My neighbor has not paid his mortgage in 4 years. His house has been listed as a short sale for over

One of the biggest predictors for future foreclosure is negative equity.  In the current housing market, it is hard to tell how many people are still in a negative equity position. The challenge of course has been due to quickly rising home values brought on by investors and historically low interest rates .  One interesting tool now added to ForeclosureRadar is the ability to search for current properties in negative equity positions.  In other words, car rentals with bike racks in frankfurt germany the amount of loans on the property are worth more than the current market value of the home.  What is surprising, in a county like Los Angeles where the median price is up 17 percent over the year, we have nearly the same amount of people in LTV positions of 100 percent or higher as we do for homes listed on the MLS for sale.  Let us take a look at Los Angeles County more closely and try to get a figure of those 100+ LTV properties.
Negative equity is the number one predictor for future car rentals with bike racks in frankfurt germany foreclosure.  The discussion of underwater homeowners has largely been pushed aside because the housing market has been on a tear upwards for the last year or so.  Yet we still have a very high number of people in negative equity positions.  Let us take a look at Los Angeles County for the number of distressed homeowners with LTV ratios higher than 100 percent:
I really like this new tool by ForeclosureRadar.  We went ahead and searched for properties where LTV is higher than 100 percent and that were in some stage of foreclosure (i.e., NOD, auction schedule, bank owned).  For Los Angeles County 12,700 properties hit this criteria.  Is this a lot?  Given that the MLS only has 13,900 homes listed for Los Angeles County, car rentals with bike racks in frankfurt germany this is a massive number and keep in mind this data is up to date and factors in the boom of the last year where property values have surged.
Based on the last month of sales data for Los Angeles, car rentals with bike racks in frankfurt germany there is only 2.6 months of inventory.  That is incredibly low.  Normal markets typically carry 6 months of available inventory. Yet we have discussed the trend of the last two years where available inventory for sales has virtually disappeared .  The fact that many are still underwater even in SoCal where many properties are selling at or above their peak bubble prices demonstrates the kind of leverage people took on.  I should add that many first time buyers are diving into major leverage via FHA insured loans just to have a chance to compete against the all-cash investor pool.  Even with that, many agents are preferring to work with all cash-buyers since the escrow close is clean and quick.  Sorry regular buyers, car rentals with bike racks in frankfurt germany you are now last in line in the hierarchy of home buying.
One of the more telling figures regarding what people car rentals with bike racks in frankfurt germany are able to afford is the figures on the typical monthly mortgage payment taken by buyers.  What we find is that buyers are very constrained when it comes to their monthly nut but lower rates have added a deeper level of leverage and of course the incredibly high number of all cash buying (in SoCal it was up to 34 percent last month).  Take a look at the typical mortgage payment taken by those with an actual mortgage:
The typical mortgage payment is at decade lows.  As we have seen from forums and the current mania, SoCal households are willing to leverage every cent they have into housing just to squeeze in.  The above chart gives you a clear picture of what people are able to afford.  Which of course car rentals with bike racks in frankfurt germany makes sense, since household incomes have been stagnant for over a decade.
The money-junkies keep homes off of the market to create car rentals with bike racks in frankfurt germany an artificial shortage to drive housing prices up, to make more money on the financing. Were housing cheap enough where you could pay it off in just five years, you would be free of the bankers and they cannot have that. The goal of the bankers is for housing to cost so much you will spend a lifetime of servitude working to pay it off, finishing just when you die or are too old to be of any further use.
No one is putting a gun to your head to carry a large mortgage and be a debt slave. Anyone can move areas where housing is very cheap, $100 to $200K. car rentals with bike racks in frankfurt germany You don t need to spend a life time in servitude to the Banksters. However, it is easier said than done.
Hmmmm. car rentals with bike racks in frankfurt germany From my experience, car rentals with bike racks in frankfurt germany the locations in this country that have low-cost housing also have jobs that pay very low wages on the average, if such jobs exist at all. That is, these sorts of houses are in areas that match the local economy. Wages in places like SoCal and the Bay Area of CA tend to pay a lot more, and their housing is also more expensive.
True on how to not be a slave to the banksters. I think it s easier said than done for two reasons: 1) Is the income high enough to dramatically lessen the length of the loans? 2) Hard to spend $100K in areas where housing should be half that and you have different weather/social atmosphere than what you may prefer.
