- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Replies (10)
The same Media Outlets are reporting that "The Recession is Over".
Not if that many loans are upside-down.
With a wave of interest rate resets coming soon, plus the up and coming commercial mortgage bust - it's going to get rough out there.
God Bless America.
Fred
Not if that many loans are upside-down.
With a wave of interest rate resets coming soon, plus the up and coming commercial mortgage bust - it's going to get rough out there.
God Bless America.
Fred
- Aldreth
- Contributions:4226
"This level of negative equity could compel more borrowers to "strategically" default -- or walk away --"
--- just walk away --- just walk away ---
for some reason that reminds me of a south park episode
--- just walk away --- just walk away ---
for some reason that reminds me of a south park episode
- Aldreth
- Contributions:4226
Those same media outlets are owned by GE (General Electric)
- Aldreth
- Contributions:4226
and.. interest rates will remain subdued so long as the bond market cowers to Mr. Obama and the FED. I have been entirely disheartened by the reaction of the bond market.
Fleeing from any problem will never solve it, quite the contrary actually, it makes the root cause disastrous.
Fleeing from any problem will never solve it, quite the contrary actually, it makes the root cause disastrous.
- sunnyview
- Contributions:25129
I think that they are using low interest rates and the $8000 buyers credit to keep old borrowers in their home thinking about the monthly cost only and keep new borrowers on the horizon fighting over REO's and short sales. Close your eyes and don't ask too many questions.
- cvoc13
- Contributions:70
With that many home upside down, one will not be sell to buy another, unless one is willing to pull money out of EACH others pockets at time of sale, In other words TRADE UP's sales will be dead for a long long time, and prices will erode for years slowly (in Ca. anyway, FL likely also) My coworker (jerk) house was for two months worth 1.2 mill and now he would be lucky to get 400,000 and of course he thinks it is still worth 550,000 and NO WAY according to the comp it is 360-400 now Aug 09
- suzan2
- Contributions:1
Hi Aldreth,
How to walk away walk away if is rental house? Please help. Thanks.
How to walk away walk away if is rental house? Please help. Thanks.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
Pasa:
The gov't money throwing only will make it worse in the long run. 1/2 of my mortgages are underwater now :) Of course I only have 2 properties.
The gov't money throwing only will make it worse in the long run. 1/2 of my mortgages are underwater now :) Of course I only have 2 properties.
Half of mortgage borrowers will be 'underwater'
"If our home-price forecast is correct, roughly one in two mortgage borrowers and one in three homeowners will owe more than their home is worth," said Karen Weaver, one of the researchers who authored the report. "That's a dramatic shift from the past several decades when housing was the foundation of middle class wealth."
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.