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UCGal
ParticipantIf I’m not mistaken – sellers costs are realtor (n/a in the case you described) and some title/escrow costs. It’s not a lot of $ once you get rid of the realtor commission.
I bought our house from my father – no realtor, but we used a title company to do the escrow. His costs were less than $1000. I don’t remember the exact amount – but it may have been just a few hundred dollars.
ParticipantIf I’m not mistaken – sellers costs are realtor (n/a in the case you described) and some title/escrow costs. It’s not a lot of $ once you get rid of the realtor commission.
I bought our house from my father – no realtor, but we used a title company to do the escrow. His costs were less than $1000. I don’t remember the exact amount – but it may have been just a few hundred dollars.
September 3, 2009 at 8:13 AM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452346ParticipantToo funny TG.
From what my nephew says – you’d never watch porn again after working on the set. Plus they tend to require unpaid overtime, have lousy or no craft services, and be crappy about providing the right tools to light properly. (Not the right kind of lights, rigging, cabling.)
He said he thought reality tv was bad till he did a porn gig.
September 3, 2009 at 8:13 AM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452539ParticipantToo funny TG.
From what my nephew says – you’d never watch porn again after working on the set. Plus they tend to require unpaid overtime, have lousy or no craft services, and be crappy about providing the right tools to light properly. (Not the right kind of lights, rigging, cabling.)
He said he thought reality tv was bad till he did a porn gig.
September 3, 2009 at 8:13 AM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452879ParticipantToo funny TG.
From what my nephew says – you’d never watch porn again after working on the set. Plus they tend to require unpaid overtime, have lousy or no craft services, and be crappy about providing the right tools to light properly. (Not the right kind of lights, rigging, cabling.)
He said he thought reality tv was bad till he did a porn gig.
September 3, 2009 at 8:13 AM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452952ParticipantToo funny TG.
From what my nephew says – you’d never watch porn again after working on the set. Plus they tend to require unpaid overtime, have lousy or no craft services, and be crappy about providing the right tools to light properly. (Not the right kind of lights, rigging, cabling.)
He said he thought reality tv was bad till he did a porn gig.
September 3, 2009 at 8:13 AM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #453142ParticipantToo funny TG.
From what my nephew says – you’d never watch porn again after working on the set. Plus they tend to require unpaid overtime, have lousy or no craft services, and be crappy about providing the right tools to light properly. (Not the right kind of lights, rigging, cabling.)
He said he thought reality tv was bad till he did a porn gig.
September 2, 2009 at 12:10 PM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #451907Participant[quote=SD Realtor]Lets try to make sure we have the basic understanding of servicing the loan verses owning it okay?
Most loans are OWNED by investors. Most entities such as banks service them. Yes some banks do own portfolios as well. However understanding the basics is a good start. So to imply the big banks are holding bank cazillions of homes is an incorrect statement.[/quote]
Semi-Hijack:
We know that there are large numbers of homes in some stage of delinquency. Many have received NODs but not NOTs. From what people have posted here – there are apparently folks who have not even received NOD, despite failure to pay the mortgage.
We know that a large number of loans are owned by Fannie and Freddie. I read that this makes up 60% of mortgages. That leaves 40% – of which many are bundled into MBSs… So investors own shares of a tranche of mortgages.
Who decides when a delinquent property goes to trustee sale? It is likely to be the servicers, not the investors. Heck, the investors are so far removed from the individual mortgages, how would they even know? They only know if their MBS bond is performing or not.
Or am I just confused about this? Maybe the investors really do have knowlege and are in the loop of deciding when to foreclose vs when to let the mortgagee stay rent free.
September 2, 2009 at 12:10 PM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452103Participant[quote=SD Realtor]Lets try to make sure we have the basic understanding of servicing the loan verses owning it okay?
Most loans are OWNED by investors. Most entities such as banks service them. Yes some banks do own portfolios as well. However understanding the basics is a good start. So to imply the big banks are holding bank cazillions of homes is an incorrect statement.[/quote]
Semi-Hijack:
We know that there are large numbers of homes in some stage of delinquency. Many have received NODs but not NOTs. From what people have posted here – there are apparently folks who have not even received NOD, despite failure to pay the mortgage.
