Comments on: Muddy manse http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/ Tracking U.S. politics Tue, 21 May 2013 17:48:26 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: GotDOCG http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/comment-page-1/#comment-407241 GotDOCG Wed, 24 Mar 2010 04:07:14 +0000 http://blogs.reuters.com/frontrow/?p=23325#comment-407241 The simple facts are: 1) lenders are still DEMANDING homeowners first be no less than 60 days delinquent (a 180 point credit hit). 2) The process takes at least 7 months. 3) even when successful, the modifications put in place are not conducive to long term compliance... just the opposite. 4)IRS code makes it more profitable for lenders NOT to cooperate, and foreclose on homes... There are no less than another 3-4 million Option ARMS (100% of the WaMU, Wachovia and Downey portfolio's) that are underwater... cannot remotely be refinanced. with modification being the ONLY answer... Case Shiller, RealtyTrac and the rest of the "experts" are off by a factor approaching 100%... by the time that this bloodbath ends, in no less that 3-5 years, 23-25 homeowners will have been devastated... The simple facts are: 1) lenders are still DEMANDING homeowners first be no less than 60 days delinquent (a 180 point credit hit). 2) The process takes at least 7 months. 3) even when successful, the modifications put in place are not conducive to long term compliance… just the opposite. 4)IRS code makes it more profitable for lenders NOT to cooperate, and foreclose on homes…

There are no less than another 3-4 million Option ARMS (100% of the WaMU, Wachovia and Downey portfolio’s) that are underwater… cannot remotely be refinanced. with modification being the ONLY answer… Case Shiller, RealtyTrac and the rest of the “experts” are off by a factor approaching 100%… by the time that this bloodbath ends, in no less that 3-5 years, 23-25 homeowners will have been devastated…

]]> By: stevor http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/comment-page-1/#comment-405717 stevor Tue, 22 Dec 2009 07:39:00 +0000 http://blogs.reuters.com/frontrow/?p=23325#comment-405717 I wonder if he'll find some way to AVOID paying TAXES on it. Maybe he can use TurboTax, as Geithner did, plead being an ignoramus (like Geithner) and get away with it. I wonder if he’ll find some way to AVOID paying TAXES on it. Maybe he can use TurboTax, as Geithner did, plead being an ignoramus (like Geithner) and get away with it.

]]> By: eddieblack http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/comment-page-1/#comment-405706 eddieblack Mon, 21 Dec 2009 17:14:46 +0000 http://blogs.reuters.com/frontrow/?p=23325#comment-405706 It will cost more to operate and maintain each year than the auction price. It will cost more to operate and maintain each year than the auction price.

]]> By: Missinginaction http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/comment-page-1/#comment-405677 Missinginaction Sun, 20 Dec 2009 20:27:54 +0000 http://blogs.reuters.com/frontrow/?p=23325#comment-405677 Speaking of distressed real estate? How about the Llenroc Mansion located in Clifton Park in upstate New York. This 60,000 sq ft mansion is estimated to have cost upwards of $30,000,000.00 to build but just sold for a paltry $1,900,000.00. Follow the link below for an interesting story on one of New Yorks biggest real estate misadventures.... http://www.timesunion.com/AspStories/story.asp?storyID=879676&TextPage=2 Speaking of distressed real estate? How about the Llenroc Mansion located in Clifton Park in upstate New York. This 60,000 sq ft mansion is estimated to have cost upwards of $30,000,000.00 to build but just sold for a paltry $1,900,000.00.

Follow the link below for an interesting story on one of New Yorks biggest real estate misadventures….

http://www.timesunion.com/AspStories/sto ry.asp?storyID=879676&TextPage=2

]]> By: mdspatsy http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/comment-page-1/#comment-405639 mdspatsy Fri, 18 Dec 2009 21:04:28 +0000 http://blogs.reuters.com/frontrow/?p=23325#comment-405639 This is a balance writings on this lively subject. Without proper, affordable price on buying and selling houses, price corrections, knowledge on day today prices on luxury segments, then, it will be very difficult to monitor and likely involved in these segments.Of course, U.S.A. markets are started to showing some encouraging results, but not yet totally on main stream. My sincere advice to U.S.A. Citizens to wait,watch,analyse on any important sectors and then, they can decide whether to purchase or sell their hereditary properties and for new purchases. This is a balance writings on this lively subject.
Without proper, affordable price on buying and selling houses, price corrections, knowledge on day today prices on luxury segments, then, it will be very difficult to monitor and likely involved in these segments.Of course, U.S.A. markets are started to showing some encouraging results, but not yet totally on main stream.
My sincere advice to U.S.A. Citizens to wait,watch,analyse on any important sectors and then, they can decide whether to purchase or sell their hereditary properties and for new purchases.

]]> By: scheng1 http://blogs.reuters.com/talesfromthetrail/2009/12/17/muddy-manse/comment-page-1/#comment-405635 scheng1 Fri, 18 Dec 2009 15:28:32 +0000 http://blogs.reuters.com/frontrow/?p=23325#comment-405635 I wonder why he wants to see at this time. Surely he can wait until economy is better. I wonder why he wants to see at this time. Surely he can wait until economy is better.

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