Archive for the 'loan modifications' Category

Where did the option ARMs go? Cheaper to pay modified loan than paying market rents. Subsidizing the housing market through shadow finance. Interest only payment 10 percent cheaper than market rents.

Financing the Cassandra Effect – People Choose to Ignore Economic Facts Contrary to Their Benefit. MLS in Southern California Going Up? Distress Inventory 3 Times the MLS Data. Big Salaries of Mortgage Brokers Gone.

Treasury Officials Concerned over Option ARM Recasts and Jumbo Loans Issues – Recalibrating the Housing Numbers while 5.6 Million Mortgages are Delinquent. California One Two Housing Punch. 60 Percent of Option ARMs and 45 Percent of Jumbo Loans in California.

Banking Solution to Financial Crisis is to Ignore Distress Inventory – California had 1,200 Foreclosure Filings Per Day in 2009 – The California Real Estate Foreclosure Machine. Countrywide Financial, WaMu, and Wells Fargo top Foreclosure List in Q4 of 2009.

Foreclosures, Auctions, and Banks Obscuring Financial Data. Southern California Shadow Housing Inventory Report – MLS Lists 64,000 Homes but Shadow Inventory over 160,000.

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