Comments on: Foreclosure rate rises to highest since 1979

By: morganb

morganb — Wed, 11 Jun 2008 12:59:05 +0000

Mark - i think there are a whole host of reasons - inflation (to your
point), maxed out credit (interest payments on credit cards, home equity
lines, etc.) and adjusting mortgage payments are all culprits. toss in a
weakening job market and you've got the right recipe.

--
P. Morgan Brown
Director of Marketing
510.658.9292 x 199 | www.turnhere.com

TurnHere ? Great ads for the little guy.

****NOTICE**** Just a reminder that this e-mail and its contents and
attachments are protected under the electronic communications privacy act.
If you're not the intended recipient this is your notice that disseminating,
distributing, copying or otherwise using this message and contents is
prohibited. If you've received this e-mail in error please kindly delete the
message and let us know by contacting TurnHere at (510) 658-9292 or replying
to the sender. Sorry for the inconvenience and thanks for your help!

By: Mark McKnight

Mark McKnight — Wed, 11 Jun 2008 10:01:07 +0000

I think that the rising oil prices are causing foreclosures. People can't afford their mortgage re-payments and cope with the energy crunch

By: Don

Don — Fri, 06 Jun 2008 15:47:28 +0000

Not only that, the word on the street is that the investors are being extremely uncooperative with borrowers who are current on their payments but are warning lenders that they are going to need help, either a loan mod or a short sale. Lenders have been telling borrowers to call back when an NOD is filed, which is exactly what borrowers a being told what NOT to do. I have a feeling lenders don't care if homes to REO or not. Maybe because they think they'll get bailed out?

That's what I've been hearing, anyone else??

By: morganb

morganb — Thu, 05 Jun 2008 19:36:09 +0000

well said ann. the loan modification failure is a big story that isn't
really being covered by the media – more needs to be said about it.

By: ann

ann — Thu, 05 Jun 2008 19:26:02 +0000

The sad fact of the matter is that these foreclosures show 1)How many people were in homes that they could not afford 2)how many speculators there were in the marketplace 3)How many in the industry of real estate(brokers, realtors, finance construction and so on..) are losing there homes and 4)how the idea of loan modifications and workouts are not working…