30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

"30% of loans in foreclosure have not made a payment for at least two years. 47% of those in foreclosure have not made a payment for at least 18 months." LPS Mortgage Monitor

Well, then kick them out! No one deserves to remain in a home if they refuse to pay anything towards it. Especially those who haven't made a single payment in 2 years.

No wonder our real estate markets seem to go no where. I believe our (Real) employment numbers won't improve until homes start selling at a healthy rate. To me, that is the key to get our economy back on track. Now our "Official unemployment" numbers have improved, but they're not accurate, so we can't believe them. When people "fall out of the labor force" that doesn't make unemployment go down, but that's what our gov't does anyway.

Here's some good & bad news on the real estate situation;

February Month-End Data: Conclusions


-Delinquency rates resumed their decline after an increase in January and foreclosure inventories remain stable, slightly below historic highs.

-Delinquencies continue to improve as new problem loan rates decline and cure rates increase.

-Foreclosure start declines and foreclosure suspensions are reducing the upward pressure on inventories caused by foreclosure sale moratoria.

-An enormous backlog of foreclosures still exists with overhang at every level:

-There are three times the number of loans deteriorating greater than 90+ days delinquent as compared to foreclosure starts.

-There are also three times the number foreclosure starts vs. foreclosure sales.

-Foreclosure inventory levels are over 30 times monthly foreclosure sale volume.

http://www.lpsvcs.com/NewsRoom/Indus...bruary2011.pdf

All comments on the thread topic, NOT the thread author!

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

How rude of the mortgage company to expect to be repaid. I mean, whose house do they think it is?

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

Some would say loans are backed by our gov't (fanny & freddie), so these homes are really owned by our society...but you & I know that's a crock of sh1t B5. If I had someone living beside me who hadn't made a payment in over a year, I'd ask him why he's still there.

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

And what would your response be when he tells you his home value dropped 25% since he bought it a few years ago and he "thinks I'll just walk away and buy another house for way less money," and he's already figured out how to do so even though he's ruined his own credit. He's simply going to lie and buy his next home in his parent's name.

Would you think he was irresponsible for doing so or would you clap him on the back and buy him a beer because you and he agree it is "the right thing to do" in that situation?

Oh heck, never mind, you don't have to answer. I already know the answer.

Unless you hold your neighbor to higher standards than you hold yourself.

Which is entirely possible.

http://www.patsfans.com/new-england-...op-record.html

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

All through this wall street profits have increased 700% and home values have decreased by 35%.. many of us grew up with the belief to invest in real estate it was a sure bet.

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

Its a good thing that Obama's UHC includes dental. You'll need it after sticking your nose into your neighbor's business. Be sure and point out any flaws you've come across in his child rearing skills while you're at it.

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

Sweet lady MrsP, this isn't a personal topic, go play with MrP and wear someone else out. How anyone could have some childish grudge against me (the nicest member we have)is unfathomable!:eek:

What are your thoughts on the THREAD TOPIC? I'm very excited to read them!

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

Good morning sdaniels old bud! So, what are YOUR thoughts on the thread topic? Or did you stop by just to be a douche?

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

Since you've previously admitted that you have no problem becoming a part of the foreclosure problem, not through job loss or personal misfortune but simply because you'd have a personal problem with being 25% underwater, your thread topic is fatally flawed.

My thoughts on the flaw in the topic?

We are never going to solve the problem of foreclosure or the length of time a home owner remains in his/her foreclosed home as long as people keep planning ahead of time on being part of the problem.

Re: 30% of Loans in Foreclosure haven't made a single payment in 2 years!
 

Douche?
You really are incapable of putting your own actions into the context of everyone else's aren't You?

Hint: not everyone can slease off of a family member's good credit like you.