator with multiple properties in default. If the entry after the the notice of default says release notice of default, it’s time to move on and stalk another property, they got a mod.

I have to imagine that riv co isn’t the most advanced place in the world so your area probably has similar government websites where you can take the pulse directly from public records and avoid the innacuracies of the data clearing houses.

[temeculaguy]

jp or anyone, do you ever run people on public records searches to see if they got a mod or had their nod removed? I am not sure if it available online everywhere, you may need to go in person but you can look at them for free. It is helpful if you are focused on certain properties in a certain area, you can find out exactly what is happening.

Here’s how, maybe someone will do a test and check a dozen or two and post the results, especially on those that had nods or nots and never came to market.

foreclosure.com gives the name on nods and nots of the borrower without subscribing and the county at least here in riverside county allows grantee searches by name online for free. When a street i liked came up as a nod, I’d check out the owner and sometimes it would list and entry for “notice of default” then a few months later “notice of trustee sale” and if the next entry was “release notice of default” I’d know that they figured out something (mod, refi, lotto win, relative to the rescue, whatever) but they escaped, however the foreclosure sites don’t erase it, it drops off after the auction date but it never was auctioned, the sale never records.

I wonder how many you would have to sample to gauge your market to see how many are getting mods where you want to buy.

for my hood these are the ways to find out what is really happening, other areas may have similar websites

http://www.foreclosure.com/

punch in the zip, enter, then the preforeclosure tab(nod) and the sheriff sale tab(not). the name of the onwer is listed

then here

http://www.cityoftemecula.org/Temecula/Government/IS_GIS/GIS/

halfway down, pick the map viewer, then on the map window that pops up, zoom in, then switch to the info cursor and click on all the houses on the street till you find the one that matches the name.

then here

http://www.enetwizard.com/shop/affiliates/11467_01/pre.asp

agree to terms, then enter the name and you will see a list of transactions, dates and transaction types, for a $2 fee you can get the doccument but you don’t need it unless you stumble onto a speculator with multiple properties in default. If the entry after the the notice of default says release notice of default, it’s time to move on and stalk another property, they got a mod.

I have to imagine that riv co isn’t the most advanced place in the world so your area probably has similar government websites where you can take the pulse directly from public records and avoid the innacuracies of the data clearing houses.

[temeculaguy]

jp or anyone, do you ever run people on public records searches to see if they got a mod or had their nod removed? I am not sure if it available online everywhere, you may need to go in person but you can look at them for free. It is helpful if you are focused on certain properties in a certain area, you can find out exactly what is happening.

Here’s how, maybe someone will do a test and check a dozen or two and post the results, especially on those that had nods or nots and never came to market.

foreclosure.com gives the name on nods and nots of the borrower without subscribing and the county at least here in riverside county allows grantee searches by name online for free. When a street i liked came up as a nod, I’d check out the owner and sometimes it would list and entry for “notice of default” then a few months later “notice of trustee sale” and if the next entry was “release notice of default” I’d know that they figured out something (mod, refi, lotto win, relative to the rescue, whatever) but they escaped, however the foreclosure sites don’t erase it, it drops off after the auction date but it never was auctioned, the sale never records.

I wonder how many you would have to sample to gauge your market to see how many are getting mods where you want to buy.

for my hood these are the ways to find out what is really happening, other areas may have similar websites

http://www.foreclosure.com/

punch in the zip, enter, then the preforeclosure tab(nod) and the sheriff sale tab(not). the name of the onwer is listed

then here

http://www.cityoftemecula.org/Temecula/Government/IS_GIS/GIS/

halfway down, pick the map viewer, then on the map window that pops up, zoom in, then switch to the info cursor and click on all the houses on the street till you find the one that matches the name.

then here

http://www.enetwizard.com/shop/affiliates/11467_01/pre.asp

agree to terms, then enter the name and you will see a list of transactions, dates and transaction types, for a $2 fee you can get the doccument but you don’t need it unless you stumble onto a speculator with multiple properties in default. If the entry after the the notice of default says release notice of default, it’s time to move on and stalk another property, they got a mod.

I have to imagine that riv co isn’t the most advanced place in the world so your area probably has similar government websites where you can take the pulse directly from public records and avoid the innacuracies of the data clearing houses.

[temeculaguy]

No sweat, like you said I’m a big boy, I can take it and I know none of this is directed at me, just my position sometimes, an elbow to the chest is not a flagrant 2, it’s just playoff basketball. My primary residence is not my only planned purchase on this down part of the cycle, which is part of the reason I stay tuned in. I hope to come away with at least one rental before this thing turns. This is why I chose to underextend myself on the primary and why there is no porsche in the garage. My references to stocks and missed opportunity was part of that master plan because financing for rentals is tight right now, I had hoped to parlay into a larger down payment or a cash position because some condos involved in class action suits against the builder cannot get any form of financing right now and I see bargains on those because the only play is a cash play, however I failed in that little experiment, but I digress. I was happy in my rental, I’m happy in the new pad and I fully plan on being happy chasing old ladies in a rest home, it’s never about happy, it’s just math.

I wasn’t emulating the msm, they probably read boards like this and steal our ideas anyway. My conclusions are based on affordabity fundamentals, and prices relative to rent multipliers and the priced compared to the last few cycles (the reason I set my goal at 2001 pricing in nominal terms not inflation adjusted). These fundamentals kept me out of r/e in 06, 07 and until the last few days of 08, so I’m dancing with the one that brung me. If the msm decides this is their story today, they are late to the party, I learned it here and I learned it long ago, I didn’t make this stuff up, Rich did, as well as many ghosts of piggington past. I can point to countless posts in the past where I referenced these metrics and opined for a return to them, when they arrived, I embraced them. Now the rental(s) is a different story, I have to factor in other people’s ability to pay rent, not my ability to afford my primary, so the strike price and the rental stability is a huge issue and they do involve the macro market and employment, for those reasons I have elected to wait and see if the shadow inventory comes, plus the type of places I am evaluating as rentals have more unstable and overleveraged current owners, the speculators of 2006 are getting killed on their rentals because they needed appreciation, the counted on it and they will let their rental go before their primary and the loan mods and government programs are less likely to help them, in fact the gov’t seems to hate them.

Allan-sorry about macanudo knock, you are right, they make a nice mid level cigar that I’ve found appeals to most guests and I like them as well. I like certain $7 cabs from costco. As a host I’d never give guests one cigar and myself another, so those and rocky patel 1990’s and 1992’s are the “house” brand. If I find myself enjoying a smoke with a serious smoker, then we can break out the $20 sticks and get all geeked out about it, however blended scoth is not permitted on the premises, I believe the moose out front should have told you.

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