Comments on: Speaker of House Nancy Pelosi Says 1 in 20 California Homeowners Will Be in Foreclosure http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/ Real Estate Blog, Mortgage, and Development News Sat, 20 Mar 2010 11:25:08 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Phyllis Harb http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/comment-page-1/#comment-202445 Phyllis Harb Wed, 30 Apr 2008 16:11:07 +0000 http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/#comment-202445 Actually, a good majority of the foreclosures seem to be home owners that took all of the equity out of their home (refis and 2nds) - so they spent their house.... Actually, a good majority of the foreclosures seem to be home owners that took all of the equity out of their home (refis and 2nds) – so they spent their house….

]]> By: Carrie http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/comment-page-1/#comment-201657 Carrie Mon, 28 Apr 2008 18:40:26 +0000 http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/#comment-201657 I thought I saw Credit Suisse (probably spelled wrong) just came out with a prediction that 12>7% of all American homeowners with a mortgage will be in foreclosure by the time this is over. So is Ms. Pelosi out of line? I don't think so! Let's start talking about the problem in reality... maybe more people will adress their situation before they run out of options. That being said, I do agree that MANY people bit off way more than they could chew... so their best option is not to just give it back to the bank or walk away.. sell the property, even short sale it... don't just leave another house, driving down prices and driving up neighborhood crime. I thought I saw Credit Suisse (probably spelled wrong) just came out with a prediction that 12>7% of all American homeowners with a mortgage will be in foreclosure by the time this is over. So is Ms. Pelosi out of line? I don’t think so! Let’s start talking about the problem in reality… maybe more people will adress their situation before they run out of options.

That being said, I do agree that MANY people bit off way more than they could chew… so their best option is not to just give it back to the bank or walk away.. sell the property, even short sale it… don’t just leave another house, driving down prices and driving up neighborhood crime.

]]> By: Ideal4Investors http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/comment-page-1/#comment-201620 Ideal4Investors Mon, 28 Apr 2008 15:05:31 +0000 http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/#comment-201620 To reality's comment-- the fact that those making $40K were buying $850K homes (because that's how much they cost in many parts of CA) drove people to subprime "stated" loans. Slate had an article on this on Friday calling stated "liars loans." To reality’s comment– the fact that those making $40K were buying $850K homes (because that’s how much they cost in many parts of CA) drove people to subprime “stated” loans. Slate had an article on this on Friday calling stated “liars loans.”

]]> By: reality http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/comment-page-1/#comment-201613 reality Mon, 28 Apr 2008 14:32:44 +0000 http://www.therealestatebloggers.com/2008/04/28/speaker-of-house-nancy-pelosi-says-1-in-20-california-homeowners-will-be-in-foreclosure/#comment-201613 Maybe you can not afford a 850,000 home if you make 40,000 a year... that is not the rest of our fault. Maybe you can not afford a 850,000 home if you make 40,000 a year… that is not the rest of our fault.

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