Comments on: CALIFORNIA HOME FORECLOSURE SALES JUMP 22.5%

By: San Diego medical research

San Diego medical research — Tue, 19 Aug 2008 20:28:51 +0000

Everyone likes to talk about the foreclosures as if it's a bad thing when the reality is that it's an incredibly good thing. All the bad loans inflated the market well beyond what it should have been. As these people default on their bad loans the price of housing corrects, as it should, and maybe the rest of us get to buy. This story is good news and it should be reported as such. Or, would we all be better off if the government steps in and inflates pricing again. San Diego Medical Research Studies

By: San Diego Cosmetic Surgery

San Diego Cosmetic Surgery — Tue, 19 Aug 2008 20:28:06 +0000

Dummies should have made sure they could afford houses before buying them. Lenders should have been more analytical is choosing borrowers who really had the capacity to repay loans at whatever the maximum interest rate could be after any teaser rate ended. Fools--all of the players in this drama are fools. San Diego Cosmetic Surgery Doctor

By: San Diego lasik surgery

San Diego lasik surgery — Tue, 19 Aug 2008 20:27:18 +0000

2010-2011. That means more foreclosures in the future. San Diego Lasik Surgery doctor

By: San Francisco attorneys

San Francisco attorneys — Tue, 19 Aug 2008 20:26:38 +0000

Not all foreclosures are due to bad mortgages. I would imagine a healthy number are from folks being out of work too. High and prolonged unemployment has gotta spike the foreclosures. San Francisco Family Law Attorney

By: San Diego California dentist

San Diego California dentist — Tue, 19 Aug 2008 20:25:44 +0000

If you could not afford to buy a house then you should not have. Plain and simple. San Diego Family Dentist

By: San Diego California real estate agents

San Diego California real estate agents — Tue, 19 Aug 2008 20:24:42 +0000

given the ratio to income to sales price in Calif the foreclosure crisis will be a Calif problem for many years. Until the recent bubble lending 3 times income was a good yardstick but now it ranges from 6 to 10 times income and this has become the norm. A good example would be the city of Santa Rosa BMR problem that has a cap of 50K income for houses costing 304K using the FHA 3% down program. Low income cannot afford a 300K home, only in Calif is this type of thinking keep alive by local and state gov't. In fact the State yesterday wants to give low income families 100% financing for foreclosure homes in the most impacted parts of the state. These homes require extensive rehab which low income citizens do not have and will again provide a new wave of foreclosures in the coming years. San Diego Real Estate Sales