- Joined
- Oct 8, 2007
- Messages
- 146
M
Ms.Wetback
Guest
Actually .................. learn it NOW so when you do get money you know what to do.
2
2ez_Twisted
Guest
Stong credit will help any financial deficiency IMO.
and oh......interesting news out today:
Foreclosures jump 57 percent in last 12 months By Lynn Adler
Tue Apr 15, 5:26 AM ET
Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.
For the month of March, foreclosure filings, default notices, auction sale notices and bank repossessions rose 5 percent, led by Nevada, California and Florida, RealtyTrac said.
The rise in March to filings on a total of 234,685 properties followed a 4 percent decline in February, RealtyTrac reported.
RealtyTrac said the peak has yet to be reached.
"What we're really looking at is ongoing fallout from people overextending themselves to buy homes they couldn't afford and using highly toxic loan products to get into the houses in the first place," Rick Sharga, vice president of marketing at RealtyTrac, based in Irvine, California, said in an interview.
"We're going to see quite possibly a record amount of foreclosure activity in the third or fourth quarter," reflecting sharp payment increases on adjustable-rate subprime mortgages in May and June, Sharga said.
One in every 538 U.S. households living in single-family dwellings received a foreclosure filing in March. The single-family dwellings can include condominiums.
There are three phases of the foreclosure process in most states -- an initial default notice, notice of a scheduled auction, and an "REO" filing if the property is not sold at auction but instead repossessed by the bank, Sharga said.
REO refers to real estate-owned property.
All of the households in the report received at least one of these filings last month.
AUCTION NOTICES UP 32 PERCENT
While default notices and repossessions soared in March, auction notices rose a relatively small 32 percent, James J. Saccacio, chief executive officer of RealtyTrac, said in a statement.
That suggests "more defaulting homeowners are simply walking away and deeding their properties back to the foreclosing lender," he said. "This deed-in-lieu-of-foreclosure process allows the lender to take possession of a property without putting it up for public foreclosure auction."
The states with the highest foreclosure filing rates -- Nevada, California and Florida -- also are among those that had the biggest price appreciation in the five-year boom before the housing meltdown that began in 2006.
These states tend to also be plagued by defaults on unoccupied homes bought by speculative investors. In many cases, home prices have now fallen below the size of the mortgages and some owners are walking away.
In Nevada, one in every 139 households received a foreclosure filing in March, keeping the state at the top of the ranks for the 15th straight month.
The 7,659 Nevada properties receiving foreclosure filings last month represented a 24 percent jump from February and a nearly 62 percent spike from March 2007.
California had the second highest rate of foreclosure filings, one for every 204 households, followed by Florida with one of every 282 households.
Arizona's filings fell about 5 percent, but it retained its standing as with the fourth highest pace of foreclosure activity for the third month straight.
Foreclosure activity in Colorado dropped 8 percent in March from February and 1 percent from a year ago, but it ranked No. 5, with one filing for each 339 households.
Georgia, Ohio, Michigan, Massachusetts and Maryland were the other states with the highest foreclosure rates in March.
The states with highest total number of foreclosure filings were California, Florida and Ohio.
Foreclosure filings were reported on 64,711 California properties in March, the most of any state for the 15th consecutive month, up nearly 21 percent from February and up almost 106 percent from March 2007.
Florida posted the second highest total, with foreclosure filings reported on 30,254 properties in March. While down about 7 percent from February, filings were about 112 percent higher than last March.
Georgia, Texas, Michigan, Arizona, Illinois, Nevada and Colorado were the other states with the highest foreclosure totals in March.
(Editing by Leslie Adler)
and oh......interesting news out today:
Foreclosures jump 57 percent in last 12 months By Lynn Adler
Tue Apr 15, 5:26 AM ET
Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.
For the month of March, foreclosure filings, default notices, auction sale notices and bank repossessions rose 5 percent, led by Nevada, California and Florida, RealtyTrac said.
The rise in March to filings on a total of 234,685 properties followed a 4 percent decline in February, RealtyTrac reported.
RealtyTrac said the peak has yet to be reached.
"What we're really looking at is ongoing fallout from people overextending themselves to buy homes they couldn't afford and using highly toxic loan products to get into the houses in the first place," Rick Sharga, vice president of marketing at RealtyTrac, based in Irvine, California, said in an interview.
"We're going to see quite possibly a record amount of foreclosure activity in the third or fourth quarter," reflecting sharp payment increases on adjustable-rate subprime mortgages in May and June, Sharga said.
One in every 538 U.S. households living in single-family dwellings received a foreclosure filing in March. The single-family dwellings can include condominiums.
There are three phases of the foreclosure process in most states -- an initial default notice, notice of a scheduled auction, and an "REO" filing if the property is not sold at auction but instead repossessed by the bank, Sharga said.
REO refers to real estate-owned property.
All of the households in the report received at least one of these filings last month.
AUCTION NOTICES UP 32 PERCENT
While default notices and repossessions soared in March, auction notices rose a relatively small 32 percent, James J. Saccacio, chief executive officer of RealtyTrac, said in a statement.
That suggests "more defaulting homeowners are simply walking away and deeding their properties back to the foreclosing lender," he said. "This deed-in-lieu-of-foreclosure process allows the lender to take possession of a property without putting it up for public foreclosure auction."
The states with the highest foreclosure filing rates -- Nevada, California and Florida -- also are among those that had the biggest price appreciation in the five-year boom before the housing meltdown that began in 2006.
These states tend to also be plagued by defaults on unoccupied homes bought by speculative investors. In many cases, home prices have now fallen below the size of the mortgages and some owners are walking away.
In Nevada, one in every 139 households received a foreclosure filing in March, keeping the state at the top of the ranks for the 15th straight month.
