Re: [CGUYS] "HOME" OWNERSHIP
there was almost nothing to regulate during bush1 and even clinton. the boom started after the gramm introduced methods of handling(slicing) the bundled mortgages. the real growth did not start until the second bush2 term. At 04:06 AM 2/4/2009, you wrote: >On Sat, Jan 31, 2009 at 5:58 PM, rleesimon wrote: > >> it's an obamarama! > > >More of a Bush Up. Failing to have the regulators regulate for eight years >is part of the problem. It probably started in Clinton or the older Bush >although I have heard people blaming Reagan for all this. > >> >> -Original Message- >> From: gerald [mailto:ger...@slawecki.com] >> Sent: Saturday, January 31, 2009 4:41 PM >> Subject: Re: "HOME" OWNERSHIP >> >> >> tom, i'm not going to dig it up, but the wash post had a large story about >> the poor lady in woodbridge who has a house in foreclosure. and is now >> owned >> by fnm. >> >> she upped the mortgage and took the cash to get a better house.(the house >> was valued around 225-250k). i do not know what she purchased. >> >> around 30% of the houses in the original group became >> distressed(foreclosed). >> >> rents in the area dropped from $2000 a month to under $1000 a month(called >> a >> dutch auction), as everybody was playing the sell it and move game. >> >> she could not afford to pay for her new home, and the house she was specing >> with $800 rent, as payments piti were around 2000/mo. >> >> house was foreclosed by fnm and went into the pile. since we do supply and >> demand on stuff like this, house is sitting on market at 130k or something >> like that, while offers are at 80k. >> >> this is a bit of a special circumstance, as this is prince william county >> virginia, where the ruling fathers have decided to export all non-wasps, or >> at least check them daily to be certain they are qualified as psuedo wasps. >> they are a bit uncomfortable attacking afro americans, but all hispanics, >> indians, have been abused to the place that they have left. fortunately >> for >> them, most sold before the crash. >> >> >> >> >> At 04:10 PM 1/31/2009, you wrote: >> >>a very high percentage of the houses being foreclosed are not HOMES. >> >>i'm >> >>pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a >> >>very divided family to need 4 "homes". this stuff belonged to either >> >>speculators, or to innocents that decided to take their money out of >> their >> >> >>original home and buy a bigger one, leaving behind a house/building. >> > >> >Interesting point. If that is the case why does an income-producing >> >property go into foreclosure? Did all of the tennants in these areas get >> >whiped out in a cataclysm that the government is keeping secret? >> >Something else must have happened to cause this sequence of events. What? >> > >> > >> >*** >> >** >> >** List info, subscription management, list rules, archives, privacy ** >> >** policy, calmness, a member map, and more at http://www.cguys.org/ ** >> >* >> >> >> * >> ** List info, subscription management, list rules, archives, privacy ** >> ** policy, calmness, a member map, and more at http://www.cguys.org/ ** >> * >> >> >> * >> ** List info, subscription management, list rules, archives, privacy ** >> ** policy, calmness, a member map, and more at http://www.cguys.org/ ** >> * >> > > > >-- >John Duncan Yoyo >---o) > > >* >** List info, subscription management, list rules, archives, privacy ** >** policy, calmness, a member map, and more at http://www.cguys.org/ ** >* * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
On Sat, Jan 31, 2009 at 5:58 PM, rleesimon wrote: > it's an obamarama! More of a Bush Up. Failing to have the regulators regulate for eight years is part of the problem. It probably started in Clinton or the older Bush although I have heard people blaming Reagan for all this. > > -Original Message- > From: gerald [mailto:ger...@slawecki.com] > Sent: Saturday, January 31, 2009 4:41 PM > Subject: Re: "HOME" OWNERSHIP > > > tom, i'm not going to dig it up, but the wash post had a large story about > the poor lady in woodbridge who has a house in foreclosure. and is now > owned > by fnm. > > she upped the mortgage and took the cash to get a better house.(the house > was valued around 225-250k). i do not know what she purchased. > > around 30% of the houses in the original group became > distressed(foreclosed). > > rents in the area dropped from $2000 a month to under $1000 a month(called > a > dutch auction), as everybody was playing the sell it and move game. > > she could not afford to pay for her new home, and the house she was specing > with $800 rent, as payments piti were around 2000/mo. > > house was foreclosed by fnm and went into the pile. since we do supply and > demand on stuff like this, house is sitting on market at 130k or something > like that, while offers are at 80k. > > this is a bit of a special circumstance, as this is prince william county > virginia, where the ruling fathers have decided to export all non-wasps, or > at least check them daily to be certain they are qualified as psuedo wasps. > they are a bit uncomfortable attacking afro americans, but all hispanics, > indians, have been abused to the place that they have left. fortunately > for > them, most sold before the crash. > > > > > At 04:10 PM 1/31/2009, you wrote: > >>a very high percentage of the houses being foreclosed are not HOMES. > >>i'm > >>pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a > >>very divided family to need 4 "homes". this stuff belonged to either > >>speculators, or to innocents that decided to take their money out of > their > > >>original home and buy a bigger one, leaving