 Pending drop? (by Sisco [MO]) Jul 23, 2021 11:41 AM
 Pending drop? (by #22 [MO]) Jul 23, 2021 12:01 PM
Pending drop? (by Dave [MO]) Jul 23, 2021 12:19 PM
Pending drop? (by Ken [NY]) Jul 23, 2021 2:03 PM
Pending drop? (by RB [MI]) Jul 23, 2021 2:17 PM
Pending drop? (by BRAD 20,000 [IN]) Jul 23, 2021 2:30 PM
Pending drop? (by JAC [OH]) Jul 23, 2021 2:39 PM
Pending drop? (by Allym [NJ]) Jul 23, 2021 3:55 PM
Pending drop? (by PG [SC]) Jul 23, 2021 5:37 PM
Pending drop? (by Barb [MO]) Jul 23, 2021 6:09 PM
Pending drop? (by Gail K [GA]) Jul 24, 2021 12:02 AM
Pending drop? (by Pat [VA]) Jul 24, 2021 6:40 AM
Pending drop? (by J [FL]) Jul 24, 2021 7:21 AM
Pending drop? (by WMH [NC]) Jul 24, 2021 9:24 AM
Pending drop? (by Oregon Woodsmoke [ID]) Jul 24, 2021 10:22 AM
Pending drop? (by Ray-N-Pa [PA]) Jul 27, 2021 9:46 PM
Pending drop? (by Sisco [MO]) Posted on: Jul 23, 2021 11:41 AM
Message:
1.55 million American homeowners haven't made a payment in 90+ days. Mortgage forbearance ends July 31 for the early takers of the no payment plan. --149.76.xxx.xxx |
Pending drop? (by #22 [MO]) Posted on: Jul 23, 2021 12:01 PM
Message:
One would think you'd be spot on.
I'm curious to see what the socialists on this board think.
This administration will further push the moratorium out. They'll keep it going as long as they can. --23.126.xx.xxx |
Pending drop? (by Dave [MO]) Posted on: Jul 23, 2021 12:19 PM
Message:
Here, the closing agent at the title company said half her closings were folks in forbearance. So, it would be wise for the ones that are behind on their mortgage, sale and come out cash ahead, by choosing who they sale to and not let the banks make that decision but that requires analytical thinking.
My thoughts are it will be a state by state. Blue states could have more bad news for banks and LL's.
Biden, doesn't know if he's a foot or horseback. --173.47.xxx.xxx |
Pending drop? (by Ken [NY]) Posted on: Jul 23, 2021 2:03 PM
Message:
Future inventory --72.231.xxx.xxx |
Pending drop? (by RB [MI]) Posted on: Jul 23, 2021 2:17 PM
Message:
Always be prepared for an opportunity. --24.151.xxx.xx |
Pending drop? (by BRAD 20,000 [IN]) Posted on: Jul 23, 2021 2:30 PM
Message:
Sisco,
Good to be thinking ahead!
With the rise in Covid numbers I suspect an extension or at least extra grace for late payers. It would be out of character for the current govt to drop the hammer on millions of people.
With home prices at an all time high a wise owner would consider selling to avoid foreclosure...but then again, most pre-foreclosure people I talk to do nto believe they will actually lose their home.
I also wonder how many of these millions are simply not paying because they don't have to. With all the govt handouts we have VERY FEW renters who did not keep up during the pandemic.
BRAD --73.102.xxx.xxx |
Pending drop? (by JAC [OH]) Posted on: Jul 23, 2021 2:39 PM
Message:
It may or may not be extended but we are approaching the end of these programs and it has been pretty successful. 2/3 of mortgage holders in forbearance have exited the program. As always some will take advantage of it all the way to the end for their financial benefit. Others will eventually fall into the foreclosure system. Whine all you want but it served it's purpose which was to keep people in their homes during a public health emergency. It would be interesting to get data on the political affiliation of those left on the program. --72.49.xxx.xxx |
Pending drop? (by Allym [NJ]) Posted on: Jul 23, 2021 3:55 PM
Message:
A federal court has just ruled the rent moratorium as federal overreach by the CDC. Article also said that Justice Kavanaugh did not end it because it was over soon anyway on July 31. --108.24.xx.xx |
Pending drop? (by PG [SC]) Posted on: Jul 23, 2021 5:37 PM
Message:
I agree with BRAD and JAC also I may add this - If you believe the current administration is going to let someone loose a home because of the inability to pay I have some beachfront property in Kansas I would like to sell you.
The Mortgage forbearance for the Gov backed loans will be extended / revised / whatever it takes to keep people in the home with the stroke of Bs pen.
Executive Orders and Federal Directives is the way this country is being run. Congress talks and the White house acts.
SAD fact is some people can NOT afford a house. Most everyone understands that, except the politicians looking for votes.
--172.242.xx.x |
Pending drop? (by Barb [MO]) Posted on: Jul 23, 2021 6:09 PM
Message:
If I remember correctly, the legislation that gave the mortgage forbearance said they could simply tack on the payments to the end of the mortgage. So, people who decided not to pay and enjoyed the extra cash MAY be able to simply extend their mortgage out another year or two. --149.76.xxx.xx |
Pending drop? (by Gail K [GA]) Posted on: Jul 24, 2021 12:02 AM
Message:
Barb is correct. That's the assumption on what will happen by realtors I talk with around here.
Gail --73.108.xxx.xxx |
Pending drop? (by Pat [VA]) Posted on: Jul 24, 2021 6:40 AM
Message:
The # 1 reason tenants want their own homes is because they don't want to have to follow "rules" (landlords).
So lets see how that works for them. PG (SC) is so right about not everyone can afford to own. --71.219.xx.xx |
Pending drop? (by J [FL]) Posted on: Jul 24, 2021 7:21 AM
Message:
There have been a couple of articles lately about home-buyers giving up their search because it's too difficult, and an organization was telling people to rent for now and wait for the market to cool down before attempting to buy.
Might not mean anything but could be a sign that this has finally gone over the top and a correction is coming?
--72.188.xxx.xxx |
Pending drop? (by WMH [NC]) Posted on: Jul 24, 2021 9:24 AM
Message:
In my area, it's lack of housing that is affecting price, and it's not speculation by investors. SFHs are being snatched up as fast as they go on the market and, if they were a rental, are being converted to private homes, second homes and/or AirBnBs.
There are exactly 5 homes listed as rentals on CL right now, and virtually none on FB.
I don't know anyone who lost their job because of Covid, not for any length of time.
The worst thing is happening here - and it's very real - is that lack of workers are forcing businesses to cut back hours and/or close altogether. --50.82.xxx.xxx |
Pending drop? (by Oregon Woodsmoke [ID]) Posted on: Jul 24, 2021 10:22 AM
Message:
The program hasn't ended until it has been ended and done.
A homeowner would have to be insane to let the bank take their home when they could put it on the market and sell fast at a high price.
Even junk places in bad condition are selling.
Perhaps the banks learned their lesson the last time and won't use foreclosure as their very first line reaction --76.178.xxx.xxx |
Pending drop? (by Ray-N-Pa [PA]) Posted on: Jul 27, 2021 9:46 PM
Message:
After seeing first hand how PPP loans were forgiven, I can foresee a bail out for the banks that prevent a melt down from occurring --24.101.xxx.xxx |
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