Comments on: Foreclosures and Mortgage Delinquencies: A Tale Of Opposites http://www.biggerpockets.com/renewsblog/2009/11/20/tale-opposites/ Learn, Network, Invest Sat, 11 Feb 2012 01:23:53 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: NMhttp://www.biggerpockets.com/renewsblog/2009/11/20/tale-opposites/#comment-76009 NM Sat, 05 Dec 2009 04:06:46 +0000 http://www.biggerpockets.com/renewsblog/?p=8772#comment-76009 The number of mortgages issued in 2005 that were 5 year secured option arms or straight 5 year arms which would all recast if they haven't refi'd yet would seem to indicate that there are a lot more foreclosures coming.If someone in the 5 year option arm didn't refi out before they went totally underwater, they are going to find themselves with no more mortgage and no more house. Hopefully the unatractiveness to the investors of trying to sell a house with a lot of negative equity will help many of them get mods. The number of mortgages issued in 2005 that were 5 year secured option arms or straight 5 year arms which would all recast if they haven’t refi’d yet would seem to indicate that there are a lot more foreclosures coming.

If someone in the 5 year option arm didn’t refi out before they went totally underwater, they are going to find themselves with no more mortgage and no more house. Hopefully the unatractiveness to the investors of trying to sell a house with a lot of negative equity will help many of them get mods.

]]> By: Tom Koziolhttp://www.biggerpockets.com/renewsblog/2009/11/20/tale-opposites/#comment-75551 Tom Koziol Fri, 20 Nov 2009 23:27:04 +0000 http://www.biggerpockets.com/renewsblog/?p=8772#comment-75551 Liz,You mean the establishment media has a bias? Nah, can't be. I have a degree in journalism, graduated in 1972 btw. Even then the pond scum were sleeping with the politicians. Couldn't resist inserting my 2¢... Liz,

You mean the establishment media has a bias? Nah, can’t be. I have a degree in journalism, graduated in 1972 btw. Even then the pond scum were sleeping with the politicians. Couldn’t resist inserting my 2¢…

]]> By: Liz Vosshttp://www.biggerpockets.com/renewsblog/2009/11/20/tale-opposites/#comment-75546 Liz Voss Fri, 20 Nov 2009 23:10:57 +0000 http://www.biggerpockets.com/renewsblog/?p=8772#comment-75546 Tom, surely you don't believe the government.... Aren't they the same ones that said unemployment wouldn't go over 8%! The media reports what the White House tells it too, but the numbers speak for themselves. Maybe they're using the Enron accounting method. Tom, surely you don’t believe the government…. Aren’t they the same ones that said unemployment wouldn’t go over 8%! The media reports what the White House tells it too, but the numbers speak for themselves. Maybe they’re using the Enron accounting method.

]]> By: Alexis McGeehttp://www.biggerpockets.com/renewsblog/2009/11/20/tale-opposites/#comment-75532 Alexis McGee Fri, 20 Nov 2009 18:35:37 +0000 http://www.biggerpockets.com/renewsblog/?p=8772#comment-75532 Good reporting on tough statistics. Here is a twist to add in... How many of these stats are based on the house and how many on the mortgage? Many houses have more than one mortgage, when they give us the statistics do they take this into account? Good reporting on tough statistics. Here is a twist to add in… How many of these stats are based on the house and how many on the mortgage? Many houses have more than one mortgage, when they give us the statistics do they take this into account?

]]>