I nominate you for President! You sir, have summed it up ever so perfectly. Years ago, I took real estate course because I wanted in invest car rentals with bike racks in frankfurt germany in it and later did. I remember the graph showing a 30 year mortgage and the first 15 years the payments went primarily to lender and then split in the buyers side after 15 years. I thought What a great scam! The best thing you can do is a 10-15 year mortgage and concentrate your energy paying off as soon as possible. One problem is the bankers will then have less money to play with, at your expense, and the consumer driven economy would change as well (less money to buy junk you never use). Your comments were spot on, but the American public car rentals with bike racks in frankfurt germany can t think for themselves and no one is telling them the truth either. Congratulations, you are awake!
I think it is worse than that. There are people in gov t who think private property car rentals with bike racks in frankfurt germany is the problem car rentals with bike racks in frankfurt germany in this country. With 95% of loans going thru Fanny or Freddy, the gov t is really the biggest landlord. That is NOT a good situation. PROFIT is not the motivation for the gov t to keep houses in inventor, CONTROL/POWER is.
As usual, thanks for this latest tool of analysis but it still doesn t really car rentals with bike racks in frankfurt germany complete the picture, does it? There are so many contradictory sources right now, I m glad I don t have to decipher what s really true and what isn t.
I think the Fed s plan is to eventually wipe out 1, 2, 5 and 10 yr debt and make it all 30 years. Then they don t have to worry about the interest rate going up on servicing the debt, and keeping this thing going for a good long while.
If we can t figure car rentals with bike racks in frankfurt germany out a solution in 30 years, we deserve Greece. As I ve said before, a yet-unknown energy boom or the cure for cancer is worth trillions. Someone thinks something big up every 20 years.
That s an interesting point and if the government takes it s foot off of the necks of the budding entrepreneurs who ve always car rentals with bike racks in frankfurt germany been the backbone of our country, we just might get there. To take just one example, recent developments regarding advances on the state of lithium batteries might be one thing to keep an eye on:
Of the nation s 10 most expensive medical conditions, cancer has the highest per-person price. The total cost of treating cancer in the U.S. rose from about $95.5 billion in 2000 to $124.6 billion in 2010, the National Cancer car rentals with bike racks in frankfurt germany Institute estimates. The true tab is higher — the agency bases its estimates on average costs from 2001-2006, before many expensive treatments came out
I hate to sound like a heartless banker but the cure for cancer is a feel good scenario that will not have a major impact on the overall economy. Reading D Fresh s reply it may actually have a negative result. Disclaimer, I am a twice survivor of cancer.
My take is that cancer does not impact everyone in society. Energy on the other hand could be the cancer car rentals with bike racks in frankfurt germany of the economic future. Energy is essential to each and everyone of us on this planet ergo it is a major driver. So an astounding breakthrough in energy generation and or energy conservation with staying power over time is worth trillions just in the short term.
An interesting anecdote on this; a major energy breakthrough car rentals with bike racks in frankfurt germany gave the US the edge in winning WWII. That breakthrough the astounding kilowatt capacity provided by the recently completed hydro-power dams.
Yes, a large amount of homes underwater. But that inventory is constantly shrinking due to 17% per year home price increases . I want to relocate(sell and buy), but as we know there is a lot of junk for sale(of car rentals with bike racks in frankfurt germany course MY home is not junk) and the market is not good for buyers at this time for all the reasons we know. So I will sit tight for another car rentals with bike racks in frankfurt germany year of so(until Uncle Ben pulls the plug?). In this market, it must be hard for buyers to get government lenders to appraise the property at the same price that a cash buyer is ready and willing to pay without the hassle of dealing with lender appraisers.
How many homes are under wanter, not paying their payments and the bank as not filed an NOD? There are still many people not paying a cent to live in their homes for years. The banks are depserately trying to reinflate the real estate car rentals with bike racks in frankfurt germany bubble but will it work if people don t have jobs? Companies are not really hiring due to health care reform and tax hikes. Negative growth in last report. When inflation car rentals with bike racks in frankfurt germany hits 10% foreign investors will pull their money out of US and this bubble will pop.
Solution is easy; just give more zero-down mortgages out with little car rentals with bike racks in frankfurt germany or no job verification. Works every time! It s so much fun my neighbor said he just may go shopping car rentals with bike racks in frankfurt germany for 2 or 3 zero down houses next weekend in his brand new zero-down BMW.
My neighbor car rentals with bike racks in frankfurt germany has not paid his mortgage in 4 years. His house has been listed as a short sale for over 16 months, pending short sale for 15 months now. What the heck? Why have they not closed? Or been foreclosed on? How is he pulling this off? BTW it was listed under market value.
car rentals with bike racks in frankfurt germany On the other hand, I went to an open house on Sunday, in my area. It was jam packed and three families were scrambling to write offers on the spot. AND the property was $30,