Comments on: The Second Correction – 6 SoCal Homes from 6 SoCal Counties Showing the Continued California Housing Correction. http://www.doctorhousingbubble.com/the-second-correction-%e2%80%93-6-socal-homes-from-6-socal-counties-showing-the-continued-california-housing-correction/ How I Learned to Love Southern California and Forget the Housing Bubble Fri, 10 Sep 2010 04:10:13 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Dorie http://www.doctorhousingbubble.com/the-second-correction-%e2%80%93-6-socal-homes-from-6-socal-counties-showing-the-continued-california-housing-correction/#comment-46244 Dorie Thu, 25 Mar 2010 20:08:23 +0000 http://www.doctorhousingbubble.com/?p=3137#comment-46244 Laura, yep, that seems to be the way to do it. If you have just one original purchase loan you simply let it go into foreclosure. If you've done a cash-out refinance or have a home equity loan or line of credit you declare bankruptcy to get out from under them all. Laura, yep, that seems to be the way to do it. If you have just one original purchase loan you simply let it go into foreclosure. If you’ve done a cash-out refinance or have a home equity loan or line of credit you declare bankruptcy to get out from under them all.

]]> By: Sub Genius http://www.doctorhousingbubble.com/the-second-correction-%e2%80%93-6-socal-homes-from-6-socal-counties-showing-the-continued-california-housing-correction/#comment-46238 Sub Genius Thu, 25 Mar 2010 01:10:40 +0000 http://www.doctorhousingbubble.com/?p=3137#comment-46238 The irresponsible people are the ones in our government! Vote out all Republicrats, vote in responsible independent politicians who will listen to you and not listten to special corporate interests! The irresponsible people are the ones in our government! Vote out all Republicrats, vote in responsible independent politicians who will listen to you and not listten to special corporate interests!

]]> By: Laura Louzader http://www.doctorhousingbubble.com/the-second-correction-%e2%80%93-6-socal-homes-from-6-socal-counties-showing-the-continued-california-housing-correction/#comment-46211 Laura Louzader Tue, 23 Mar 2010 23:04:38 +0000 http://www.doctorhousingbubble.com/?p=3137#comment-46211 Hell, Dorie, they might just as well declare bankruptcy... if, that is, they haven't already done that within the past 7 years. I'm willing to bet that many of the people who borrowed this heedlessly and on stated income, probably already had one very checkered credit history. And anyway, somebody who makes $100K or less and has $700K in debt on a house worth maybe $350K today, is really bankrupt anyway and has no chance of either paying the debt or the taxes on the forgiven loans, so just do it. It doesn't look any worse on your record than foreclosure. Hell, Dorie, they might just as well declare bankruptcy… if, that is, they haven’t already done that within the past 7 years. I’m willing to bet that many of the people who borrowed this heedlessly and on stated income, probably already had one very checkered credit history. And anyway, somebody who makes $100K or less and has $700K in debt on a house worth maybe $350K today, is really bankrupt anyway and has no chance of either paying the debt or the taxes on the forgiven loans, so just do it. It doesn’t look any worse on your record than foreclosure.

]]> By: Jose http://www.doctorhousingbubble.com/the-second-correction-%e2%80%93-6-socal-homes-from-6-socal-counties-showing-the-continued-california-housing-correction/#comment-46187 Jose Mon, 22 Mar 2010 18:32:41 +0000 http://www.doctorhousingbubble.com/?p=3137#comment-46187 Realstate it all depends on the location. Last year, my father bought a recently remodel home in Compton for 68K, 3bed and 1bath, which on 2007 it sold for 365k. Near there they are building new condos. Compton is not that bad anymore, nice areas too, near LA and LB..Recently, there was a house for sale almost the same two houses away(a month of so), but this was recently remodel and with garage, that was in the market for 219k, now it appears as pending sale. At that time there were a lot of houses going for 50k or 60k in Compton, they were small and in the bad areas, when in the nice areas they were for 200ks. He decided to look for his third house last summer;however, it was hard to find one cheap and one that they would accept his offer. Out of like 10 property we went to see of 60k to 80k, he put the offers to 4 and 5k more what they were asking. He did not get none. Them I saw three back again on the market, remodel and everything for 200k, which they sold, 5k lower or 5k more what they were asking. Like there was one in the nice part of Compton, that were asking 75k and it sold for 75k, three months later, it appeared for sale for 200k and it sold for 190k. He sended the offer of 75,001k, but he didnt get it. But the weird thing it appears that all the houses sold for what they were asking, no more and they sold quick. Now, my uncle who lives in South Central he says that his houses are worth 110k and when he purchased them for 190k in Dec08.. Realstate it all depends on the location. Last year, my father bought a recently remodel home in Compton for 68K, 3bed and 1bath, which on 2007 it sold for 365k. Near there they are building new condos. Compton is not that bad anymore, nice areas too, near LA and LB..Recently, there was a house for sale almost the same two houses away(a month of so), but this was recently remodel and with garage, that was in the market for 219k, now it appears as pending sale. At that time there were a lot of houses going for 50k or 60k in Compton, they were small and in the bad areas, when in the nice areas they were for 200ks. He decided to look for his third house last summer;however, it was hard to find one cheap and one that they would accept his offer. Out of like 10 property we went to see of 60k to 80k, he put the offers to 4 and 5k more what they were asking. He did not get none. Them I saw three back again on the market, remodel and everything for 200k, which they sold, 5k lower or 5k more what they were asking. Like there was one in the nice part of Compton, that were asking 75k and it sold for 75k, three months later, it appeared for sale for 200k and it sold for 190k. He sended the offer of 75,001k, but he didnt get it. But the weird thing it appears that all the houses sold for what they were asking, no more and they sold quick. Now, my uncle who lives in South Central he says that his houses are worth 110k and when he purchased them for 190k in Dec08..

]]> By: Edy http://www.doctorhousingbubble.com/the-second-correction-%e2%80%93-6-socal-homes-from-6-socal-counties-showing-the-continued-california-housing-correction/#comment-46184 Edy Mon, 22 Mar 2010 11:41:40 +0000 http://www.doctorhousingbubble.com/?p=3137#comment-46184 Articles from LA Times http://www.latimes.com/business/la-fi-cover-foreclose21-2010mar21,0,7144708.story Articles from LA Times

http://www.latimes.com/business/la-fi-cover-foreclose21-2010mar21,0,7144708.story

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