behind a house/building. > > > >Interesting point. If that is the case why does an income-producing > >property go into foreclosure? Did all of the tennants in these areas get > >whiped out in a cataclysm that the government is keeping secret? > >Something else must have happened to cause this sequence of events. What? > > > > > >*** > >** > >** List info, subscription management, list rules, archives, privacy ** > >** policy, calmness, a member map, and more at http://www.cguys.org/ ** > >* > > > * > ** List info, subscription management, list rules, archives, privacy ** > ** policy, calmness, a member map, and more at http://www.cguys.org/ ** > * > > > * > ** List info, subscription management, list rules, archives, privacy ** > ** policy, calmness, a member map, and more at http://www.cguys.org/ ** > * > -- John Duncan Yoyo ---o) * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
>this is a bit of a special circumstance, as this is prince william county >virginia, where the ruling fathers have decided to export all non-wasps, >or at least check them daily to be certain they are qualified as psuedo >wasps. they are a bit uncomfortable attacking afro americans, but all >hispanics, indians, have been abused to the place that they have left. >fortunately for them, most sold before the crash. Well PWCo is definitely a special case. This supposedly conservative county created an intrusive police state. Lots of people (mostly renters) moved away. Their real estate market and local economy crashed. This happened before the national crash. So I guess they got hit twice. * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
it's an obamarama! -Original Message- From: gerald [mailto:ger...@slawecki.com] Sent: Saturday, January 31, 2009 4:41 PM Subject: Re: "HOME" OWNERSHIP tom, i'm not going to dig it up, but the wash post had a large story about the poor lady in woodbridge who has a house in foreclosure. and is now owned by fnm. she upped the mortgage and took the cash to get a better house.(the house was valued around 225-250k). i do not know what she purchased. around 30% of the houses in the original group became distressed(foreclosed). rents in the area dropped from $2000 a month to under $1000 a month(called a dutch auction), as everybody was playing the sell it and move game. she could not afford to pay for her new home, and the house she was specing with $800 rent, as payments piti were around 2000/mo. house was foreclosed by fnm and went into the pile. since we do supply and demand on stuff like this, house is sitting on market at 130k or something like that, while offers are at 80k. this is a bit of a special circumstance, as this is prince william county virginia, where the ruling fathers have decided to export all non-wasps, or at least check them daily to be certain they are qualified as psuedo wasps. they are a bit uncomfortable attacking afro americans, but all hispanics, indians, have been abused to the place that they have left. fortunately for them, most sold before the crash. At 04:10 PM 1/31/2009, you wrote: >>a very high percentage of the houses being foreclosed are not HOMES. >>i'm >>pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a >>very divided family to need 4 "homes". this stuff belonged to either >>speculators, or to innocents that decided to take their money out of their >>original home and buy a bigger one, leaving behind a house/building. > >Interesting point. If that is the case why does an income-producing >property go into foreclosure? Did all of the tennants in these areas get >whiped out in a cataclysm that the government is keeping secret? >Something else must have happened to cause this sequence of events. What? > > >*** >** >** List info, subscription management, list rules, archives, privacy ** >** policy, calmness, a member map, and more at http://www.cguys.org/ ** >* * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** * * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
tom, i'm not going to dig it up, but the wash post had a large story about the poor lady in woodbridge who has a house in foreclosure. and is now owned by fnm. she upped the mortgage and took the cash to get a better house.(the house was valued around 225-250k). i do not know what she purchased. around 30% of the houses in the original group became distressed(foreclosed). rents in the area dropped from $2000 a month to under $1000 a month(called a dutch auction), as everybody was playing the sell it and move game. she could not afford to pay for her new home, and the house she was specing with $800 rent, as payments piti were around 2000/mo. house was foreclosed by fnm and went into the pile. since we do supply and demand on stuff like this, house is sitting on market at 130k or something like that, while offers are at 80k. this is a bit of a special circumstance, as this is prince william county virginia, where the ruling fathers have decided to export all non-wasps, or at least check them daily to be certain they are qualified as psuedo wasps. they are a bit uncomfortable attacking afro americans, but all hispanics, indians, have been abused to the place that they have left. fortunately for them, most sold before the crash. At 04:10 PM 1/31/2009, you wrote: >>a very high percentage of the houses being foreclosed are not HOMES. i'm >>pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a >>very divided family to need 4 "homes". this stuff belonged to either >>speculators, or to innocents that decided to take their money out of their >>original home and buy a bigger one, leaving behind a house/building. > >Interesting point. If that is the case why does an income-producing >property go into foreclosure? Did all of the tennants in these areas get >whiped out in a cataclysm that the government is keeping secret? >Something else must have happened to cause this sequence of events. What? > > >* >** List info, subscription management, list rules, archives, privacy ** >** policy, calmness, a member map, and more at http://www.cguys.org/ ** >* * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
