california unmber one market for Repo

[beatyourprice]

99% percent people that bought house in ca. with in a year, they going to lose their house. 95% people that bought house in ca. went with adjustable rate. this is study that done by couple bankers.

[pcdoc]

this is study that done by couple bankers

citations please

[VRI]

this is study that done by couple bankers

citations please

Here's a link directly to the article. I was amzed myself!

[Homesurfer]

Sounds like bullstuff. Or a joke. What the hell is going on with this thread?

[Jnazareno]

99% percent people that bought house in ca. with in a year, they going to lose their house. 95% people that bought house in ca. went with adjustable rate. this is study that done by couple bankers.

for now Georgia is the Leading foreclosure State with 1 for every 349 georgians being hit by foreclosures the last 2 months. Texas is the numero uno for having the most Foreclosures this year. but still Texas real estate is hot and have heard that the hot market is just beginning to heat up.
and as far as the rich states, New York Foreclosure rate is like 1 for every 1800 Yorkers. I forgot about CA (ya Live here too - lol) the states showing the most foreclosures are those poorer states like georgia, Tennesse and michigan (1 for every 408 household)

[W. Peterson]

99% Is this a joke?

If that stat were true, a state of emergency would have to be declared in not only California, but the entire nation.

Banks would fail, wall street would burn down, people would goto jail, and a government bailout of enormous proportion would be necessary.

Think about the numbers.

W. Peterson

webmaster for
Kissimmee Florida Real Estate
and a few others.

[Jnazareno]

It's going to be high and afraid it's gonna get ugly...I spoke with three Mortgage Brokers a few days ago (these brokers does about a million commission a year each)
and lately the refi's been going crazy for homeowners wanting to keep the home instead of going into some sort of foreclosures or from going to fixed rate...(according to them).

[judyo]

But 99%! I can see a problem coming with the high sales prices in CA (& other states). But the original post (ridiculous post I should add, with no back-up) made a pretty stupid prediction, and wasn't even intelligent enough to leave a link to his/her spam.

[Jnazareno]

Sorry - that's correct 99% is very high...

[W. Peterson]

Anyone who's interested, ask your Mortgage Broker friends this question.

What would happen if 1 out of every 5 loans closed by them (20%) were to go into default within the first 12 months?

Here's a clue... HUD Investigators

I have to believe that the author of the original post misquoted the article. A harmless mistake.

webmaster for
Kissimmee Florida Real Estate
and a few others.