ricepatrol78

I remember bert posted a similar graph about this topic.. but here is a news report about this....

http://www.cbsnews.com/video/watch/?id=4668112n

Funny how so many people "thought" they were rich....
fake paparazzi... lol

I love the acupuncturist......!!! No wonder shes an acupuncturist and not a doctor...

B.C.

That is a GREAT video. Thanks

I forgot about the option arms

**Jay-V**

If any of you have dealt with buying a foreclosure, you know what a pain in the ass it can be. Either have 6 figs in your bank account ready to cut a check on the spot, or just watch a bunch of venture capitalist scoop em' up just like taking candy from a baby.

Besides, most foreclosures are in areas you don't want to live in anyway (unless you're buying to become a slum lord..er, I mean land lord )

Mr. Eryozgatliyan

I think its safe to say, I am happy I live in rented townhome

the s2k dude

a lot of people i am dealing with are renting out their home and dont tell the tenants they are in forclosure....it sucks for the tenant because half the time they wont know they need to be out until the sheriff comes knocking.

this came up today at work. the process for in which we were doing things has also changed. its a little better for the people, but that means im going to have to take a bit of a pay cut. just got to work a little harder to squeeze 1 or 2 extra programs out a month.

the s2k dude

now if anyone can refer some people losing their homes or even if they are upside down in market value.. i can pay out a referal fee. I just have to make sure that they have a loan with a bank that my company does work with. PM me if anyone needs help.

ESCALVANTE

Who do you work for?



On another note, the better deals in this market are the houses needing work that are lender-owned/REOs.

If any of you are in the market for a home in decent/nice areas, you know that there are plenty of buyers in this market with great credit, income, assets, and down payments. Strong buyers are acquiring a lot of properties and 75% of the short sales I have listed are in escrow or about to be.

I hear all this talk about people not buying properties but a few of the clients that I am working with are having a hard time getting the homes they write offers on even when over-bidding. The markets that are suffering seem to be the undesirable ones but I see plenty of action in the markets I work in.

Additionally, I'm looking to buy my next two properties within the next few months and am keeping my fingers crossed for a deep rate cut tomorrow morning.

**Jay-V**

Dude, I will be so pissed if this happens. I just finished up a refi less than a month ago and now this Can I refi again with no closing costs Sal?

ESCALVANTE

Sure thing!!! No up-front fees!!!

thefin

Wait, he "knows" option arms will fail because sub prime borrowers aka idiots, failed to repay their loans? The key phrase is "making a name for himself" here. Anything this douche says should be taken with a large grain of salt. If he really was this smart he (as an investor) would have been ringing the bell about mortgage backed securities in 2004. I think its highly likely he was bundling them too and either laughing all the way to the bank or dumb to the coming Bankocalypse.

I think his idea does hold some water, especially for slightly above sub prime borrowers and below. My rusty crystal ball says its not going to have the same chilling affect on the market, as the last wave because in many areas the prices have stabilized or have had smaller declines in the last 6 months. The prices haven't recovered, they are still at 2001-2003 price levels. I predict they will go down again but at a lower rate of decline than last time.