2010-10-04ml-implode.com

``A leading mortgage analyst predicts over 11 million homeowners will default and lose their home if the government fails to take more radical intervention... The authors dismiss recent talk of mortgage performance improvement as statistical sleight-of-hand magically conjured by modifications... The report offers an astounding forecast of the fate of severe negative-equity properties. Nineteen percent of properties with a loan-to-value (LTV) of 120% or greater are defaulting every year. A death-defying 75% of mortgages on 120% LTV properties will eventually go bad''



Comments:

catherine at 07:36 2010-10-05 said:
IT will MATCH the unemployment numbers..................DUH???? Permalink
Georgetown at 12:41 2010-10-05 said:
Why would anyone be suprised that people who purchased homes they clearly cannot afford, with little or no money down, continue to default on their mortgages?

Despite what some thought, home lending is not without risk, 25/35 are still good rules of thumb as debt service maximums especially for anyone who is not bringing min 10% of the purchase price in 'savings' (not borrowed) to the table.

Watch for significant home price correction if a Speaker Boehner gets his way on eliminating mortgage interest tax deduction. Permalink

catherine at 13:41 2010-10-05 said:
Why would anyone be suprised that people who purchased homes they clearly cannot afford, with little or no money down, continue to default on their mortgages?

Despite what some thought, home lending is not without risk, 25/35 are still good rules of thumb as debt service maximums especially for anyone who is not bringing min 10% of the purchase price in 'savings' (not borrowed) to the table.

Watch for significant home price correction if a Speaker Boehner gets his way on eliminating mortgage interest tax deduction.

:lol: :lol: yeah you are dead on right, YOU NEED A JOB, how could those fools buy something they couldn't afford when they lost their jobs, idiots :roll: :roll: someone like you I am sure could pay all your bills if all your streams of income stopped today.............

what? do you guys still talking this just blow by those 450-500,000 job losses at a week to two week clip for THREE YEARS NOW? :lol: :lol: :lol:

right up alongside the huge AND GROWING foreclosure numbers for the last 3 years -come on - they are even in the same section of the paper, sometimes on the same page.................does the media really have to pour the milk on the cereal for you?

Do you have a clip or article of Boehner wanting to gut the mortgage interest deduction?? Permalink

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