Archive for the 'alt-a' Category

Home equity loans in California still over $600 billion. Pasadena and the mid-tier correction starting. Short sale for 50 percent off and HELOC machine being sold at auction for 70 percent below the outstanding loan debt.


Beverly Hills real estate selling for 1989 price levels – Southern California two bubbles. Home sold for $920,000 in June of 1989 and has a pending sale at $920,000 today. 1 MLS foreclosure versus 100 in the shadow inventory.


Nothing down and low down payment mortgages inflate housing prices and increase the rate of foreclosure – Financial reform starts with increasing the down payment amount. How FHA insured loans infiltrated and filled the gap of exotic mortgage financing.


Don’t believe calls for a quick housing bottom – Foreclosures increase as system is still clogged. Those calling for a 2011 California housing bottom are premature. 51 percent increase in REO inventory for California in latest month of data.


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