NY Times Article: Alt-A is the Next Wave of Defaults

[IrvineRealtor_IHB]

Further Clarification:

Preforeclosure = Notice of Default (NOD) has been filed

Auction = Notice of Trustee's (NOT) Sale has been filed

Bank Owned = Trustee's Sale has completed and the bank has taken it back with no buyers at their NOT price during the public auction.

 

[IrvineRealtor_IHB]

Update, per request. As of 2/06/09:

92602

92603

92604

92612

92618

92620

Good luck,

-IrvineRealtor

 

[OCCOBRA_IHB]

I suspect a large number will convert to the new FHA loans. Most for those loans will qualify.

Sounds good on paper but over 55% of Alt-A's and option arms are underwater. The problem is that all these loans that where done the people would not have qualified for a FHA loan to start with even with the higher limits. And with all the option arms most people especially in this crappy economy are only paying the minimum til the 110 to 125 of neg am hits then it readjusts and no one in thier right mind is going to pay the full pop when your upsided down. FHA is joke and not the silver bullet you think it is. Sorry.

 

[Trooper_IHB]

Cobra, that post was from 7 months ago....it's a whole different ball game now (but it *was* a suspect statement even back then....)

 

[graphrix_IHB]

Update, per request. As of 2/06/09:

92602

92603

92604

92612

92618

92620

Good luck,

-IrvineRealtor

I fixed it so the previous numbers are above the latest numbers to compare. It looks like Oak Creek is starting to crack, and Woodbury looks like the foreclosure fire has started.

 

[blazera_IHB]

Deuce - do you have the latest maps for 92614 and 92606 available as well? TIA.

 

[25inIrvine_IHB]

Wow. Woodbury and Oak Creek are getting it. NWII has been getting it awhile so thats nothing new.

Thanks for the combo pic Graph

 

[graphrix_IHB]

Deuce - do you have the latest maps for 92614 and 92606 available as well? TIA.

Deuce is asleep, like I should be.

Here is 92606.

http://i41.tinypic.com/2mms1sk.jpg

And, here is 92614.

http://i43.tinypic.com/2e4ep2r.jpg

 

[optimusprime_IHB]

Wow. Woodbury and Oak Creek are getting it. NWII has been getting it awhile so thats nothing new.

Thanks for the combo pic Graph

Music to my ears. I love the Oak Creek area.