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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Well now I know which way you are voting in November for decriminalization. Posted by JK (the other JK) on June 15, 2010 at 9:41 AM In Reply to: electric vehicles (evs) posted by hard money lender on June 14, 2010 at 11:46 PM Put the good stuff down and come back to reality. The next leg of the RE market down turn will be unlike anything we have ever seen. Here are a few FACTS: 1. Already agents in Florida are whining because potential Buyers of beach front property are cancelling escrows left and right due to fear of oil slick tar from the Gulf. 2. We have no idea what type of impact the oil spill will have on coastal properties near the Gulf of Mexico. 3. The Option Arm resets are still coming. The biggest wave hits in 2012. 4. Bank loan modifications have done nothing but create more foreclosures. Borrowers call the bank for a mod, bank tells borrower to get delinquent to get mod, bank denies borrower, now borrower doesn't have the money to reinstate and next borrower gets foreclosed on. 5. Fannie Mae, Freddie Mac, FHA account for 95% of all residential home loans. They are going to need another bailout probably to the tune of $1T. 6. Unemployment is increasing at an alarming rate. CA unemployment officially now over 13%. Much higher if you were to count the self-employed like realtors and contractors. http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&idim=state:ST060000&dl=en&hl=en&q=ca+unemployment+rate 7. Sovereign debt crisis could be the new Lehman Brothers scenario, which could constrict the lending market even more. 8. Borrowers upside down are learning that they can stay and not pay. 9. Proposed Legislation continues to make the lending environment less desirable. 10. Bankruptcies are continuing to rise. Follow Ups: Re: Well now I know which way you are voting in November for decriminalization. hard money lender 9:49 AM, 06/15/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Put the good stuff down and come back to reality. The next leg of the RE market down turn will be unlike anything we have ever seen. Here are a few FACTS: : 1. Already agents in Florida are whining because potential Buyers of beach front property are cancelling escrows left and right due to fear of oil slick tar from the Gulf. : 2. We have no idea what type of impact the oil spill will have on coastal properties near the Gulf of Mexico. : 3. The Option Arm resets are still coming. The biggest wave hits in 2012. : 4. Bank loan modifications have done nothing but create more foreclosures. Borrowers call the bank for a mod, bank tells borrower to get delinquent to get mod, bank denies borrower, now borrower doesn't have the money to reinstate and next borrower gets foreclosed on. : 5. Fannie Mae, Freddie Mac, FHA account for 95% of all residential home loans. They are going to need another bailout probably to the tune of $1T. : 6. Unemployment is increasing at an alarming rate. CA unemployment officially now over 13%. Much higher if you were to count the self-employed like realtors and contractors. : http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&idim=state:ST060000&dl=en&hl=en&q=ca+unemployment+rate : 7. Sovereign debt crisis could be the new Lehman Brothers scenario, which could constrict the lending market even more. : 8. Borrowers upside down are learning that they can stay and not pay. : 9. Proposed Legislation continues to make the lending environment less desirable. : 10. Bankruptcies are continuing to rise. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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