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Thread: Serious Mortgage Delinquencies Fall to Lowest Since 2008

  1. #11
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    Re: Serious Mortgage Delinquencies Fall to Lowest Since 2008

    The market has absorbed enough of these things that it is getting harder to get a short sell of a foreclosed property from big lenders; some companies never foreclosed--they paid the people to deed the property over to them. BOA was giving $1K if you were out of the house and $2.5K if you were in the house I think. Credit cards are harder to get as well and at a higher interest. In short, credit is dried up and QE3 won't change that because of the regulations underlying the lending markets are so dynamic in a bad way for lenders.

  2. #12
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    Re: Serious Mortgage Delinquencies Fall to Lowest Since 2008

    Quote Originally Posted by AdamT View Post
    The main thing still holding the US economy back, other than the recession in Europe and slowdown in Asia, is weakness in the housing and construction sectors. Fortunately for us these areas are beginning to rebound, which will hopefully more than make up for manufacturing losses due to weakness elsewhere.



    Economy Has Green Shoots From China to U.S. as Data Surprise - Bloomberg
    I love the language "serious home delinquencies fall."

    What exactly is a "serious home delinquency?"

    "I haven't paid my mortgage in 6 months?"

    Illinois mortgage delinquency rate at 8% in Sept. - Chicago Tribune

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