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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: How bad is the economy? Posted by johnquebedeaux@msn.com on August 28, 2010 at 8:35 AM In Reply to: Re: How bad is the economy? posted by Kristine-CA on August 23, 2010 at 1:45 PM HUD predict that the foreclosure market is a 40 Billion dollar loss each year for the next 5 years. As unemployment rate start to increase, there will be more short sales. Why? Remember when most people bought 100% financing and some refinance using their house as instant ATM, start to loose their jobs and eat up what little reserves they have ,will eventually lose their house. Some short sales in the area will start to effect the local median home prices. This will set the standard for local median prices. The market is correcting itself now. There are winners and there are losers. Short sales can takes months to do and there are no guarantee you will get the house, because some mortgage brokers are not well verse on the entire foreclosure process. Depending on the state, the property owner may not sell due to deficiency judgment. Now is the time to buy, since house prices are low and interest rate is still low. As unemployment rate start to decrease, interest rate will rise, this means our economy is making a recovery. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : HUD predict that the foreclosure market is a 40 Billion dollar loss each year for the next 5 years. As unemployment rate start to increase, there will be more short sales. : : Why? Remember when most people bought 100% financing and some refinance using their house as instant ATM, start to loose their jobs and eat up what little reserves they have ,will eventually lose their house. Some short sales in the area will start to effect the local median home prices. This will set the standard for local median prices. The market is correcting itself now. There are winners and there are losers. Short sales can takes months to do and there are no guarantee you will get the house, because some mortgage brokers are not well verse on the entire foreclosure process. Depending on the state, the property owner may not sell due to deficiency judgment. Now is the time to buy, since house prices are low and interest rate is still low. As unemployment rate start to decrease, interest rate will rise, this means our economy is making a recovery. [ 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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