Real Estate to grind to a halt, boom for Gold & Silver?
Wolf359
Posts: 7,657 ✭✭✭
JP Morgan stops using MERS
If you have a MERS mortgage, you may have a home that cannot be foreclosed upon because MERS has no standing in state courts (Missouri, Ohio, Florida) to foreclose. So the real estate industry is in deep do do with title
questions that appear to have no possible resolution. The TBTF banks either need a new bailout or they go down for count. How will this affect Gold and Silver? Are we at the edge of a titanic explosion?
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Comments
I heard no actions until after elections so I'm thinking both party's are worried big time.
Oh, and IMHO it doesn't matter, gold and silver will go up as the dollar goes down which HAS to happen regardless. The economy has to grow in either real or nominal terms to absorb the our national debt (and we all know there's no real growth out there).
Randy
...despite various comments from the Obama administration, foreclosures are governed by state law. There is no real federal jurisdiction.
Foreclosure Fraud: It's worse than you think
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Zero Hedge had an interesting post today that should scare the hell out of all of us:
"In an effort to rush through thousands of home foreclosures since 2007, financial institutions and their mortgage servicing departments hired hair stylists, Walmart floor workers and people who had worked on assembly lines and installed them in "foreclosure expert" jobs with no formal training, a Florida lawyer says." And it gets even scarier - these "experts" pretty much all confirm they participated in fraud, either willingly or unwillingly: "In depositions released Tuesday, many of those workers testified that they barely knew what a mortgage was. Some couldn't define the word "affidavit." Others didn't know what a complaint was, or even what was meant by personal property. Most troubling, several said they knew they were lying when they signed the foreclosure affidavits and that they agreed with the defense lawyers' accusations about document fraud." And here is punchline: " In what is perhaps a sign of things to come, a Simi Valley, Calif., couple and their nine children broke into their foreclosed home over the weekend and moved back in, according to television station KABC of Simi Valley. The family was evicted from their Spanish-style two-story in July. The home has been sold, and the new owner was due to move in soon." And this is a problem that will go away in a few months?"
Zero Hedge post
Any chance we had of not experiencing the "projected" upcoming Greater Depression just got eliminated. Hold on to your seats for this one folks. Here's an interesting link to request info on who holds your mortgage note. Turns out the law is on your side in seeking this information.
Where's The Note?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
In addition, the tidal wave of Prime loan resets will crest next spring-summer.
US real estate is headed lower long term.
bank until they are paid off. That is, for the banks that are still in business when
this matter is resolved. I do not know how others feel, but the big financial institutions
and their blood sucking executives have to be burned until they are charred. Unfortunately
the FDIC does not have the money to make good on the big banks deposits if they go under.
For the folks who hate all government regulations and strong enforcement, this is what happens
yo J6P. In the end it is the working stiffs that will pay the price.
Camelot
Gonzalo strikes again
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Camelot
I knew it would happen.
<< <i>This seems like a real good time not to dabble in real estate. >>
Probably a good time to verify who actually holds your mortgage note. Reqardless of how long ago you bought your home, if the note got lost in the MBS shuffle, it could very well affect you when you either sell or pay off the note.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Art often imitates life. Unfortunately, I believe this is where we are headed. Idiocracy
Box of 20
<< <i>Art often imitates life. Unfortunately, I believe this is where we are headed. Idiocracy >>
Almost every human advancement since we developed speech has diminished the
value and utility of reason and intelligence. This de-evolution really started 40,000
years ago and started gaining steam 4000 years ago.
It's certainly been gathering momentum in the last few decades.
<< <i>
Almost every human advancement since we developed speech has diminished the
value and utility of reason and intelligence. This de-evolution really started 40,000
years ago and started gaining steam 4000 years ago.
It's certainly been gathering momentum in the last few decades. >>
That might be the most ridiculous thing ever said on here (not that there isn't a lot of competition)
Liberty: Parent of Science & Industry
I think a lot of buyers are starting to realize that interest rates are indeed going to move up combined with people that would like to sell ( downsize) but are fearful that they wont be able to find suitable housing in return. Net result- sellers market.
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>In So Cal it's a strong sellers market. There is a shortage of houses for sale (extreme in some areas) and homes are selling for over list.
I think a lot of buyers are starting to realize that interest rates are indeed going to move up combined with people that would like to sell ( downsize) but are fearful that they wont be able to find suitable housing in return. Net result- sellers market.
Mark >>
It is the same in northern California.
Lack of inventory is resulting in very robust sellers market.
In other news:
Who doesn't enjoy a good revival ?
