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Walking away is, for the most part, the absolute best solution to homeowners who are underwater. The only factors to consider is how far under are you, and what is the future outlook for recovery back to past levels. That's if you have a fixed rate loan with an affordable payment, that...

As far as the NOD to REO percentages - it really is MUCH higher than what is reported... for many reasons. BK fillings, people trying to work out payment plans, attorney fillings to stop foreclosure, the foreclosure grab 'n flip companies, etc... Sometimes they get extensions to the NTS...

Another thing to add to this: I am hearing more and more stories from friends/clients about their limits on their cards getting chopped. It is happening with ALL different banks, and ALL different types of credit lines. Business lines of credit, HELOCS, credit cards, etc. I heard one...

I can get this done via an FHA loan. Government insured. PM me if you want details - this would be simple via FHA.

If they are doing a short sale on their home, regardless of who buys it, it's not fraud. It's just a short sale. What are you going to report to the bank? The bank (or banks, as the case may be), are fully aware, on both the BUYER and SELLER sides, what is going on. They know it's a...

http://money.cnn.com/2008/05/09/news/economy/creditcards/index.htm?postversion=2008050909 Barely surviving on credit cards No longer able to turn their homes for cash, Americans are increasingly using plastic to meet their basic living expenses. But many can't afford to pay the...

There also appears to be a MASSIVE movement of people OUT of California. Jobs, real estate, cost of living, etc... you name it. Even the illegals are leaving, and that should tell you all you need to know. Less people + tons of vacancies = freefalling rents. Oh, and that won't help...

You should be praying for MUCH higher rates if you are looking to buy in 2010/2011. The higher the rates, the less you'll pay. And you can always refi later to lower it. $500,000 loan today at 6% = $2,997 + ($6,250/12 = $521 in property tax (calculated at 1.25% of value)) = $3,518 mo...

40 year mortgages have no advantages over the 30 year right now, due to large differences between the actual interest rates. In addition, a 30/10 or 30/15 (30 year fixed with 10 or 15 year IO options) would be a much better choice for most people, and would carry a lower rate than the 40 year.

<a href="http://www.slate.com/id/2189576/">http://www.slate.com/id/2189576/</a> Inside the Liar's Loan How the mortgage industry nurtured deceit. By Mark Gimein Posted Thursday, April 24, 2008, at 11:25 AM ET Is your mortgage misleading? Here's the narrative we've heard about...

This article is correct... option ARM and IO ARM resets will be 100000x more damaging than the subprime problems. Resets that go to double, triple, or quadruple payments (minimums) during a time when people owe more than their homes are worth (no chance of refinancing or selling) = Almost a...

If you really need to know what the rates/pricing is direct from FNMA I can let you know... msg me.