Kevin and Fred Group 46:10, Arizona's Premier Short Sale Team discuss a recent article on the long term results of Loan Modifications
Kevin and Fred Group 46:10, Arizona's Premier Short Sale Team discuss a recent article on the long term results of Loan Modifications
See the full report. I have link on my blog at; http://www.phillyshortsale411.com/video-blog/ or just google; OTC & OCC Mortgage Metrics 4Q2009.
***Servicers initiated 259,410 new HAMP trial periods. 21,316 existing trial periods were made permenant.
***Short sales continued to grow as an alternative to foreclosure, increasing 22.2 percent to 37,584-more than doubling from the same quarter a year ago.
Really….not to bust your banking bubbles boys (accidental alliteration, nice) but at a rate of 7 percent default increase every three months, it will actually take 18 months from now to get to 100% and an additional month and a half to reach 103% that Kevin is claiming. However, when it reaches 100%, all banks will implode and the CEO’s will ride away in a large ark like structure built in the Himalayas. Ultimately, the CEO’s will be kicked off the ark because the government of India (who is obviously the only government with enough money to build a structure of that size) won’t allow them to modify the terms of their boarding agreement.
I care for such information much.