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qwerty.. current financing is 6%, 2 years ago it was a lower, and she probably has a teaser ARM with some negative amortization, so that she only pays like 4.5% and another 1/2 percent is added to her principal with a reset in 3 years or when the loan hits 110% of value. I'm just guessing...

"loan processor making $70K a year who got laid off and had to go to the food bank to feed the kids. While I feel bad for her situation and her kids, it says she had a $2500 int only" If her ARM is $2500 interest only she's in a $700,000 property and her loan will reset to at least...

Back on topic.. I know several wealthy individuals who would love to scoop up some bargins. They are currently sitting on the sidelines because there are no bargins at this time. Im thinking that those with money and smarts (and they do exist) will continue to sit on the sidelines until...

The jst of this thread is seems to be how to escape a bad situation without experiencing some pain. There will be pain, so Mr. subprimer, bend over and take it like a man. Really, there are worse things in life than a finanical setback. It seems Americans have turned into wooses who...

Market turbulence doesn't affect all sectors equally, some contract, some stay stable and some expand. In the future we are expecting a real estate recession, agriculture should do fine, auto will see a slowdown. Bankrupcy will be a growth field. Time to move into bankrupcy law.

Irvine really does need 10% of the class in special ED. Thats because Irvine women have all that plastic surgery done and party longer so by the time their biologic clock starts ticking it's soo late that have to see fertility docs which is why more triplets are born in OC than in all of...

"It's bound to get worse" Depends on who it's worse for. For all the sucker investors who bought the junk mortgages, they will thanking their stars and breathing a sigh of relief. For all the fools (FBs) who finagled a house they couldn't afford with stated income loans, paying 5x...

"Jason Grange of Premier Mortgage Lending says other lenders are sure to follow" that's what I call a "no sh%^ sherlock" duhh remark that doesn't need bolding. Sorry, or as Simon would say "not good enough"

Caliguy2699 Wells Fargo announcement is old news, this was posted last week. Suggest you read this blog instead of the OC Business Journal

Of course you have to pay taxes. I'm not an accountant but my understanding is that you will receive a 1099 for the value of the home (600k). CA takes 10% and the feds will take another 40% so you will net $300k for you $200 investment. You can only claim capital gains if you buy...

Nude, I'm with you bro. Although I don't deny that there are many good teachers out there trying very hard in a horrible system, the unions and the civil service systems are destroying the integrity of our public institutions. When I was at Harbor-General, my boss' secretary quit but...

The money!

I have no sympathy for the teachers union. Did any of you catch John Stossel (60 minutes) expose on how teachers unions always protect bad teachers from termination. NY couldn't fire any bad teachers and had a whole building where they had to send bad teachers with pay and no work just to get...

The thing that gets me about BK, and I'm not a lawyer, just a concerned citizen is that if you follow BK's in the USA, a little over 1/2 of all BK filings are due to catastrophic medical bills. That's right, someone gets sick and even if you have insurance the bills are so high you can't pay...

http://www.dailypilot.com/articles/2008/03/01/blogs_and_columns/rigonomics/dpt-righeimer03012008.txt Mr. Righeimer is a douche... "If passed, it, among other things, would allow bankruptcy judges to lower the principal and interest payments on a home loan to the amount the borrower could...

Nellie Gail home seller who went through 40 open houses over a 1 1/2-year period without a single offer finally sold his house Saturday during an auction that drew five bidders, including one online, his agent said. But Paul Beyer, the owner of the five-bedroom, Mediterranean-style house in the...

Didn't read all the comments but don't you guys realize that the bankruptcy law was only amended in 74 to give special status to mortgages. Why should mortgages be treated different than other assets in a bankruptcy such as autos, RV's, boats and airplanes? All assets at time of bankruptcy are...

Don't worry, it's still only money. The waves will still be there for surfing. The golf courses will still be open. On the bright side, the realtors will go back to working the titty bars again. You have to learn to be happy with what youve got, not what you drive. A lot of the money...

sounds like racial profiling here to me, people want to stay in waspy irvine because they are afraid that somewhere else might be cheaper and better.

My grandma used to have more trouble renting an apartment if the previous tennant died in it. of course, in rent controlled NYC, people peruse the obits to find potential rent contolled units that only open up when the current occupant dies. So, death in So Cal bad for real estate...