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A cautionary tale of high rise homeownership. From Drudge. http://www.news-press.com/article/20090730/NEWS0110/90729077/1075/Downtown-Fort-Myers-condo-has-32-stories-and-one-lonely-tale My .02 Soylent Green Is People

Freddie Mac came out this week saying that there isn't a requirement to use SS or REO closings in an appraisal. The plain and simple issue is that a closed sale at any price no matter if it's a SS or an REO is the value of the home. Sure an REO might have had $10k worth of damage, but appraisers...

The refi boom was 2002-2004. Some were reasonable rate and term refi's, but the vast majority of refi's were <em>CASH OUT BABY!!</em> People began to choke on their own debt in 2005-2006 which is why the Option ARM / Stated Stated programs exploded onto the scene. People couldn't afford, or...

I wish the community could call these units what they are: "foreclosures in waiting" and not "short sales". When I attend my area Realtor meetings when a 'Tard comes to pitch a foreclosure in waiting you should hear the groans from the crowd. Even they know these deals are never going to close...

The key is loan to value. Most banks will hit 70% LTV and stop. If you are under that threshold, all the biggies will lend HELOCs Wells, BofA, USBank, Comerica, Chase... almost all of these are prime, plus 1-2% Some Credit Unions will go 75% LTV but they are few and far between. I...

How and where will the Irvine Company accommodate the State's requirement for additional "affordable housing units" given the current political theatre and cost constraints we see today? Isn't Irvine supposed to cough up a few hundred more AHU's to meet regulations? My .02 Soylent...

Those aren't the droids you're looking for... you can go about your business... In some cities (Laguna, Tustin, Orange, SA, and CM) most will allow some grandfathering of unpermitted add ons. If you are still in the process of buying and you have an unpermitted add on, the lender will not...

Those agreements aren't worth the paper they are printed on. I don't know anyone, even during the boom years, who ever had one of those agreements upheld. Even if they tried, the builder risks the possibility of you hanging a big "I got screwed by the Irvine Company" sign on their garage door...

Yours only? Speaking from experience this kind of present does help.... energize... the significant other post flight. Cheers, Soylent Green Is People.

Go to Universal Citywalk and book 2 to 3 flights on the Ifly. One trip is not enough. www.Iflyhollywood.com The Dude Abides, Soylent Green Is People.

At today's Irvine area broker preview it was broadcast by a Title Rep that " there were 800 buyers for 12 Condo's in Irvine and they sold out in 15 min"... which I don't know is the case or not. The response from the Realtor crowd was as if the Cubs finally won the World Series with huzzah's...

Tmare, You are correct. There are people out there who made reasonable mistakes and got caught up with issues beyond their control. They deserve help but in this environment they won't get the level of help they absolutely need. From my daily experience with these situations, I can assure...

To cut to the chase: I shade my true feelings in the response I give. As we know most Mods are simply postponed foreclosures. The process as it stands now is worthless with such a high return to fail rate. I believe most bad actors in the mortgage biz burped themselves into "modification...

Clearly we are living in a "post-responsible America". It's never my fault. It's everybody else's fault but mine. I can't tell you how often 'Tards will approach me asking for referrals to loan mod companies because "my clients want to get out of a bad loan".... as if someone held a gun to the...

Not to quibble, but lumping Realtors with Defense Attorney's isn't the best way to support your case here. Trust me as a loan hack. we get compared to used car salesmen all the time in the vein of "birds of a feather flock together". A good Realtor will refuse a listing due to WTF sellers, just...

Au contraire, (sp?) The Realtor is to find the "highest and best use" not highest and best price. Had Realtors focused on consumer protections rather than higher commissions we would not have found ourselves in the spot we are in. Realtors cannot be the gatekeepers against rampant...

Activerain isn't the marketing tool it intended to be. The workings on the site are terrible and the spamming never ends. All heat but no light. I never use it. My .02c Soylent Green Is People.

Yes. This happens all the time. Our company requires that the HOA cover "interior fixtures" so quite frequently buyers have to pony up for extra insurance on top of HOA just to keep coverage at a reasonable replacement value. The buyer should shop lenders. Not everyone has strict insurance...

Although it's a slide show of info, a fun read. Wells Fargo Bank put out something like this a few years back and in 24 hrs issued a face to the ground genuflection to the 'tard community for questioning their business model. I wonder how soon the WSJ will take to do the same. <a...

Everybody is in on the deal from escrow, title, RE Agents, buyer and seller. Of course when the light is shined on these cucarachas its the "not me" defense. During the good old days (2002-2006) I often wondered if I could get a death row inmate a home loan just for shiats and giggles...