Massive Defaults Coming in Real Estate – 30% – 50% Reductions

Posted on November 24, 2009
Filed Under real estate | 25 Comments

inflation.us After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof” Links www.mgic.com mhanson.com

Comments

25 Responses to “Massive Defaults Coming in Real Estate – 30% – 50% Reductions”

  1. jvolstad on November 24th, 2009 5:53 pm

    Got some spam from a Realtor telling me it is a great time to buy. My response was only if you are debt free, have 20% to put down, and realize that Realtors do not have your best interest in mind. Realtor told me not to contact him anymore. I said fine. Please stop spamming me. LOL.

  2. bitchcreekz1 on November 24th, 2009 5:53 pm

    george is a fed–check out how many vids he has watched–his computer is on a mainframe

  3. DIJV79 on November 24th, 2009 5:53 pm

    Yep ! the option arm loans are going to reset in 2010 the next wave of foreclosures “God help us all.”

  4. ciyean on November 24th, 2009 5:53 pm

    Is that a good or a bad thing? I really don’t understand what you are trying to say.

  5. theroilsoil on November 24th, 2009 5:53 pm

    Right on George.

    We ain’t seen anything yet, but I agree with you about defaults on a biblical scale.

    Real Estate should never have become speculative . . . this is truelly apocolyptic.

  6. jimmyd3277 on November 24th, 2009 5:53 pm

    No body is buying home in AZ
    alot of ppl leave az
    those new house for illegal immigrant are all empty
    even if they stay here they cant even afford their food how can they pay for their rent

  7. jimmyd3277 on November 24th, 2009 5:53 pm

    Amen

  8. TheAMERICANTYRANNY on November 24th, 2009 5:53 pm

    Kansas City Missouri is also high in foreclosures, jobs are almost non exsistent for the common workers that pays enough to live on,, this country is in deep trouble – I knew this would happen back in 2005 !

  9. goodagofilms on November 24th, 2009 5:53 pm

    America turned into a communist /socialist state through the banking system. Well done America land of the kept. To big to fail. when the life style starts to fade, with all those guns theirs going to be rivers of blood.

  10. drudometkin on November 24th, 2009 5:53 pm

    I don’t think it will collapse much more. The banks will just hold inventory back to control the market.

  11. mwng3000hotmail on November 24th, 2009 5:53 pm

    Amen to strategic defaulting! Cheers!

  12. Komelotstar on November 24th, 2009 5:53 pm

    You are right crises is not over. But wise investor can make money in any industry. More difficult market is more money opportunities there.

  13. noncompliant2 on November 24th, 2009 5:53 pm

    I live in an apartment being forclosed on by some one in California. I live in Idaho, the forclosures that happen over there hurt us here as well.

  14. KevinKR500 on November 24th, 2009 5:53 pm

    Anyone looking for subcribers for youtube partner i am Subscribe to me and i will subscribe back to you.

  15. KevinKR500 on November 24th, 2009 5:53 pm

    I am trying to become a Youtube partner subscribe to me and i will subscribe to you too. thanks

  16. GoldSilverLead on November 24th, 2009 5:53 pm

    Excellent video George. Agree with you on the fact that the housing crash is not over, but not on the timeline. I don’t disagree, but the Gubbermint is pretty good at kicking it down the road further than you expect. Also, senate is debating extending (and expanding??) the housing credit to possibly as much as $15K. We live in Bizarro World.

  17. KhmerSerey1 on November 24th, 2009 5:53 pm

    Station wagons are great for family vacation George,not bad at all for $1,500 dollars.Are there any leaks in the engine ??

  18. KhmerSerey1 on November 24th, 2009 5:53 pm

    Change the oil regularly and change the filter every 15 to 20 thousand mile George,it should last forever….

  19. kevinfirebird on November 24th, 2009 5:53 pm

    I am trying to become a google partner subscribe to me and i will subscribe to you too.

  20. jrwannabe01 on November 24th, 2009 5:53 pm

    Yes, volvos are a nightmare. Better to buy something like a Chev Cavalier…. much simpler, and the parts are everywhere and dirt cheap! 1995 -1996 are best. No ECM (computer), and everything can be done in your own garage.

  21. psbyowner on November 24th, 2009 5:53 pm

    when you modify, the amount you dont have to pay is counted as income on your tax returrn. no way around it. negotiating with banks isnt the problem. the problem is the taxable income you get from the debt being eliminated! now it becomes a federal beef you can go to jail for if you dont pay.

  22. Peridolin on November 24th, 2009 5:53 pm

    You are not your credit rating.

  23. aphroditecal on November 24th, 2009 5:53 pm

    how did you make that money with Google partnership?

  24. ganymedeIV4 on November 24th, 2009 5:53 pm

    Hah

    Real Estate is a good investment if your looking to own your home.

    What do you think would happen when you took out a quarter million dollar loan and you only pull in 1,200$ cash in your job.

    of course the damn bank will take your house back, It’s not your house in the 1st place its the bank’s and you just live there until you pay them that 250,000$ back.

    I have a loan and i own my house (well i have 9.8k left to pay) It’s just not a lavish huge house with tons of rooms, its old.

  25. Anothercoilgun on November 24th, 2009 5:53 pm

    Is there any place we are safe these days.

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