http://www.mofo.com/news/updates/files/15309.html

1. If they really showed us there cards of all the nods and foreclosure to come, and people who have not made a payment for 1yr or 1 1/2 yr without been given a nod. Why? because they want you to think the market is getting better. So now buyers are fighting to get these properties NOW. One yr ago was a different story. Remember 1 year ago when rejected REO sales from the bank and drops of buyer, yet you had and unbelievably inventor of homes.
So now they want the people to spend money get the economy moving and they are doing it. if they told the real true the investors and buyers would hold there pocket books.

2. Let say the REOs open up again like last year. The investor would wait and the buyers would want a BETTER DEAL!!!

3. Let’s not for get the good guys. The ones who did not get that bad loan or did not lose his or her job? He also was effected by the neighbor who got to buy a home(fake buyer’s), way out of his league. Don’t you fine it funny that they are not giving the 1.5 and up REO homes the home in the high end water areas, more who have gone back to the bank. They are still sitting vacant. Why ? because the banks can not get the value of the bottom line of what they want and the current homeowner good guy value would drop and a Godly rate and become so unreal. Doing the hype i remenber the Dream Mag. Lender would run adds with buy a 2.5 and up home 100% fin. or 1% down int only. fix for 2 years. People who bought way beyond there level of buying power in areas they should have never been in. Yet those home were are not see alot of why? the Good guy value factor.

http://loanworkout.org/2009/03/california-foreclosure-prevention-act/

Look banks are not nice or liked right now. Congressmen and women want to keep there job and the people are blowing there phones up about the lost of homes, vacant neighbor homes, and Mr. Banks who calls daily from India, and who bring fear into there homes. The banks are not nice, and are all greed right now. The people want justice. and with AB 603 may get it. I do not like the bill at all it not fair. Yet the people feel the banks have not been fair with them. Let’s watch the out come of this one. AB 603.
http://www.theloanmodlady.com
Shirley Husar

You could change the city to almost any USA and have the same out come… My investors keep asking me ‘are we there’… ‘NO NO NO’ is what I say… we have a lot of foreclosures to get through before this is over, but it is creating a great opportunity for wealth building for those who are not afraid to wade on in and buy for the long haul, loans are great right now and that will not last forever… the interest rates will go back up, and how knows with banks still closing the doors, they could start mandating even more downpayments on investor loans… and that would be a shame… we need investors to buy property…. oh well…

I agree with you 100%. This moratorium was just a political maneuver so Obama could let the public think the govt would come to the rescue. All it really did was delay the inevitable. Now the banks are going to take even larger losses as the market continued to decline during the moratorium.

There is no way to avoid this backlog of REOs. We just need to work through them and let th market slowly correct itself. I donlt think we’ve seen the bottom quite yet…