We know that a large number of loans are owned by Fannie and Freddie. I read that this makes up 60% of mortgages. That leaves 40% – of which many are bundled into MBSs… So investors own shares of a tranche of mortgages.
Who decides when a delinquent property goes to trustee sale? It is likely to be the servicers, not the investors. Heck, the investors are so far removed from the individual mortgages, how would they even know? They only know if their MBS bond is performing or not.
Or am I just confused about this? Maybe the investors really do have knowlege and are in the loop of deciding when to foreclose vs when to let the mortgagee stay rent free.
September 2, 2009 at 12:10 PM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452443Participant[quote=SD Realtor]Lets try to make sure we have the basic understanding of servicing the loan verses owning it okay?
Most loans are OWNED by investors. Most entities such as banks service them. Yes some banks do own portfolios as well. However understanding the basics is a good start. So to imply the big banks are holding bank cazillions of homes is an incorrect statement.[/quote]
Semi-Hijack:
We know that there are large numbers of homes in some stage of delinquency. Many have received NODs but not NOTs. From what people have posted here – there are apparently folks who have not even received NOD, despite failure to pay the mortgage.
We know that a large number of loans are owned by Fannie and Freddie. I read that this makes up 60% of mortgages. That leaves 40% – of which many are bundled into MBSs… So investors own shares of a tranche of mortgages.
Who decides when a delinquent property goes to trustee sale? It is likely to be the servicers, not the investors. Heck, the investors are so far removed from the individual mortgages, how would they even know? They only know if their MBS bond is performing or not.
Or am I just confused about this? Maybe the investors really do have knowlege and are in the loop of deciding when to foreclose vs when to let the mortgagee stay rent free.
September 2, 2009 at 12:10 PM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452516Participant[quote=SD Realtor]Lets try to make sure we have the basic understanding of servicing the loan verses owning it okay?
Most loans are OWNED by investors. Most entities such as banks service them. Yes some banks do own portfolios as well. However understanding the basics is a good start. So to imply the big banks are holding bank cazillions of homes is an incorrect statement.[/quote]
Semi-Hijack:
We know that there are large numbers of homes in some stage of delinquency. Many have received NODs but not NOTs. From what people have posted here – there are apparently folks who have not even received NOD, despite failure to pay the mortgage.
We know that a large number of loans are owned by Fannie and Freddie. I read that this makes up 60% of mortgages. That leaves 40% – of which many are bundled into MBSs… So investors own shares of a tranche of mortgages.
Who decides when a delinquent property goes to trustee sale? It is likely to be the servicers, not the investors. Heck, the investors are so far removed from the individual mortgages, how would they even know? They only know if their MBS bond is performing or not.
Or am I just confused about this? Maybe the investors really do have knowlege and are in the loop of deciding when to foreclose vs when to let the mortgagee stay rent free.
September 2, 2009 at 12:10 PM in reply to: Banks to Flood the Markets with Foreclosures – CNBC Reports #452705Participant[quote=SD Realtor]Lets try to make sure we have the basic understanding of servicing the loan verses owning it okay?
Most loans are OWNED by investors. Most entities such as banks service them. Yes some banks do own portfolios as well. However understanding the basics is a good start. So to imply the big banks are holding bank cazillions of homes is an incorrect statement.[/quote]
Semi-Hijack:
We know that there are large numbers of homes in some stage of delinquency. Many have received NODs but not NOTs. From what people have posted here – there are apparently folks who have not even received NOD, despite failure to pay the mortgage.
We know that a large number of loans are owned by Fannie and Freddie. I read that this makes up 60% of mortgages. That leaves 40% – of which many are bundled into MBSs… So investors own shares of a tranche of mortgages.
Who decides when a delinquent property goes to trustee sale? It is likely to be the servicers, not the investors. Heck, the investors are so far removed from the individual mortgages, how would they even know? They only know if their MBS bond is performing or not.
Or am I just confused about this? Maybe the investors really do have knowlege and are in the loop of deciding when to foreclose vs when to let the mortgagee stay rent free.
ParticipantDo you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?
I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.
ParticipantDo you think the increase in 3rd party sales this years (vs banks) is because the banks started lowering the opening bid to a price that makes the property potentially profitable?
I remember reading (here and elsewhere) that last year the banks were setting the opening bids higher than the value of the house – so there were no bids.
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