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.

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