Marin foreclosures up 38 percent from last year

Yes and the result for this will be another 20% drop in RE pricing through out Marin county, yes even in Tiburon.

bummer dude.

wow. When everyone runs out of money, then what... we can't all be volunteers!

OfCourse. People are losing their jobs left and right. And no new jobs are being created, yet groceries and the cost of living has gone up.
Its a scary, scary time.

Mortage company's want us to all just go away. This is the only way they can move forward. Its so sad that we as consumers have to pay the price for their bad lending practice. Its noted that the subprime loans were from private investors and they get a better tax write off by letting the house forclose than trying to help the home owner.

Oh, you poor foreclosed victims of bad lenders...

Come on folks: no one forced you to buy a house under such terms.

If you are really that innocent, here's a quick cheat sheet before your next brilliant purchase:

1) "Variable rate" means it's not a fixed rate. Of COURSE it's going to go up.

2) "Interest only mortgage" means you are essentially renting from the bank... forever. And if you still think it's a good deal because "the interest is tax deductible!", I'll trade you a shiny quarter for your crumply old dollar bill.

3) You were fully aware your broker was fudging your proof of income docs.

4) If your mortgage is twice what it would take to rent a comparable place... um... rent.

5) Hold off on buying a house for at least two more years. Foreclosures in Marin are just getting started...

6) Your mortgage shouldn't be more than 25% of your income. In the last 10 years, that advice changed to be no more than 36% of your income. Guess where that advice comes from?

7) And finally: your realtor, your broker, and your lender -- as friendly as they are -- at the end of the day have to meet their quota. They are not going to second guess your purchase and say "...are you sure you can afford this?"

Jasmine wrote:

OfCourse. People are losing their jobs left and right. And no new jobs are being created, yet groceries and the cost of living has gone up.
Its a scary, scary time.

is this jasmine or nikki?

Bob Brutyn, will your house go into foreclosure ? Just curious

Bobsajerk wrote:

Bob Brutyn, will your house go into foreclosure ? Just curious

Whats with the stupid name?

Little Joe Cartwright wrote:

<quoted text>Whats with the stupid name?

urs is MUCH better! its because thats what he is!

Bobsajerk wrote:

Bob Brutyn, will your house go into foreclosure ? Just curious

a lot of people are curious about this....

Jasmine wrote:

OfCourse. People are losing their jobs left and right. And no new jobs are being created, yet groceries and the cost of living has gone up.
Its a scary, scary time.

I was afraid Nikki did something with you! Still living at her home where her and her husband make six figures? Shouldnt be a scary time for you!

Great, maybe now I can get a place in Ross for less than $2 million.

I am still looking.

If you are in foreclosure and you need help I am offering free advice,

email me madmanmike1972@gmail.com