Market Ticker On Housing

Read it all here.

  • 70% of homes have a mortgage on them (the other 30% are “paid off.”)  This implies that approximately 10.5% of all all homes are delinquent or in foreclosure.
  • What should happen is that the auditors, bank regulators and examiners should go into these institutions and demand that any loan 60+ be marked to the current appraised value of the property less 10% for rehabilitation and sales expense.
  • That would give the banks and MBS-holders a powerful incentive to negotiate immediate short sales or deed-in-lieus, as doing so would relieve them of the 10% additional penalty in rehab and sales expenses.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: