10 Things We Know FOR-clo-SURE

July 2, 2009

10 things we know FOR SURE are:
1. Not all Foreclosures are being stalled by the moratorium.
California Foreclosure Prevention Act imposed a 90-day moratorium on housing foreclosures under a new law that took effect Monday.  California Assemblyman Ted Lieu said “We’re getting about 80 to 90,000 foreclosure filings every month. That’s one every 30 seconds”
What else [...]

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Famous In Foreclosure

June 12, 2009

Please consider…
Stephen Baldwin’s foreclosed home to be auctioned

NEW YORK – Actor Stephen Baldwin’s foreclosed home in the suburbs north of New York City will be publicly auctioned.
Baldwin paid $515,000 for the 1.4-acre home in Rockland County in 1997. In 2006, he tried unsuccessfully to sell it.
County filings show Baldwin and his wife Kennya defaulted [...]

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Housing Recovery May Take More Than 10 Years

May 21, 2009

In Fort Meyers Florida,  a home that sold for $500,000 in 2006 may now be worth only $205,000. The % of decline from the peak in Ft Meyers is 59%.  Listen carefully to this very sobering fact,  it would take appreciation of 144% for the homeowner to get back to the purchase value of $500,000.
To [...]

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Foreclose and “Work the System” *

May 14, 2009

Tom in California has a $550,000 condo with a $4k payment a month.
Tom’s income drops, home value drops, 401k value drops.
Tom is not happy. Tom thinks about selling his Mercedes.
Tom stays up late at night thinking how can I save Tom’s A$$.
Tom devises a plan to legally work the system.
Tom stops paying his mortgage and [...]

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2009 Housing False Bottom

May 11, 2009

It’s a great time to buy!?
People always ask me, “Is it a good time to buy a house? Are we at the bottom?”
I typically say:
Well, if the lenders/banks are still sitting on 600,000 – 700,000 in REO properties, then certainly it’s not a good time to buy. Unless of course you don’t care about losing [...]

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Parents in Foreclosure Move Into Their Daughters Home.

May 5, 2009

It’s a different time we live in.  One may be used to kids moving back in with mom & dad, however now we are starting to see parents in foreclosure moving into one of their grown kids homes.
Today I saw an interesting sight.  In the above photo, a middle aged man wearing a suit and [...]

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e-CON-omy

April 30, 2009

The AP reported that American consumers are snapping back to life, kindling springtime hopes that the recession is losing steam. See below.

Even though the U.S. economy shrank again in the first three months of the year — and by a lot — Americans stepped up their purchases of cars, furniture and appliances. The surge in [...]

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I Hate Jingle Mail

April 20, 2009

Jingle Jingle
I can’t stand it when I read about Jingle mail.  It’s such a cute sounding phrase but it drives me nuts.  I think it is pretty silly to assume that if you send your keys to the lender… they will take back your house and that’s that.  It’s like thinking if you put [...]

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After all, It’s Just a House.

April 9, 2009

After 6 sets of blueprints,  300 pounds of nails, wood boards, steel re-bar welded together for a concrete frame, 2×4’s, 2×6’s and fiber board.  After the plumbing and drainage, electricity and insulation, PVC pipe, faucets, water heaters, toilets, sinks, breaker boxes, wires, outlets, switches, fixtures and rolls of insulation, water proof glue and sealant and so [...]

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Get On With Your Life

April 6, 2009

Fighters
In America, we are fighters.  Through history we have seen our country rise up in time of crisis, go after the enemy when we are threatened or attacked.  We aren’t a bunch of lazy people that let our dreams and our hopes sit on the side lines and never be realized.  But bad things happen [...]

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