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Old 07-23-2006, 05:00 PM
 
1,868 posts, read 5,669,681 times
Reputation: 536

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Quote:
Originally Posted by TornadoAlley
Pre-foreclosure, NOT foreclosure! You are wording things to benefit your arguement. Play fair. I said Texas had more foreclosures.
removed

Also, California had 44k preforeclosure BUT 3332 foreclosure! Looks like they were able to sell OR catch up. Lets look at Texas shall we?
Texas had 10650 preforeclosure and.......11179 foreclosures. What does that tell you? They couldn't sell nor catch up do to jobs or what not.
Do you even know what pre foreclosure is? I understood every word you said. I know the difference between pre foreclosure and foreclosure, thanks!
I also know how to go to the site you went to. Saw the same thing you did.
Texas didnt have the appreciation Cali did therefore when a Texan ran into trouble they couldn't sell for a big profit and get out like California. Now that the crazy appreciation is coming to an end....alot of homeowners there are going to be in trouble. I talked to a guy last week that works for a bio tech company. He said they had to move the company out here from San Diego because they were having trouble recruiting people to SD because of the cost of living. The poor guy is still trying to sell his home out there after 6 months. This is one of many stories like this I've heard.

Last edited by Yac; 07-24-2006 at 03:10 PM..
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Old 07-23-2006, 08:48 PM
 
1,126 posts, read 3,845,526 times
Reputation: 426
Quote:
Originally Posted by shannon94
Do you even know what pre foreclosure is? I understood every word you said. I know the difference between pre foreclosure and foreclosure, thanks!
I also know how to go to the site you went to. Saw the same thing you did.
Texas didnt have the appreciation Cali did therefore when a Texan ran into trouble they couldn't sell for a big profit and get out like California. Now that the crazy appreciation is coming to an end....alot of homeowners there are going to be in trouble. I talked to a guy last week that works for a bio tech company. He said they had to move the company out here from San Diego because they were having trouble recruiting people to SD because of the cost of living. The poor guy is still trying to sell his home out there after 6 months. This is one of many stories like this I've heard.
Yes I do Are you sure your over 30yr? Your attitude says different. You come across as a 19yrs who knows it all because she saw an ad from another 19 yr who also thinks he knew it all Funny how you didn't comment on how my stats where I was right and you were wrong. There is a difference between pre and foreclosure. Instead of fighting with us (were not your husband) try to understand where were coming from.

The sad part about Shannon is two people on here have tried to tell her she is looking at it wrong, and she questions us...lol!
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Old 07-23-2006, 09:38 PM
 
1,868 posts, read 5,669,681 times
Reputation: 536
Quote:
Originally Posted by TornadoAlley
Yes I do Are you sure your over 30yr? Your attitude says different. You come across as a 19yrs who knows it all because she saw an ad from another 19 yr who also thinks he knew it all Funny how you didn't comment on how my stats where I was right and you were wrong. There is a difference between pre and foreclosure. Instead of fighting with us (were not your husband) try to understand where were coming from.

The sad part about Shannon is two people on here have tried to tell her she is looking at it wrong, and she questions us...lol!
If your talking about the stat that there are 3332 FORECLOSURES in Cali, I never argued that. I was simply saying that there are ALSO 44k in PRE foreclosure status. Pre foreclosures are on their way to foreclosure if the homeowner does not bring it current. These are not people who are simply a month behind. Do you not find the 44k number large? Foreclosure numbers always lag the pre foreclosure. Cali will see a large increase shortly.
Believe what you want....this forum is for the exchange of ideas, thoughts, and information. Not everyone is going to agree.
I never fight with my husband....he is wonderful! And I only wish I were 19 again and know what I know now!! lol
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Old 07-23-2006, 10:36 PM
 
1,736 posts, read 4,730,311 times
Reputation: 1445
Just more fuel for the fire.

Myth no. 1: A big spike in foreclosures is right around the corner.
If you've been waiting for the McMansions in your town to start going on the auction block, your wait isn't over just yet. Many homeowners who took short-term adjustable-rate loans or home-equity lines of credit a few years ago are already grappling with higher monthly payments, and more will be doing so next year.

Despite that, the foreclosure rate -- currently less than 1 percent of all loans -- isn't expected to change much in 2006, says Alexis McGee, president of listings Web site Foreclosures.com.

That's because in most of the country, anyone who has owned a home for even a year or two is likely sitting on enough equity to sell or refinance if the loan payments become unaffordable.

Another brake on foreclosures is that banks are no longer playing hardball with strapped homeowners.

"Compared with the late '80s and early '90s, lenders use velvet gloves," says Eldred. "They've realized that giving people a six-month moratorium on payments, stretching out the term on the loan, reducing the rate -- it's still more profitable for them than going through a foreclosure."

Finally, the foreclosure process can be lengthy, ranging from a month to more than a year, depending on state law.

What would push more homeowners over the brink? Hard economic times have always been a catalyst, says Doug Duncan, chief economist at the Mortgage Bankers Association. For example, in states that have recently lost industrial jobs, such as Ohio and Michigan, foreclosures rose significantly in 2005. So if the national economy sours this year, expect a big jump in foreclosures in 2007.