The 7,659 Nevada properties receiving foreclosure filings last month represented a 24 percent jump from February and a nearly 62 percent spike from March 2007.
California had the second highest rate of foreclosure filings, one for every 204 households, followed by Florida with one of every 282 households.
Arizona's filings fell about 5 percent, but it retained its standing as with the fourth highest pace of foreclosure activity for the third month straight.
Foreclosure activity in Colorado dropped 8 percent in March from February and 1 percent from a year ago, but it ranked No. 5, with one filing for each 339 households.
Georgia, Ohio, Michigan, Massachusetts and Maryland were the other states with the highest foreclosure rates in March.
The states with highest total number of foreclosure filings were California, Florida and Ohio.
Foreclosure filings were reported on 64,711 California properties in March, the most of any state for the 15th consecutive month, up nearly 21 percent from February and up almost 106 percent from March 2007.
Florida posted the second highest total, with foreclosure filings reported on 30,254 properties in March. While down about 7 percent from February, filings were about 112 percent higher than last March.
Georgia, Texas, Michigan, Arizona, Illinois, Nevada and Colorado were the other states with the highest foreclosure totals in March.
(Editing by Leslie Adler)
A
ALLO
Guest
Personally, most americans don't realize how bad it really is. We have a DEBT BASED MONETARY SYSTEM, and that is the absolute worst system to have. It is inevitable that it will collapse, the question is when. MWB pointed to an excellent point that most people cannot understand and that is how gas and oil prices have risen because of the de valuing of the dollar. Food prices are soaring and riots are erupting around the world. Gas prices here at home, almost 4 bucks a gallon. Our Federal reserve which PRINTS MONEY( and is also PRIVATELY OWNED) IS DOING NOTHING MORE THEN CREATING MORE DEBT.
The bailout of Bears and Sterns should have really woke up and made people take notice, but it didn't. The loan of 200 billion to banks should have been an eye opener, but it wasn't. 200 billion out of thin air, LOL, and these fools in Washington think everything is ok. Countrywide, airlines, retail in a state of panic, credit crisis, and the big one of all, REAL ESTATE. We have not seen the end of the real estate collapse. The number of foreclosures being put out is NOT the real number. Bloomberg news reported last week that many banks are letting homeowners stay in their homes FOR FREE for up to 6 months so they don't have to report it as being foreclosed and hoping the individuals financial situation will turn around in the time frame to fix things. Now all of this is going to have to be reported sooner or later, and it seems everyone is choosing later. I see a stock market crash this October, and I see more interest rate cuts on the way, not that it will fix anything long term, but those who don't know how the system works will think all is ok.
The bailout of Bears and Sterns should have really woke up and made people take notice, but it didn't. The loan of 200 billion to banks should have been an eye opener, but it wasn't. 200 billion out of thin air, LOL, and these fools in Washington think everything is ok. Countrywide, airlines, retail in a state of panic, credit crisis, and the big one of all, REAL ESTATE. We have not seen the end of the real estate collapse. The number of foreclosures being put out is NOT the real number. Bloomberg news reported last week that many banks are letting homeowners stay in their homes FOR FREE for up to 6 months so they don't have to report it as being foreclosed and hoping the individuals financial situation will turn around in the time frame to fix things. Now all of this is going to have to be reported sooner or later, and it seems everyone is choosing later. I see a stock market crash this October, and I see more interest rate cuts on the way, not that it will fix anything long term, but those who don't know how the system works will think all is ok.
M
Ms.Wetback
Guest
Regarding the highlighted ...............
It is all VERY valid and most people have no clue.
Food prices will be an issue over time.
Real estate is NO WHERE near its end.
And yes, rates will dive, and it will be a good thing for those who can truly afford to take advantage, but for 90% of society in the US it will not matter.
Not a doom and gloom'er..................just a realist as far as the state of the economy and our government.
N
nikhi19
Guest
I have probably the cheapest rent ANYWHERE in Los Angeles, and I'm not moving until house prices come down enough to where not only can I afford it but so that I don't lose money in the process. I'm talking dirt cheap for a great location is what I've got now!
And I'm patiently waiting for the big earthquake to happen in Cali and scare everyone to move away so house prices will drop even faster!
And I'm patiently waiting for the big earthquake to happen in Cali and scare everyone to move away so house prices will drop even faster!
M
Ms.Wetback
Guest
And I'm patiently waiting for the big earthquake to happen in Cali and scare everyone to move away so house prices will drop even faster!
Thats to funny..............
A
aries115
Guest
It's the Great Depression all over again, except with real estate. Back then banks were loaning out a ton of money against stocks because they were a safe bet, then when the stock market finally crashed, what the people owned (stocks) was not even close to what was borrowed. Now, today, it's the same deal. The banks were loaning money to everyone and anyone for there realestate purchase or re-fi or equity line of credit. The problem is, once again, the housing market crashed (i.e just like the stock market in the 30's) and now people owe so much more than what's borrowed against. The similarities are quite eery.
M
Ms.Wetback
Guest
Good analogy aries ......................
V
Vegas Kid
Guest
Food prices are rising due to gas, but also due to you environmental wack jobs and your stupid ass ethanol requirements. People all over the world are going hungry because the farmers are not able to grow crops like the past, instead it goes to this retarded idea of ethanol being the new fuel.
Ethanol is a joke.
Ethanol is a joke.
M
Ms.Wetback
Guest
Maybe they will figure out a way to market it as a new drink LOL
V
Vegas Kid
Guest
yeah, actually if they want ethanol then they should look at ryegrass and not corn. Any moron knows that the grass is about 10X more usefull in entanol production
New Posts
-
-
-
Bigger Savings Await – 30% OFF Selected Products! Act Now with Code SALE30- Latest: Muscleshop_Rep
-
-
