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strbear

Call That A Graph? Now This Is What I Call A Graph!

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Check this out; its the foreclosure stats for the Inland Empire, a group of cities to the east of LA that has become the commuter belt.

caforeclosure2008q2_3.jpg

Not bad eh?

From the LA times Real Estate blog at http://latimesblogs.latimes.com/laland/?tr...ealestate-blogs

Have a nice day now,

Regards

SB.

It won't happen here, just read a little bit about option ARM negative amortization and you will realise why you fecking numpty!

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Guest DissipatedYouthIsValuable
It won't happen here, just read a little bit about option ARM negative amortization and you will realise why you fecking numpty!

Who needs negative amortization when you've lied your **** off to get 9X your salary.

A little bump up in non-discretionary spending, and cascading job losses is all that's needed.

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It won't happen here, just read a little bit about option ARM negative amortization and you will realise why you fecking numpty!

If you honestly believe repossessions are not going to soar here then do you also think we are now at the bottom of the market?

Edit: SPG

Edited by libspero

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It won't happen here, just read a little bit about option ARM negative amortization and you will realise why you fecking numpty!

Sorry Booby, I've read all I can about them and from what I can see everyone here has two ARMs same as those folks in the US - what's the point you're trying to make ?

I have the Honour to be,

Sir,

Your Obedient Servant

STRBear

A Fecking Numpty

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Check this out; its the foreclosure stats for the Inland Empire, a group of cities to the east of LA that has become the commuter belt.

caforeclosure2008q2_3.jpg

Not bad eh?

From the LA times Real Estate blog at http://latimesblogs.latimes.com/laland/?tr...ealestate-blogs

Have a nice day now,

Regards

SB.

and 1996 got enough of a spike - blimey if that was similar to the uk we are all in deep doo doo.

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If you honestly believe repossessions are not going to soar here then do you also think we are now at the bottom of the market?

Edit: SPG

They already are. A relative is a repossession conveyancer and she is worked off her feet. Never ever been so busy.

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Sorry Booby, I've read all I can about them and from what I can see everyone here has two ARMs same as those folks in the US - what's the point you're trying to make ?

I have the Honour to be,

Sir,

Your Obedient Servant

STRBear

A Fecking Numpty

If you have 2 then you're above average.

I also don't see the point. It's just pushing people into negative equity quicker, like MEWing or a rapid decline in house prices. I thought the high rate of reposessions was to do with the way that US mortgage owners can send the keys back and walk away from the debt. They don't need to be in negative equity before this is the best solution, but it helps.

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They already are. A relative is a repossession conveyancer and she is worked off her feet. Never ever been so busy.

Hi Hoggums.. interesting anecdotal.. we seem to be getting more and more of these now and from what figures I have seen so far it certainly appears to be on an upward trend.

You must forgive me.. I was really just poking the troll/bull, we get precious little of that kind of amusement these days ;)

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It won't happen here, just read a little bit about option ARM negative amortization and you will realise why you fecking numpty!

The whole point of an option ARM mortgage was to allow the borrower the option of going above 100% Loan-To-Value (not all of the interest had to be paid initially, it would just be added to the principle and then paid off over the life of the loan). Most suck mortgages have stipulations, though, that once the LTV hits a certain ration, 110% or 120%, then the interest and principle have to be paid off together.

The reason you didn't see these loans in the UK is that there was no need -- you could go directly to the 125% LTV loan, something that is unheard of in the US. To believe that loan underwriting standards in the UK are higher than they were in the US is to be willfully blind to the evidence.

(Also, that graph is for the whole state of California, not just the Inland Empire area.)

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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