Who opened the floodgates with Foreclosures

[OC28HEAT]

Yep, well into 2009 is the talk now.
What is the % overall drop in average value, to date, from the peak in LHC?
Anyone know?
35%

[OC28HEAT]

Yep, well into 2009 is the talk now.
What is the % overall drop in average value, to date, from the peak in LHC?
Anyone know?
Also the problem is that the resets are scheduled into mid2009 and the Delinquency trails the reset by 3 mos so now we are in August or Sept 09. The foreclosure trails the delinquency by 3 mos so now we are in November - December 09 and the Eviction goes to Jan- feb 2010. We should have good inventory until mid 09 or a little later. There is a total of 7.2 trillion in Subprime paper alone. That does not inlude Alt -A
This stuff is hitting all aspects of Lending Prime as well.
Someone at CFC said that 32% of all loans were headed down the path

[Trailer Park Casanova]

35%
Woooogh, that's a big hit.
Our Crest Fallen manor here in Ventura Co. Ca has dropped about 12%.
Entry level homes like our place seem to have rolled back less,,, or perhaps rolling back slower.
My guess is smoke and mirrors slower. Got a ways to go.
The scraper/lot value homes near the beach seem to be holding strong.