Liberty: Parent of Science & Industry
<< <i>Buying another vacation/rental place, this one in the Pacific Northwest. It was on the market 2 days, sold for more than the asking price, and had multiple backup offers, some all cash, in case our deal fell through. >>
That kind of buying behavior is usually associated with market tops
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
Liberty: Parent of Science & Industry
<< <i>
<< <i>Buying another vacation/rental place, this one in the Pacific Northwest. It was on the market 2 days, sold for more than the asking price, and had multiple backup offers, some all cash, in case our deal fell through. >>
That kind of buying behavior is usually associated with market tops >>
It a lot of situations with cash offers its coming from overseas buyers/money
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
<< <i>
<< <i>Buying another vacation/rental place, this one in the Pacific Northwest. It was on the market 2 days, sold for more than the asking price, and had multiple backup offers, some all cash, in case our deal fell through. >>
That kind of buying behavior is usually associated with market tops >>
It a lot of situations with cash offers its coming from overseas buyers/money
Mark >>
Similar to all the people saying that there is "money on the sidelines"?
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
<< <i>
<< <i>
<< <i>
<< <i>Buying another vacation/rental place, this one in the Pacific Northwest. It was on the market 2 days, sold for more than the asking price, and had multiple backup offers, some all cash, in case our deal fell through. >>
That kind of buying behavior is usually associated with market tops >>
It a lot of situations with cash offers its coming from overseas buyers/money
Mark >>
Similar to all the people saying that there is "money on the sidelines"? >>
Homes buy residency.
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>Buying another vacation/rental place, this one in the Pacific Northwest. It was on the market 2 days, sold for more than the asking price, and had multiple backup offers, some all cash, in case our deal fell through. >>
That kind of buying behavior is usually associated with market tops >>
It a lot of situations with cash offers its coming from overseas buyers/money
Mark >>
Similar to all the people saying that there is "money on the sidelines"? >>
Homes buy residency.
Mark >>
for all cash?
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>Buying another vacation/rental place, this one in the Pacific Northwest. It was on the market 2 days, sold for more than the asking price, and had multiple backup offers, some all cash, in case our deal fell through. >>
That kind of buying behavior is usually associated with market tops >>
It a lot of situations with cash offers its coming from overseas buyers/money
Mark >>
Similar to all the people saying that there is "money on the sidelines"? >>
Homes buy residency.
Mark >>
for all cash? >>
All cash deals usually trump other offers. Lots of the all cash deals are coming from overseas. It's easier to become a citizen if you own a home.
EB-5 Investor Green Cards. Need $500,000.
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Very few Americans buy their primary residence with all cash
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
That's right. They borrow most of the money for their primary residence, and let the tax advantaged, low interest rate leverage work for them over time.
Some American investors do buy second, third, etc homes and investment properties with all cash, or at least higher minimum % down payments that the lenders require.
Liberty: Parent of Science & Industry
<< <i>
Very few Americans buy their primary residence with all cash >>
The percentage currently runs from 40% to 60% depending upon the area.
Money from overseas has always tened to flow into real estate here. Every crony capitalist or crony communist wants their stolen money in dollar denominated hard assets .
If they want to emigrate here that badly then maybe they feel that paying too much for a house is preferable to a bullet in the back of the neck
<< <i>
<< <i>
Very few Americans buy their primary residence with all cash >>
The percentage currently runs from 40% to 60% depending upon the area. >>
And the majority of those are using cash from the sale of their current home to step down to a smaller home.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
apt for rent
<< <i>Very few Americans buy their primary residence with all cash >>
How true. It's been like that for at last 50 years. I most certainly did not pay cash when I first purchased a house in 1975 and did not pay cash for the house I'm living in now, purchased 31 years ago. Yes, I did use the gain from the sale of my first house as a substantial down payment.
<< <i>Real Estate to grind to a halt, boom for Gold & Silver? >>
Obviously not....
<< <i>
<< <i>Very few Americans buy their primary residence with all cash >>
How true. It's been like that for at last 50 years. I most certainly did not pay cash when I first purchased a house in 1975 and did not pay cash for the house I'm living in now, purchased 31 years ago. Yes, I did use the gain from the sale of my first house as a substantial down payment.
<< <i>Real Estate to grind to a halt, boom for Gold & Silver? >>
Obviously not.... >>
And that's why there really is no one to actually buy silver, no lower class has any investable money, middle class can't buy any significant assets without a 30 year note or 2, and the wealthy buy technology, income streams, and 100 million dollar plus paper with paint on it...
Knowledge is the enemy of fear
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey