Monday, February 8th, 2010 at 7:21 AM
Shadash Chart
San Diego County defaulted properties (thanks foreclosureradar!):
Posted on Monday, February 8th, 2010 at 7:21 AM in F-List, Foreclosures/REOs, Loan Mods, Market Conditions | 11 Comments » | 
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Despicable. I don’t expect anything less from today’s congress. Pandering to the foolish while sticking their hands into the American taxpayers’ pockets. What a load of crap.
This should take a month, at best, to decide whether or not people can make a house payment. If they cannot, it’s off to the chopping block.
chrisL | February 8th, 2010 at 7:31 amThanks Jim for putting this up. I know some of the things I post aren’t what the “housing class” wants to hear. But, what’s going on isn’t right and needs to be better publicized.
shadash | February 8th, 2010 at 7:50 amTold an f’d borrower two years ago: “Stop making payments.”
Finally went to courthouse steps last week(coulda bought it back at 50% LOL). Anyway, 2 years rent free.
Afterwards, Realtor stops by: “2K cash for keys”
Friend counters: “4K”
Realtor: ‘I’ll get back to you”
And so it goes.
LM | February 8th, 2010 at 8:37 amLM – well, that’s Capitalism for you. Borrowers acting their own self interest, just like the banks. They kind of deserve each other…..
Art Eclectic | February 8th, 2010 at 8:44 am“This should take a month, at best, to decide whether or not people can make a house payment. If they cannot, it’s off to the chopping block.”
I feel the same way about capital punishment.
GameAgent | February 8th, 2010 at 9:00 amGuilty = gas him.
Game
Ending the punishment of owning a home in SoCal vs ending a life is a bit of a stretch, but I’ll give you points for trying.
I always go back to a friend of mine who lived 26 months rent free in an ocean-view mansion.
I think this housing bust will be like the housing boom behind it. Very, very long, and irrational to boot.
Chuck
Chuck Ponzi | February 8th, 2010 at 1:50 pmGood thing the market’s turning around. It’s “to the moon” from here!
CA renter | February 8th, 2010 at 2:22 pmWow, 311 days– average free rent for 2009 4th Quarter? (Crazy logic follows) *Calculator whirling* If my arithmetic is correct–and I wasn’t a *despicable* renter like I am, I’d have $20,501 more to put toward my down payment for my next house (which I wouldn’t default on).
Maybe past performance isn’t indicative of the future, but I’ve had three mortgages in my life (always 20% DP, 30-year fixed) and never been late or defaulted on one of ‘em. And I’m earnestly looking to be a homeowner again.
Sometimes Jim’s posts are funny and sometimes not. The reason I respect you so much, JtR, is you tell us the truth–the good, the bad or just plain ugly.
*Hugh sigh* Right this moment, I feel like I’ve been kicked in the stomach, and find myself shaking my head. Three words escape my lips: “Wow! Just WOW! I just paid my rent last week, and just feel sad…
Susie | February 9th, 2010 at 9:25 amSigh…I’m with Susie. 311 days of free rent? Yeah, I think we would have an extra $28k.
Know some people that haven’t paid their mortgage since Aug. 2008. The house went “back to bene” 2 months ago, and they are still living there. Turned down the cash for keys. They haven’t gotten an eviction notice yet?! Can anyone explain that? A realtor from the bank was at the house the day after auction but no word since.
Erin | February 9th, 2010 at 9:52 amSuzie, and Erin,
The Mortgage Deadbeat also gets 2-5k from the bank just to move out and not destroy the place. (if the bank ever forecloses)
Don’t forget that in your calculations.
shadash | February 9th, 2010 at 10:16 amdont forget…….. KARMA
steelernation | February 10th, 2010 at 12:46 pmas what goes around comes around