Reply With Quote2008 should be the bottom. Credit markets and mortgage insurers have to finish taking a bath first.
I agree.
2008 should be the bottom. Credit markets and mortgage insurers have to finish taking a bath first.
2008 should be the bottom. Credit markets and mortgage insurers have to finish taking a bath first.
I agree.
All these people gotta have boats. Don't think many havasu homeowners are there with out one. I'm sure those boats are selling really cheap. Wish I could find them.
The boats might be in the garages or have been repossessed. Ive heard of some people just walking away from all debted items They got in the car and drove East to start over. I think the car was the only thing paid for. I know of 2 people who have done this.
currently 84 property's in the MLS listed bank owned /foreclosure in havasu
https://www.wardexre.com/war/maildoc...105120615.html
https://www.wardexre.com/war/maildoc...105124300.html
https://www.wardexre.com/war/maildoc...105122727.html
I think 08 is a dream. I read that a record was set in Oct.07, 50 Billion in loan resets. These homes won't hit the market for 5-8 months. Then is March of 08 the loan resets start hitting over 100 billion each month through the entire year. These homes won't reach the market till the end of 08 into 09. I have a friend that has not made a payment on his house for 7 months, the bank has not even filed a NOD yet. The banks don't want to show bad loans on their books. This runs a lot deeper than we all think. Election year, fuel prices, tight credit. the list goes on and on. We're in for 4-5 years of crap. Of course in the long run..........................
I have a friend that has not made a payment on his house for 7 months, the bank has not even filed a NOD yet.
I HIGHLY doubt that! I would bet money that is not an accurate statement.
I HIGHLY doubt that! I would bet money that is not an accurate statement.
Thats what he tells me. I know he has not made a payment since March, still lives in the house and no sale date has been set as of yet (I always look)
He could be bulls--ting about the NOD. but he is still in the house, that I know.
Many people and many banks got stupid a few years ago. I am just hoping that that bleeding hearts trying to get elected do not decide to do a government backed bail out. If there is a bail out, this will all just happen again. Better for the economy to take the licks for the next year or so and learn a lesson (for a few years anyway).
The other side of it is those of us who planned well will be able to buy some of the houses, boats and toys others lose for a good price.
Many people and many banks got stupid a few years ago. I am just hoping that that bleeding hearts trying to get elected do not decide to do a government backed bail out. If there is a bail out, this will all just happen again. Better for the economy to take the licks for the next year or so and learn a lesson (for a few years anyway).
The other side of it is those of us who planned well will be able to buy some of the houses, boats and toys others lose for a good price.
Thats true, the money never really dissappears. It just gets re-distributed. I hope some of it gets goes my way
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