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Wow. Graph--what was the amount the bank was owed on the first trust deed? Was it the Notice of Sale Amount of $1.7m, and not the Opening Bid Amt of $1.2m. If that's the case, and the bank was willing to take $1.26m at the sale, the bank must think the market value of the property is way...

Thanks Graph! I had tried to post the chart but my computer skills were not up to the task!

From today's NY Times: August 4, 2008 Housing Lenders Fear Bigger Wave of Loan Defaults By VIKAS BAJAJ The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building. Homeowners with good credit are falling...

Another Vicara foreclosure: 15 Balcony. (The property was discussed earlier in this thread, in Feb/March when it was for rent for $8,300.) Irvine Renter profiled 15 Balcony last year, when it was for sale for $2.9 million! http://www.irvinehousingblog.com/blog/comments/balcony-view...

37 Crimson Rose was/is on the MLS as a rental for around $5900 until a day or two ago. Might still be on: MLS#: S495993

Thursday 7/24/2008 2:00:00 PM Address: 47 CRIMSON ROSE Get Yahoo! Map City: IRVINE State: CA Zip: 92603 County: Orange APN: 478-381-54 Sale Status: Sale Date 07/24/2008 TS Number: 200845784964 Notice of Sale Amt: $1,715,134.97 Opening...

47 Crimson Rose is in foreclosure. The Trustee's Sale is scheduled for July 24. Irvine Renter profiled the property back in January: http://www.irvinehousingblog.com/blog/2008/01/ And 30 Crimson Rose was sold at a Trustee's Sale in August 2007...

IrvineRenter's post today about the REO at 30 Crimson Rose reminded me to check on 41 Rose Trellis. According to Trulia, the Bank is now trying to unload it for $1.369 million. <a...

<p>A bumper sticker spotted at San Onofre: </p> <p><strong>"Can't we all just get a longboard?"</strong></p>

<p>Oh, and the homedebtor for 143 Weathervane in Quail Hill, which was taken back by the bank in a foreclosure sale in January, had a very obviously Asian (i.e. probably a first generation immigrant) name.</p> <p>Now, does anyone really want to claim that "Asians don't end up in foreclosure?"...

<p>Here's a comment from "949Mommylove" from the "Quail Hill Foreclosures" thread, regarding 51 Momento in Quail Hill, which has been in foreclosure and was supposedly sold at a foreclosure sale on Wednesday, Feb 13. If I'm recalling the correct open house, I went into 51 Momento this summer...

Apparently the Street thinks UBS will need to take up to $18 billion in additional write-downs. Citigroup estimated that UBS has $80 billion in aggregate remaining exposures. As noted above, at least $54.2 billion of that, by UBS's admission, is in US Subprime ($27.6b) and Alt-A ($26.6b)...

All I can think of is some "due process" or procedural problem with the sale, e.g. the homedebtor filed for bankruptcy the morning of the sale and is using the automatic stay to void the sale. Can't see how this would achieve anything except to forestall the inevitable sale and eviction, though.

<p><strong><u>Is 51 Momento back from the dead?</u></strong></p> <p>On Fidelity ASAP's site, it now shows a status of "Invalid Sale."</p> <p>Anyone know what is going on?</p> <p> Wednesday 2/13/2008 2:00:00 PM...

<dd><strong>Captain Bren</strong>: <em>You gonna get used to wearin' them mortgage chains afer a while, Luke. Don't you never stop listenin' to them clinking. 'Cause they gonna remind you of what I been saying. For your own goo</em>d. </dd><dd><strong>Luke</strong>: <em>Wish you'd stop bein' so...

No, <u><strong>I </strong><strong>am</strong></u> Irvine Renter! <img alt="" src="http://www.themissingreel.com/Kirkdouglas_spartacus.JPG" />

Swiss bank UBS announced its huge Q4 loss, including $27.6 billion in Subprime exposure at December 31. But the announcement also noted that UBS's exposure to Alt-A was almost as large: $26.6 billion. UBS has already booked a loss of $2 billion on Alt-A: <p><em>"UBS said its net subprime...

<p>A Notice of Trustee's Sale has just been posted for another Vicara property in Quail Hill: 520 Luminous.</p> <p>If this property and 19 Fresco are both sold at Trustee's Sales, together with today's sale of 51 Momento, that will be three foreclosures in Vicara in the first quarter of 2008...

<p>51 Momento went back to the bank for $1,518,253 today. How much will the bank put it back on the market for?</p> <p> </p> <p> Wednesday 2/13/2008 2:00:00 PM...

Word on the street is that another one of the Vicara properties, this time on Fresco Street, is in foreclosure. I'm pretty sure it's 19 Fresco, which is listed on redfin for $1.795 million as a "short sale": <a...