Another catalyst is overbuilding. Regions that have enjoyed a boom in new condominium development -- South Florida, for example -- could soon suffer a spike in foreclosures if investors are unable to rent or unload their condos for a profit.
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Old 07-23-2006, 10:51 PM
 
1,126 posts, read 3,845,526 times
Reputation: 426
Quote:
Originally Posted by shannon94
If your talking about the stat that there are 3332 FORECLOSURES in Cali, I never argued that. I was simply saying that there are ALSO 44k in PRE foreclosure status. Pre foreclosures are on their way to foreclosure if the homeowner does not bring it current. These are not people who are simply a month behind. Do you not find the 44k number large? Foreclosure numbers always lag the pre foreclosure. Cali will see a large increase shortly.
Believe what you want....this forum is for the exchange of ideas, thoughts, and information. Not everyone is going to agree.
I never fight with my husband....he is wonderful! And I only wish I were 19 again and know what I know now!! lol
44k is a lot. But, to me I don't care about who ALMOST lost their home, but more of who did in that state. 44k ALMOST did, but only 3,000 did. Not bad compared to Texas where 11k ACTUALLY did. That doesn't concern you that the home owner just couldn't catch up nor work something out? Does me!
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Old 07-24-2006, 06:09 AM
 
1,868 posts, read 5,669,681 times
Reputation: 536
Quote:
Originally Posted by TornadoAlley
44k is a lot. But, to me I don't care about who ALMOST lost their home, but more of who did in that state. 44k ALMOST did, but only 3,000 did. Not bad compared to Texas where 11k ACTUALLY did. That doesn't concern you that the home owner just couldn't catch up nor work something out? Does me!
ok one more time...that 44k number isn't people who almost lost their home and didn't....it's the current number on their way to foreclosure right NOW. B

As I said before.....Californians had equity to fall back on...Texans didn't. Funny how you didn't address that. Californians have had a way out.....but not for long................and of course I'm not talking about next week.
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Old 07-24-2006, 10:08 AM
 
1,736 posts, read 4,730,311 times
Reputation: 1445
Quote:
Originally Posted by shannon94
ok one more time...that 44k number isn't people who almost lost their home and didn't....it's the current number on their way to foreclosure right NOW. B

As I said before.....Californians had equity to fall back on...Texans didn't. Funny how you didn't address that. Californians have had a way out.....but not for long................and of course I'm not talking about next week.
Were you this bitter, stubborn, and bull headed before you moved to Texas? Or has Texas done that to you?
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Old 07-24-2006, 10:31 AM
 
1,868 posts, read 5,669,681 times
Reputation: 536
Quote:
Originally Posted by RedNC
Were you this bitter, stubborn, and bull headed before you moved to Texas? Or has Texas done that to you?
here ya go...from a law office

But as the housing market slows, experts expect foreclosures to skyrocket in those areas that have experienced the highest appreciation rate - like California, Florida, Virginia and Washington, D.C. "There is a direct correlation between foreclosure sales and market activity," said Dr. James Gaines, a research economist at The Real Estate Center at Texas A&M University. "If the rate of appreciation is not there, then there is an increase in foreclosure sales."

Notice the word skyrocket..........................
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Old 07-24-2006, 11:06 AM
 
1,126 posts, read 3,845,526 times
Reputation: 426
Quote:
Originally Posted by shannon94
ok one more time...that 44k number isn't people who almost lost their home and didn't....it's the current number on their way to foreclosure right NOW. B

As I said before.....Californians had equity to fall back on...Texans didn't. Funny how you didn't address that. Californians have had a way out.....but not for long................and of course I'm not talking about next week.
You say equity to fall back on, I saw Texas just has lack of jobs. They are like silicone valley, either you make it or you don't.
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Old 07-24-2006, 11:54 AM
 
1,126 posts, read 3,845,526 times
Reputation: 426
Quote:
Originally Posted by RedNC
Either you haven't read anything I have posted or your comprehension of the information just doesn’t fit your agenda.

Here are the sources you sent me. Chris Bagley some staff writer for a small newspaper. I believe it was North County. From what I have been able to research about this guy is he mostly writes puff pieces anything form medical marijuana to zoning limits in wine country. I don’t know how much is his research or just notes given to him to shape into a story.
He is definitely not an economist, or any type of expert on real estate or anything to do with the so called “real estate bubble”.

Another source is Will Careless another independent small local San Diego staff writer. As with Chris Bagley, he is also just another opinion piece parrot head.

Lastly is some 30 something bloger that started a website full of his personal opinion not real research of fact.

These people you quote seem to be your peer group 30 something. I’ll paint the following picture, as I know these people all too well.
They grew up in an area (San Diego) where affluence was all around. All they had to do is play, mom and dad didn’t put any pressures on them and anything they wanted they were either given or they pitched a fit to get. Sound familiar so far, I thought so. These privileged kids began to grow up and the house they grew up in they had to leave. That is some leave, a growing problem in CA is kids that never leave their parents home.
Now they had to face reality that they couldn’t start out at the same level of comfort they were leaving. Well that isn’t fare is it? The reality is that mom and dad didn’t tell junior that they didn’t start out in that house either. The reality most likely is that their parents had to struggle to buy that same home. Yep that’s right starting out is a struggle, and moving up is no different. Most people can’t buy the same house as their parents when they start out. Just like their parents they also can’t do it with two new cars, especially if one or more of them are ultra luxury lease vehicles and a house full of new furniture, gadgets, and state of the art toys.
You nailed it!..........
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