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Reply #9: And how many do you think are behind ("bleeding")? [View All]

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dmallind Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 02:50 PM
Response to Reply #6
9. And how many do you think are behind ("bleeding")?
As the link states - the vast majority of mortgages are current, and always have been. Delinquencies IIRC never got above 10% and foreclosures even lower. The much "doom-sexier" "underwater" rate is at less than 22%, and of course that only matters if you need to sell.

The mortgage crapola is indeed a deep hole, and is miserable for those unfortunates caught in it, but it's important to remember that the vast majority of mortgage borrowers are paying on time, and have substantial equity in their homes. The idea that any decrease in delinquencies is only because everybody is already delinquent is both utterly wrong and insulting to the huge majority of us who are up to date and solvent.
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  -2012 Mortgage Delinquencies Seen Dropping Sharply Purveyor  Dec-07-11 11:02 AM   #0 
  - old old chart I post periodically  Mojorabbit   Dec-07-11 11:08 AM   #1 
  - According to that chart, we're through the worst of the Option ARM storm. nt.  Hosnon   Dec-07-11 11:45 AM   #2 
  - And as I mentioned when I first saw it  dmallind   Dec-07-11 12:25 PM   #5 
     - Unless most are underwater and the banks  Mojorabbit   Dec-07-11 02:13 PM   #7 
        - ARM or refi? Two different things  dmallind   Dec-07-11 02:36 PM   #8 
           - I was under the impression that when time came to reset  Mojorabbit   Dec-07-11 04:39 PM   #10 
  - Logical considering pretty much the only people still in houses are  Myrina   Dec-07-11 12:08 PM   #3 
  - PEAK of less than 7% fell behind nt.  dmallind   Dec-07-11 12:23 PM   #4 
  - *1  Zorra   Dec-07-11 05:04 PM   #12 
  - That's like telling someone who is bleeding that it will stop soon,  jtuck004   Dec-07-11 01:50 PM   #6 
  - And how many do you think are behind ("bleeding")?  dmallind   Dec-07-11 02:50 PM   #9 
     - I was referring to the 2.9 million of our neighbors who got a foreclosure notice in 2010,  jtuck004   Dec-08-11 04:12 PM   #15 
  - IF...IF...IF...IF...IF!!!!!  SoCalMusicLover   Dec-07-11 04:51 PM   #11 
  - Transunion's predictions are based on several highly shaky  coalition_unwilling   Dec-07-11 05:13 PM   #13 
  - Or, you know, it could increase. Or remain the same.  Fool Count   Dec-07-11 05:53 PM   #14 

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