In many cases it was a shrinking of the market and falling prices. People bet on an increasing market frenzy and got in over their heads, I guess. Stewart At 03:10 PM 1/31/2009, you wrote: Interesting point. If that is the case why does an income-producing property go into foreclosure? Did all of the tennants in these areas get whiped out in a cataclysm that the government is keeping secret? Something else must have happened to cause this sequence of events. What? Rev. Stewart A. Marshall mailto:popoz...@earthlink.net Prince of Peace www.princeofpeaceozark.org Ozark, AL SL 82 * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
At 04:10 PM 1/31/2009, Tom Piwowar wrote: >Interesting point. If that is the case why does an income-producing >property go into foreclosure? Did all of the tennants in these areas get >whiped out in a cataclysm that the government is keeping secret? >Something else must have happened to cause this sequence of events. What? Just speculating, but tenant's leases are generally a year to a few years. When the market drops, they can insist on lower rent or move to a cheaper place. The market rent of today may not cover the mortgage payment of yesterday's mortgage, especially if the mortgage has "reset." * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
Normal 0 false false false EN-US X-NONE HE Normal 0 false false false EN-US X-NONE HE Normal 0 false false false EN-US X-NONE HE You can believe the myths you want. However, there is NO data to substantiate your allegations. The data, as a matter of fact, indicates the opposite. I do believe that the next wave will affect the speculators, since the vacation rental market is now drier than a bone- and the shortages felt by those with the second and third homes will now come. Roy A. Ackerman, Ph.D., E.A.The Adjuvancy, LLC From: gerald Sent: Saturday, January 31, 2009 3:57 PM To: COMPUTERGUYS-L@LISTSERV.AOL.COM Subject: [CGUYS] "HOME" OWNERSHIP > >I am pretty sure 90% of those who lost their homes worked very hard for them >and got screwed and the full weight of the law must come down on the swindlers >who call themselves mortgage brokers and bankers. wrong wrong wrong. a very high percentage of the houses being foreclosed are not HOMES. i'm pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a very divided family to need 4 "homes". this stuff belonged to either speculators, or to innocents that decided to take their money out of their original home and buy a bigger one, leaving behind a house/building. CA,NV, AZ, and FL has a very high percentage of this. nobody wants to talk about how many of the homes are spec owned. either fnm or fre have 20,000 (forgot which) tenant occupied houses that they are considering allowing tenant to stay. fre or fnm only have 5 total foreclosed homes/houses in inventory. 90 % are not homes. another large pile of the fnm/fre houses were not or even never occupied. these are not homes. this is all spec investment. i spec invested in houses a long time ago. could not get more than one fnm/fre loan per house. * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** * * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
Re: [CGUYS] "HOME" OWNERSHIP
>a very high percentage of the houses being foreclosed are not HOMES. i'm >pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a >very divided family to need 4 "homes". this stuff belonged to either >speculators, or to innocents that decided to take their money out of their >original home and buy a bigger one, leaving behind a house/building. Interesting point. If that is the case why does an income-producing property go into foreclosure? Did all of the tennants in these areas get whiped out in a cataclysm that the government is keeping secret? Something else must have happened to cause this sequence of events. What? * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
[CGUYS] "HOME" OWNERSHIP
> >I am pretty sure 90% of those who lost their homes worked very hard for them >and got screwed and the full weight of the law must come down on the swindlers >who call themselves mortgage brokers and bankers. wrong wrong wrong. a very high percentage of the houses being foreclosed are not HOMES. i'm pretty certain that even FNM/FRE allowed up to 4 "home" loans. takes a very divided family to need 4 "homes". this stuff belonged to either speculators, or to innocents that decided to take their money out of their original home and buy a bigger one, leaving behind a house/building. CA,NV, AZ, and FL has a very high percentage of this. nobody wants to talk about how many of the homes are spec owned. either fnm or fre have 20,000 (forgot which) tenant occupied houses that they are considering allowing tenant to stay. fre or fnm only have 5 total foreclosed homes/houses in inventory. 90 % are not homes. another large pile of the fnm/fre houses were not or even never occupied. these are not homes. this is all spec investment. i spec invested in houses a long time ago. could not get more than one fnm/fre loan per house. * ** List info, subscription management, list rules, archives, privacy ** ** policy, calmness, a member map, and more at http://www.cguys.org/ ** *
