Regarding Foreclosure Filings, last year we were having close to 30,000 a week. BUT that is not really a good picture of our economy because as we all know from paying our credit cards that banks would claim you were late in sending your payment when in fact it was their clerk or their computer who was sleeping and failed to record your payment on time. They can afford to do this because it benefits them directly to get their payment WAY ahead of time - like in bi-monthly payments. And we should all be too familiar with this collection techniques by now because this is nothing new to us all and to use these banks as an indicator of how our economy is doing is not really smart. Don't you think the media does not know this? Of course they do. So what is truly going on? That is still a mystery but what can we do? never VOTE incumbents http://www.consciousmedianetwork.com/news.htm
--- On Thu, 8/14/08, Ogi <[EMAIL PROTECTED]> wrote: From: Ogi <[EMAIL PROTECTED]> Subject: [ronpaul-541] Fw: US Market may have reached rock bottom To: [EMAIL PROTECTED] Date: Thursday, August 14, 2008, 6:56 PM --- On Thu, 8/14/08, Asset Protection <lasvegasrentals@ yahoo.com> wrote: From: Asset Protection <lasvegasrentals@ yahoo.com> Subject: US Market may have reached rock bottom To: election_volunteers @yahoogroups. com Date: Thursday, August 14, 2008, 9:37 PM To speed disposition of the 54,000 foreclosed properties it owns, Fannie Mae is opening offices in California and Florida and is considering selling those properties in bulk to investors. ========== What that means - prices are going up as soon as it does because investors will not sell for less. 2nd Indicator: Zero Down Loan Programs to be taken off the market by October 1st. That could mean we are out of the buyers market. 3rd Indicator: 55% foreclosure filings - there was a time when we were up at 350%. http://www.lvrj. com/business/ 26946479. html Aug. 14, 2008 Copyright © Las Vegas Review-Journal MORTGAGE MELTDOWN: U.S. foreclosure filings surge 55 percent Florida area at top of cities; Las Vegas ranked fifth By ALAN ZIBEL THE ASSOCIATED PRESS - Housing in Southern Nevada - http://VegasRealEst ateClub.LAS. MLXchange. com Click image for enlargement. WASHINGTON -- The number of homeowners stung by the dramatic decline in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with the same month a year ago, according to data being released today. Nevada, California, Florida, Arizona, Ohio, Georgia and Michigan had the highest foreclosure rates. Foreclosure filings increased from a year earlier in all but eight states. Share & Save What is this? Most Popular Stories INSIDE GAMING: Echelon shutdown getting rave reviews Investors may regret shying away from LV Caesars addition still on track Las Vegas home sales climb higher in July NEVADA GAMING WIN: Latest decrease 'ain't bad' Power users may face shutoff MORTGAGE MELTDOWN: U.S. foreclosure filings surge 55 percent General Growth faces financial shortfall In lawsuit, Realtor accuses paper, reporter of ruining career LAS VEGAS CONVENTION AND VISITORS AUTHORITY: Agency rethinks project slate In the RealtyTrac report, the Cape Coral-Fort Myers area in Florida was the metro area with the highest rate of foreclosure, followed by three California cities: Merced, Stockton, and Modesto. Las Vegas ranked fifth. Nationwide, more than 272,000 homes received at least one foreclosure- related notice in July, up 55 percent from about 175,000 in the same month last year and up 8 percent from June, RealtyTrac said. Irvine, Calif.-based RealtyTrac monitors default notices, auction sale notices and bank repossessions. More than 77,000 properties were repossessed by lenders nationwide in July, the company said. The combination of weak housing sales, falling home values, tighter mortgage lending criteria and a slowing U.S. economy has left financially strapped homeowners with few options to avoid foreclosure. Many can't find buyers or owe more than their home is worth and can't refinance into an affordable loan. As foreclosures soar, banks and mortgage investors are also facing a pileup of foreclosed properties on their books and are cutting prices dramatically. RealtyTrac noted that it had more than 750,000 foreclosed homes in its database of properties for sale, equal to about 17 percent of the 4.5 million U.S. homes that were up for sale in June. To speed disposition of the 54,000 foreclosed properties it owns, Fannie Mae is opening offices in California and Florida and is considering selling those properties in bulk to investors. "I do not think this is a time to be holding onto (foreclosed properties) hoping for a better day," CEO Daniel Mudd said last week. It remains to be seen how much the government's intervention will stem the housing crisis. President Bush last month signed sweeping housing legislation that aims to prevent foreclosures by allowing homeowners to swap their mortgages for more affordable loans, but only if their lender agrees to take a loss on the initial loan. The bill is projected to help about 400,000 households. The number of foreclosures "could start to stabilize as early as the first quarter of next year if the government program gains any traction," said Rick Sharga, RealtyTrac's vice president for marketing. "That's really the unknowable right now." Even with government help, nearly 2.8 million U.S. households will either face foreclosure, turn over their homes to their lender or sell the properties for less than their mortgage's value by the end of next year, predicts Moody's Economy.com. __._,_.___ ***************************************** http://in.groups.yahoo.com/group/investwise/ INVESTMENTS IN INDIA We are low-risk, long-term investors. Stocks, mutual funds and the entire investment gamut. Only financing/investment avenues in India will be discussed. For any assistance, questions or improvement ideas, contact [EMAIL PROTECTED] **************************************************************** NEW! ==== Check our LINKS and FILES sections for a world of information. REGULARLY UPDATED. NEW! ==== Check "Tracklist" in Links and Files sections for Investment Ideas. **************************************************************** Your email settings: Individual Email|Traditional Change settings via the Web (Yahoo! 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