Comments on: Bulk REOs Are Going To Be Even BIGGER Business in 2009.. http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/ Your Resource for Bulk REO & NPN Thu, 29 Oct 2009 18:54:21 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Nicole London http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-61 Nicole London Thu, 22 Jan 2009 15:34:11 +0000 http://buybulkreosnow.com/?p=172#comment-61 I totally agree why are they being so reactive as oppose to being proactive....The same old corporate BS let's see if they will come up with the money and if they do then they don't need it... however they don't realize that most people in these type of loans are borrowing from Peter to pay Paul and that can only go so far...These banks have the control to make the housing market recover much sooner, they just simply refuse to out of being GREEDY!!!....A slow dollar is better then a quick dollar any day and this housing crash is the proof of that!!!! I totally agree why are they being so reactive as oppose to being proactive….The same old corporate BS let’s see if they will come up with the money and if they do then they don’t need it… however they don’t realize that most people in these type of loans are borrowing from Peter to pay Paul and that can only go so far…These banks have the control to make the housing market recover much sooner, they just simply refuse to out of being GREEDY!!!….A slow dollar is better then a quick dollar any day and this housing crash is the proof of that!!!!

]]> By: Dan Basil http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-59 Dan Basil Wed, 21 Jan 2009 04:42:07 +0000 http://buybulkreosnow.com/?p=172#comment-59 One question to all. Where is the National Associatoin of Realtors when it comes to this issue. That someone who should be telling our legislators is our very own Association (who we pay to do this job). One question to all. Where is the National Associatoin of Realtors when it comes to this issue. That someone who should be telling our legislators is our very own Association (who we pay to do this job).

]]> By: Christy Watychowicz http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-56 Christy Watychowicz Tue, 13 Jan 2009 16:41:54 +0000 http://buybulkreosnow.com/?p=172#comment-56 I could not agree more with Ms. Cooper-Garcia. I too have been questioning the "fixes" since those who need it most won't qualify for them. The people with the toughest mortages got them interest-only, no-doc, zero down...and add into that a depressed property value and no bank will refinance them, they are stuck until they either fall into foreclosure or a short sale situation. My question has been, if the bank already has a loan amount above the property value, what's the harm in refinancing that same amount - the bank would have the same situation but the borrower might actually PAY THEM BACK! We have had clients who could continue to live in their home and make the payment if only they had a reasonable interest rate. I could not agree more with Ms. Cooper-Garcia. I too have been questioning the “fixes” since those who need it most won’t qualify for them. The people with the toughest mortages got them interest-only, no-doc, zero down…and add into that a depressed property value and no bank will refinance them, they are stuck until they either fall into foreclosure or a short sale situation. My question has been, if the bank already has a loan amount above the property value, what’s the harm in refinancing that same amount – the bank would have the same situation but the borrower might actually PAY THEM BACK! We have had clients who could continue to live in their home and make the payment if only they had a reasonable interest rate.

]]> By: Larry Rossi http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-55 Larry Rossi Sun, 11 Jan 2009 00:33:11 +0000 http://buybulkreosnow.com/?p=172#comment-55 can someone give me the name of the man in Florida that is cleaning out the foreclosed properties Thank You can someone give me the name of the man in Florida that is cleaning out the foreclosed properties
Thank You

]]> By: Mona Lisa Matthews http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-52 Mona Lisa Matthews Fri, 09 Jan 2009 19:29:17 +0000 http://buybulkreosnow.com/?p=172#comment-52 With all of the media coverage, education on foreclosures, articles, and meetings I have been to or read on this subject, I really feel we need to do everything we can through NAR, personal contacts, and any other groups we belong to, to encourage our legislators to be sure that whatever laws or bailouts are passed help to stop the foreclosures. The investors of these bulk reos and banks across the board need to refinance for folks in distress into 30 or 40 year fixed rate loans in a 35-38% payment/income ratios. The principle amounts are what need to be negotiated. Stop the foreclosures, rewrite the loans, and it will stabilize the market to a great extent. Tell NAR, tell your congressman: stop the foreclosures! Just my opinion. With all of the media coverage, education on foreclosures, articles, and meetings I have been to or read on this subject, I really feel we need to do everything we can through NAR, personal contacts, and any other groups we belong to, to encourage our legislators to be sure that whatever laws or bailouts are passed help to stop the foreclosures. The investors of these bulk reos and banks across the board need to refinance for folks in distress into 30 or 40 year fixed rate loans in a 35-38% payment/income ratios. The principle amounts are what need to be negotiated. Stop the foreclosures, rewrite the loans, and it will stabilize the market to a great extent. Tell NAR, tell your congressman: stop the foreclosures! Just my opinion.

