MBA Delinquency Data Not As Dire As RealtyTrac Reports

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Doug — Mon, 20 Aug 2007 11:00:00 GMT

Banks refuse to lower interest rates on adjustable rate loans. Because the FEDS bail out the banks when they BANKRUPT. After attempting to lower their rate and being told that they will have to pay steep pre payment penalties. Buyers give up and end up getting foreclosed on after months of frustration. Why should the bank be allowed to charge high interest rates and pre payment penalties? While at the same time most buyers would keep their homes if rates were lowered and pre pays were waived.

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Troy — Wed, 11 Jul 2007 11:00:00 GMT

If people want the government out of their lives, they need to take responsibility for their actions. The government bails out (through foreclosure laws and bankruptcy) individuals who are in over their heads, when enough individuals default on a bank's loans, the government bails the banks out. Banks should not rely on gov. bailout, and make good business decisions regarding qualification of an individual for a loan. As long as there's somebody to bail you out, ones judgement is skewed.

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Steve — Fri, 06 Jul 2007 11:00:00 GMT

At the bottom of the article, it says the data taken for the analysis was culled from "MBA data covers approximately 44 million loans, about 80 percent of all first lien residential one to four family mortgage loans in the U.S" So does that indicate that they used no data involving homes with more than 1 lien? I would like to know the number in the US with multiple Liens on them and what the default rates are on those?

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

cjh — Tue, 26 Jun 2007 11:00:00 GMT

Everyting I have read of late is to cover for the guilty feelings that all have and to hide the facts in drivel and confusion that has been perpetrated by those who have ripped off the families of America. Who cares if someone doesnt have a retirement home? Most of those who have been ripped off were painfully aware that they had only one more chance at owning their own home. most were hard working and honest to a fault. How bout them apples?

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Donna Robinson — Sat, 23 Jun 2007 11:00:00 GMT

The wild card in all of this is foreclosures among the investor segment of the market. Investor activity helped to keep the "boom" going, and now those investor related subprime loans are escalating in interest rates, payments are increasing, and many are 80/20 piggybacks that can't cash flow in a good rental market. I predict that Bear Sterns Hedge Fund story is just one of many to come. Watch for major secondary market problems in late 2007.

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Don Reynolds — Sat, 23 Jun 2007 11:00:00 GMT

I would believe that most of the forclosures in Arizona (my home state) are not home owners, but rather wanna-be investors who got caught in the hype 2 years ago. Why isn't anyone talking about the world wide aging of the baby boomers who most likely will want to retire or have a 2nd home in Arizona. I hope lending restrictions do not kill their dreams of a retirement home.

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Sandra — Fri, 22 Jun 2007 11:00:00 GMT

Roberta is correct in saying the 95% of people do pay their loans. The problem is the 5% that are not paying owe thousands more than their home is worth. If you look at CA people bought million $ homes at over-inflated values and will lose a million or so on each foreclosure. So the bank is going to lose hudnred of thousands, if not millions of $'s. Losing millions on 5% of the properties is going to kill them. What happens when the bank starts losing so much money that they go bankrupt?

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Bobby — Thu, 21 Jun 2007 11:00:00 GMT

Here's the truth no one wants to talk about. Most people live paycheck to paycheck so if ANYTHING major happens in life, there's a good chance for foreclosure. Consumers, in general, don't want to take resposibilty for anything. So when something bad happens, let's find someone to blame. The goverment wants to get involved so they can "look" good. They want more disclosures. Have you been to a closing lately?! Ignorance is never an excuse!

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Ben — Tue, 19 Jun 2007 11:00:00 GMT

What about the problem with government controlling the American public and private and public banks. How can a government tell a business and a citizen who can and cannot qualify for a loan. Qualifications should be up to the business, Right? Or is the government coming in and controlling private business now? I thought democracy is about less government control and more public control! Now, government thinks they can control private business and home ownership. Where is this coutry going?

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Roberta — Sat, 16 Jun 2007 11:00:00 GMT

Are our legilsators throwing the baby out with the bathwater? By proposing legislation that limits a borrowers ability to purchase new homes under these programs, I suspect they will reduce foreclosures, but they will also take away the American Dream of Homeownership from so many more! I suggest to anyone who can afford it, start buying up property, in good neighborhoods, and get ready for the rental boom!

RE:MBA Delinquency Data Not As Dire As RealtyTrac Reports

Roberta — Sat, 16 Jun 2007 11:00:00 GMT

Between 4 and 5% of borrowers are delinquent facing possible foreclosure. What about the 95% of borrowers who are making their payments, and enjoying the benefits of homeownership? Many of whom would not have been able to buy their homes if not for interest omly loans, adjustable rate loans and liberal underwriting guidelines.