HOUSING: Banks waiting longer to foreclose (5385)

Sep 5, 2008 4:31 PM - Tags: top CAL Business Local @import url('/shared-content/newsys-yahoo-search/css/content_match_styles.css'); Ads by Yahoo! No Time for School Graduate Online

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Bill wrote on Aug 31, 2008 4:38 PM:Sounds like there has never been a better time to stop paying your mortgage!

Susan wrote on Aug 31, 2008 9:39 PM:I stopped paying my mortgage in January. But that's because I paid off the house with that last payment.

Mike wrote on Aug 31, 2008 11:16 PM:This is a great article to motivate someone just thinking about walking away from their mortgage to see how long they get to stand before the walking.

Bill wrote on Sep 1, 2008 6:35 AM:Some homeowners in the area have gone months without paying their mortgages and have yet to receive a foreclosure notice...my bet is that with many of those, nobody even knows who the noteholder is anymore. And many of those banks who actually do own the property (forget being swamped) actually dont even know they own it!

Bill wrote on Sep 1, 2008 6:44 AM:a good strategy might be for the buyers cousin, errr, I mean total stranger, to enter the property, change the utilities to his name, pay the property taxes for 5 years and see if the bank doesnt foreclose, giving him a shot at adverse possession

OCMike wrote on Sep 1, 2008 10:24 PM:And people are starting to call bottom in Corona,Riverside etc...hmmmm, these so-called experts (Realtors) are going to look like fools again.

OpenMindedRealtor wrote on Sep 1, 2008 10:36 PM:Yes we are brainwashed sheeple, but even a broken clock is right twice a day, haha. Lets see how this plays out. Sooner or later the I.E. will pull down OC much more than we realize. OC can not have a $300k premium...Example: Last OC exit on the 91E at Gypsum 4 Bdrm, 3 Bath, 2500 SqFt goes for minumum $680k, Same house off the First Exit in Corona at Green River is $380k-$400k. OC Realtors can not keep this a secret any longer.

elly wrote on Sep 2, 2008 10:52 AM:I have a feeling that you don't know what you are talking about.This is the most stupid site for housing market.You forget to mention one thing -THE HOUSING MARKET IS VERY , VERY LOCAL!!!!!!!!!!!dO NOT COME UP WITH YOUR STUPID SCENARIOS .wHEN YOU BUY A HOUSE YOU HAVE TO 18 YRS OLD - AT LEAST.lET EVRYBODY TO MAKE THEIR OWN DECESION.Give the right info if you want to help - not your opinion.!

why wrote on Sep 3, 2008 11:19 AM:sounds like this article promotes irresponsibilty....kinda like oh well what me worry

Today's Stories LETTERS: NCT, Sept. 4, 2008LETTERS: NCT, Sept. 5, 2008ESCONDIDO: Rapist gets 8 years, deportationOCEANSIDE: Capistrano Park residents frustrated by base traffic flowESCONDIDO: City's Grand Ave. going upscale HOUSING: Banks waiting longer to foreclose (5401)ESCONDIDO: City, tow companies rake in millions from unlicensed drivers (3220)VISTA: Vista Village loses an anchor (2914)VISTA: 'Top 10' suspect arrested (2289)REGION: Demand for workers remains high in some sectors (2266)