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Old 12-17-2007, 11:26 AM
 
Location: Las Vegas, NV
403 posts, read 757,094 times
Reputation: 209
Impact of Fed Rate Cuts on Mortgage Rates

Despite 100 BP of Fed cuts in 2007, mortgage rates have remained virtually unchanged:

MarketWatch, Dec. 13 - "The 30-year fixed- rate mortgage averaged 6.11% this week, up from last week's 5.96% average. The 30-year averaged 6.12% a year ago."

http://www.marketwatch.com/news/story/us-mortgage-rates-move-up/story.aspx?guid=%7B296A1FE2-90E6-4756-B737-6C88C2265F76%7D
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Old 12-19-2007, 11:06 AM
 
289 posts, read 668,355 times
Reputation: 81
Wednesday December 19

US Foreclosure Filings Up 68 Percent in November Over Same Month Last Year

LOS ANGELES (AP) -- U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company.

Nevada, Florida and Ohio had the highest foreclosure filing rates in the country last month, RealtyTrac said.

Nevada reported one foreclosure filing for every 152 households, earning the state the highest rate in the nation for the 11th month in a row. The state had 6,694 filings in November, up 1 percent from October and up 167 percent from November 2006.

http://biz.yahoo.com/ap/071219/foreclosure_rates.html (broken link)
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Old 12-19-2007, 12:31 PM
 
Location: Beautiful Upstate NY!
12,244 posts, read 15,994,348 times
Reputation: 5591
1:152!!!!.....oops-sie
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Old 12-19-2007, 12:56 PM
 
50 posts, read 123,388 times
Reputation: 18
This will lead to more foreclosures.
http://www.lvrj.com/business/12623816.html (broken link)
FORECLOSURE RELIEF: Tax break on house, by House

Quote:
Originally Posted by dude66 View Post
Wednesday December 19

US Foreclosure Filings Up 68 Percent in November Over Same Month Last Year

LOS ANGELES (AP) -- U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company.

Nevada, Florida and Ohio had the highest foreclosure filing rates in the country last month, RealtyTrac said.

Nevada reported one foreclosure filing for every 152 households, earning the state the highest rate in the nation for the 11th month in a row. The state had 6,694 filings in November, up 1 percent from October and up 167 percent from November 2006.

http://biz.yahoo.com/ap/071219/foreclosure_rates.html (broken link)
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Old 12-19-2007, 01:07 PM
 
Location: Beautiful Upstate NY!
12,244 posts, read 15,994,348 times
Reputation: 5591
Quote:
Originally Posted by smalldog View Post
This will lead to more foreclosures.
http://www.lvrj.com/business/12623816.html
FORECLOSURE RELIEF: Tax break on house, by House
I don't think it will lead to more....nor do I think it will help. If these homeowners couldn't afford the mortgage payments to keep their houses...they certainly weren't going to be able to afford the tax on any debt-forgiveness, anyway.

Kind of like kicking a dead horse...it is dead already!
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Old 12-20-2007, 11:04 AM
 
289 posts, read 668,355 times
Reputation: 81
Have yourself a subprime little Christmas

(AP) -- Jackie Castleberry won't be playing Santa Claus this year.

Moderator cut: copyright

continues...

http://www.cnn.com/2007/US/12/10/subprime.christmas.ap/index.html (broken link)

Last edited by Marka; 01-02-2008 at 02:10 AM..
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Old 12-20-2007, 01:19 PM
 
Location: Mountain Ranch, CA The heart of Calaveras County
5,938 posts, read 10,526,345 times
Reputation: 4568
Quote:
Originally Posted by jfkIII View Post
1:152!!!!.....oops-sie
A little more than half of one percent. Stockton CA has a 1:32 foreclosure rate
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Old 12-20-2007, 01:45 PM
 
Location: Las Vegas, NV
2,411 posts, read 5,119,508 times
Reputation: 771
I heard this on the radio- that 70% of forclosures in las Vegas were from investors? is this true?
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Old 12-20-2007, 01:54 PM
 
Location: Beautiful Upstate NY!
12,244 posts, read 15,994,348 times
Reputation: 5591
Quote:
Originally Posted by DMenscha View Post
A little more than half of one percent. Stockton CA has a 1:32 foreclosure rate
A little more than 3%.
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Old 12-20-2007, 02:05 PM
 
Location: Las Vegas, NV
403 posts, read 757,094 times
Reputation: 209
Quote:
Originally Posted by AAPoolServiceLV View Post
I heard this on the radio- that 70% of forclosures in las Vegas were from investors? is this true?
Although there are certain organizations such as RealtyTrac and Foreclosure.com that release foreclosure rates for non-owner occupied properties in Las Vegas, to my knowledge, these reports are usually based on exceptionally poor methodology. RealtyTrac, for example, has acknowledged that their numbers regularly "double count" foreclosures when the owner has a first and a second mortgage.

I simply don't have the time or the inclination to pull together a highly precise report, but I have done small sample studies and I do receive the Notice of Sale list that comes out every couple of days.

Although a very large percentage of properties being taken back by the bank show the defaulting owner with a mailing address different than the property address, it's no where near 70%.

My best guess is it's at the high-end of the 30% - 40% range.
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