]]> By: Abdul Karmach http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-51 Abdul Karmach Thu, 08 Jan 2009 20:58:53 +0000 http://buybulkreosnow.com/?p=172#comment-51 Elizabeth, I agree with all that you're saying, but I am not the author or journalist. If you click on the link below the clip it will take you to the CBS website. I do think it's foolish to work with home owners only after missing payments, which causes more foreclosures, which causes artificially low real estate values. What an extraordinary time to BUY! Elizabeth, I agree with all that you’re saying, but I am not the author or journalist. If you click on the link below the clip it will take you to the CBS website.

I do think it’s foolish to work with home owners only after missing payments, which causes more foreclosures, which causes artificially low real estate values. What an extraordinary time to BUY!

]]> By: Elizabeth Cooper-Garcia http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-50 Elizabeth Cooper-Garcia Thu, 08 Jan 2009 18:19:34 +0000 http://buybulkreosnow.com/?p=172#comment-50 Your coverage was good, but missed an important point...which is that given the option, many borrowers could avoid foreclosure once that "interest-reset" period comes around by having the opportunity to modify their loans into a traditional fixed rate loan. However, traditional refinancing is NOT possible because property values have gone down. And there is the underlying issue and the point you missed. Why are banks dragging their feet when it comes to modifying loans? Why are banks requiring borrowers to be in arrears prior to providing any assistance, if at all? Why is the system set up to promote irresponsibility among borrowers in order to get attention? It must be in someone's interest for prices to continue falling as a result of increased foreclosures. Why has no one talked about stabilizing home prices? Why are communities, both new and established, allowed to suffer because no one comes up with a blanket solution to stabilize home values? One important step to stabilizing home values is to minimize the number of foreclosure sales in a community. A way of doing that is to allow current borrowers, whether subprime, alt-a, arm, or regular, to modify their existing loans at 4.5% to 5% rates of interest, regardless of their current home values. This will allow them to continue in their homes and pay their mortgages. Even if it for a 3-5 year period, this will disrupt the current continuous flow of foreclosure-inventory that is crushing home values. Your report mentioned it - home values have consistently increased since the Great Depression. The artificially high values that occurred from 2005-2007 have given way to artificially low values now and for the foreseable future. Someone needs to get the news out and I would hope it would be you. Without exception, not one single news agency has touched upon this underlying issue and you have to wonder why. I'm not a "big conspiracy" fan, but it really makes you wonder why banks would prefer to gain a "nonperforming asset" through foreclosure than to reap the profits, albeit a bit less than before, from a performing asset. Please confirm receipt of this Your coverage was good, but missed an important point…which is that given the option, many borrowers could avoid foreclosure once that “interest-reset” period comes around by having the opportunity to modify their loans into a traditional fixed rate loan. However, traditional refinancing is NOT possible because property values have gone down. And there is the underlying issue and the point you missed.

Why are banks dragging their feet when it comes to modifying loans? Why are banks requiring borrowers to be in arrears prior to providing any assistance, if at all? Why is the system set up to promote irresponsibility among borrowers in order to get attention?

It must be in someone’s interest for prices to continue falling as a result of increased foreclosures. Why has no one talked about stabilizing home prices? Why are communities, both new and established, allowed to suffer because no one comes up with a blanket solution to stabilize home values?

One important step to stabilizing home values is to minimize the number of foreclosure sales in a community. A way of doing that is to allow current borrowers, whether subprime, alt-a, arm, or regular, to modify their existing loans at 4.5% to 5% rates of interest, regardless of their current home values. This will allow them to continue in their homes and pay their mortgages. Even if it for a 3-5 year period, this will disrupt the current continuous flow of foreclosure-inventory that is crushing home values.

Your report mentioned it – home values have consistently increased since the Great Depression. The artificially high values that occurred from 2005-2007 have given way to artificially low values now and for the foreseable future.

Someone needs to get the news out and I would hope it would be you. Without exception, not one single news agency has touched upon this underlying issue and you have to wonder why. I’m not a “big conspiracy” fan, but it really makes you wonder why banks would prefer to gain a “nonperforming asset” through foreclosure than to reap the profits, albeit a bit less than before, from a performing asset.

Please confirm receipt of this

]]> By: Marilyn White http://www.buybulkreosnow.com/2008/12/bulk-reos-are-going-to-be-even-bigger-business-in-2009/comment-page-1/#comment-45 Marilyn White Wed, 24 Dec 2008 23:34:36 +0000 http://buybulkreosnow.com/?p=172#comment-45 I'm into selling bulk REOs. I want more contacts. Who's buying? Who's selling? E-me marauda.frisco@yahoo.com Marilyn White I’m into selling bulk REOs. I want more contacts.

Who’s buying?

Who’s selling?

E-me

marauda.frisco@yahoo.com

Marilyn White

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