The gap between SD distressed and non-distressed pricing appeared to be widening yesterday. Can we get a glimpse of what to expect for the rest of the year by analyzing the current pendings and contingents? How do they look around North SD County's Coastal region? We...
Here's another ivory-tower type who doesn't look hard enough to see that what's needed is market cleansing. The housing crises seems to have led Americans to take a less critical view of strategic default. According to a recent survey that polled 1,026 U.S. adults,...
BofA conducted a realtor seminar today on REOs and short sales. Some of the highlights: 1. Short sales average three buyers per closing (average two fallouts before the third one sticks). 2. 18% of short sales have some elements of fraud. 3. They forgive...
If you had a big enough family and entourage, you could really blow through some dough these days. Or maybe this is purely a strategic default?
From HW: Few, if any, borrowers strategically defaulted to take advantage of mortgage servicer relief under the $25 billion settlement struck in March, according to Fitch Ratings. In fact, the percentage of current underwater borrowers moving to delinquent status, or...
Hat tip to T&W for sending this along, from dsnews.com: After conducting a survey with current and former clients, YouWalkAway.com reported that lenders are taking longer before beginning the foreclosure process. The agency surveyed underwater homeowners it has or...
From dsnews.com: An alarming number of homeowners see strategic default as a viable option should their home continue to depreciate. Almost half of the homeowners participating in an online poll from Housing Predictor say they will walk away from their mortgage...
From the U-T: A San Diego real estate agent has launched an awareness website that aims to stop strategic defaults, when underwater borrowers choose to walk away from their homes even though they are able to afford their mortgages. Tuba Gokcek, who is based in...
I haven't seen any defaulters buying again, but they better hurry - from NMN: A House Financial Services subcommittee is slated to mark up an FHA reform bill Tuesday that establishes a minimum annual mortgage insurance premium and extends the agency's indemnification...
From msnbc.com: When David Martin and his wife bought their north Seattle condo five years ago, they figured they had plenty of time to downsize if they needed to before they retired. Now, with the property worth roughly $60,000 less than the balance of their...
