California Housing Inventory – 3.8 Months of Inventory if we only look at Public Data. The Financial Math behind California Home Prices and Artificially Low Inventory. Distress Inventory Still Dominating Market.
For a state like California getting an accurate figure on total inventory is always a challenge just because of the size of the state. Throw in the large amount of inventory that is held off view from the public and it is hard to get an accurate figure of what is out there. As of [...]
Strategic Default and Walk Away from that Albatross of a Mortgage – Strategic Default increased by 68 Times from 2005 to 2008 in California. The Economic Psychology of Walking Away and is a 200 Point Drop in Your Credit Score Worth Holding Onto a Property?
As the stigma wears away and more Americans find themselves with unmanageable housing payments, many are making the conscious decision to walk away from their mortgage. What occurs in a walk away, as opposed to a standard foreclosure, is the borrower is making a business decision to stop making their housing payment. Now this compares [...]
The New Mortgage Dynamics and the Anatomy of a Pay Option ARM Borrower. 850,000 Option ARMs Still Outstanding and 40 Percent in Distress. 4 Reasons to Walk Away from your Option ARM.
It is hard to believe that 13 percent of all mortgages are either in foreclosure or some other form of distress. This can stem from a missed payment from an unexpected job loss or mounting pressure of servicing current debt. To a large degree the allure of the option ARM product came from the ability [...]