Foreclosures up, up up !!!!

[Antisocial]

here in new jersey ( central) median house is 500K thats for a starter! there are alot of people doing intrest only loans & its catching up now.. i had a house on 2 lots. i built 2 . they were both listed at 869... the one sold for 840 & the other sold for 775,... just 2 months later, go figure same house same size? :cry:

[wsuwrhr]

I call bullshit,
There aren't any foreclosures in Alta Loma, Rancho Cucamonga, or Upland.
I'll buy it.
Brian

[PBOCOP]

Would you like to place a wager on that ?

[wsuwrhr]

Would you like to place a wager on that ?
Show me then, I put posts up asking for some type of foreclosure hookup for a ***boat member, nothing.
Brian

[Roxysnow]

Your absolutely right (IMO), just like the stock market did about 7-8 years ago, Just prior to the housing market boom. Hey... Market up housing down... Market down, housing up???? WTF??? Is this a pattern???
It sure is a pattern! Real estate market is always up and down. And the market is dumping because of the low rates 3-4 years ago. Homes then were never worth what was being asked but the affordability of rates allowed homes to spike. But it'll go up eventually. Unfortunately, the LOW LOW rates 3-4 years ago allowed people to afford way more than they should have been able to buy. Not to mention the amount STATED loans being done currently is only going to the foreclosure % more. In addition, when the interest rates were at an all time low, people should have been taking advantage of the fixed rates!

[locogringo]

wsu...
I know I know. You need to be patient though.
Since the beginning of November, there are 25 NOD's just in Rancho Cucamonga.
I am working on two of them with the bank.
When I get acceptance I'll let you know.
Paaayyyshunce grasshopper!

[wsuwrhr]

Hey cool LG,
I PM'ed a couple times for status and I didn't get any reply.
I have plenty of patience o wise one......
Thank you.
Brian
wsu...
I know I know. You need to be patient though.
Since the beginning of November, there are 25 NOD's just in Rancho Cucamonga.
I am working on two of them with the bank.
When I get acceptance I'll let you know.
Paaayyyshunce grasshopper!

[socalmofo]

wsu...
Since the beginning of November, there are 25 NOD's just in Rancho Cucamonga.
An N.O.D. is a long ways from a foreclosure. Any of these foreclosure junkies care to state what percent of N.O.D.'s actually become R.E.O.?

[C-2]

---- hmmmm ----
Aren't the banks also regulated by how many bad loans they can carry? Afterall, sounds like a good deal to cash out equity, say you can't pay, then walk away with tons of cash in hand after crying the blues.
Isn't there a threshold the banks will reach before no more worky worky?
The real question is WTF are all the REIT's gonna do with their REO inventories?
We needs to know

[YeLLowBoaT]

---- hmmmm ----
Afterall, sounds like a good deal to cash out equity, say you can't pay, then walk away with tons of cash in hand after crying the blues.
Thats happening alot. I have been on several bid on houses where that happend. Infact one happend right around the corner from my dad. a retired couple with a payed off house( that was falling down and a eyesore) got 480k then walked away from it.