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09-29-2008, 09:28 PM
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#1 |
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Demiurge
Join Date: Aug 2005
Posts: 36,365
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Do you know anyone who has been foreclosed on?
If so, state what part of the country.
I don't know a single person that has been foreclosed upon. Maybe if I still went to Ward Council and Bishopric, I would know. |
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09-29-2008, 09:30 PM
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#2 |
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Senior Member
Join Date: Oct 2007
Location: Orange County, CA
Posts: 9,483
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I dont.
But most of the SoCal repo action is in the IE. Or down San Diego way.
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Fitter. Happier. More Productive. "Everyone is against me. Everyone is fawning for 3D's attention and defending him." -- SeattleUte |
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09-29-2008, 09:30 PM
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#3 |
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Board Pinhead
Join Date: Jan 2006
Location: In the basement of my house, Murray, Utah.
Posts: 15,941
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I don't know anyone that has had that happen.
__________________
"The beauty of baseball is not having to explain it." - Chuck Shriver "This is now the joke that stupid people laugh at." - Christopher Hitchens on IQ jokes about GWB. |
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09-29-2008, 09:33 PM
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#4 |
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Assistant to the Regional Manager
Join Date: Aug 2005
Location: The Orgasmatron
Posts: 24,338
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I know many. 20 to 30 percent of existing inventory is REO.
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Ἓν οἶδα ὅτι οὐδὲν οἶδα |
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09-29-2008, 10:15 PM
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#5 | |
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Senior Member
Join Date: Mar 2007
Location: Happy Valley, PA
Posts: 1,866
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Quote:
__________________
I hope for nothing. I fear nothing. I am free. - Epitaph of Nikos Kazantzakis (1883-1957) |
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09-29-2008, 10:16 PM
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#6 |
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Senior Member
Join Date: Mar 2006
Posts: 945
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I don't know anyone personally, but I also live in an area where people I know live within their means.
But I could probably drive past 100-200 houses that I've appraised in the past 2-3 years and see that they are now vacant. I did 3 REO appraisals in the same subdivision the other day, close enough to each other that I just walked. Looking at the transfer histories, some were taken back within 2 months of closing. These subdivisions are going to take years to stabilize. It's a hell of a mess. |
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09-29-2008, 10:17 PM
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#7 |
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Senior Member
Join Date: Jan 2006
Location: Utah
Posts: 5,741
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yes. I know several people including my neighbors that share a back fence.
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LINCECUM! |
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09-29-2008, 10:18 PM
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#8 |
Join Date: Jan 2006
Location: Seattle, WA
Posts: 10,665
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Only 2.8% of the mortgages nationwide are in default. This disaster happened because of the fancy pants derivative securities Wall Street concocted that magnified the problem exponentially just as this was done in the first place to magnify their "profits" and hence income.
Alice in Wonderland in the House of Mirrors. That's where the U.S.A. is right now.
__________________
Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster |
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09-29-2008, 10:19 PM
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#9 | |
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Demiurge
Join Date: Aug 2005
Posts: 36,365
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Quote:
But the root of the problem is that houses became unaffordable. Prices have to come down. |
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09-29-2008, 10:19 PM
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#10 | |
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Join Date: Jan 2006
Location: Seattle, WA
Posts: 10,665
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Quote:
__________________
Interrupt all you like. We're involved in a complicated story here, and not everything is quite what it seems to be. —Paul Auster |
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