Massive Defaults Coming in Real Estate – 30% – 50% Reductions
inflation.us After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof” Links www.mgic.com mhanson.com … real estate house home buying realty obama update selling california commentary analysis news wealth destruction …
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Is there any place we are safe these days.
Hah
Real Estate is a good investment if your looking to own your home.
What do you think would happen when you took out a quarter million dollar loan and you only pull in 1,200$ cash in your job.
of course the damn bank will take your house back, It’s not your house in the 1st place its the bank’s and you just live there until you pay them that 250,000$ back.
I have a loan and i own my house (well i have 9.8k left to pay) It’s just not a lavish huge house with tons of rooms, its old.
how did you make that money with Google partnership?
You are not your credit rating.
when you modify, the amount you dont have to pay is counted as income on your tax returrn. no way around it. negotiating with banks isnt the problem. the problem is the taxable income you get from the debt being eliminated! now it becomes a federal beef you can go to jail for if you dont pay.
Yes, volvos are a nightmare. Better to buy something like a Chev Cavalier…. much simpler, and the parts are everywhere and dirt cheap! 1995 -1996 are best. No ECM (computer), and everything can be done in your own garage.
I am trying to become a google partner subscribe to me and i will subscribe to you too.
Change the oil regularly and change the filter every 15 to 20 thousand mile George,it should last forever….
Station wagons are great for family vacation George,not bad at all for $1,500 dollars.Are there any leaks in the engine ??
Excellent video George. Agree with you on the fact that the housing crash is not over, but not on the timeline. I don’t disagree, but the Gubbermint is pretty good at kicking it down the road further than you expect. Also, senate is debating extending (and expanding??) the housing credit to possibly as much as $15K. We live in Bizarro World.
I am trying to become a Youtube partner subscribe to me and i will subscribe to you too. thanks
Anyone looking for subcribers for youtube partner i am Subscribe to me and i will subscribe back to you.
I live in an apartment being forclosed on by some one in California. I live in Idaho, the forclosures that happen over there hurt us here as well.
You are right crises is not over. But wise investor can make money in any industry. More difficult market is more money opportunities there.
Amen to strategic defaulting! Cheers!
I don’t think it will collapse much more. The banks will just hold inventory back to control the market.
America turned into a communist /socialist state through the banking system. Well done America land of the kept. To big to fail. when the life style starts to fade, with all those guns theirs going to be rivers of blood.
Kansas City Missouri is also high in foreclosures, jobs are almost non exsistent for the common workers that pays enough to live on,, this country is in deep trouble – I knew this would happen back in 2005 !
Amen
No body is buying home in AZ
alot of ppl leave az
those new house for illegal immigrant are all empty
even if they stay here they cant even afford their food how can they pay for their rent
Right on George.
We ain’t seen anything yet, but I agree with you about defaults on a biblical scale.
Real Estate should never have become speculative . . . this is truelly apocolyptic.
george is a fed–check out how many vids he has watched–his computer is on a mainframe
Is that a good or a bad thing? I really don’t understand what you are trying to say.
Yep ! the option arm loans are going to reset in 2010 the next wave of foreclosures “God help us all.”
Got some spam from a Realtor telling me it is a great time to buy. My response was only if you are debt free, have 20% to put down, and realize that Realtors do not have your best interest in mind. Realtor told me not to contact him anymore. I said fine. Please stop spamming me. LOL.