Comments on: The Story the Press Should be Telling http://blownmortgage.com/2008/05/14/the-story-the-press-should-be-telling/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Mon, 09 Nov 2009 22:42:54 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: morganb http://blownmortgage.com/2008/05/14/the-story-the-press-should-be-telling/comment-page-1/#comment-13007 morganb Thu, 15 May 2008 13:41:05 +0000 http://blownmortgage.com/?p=1049#comment-13007 great cases in point Raoul! great cases in point Raoul!

]]> By: Raoul Badde http://blownmortgage.com/2008/05/14/the-story-the-press-should-be-telling/comment-page-1/#comment-13006 Raoul Badde Thu, 15 May 2008 13:37:27 +0000 http://blownmortgage.com/?p=1049#comment-13006 Brentwood: 3bed/2+bath, 2-3 car, pool or not..$336k newish sub-division REO purchase. <br>FHA Financing. the couple is spending $2200 on rent.. $2400 on mortgage after the move.<br>Saving money! Totally awesome. Same home would have sold for $600-$650k just 2-1.5 years ago. <br>Modesto: same as above but using purchase price of: $175-220 where it would have sold for $350-$415 two years ago. <br>I am waiting for the wind to get sucked out of the sails in the "higher" end markets. <br>Those with median prices over $600k that lived and died by pay-option and IO notes.<br>The over-built (modesto/brentwood) areas are getting their relief early (First in First out?).<br>SF, Marin, Peninsula, Fremont, San Jose etc.. more to come since 80% of those markets were stated income. Brentwood: 3bed/2+bath, 2-3 car, pool or not..$336k newish sub-division REO purchase.
FHA Financing. the couple is spending $2200 on rent.. $2400 on mortgage after the move.
Saving money! Totally awesome. Same home would have sold for $600-$650k just 2-1.5 years ago.
Modesto: same as above but using purchase price of: $175-220 where it would have sold for $350-$415 two years ago.
I am waiting for the wind to get sucked out of the sails in the “higher” end markets.
Those with median prices over $600k that lived and died by pay-option and IO notes.
The over-built (modesto/brentwood) areas are getting their relief early (First in First out?).
SF, Marin, Peninsula, Fremont, San Jose etc.. more to come since 80% of those markets were stated income.

]]>