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Rocktex
70 Comments
November Survey of Downey Financial Defaults and Trustee's Sales
Do you have any data to give us more details such as how DSL is going to deal with the problem. Say, how much is the discount DSL is willing to give out now?
Paulson's Plan is Nothing but Lip Service
Here is an article of mine for your reference:
A Funny World (5): Your Meat is Their Poison (edit/delete)
Why have Banks decided to stop responding to offers in regards to a "Short Sale" ?! activerain.com/blogsvi...
It is a jungle out there. Good luck to you and those families you are trying to help.
Hank Paulson’s ARM Bailout: Swing and a Miss
Zero Brian, Zero Solution activerain.com/blogsvi...
Hank Paulson’s ARM Bailout: Swing and a Miss
Cheer up! At least buy something at your will to reward yourself. Who cares the rest?
Paulson's Plan is Nothing but Lip Service
Who needs a great result? Politicians believe that all we need is "Read my lips," right?
Treasury's Subprime Rate Plan is a Great Big Zero
30 years ago, California is the #1 golden state in USA. And now, people move out. As I know, 20 years ago, we attracted a lot of new immigrants from some developed and affluent countries. Now, still a lot of people want to come to USA. But from where they come? Do they have that kind of CASH to buy our citizenship? Can you not just assume it and give us more data to support the solution?
I am used to not too concern about our trade deficit as well as other countries' claim of the number 1 foreign reserve. Because I firmly believe the concept of "Balance of Payment" is a better one to explain the reality of international trade. Trade deficit is broadly misused and set into the minds of our general publics.
But as you know, the figures of trade deficit are based on "merchandized&quo... goods. Where are those income for our intangible goods, service and military sales from the rest of the world go? Do we factor them into the trade deficit?
Such income as royalty divided, license fee or intellectual property right. They went into some big guys pockets, right? Here somehow some people are trying to hide a real problem we have: social equality, unfair wealth distribution or fair taxing that are taking place in our systems.
Your argument is simple-minded. To me, the value of our dollar goes down is not a rational or necessary approach to benefit our economy or the wellfare of the publics. It does no good to us, period.
Hank Paulson’s ARM Bailout: Swing and a Miss
But why those politicians avoid the real core issue: ABS those banks created are over-priced.
As a businessman, I will stay away from over-priced merchandize. As a stock investor, I will sell those over-priced stock. It is very obvious that nobody will put money into an inflated asset or security.
How come those politicians who are so seasoned, even not smart, talk dumb chat or dumb plans? There must be some reasons? Can you tell us what you think if you were them.
Hank Paulson’s ARM Bailout: Swing and a Miss
But why those politicians avoid the real core issue: ABS those banks created are over-priced.
As a businessman, I will stay away from over-priced merchandize. As a stock investor, I will sell those over-priced stock. It is very obvious that nobody will put money into an inflated asset or security.
How come those politicians who are so seasoned, even not smart, talk dumb chat or dumb plans? There must be some reasons? Can you tell us what you think if you were them.
Bank Coalition Near Accord to Freeze ARMs - WSJ
ET - Nov 19, 2007
Hi, K!In the movie "Splash", the actor found out his lover is a mermaid. He is so upset. His brother came to comfort him: "No body says love is perfect." The response is "I didn't expect it perfect, but at least not a fish."
Now I would like to comfort you; "Nobody says life is fair." I know you are going to reply: "I didn't expect...." I understand.
Let me propose this: how about everyone can make a choice to stick to the origional loan terms or switch to the current relief term of freezing plan?
Hmmmm.... you have to make more louder or politicians will ignore you, right?
Bank Coalition Near Accord to Freeze ARMs - WSJ
It sounds like there are not so much experience your peers have. I went through pre-foreclosure when I was trying to obtain my Cali RE licence in 1989-90.
At that time period, nobody including my broker could give me any help. Because they don't have a practical personal experience. All they know is from books. Don't blame them since they really don't know nothing about REO practice even they can show the words "REO specialist" on their business cards.
Now, I have been watching and working on so many foreclosure. I have my keen eyes to see those relief plans consumer organizations have established. They are trying to artificially change the cause of market forces by political powers. Sorry, I have to say: all they know is from books, too. Don't blame them since Cali Governor and Treasury Secretary are so funny to present such a "freeze" loan program.
All of programs are focusing on one side of a coin. Passively asking a help or cooperation from the lenders. Gee! how about the other side?
For an example, one of my neighbors has his home foreclosed on Nov. 6, 2007. It is too late for me to work on when I knew it. There is only 3 days left for me actively and positively "attack" the other side. [in fact, there is only one day since it is a weekend] They owe a bank $82K that is the minimun amount on auction block. The real market value is lower than $ 60K.
If they let me know earlier and give me at least 2 weeks to work on. It is very possible for them to stay at their home now. They may be able to owe a new loan of less than $40k and pay 50% less of monthly payments. I believe it is a practical goal for me.
How can I do it? That' what I mean the other side of a coin: know the "sofeware" real estate well enough to set your own rule to play with a lender, not to follow theirs.
If I go out to help the general public with less funds they have, believe me, I won't talk about those public or private useless plans that are at the mercy of those greedy lenders. I won't do lip service to give advice only.
Trust me I will use my expertise and the rational market forces to only give real good, solid and practical stuff to the weak publics.
p. s. Sorry, I made a brief coment above. I owe you guys a better one.
Bank Coalition Near Accord to Freeze ARMs - WSJ
Case-Shiller Index Falls By Record 4.5%
What is the cause and what is the conseqence? How does Dr. Shiller concludes that housing distress cause a recession? Or what is the base for him to say such a cause/ recession relationship? I have no idea.
However, It is not true in history. Usually, it should be a recession cause a depressed housing market.
Do we have a reverse situation here today? Even I believe that a recession is possible long time ago. But it is just a cyclical economy. Hardly to have a sufficient evidence to say a housing situation is the cause, not the consequence.
Basically we agreed that an irrational exuberance of dot.com leads us to have a housing downturn in SF area in early 2002. That means we agreed that dot.com bubble is the cause. How can we now change the tune to say it in a totally reverse way if the epicenter is at the reckless credit bubble created by the Wall Street? Is there any reasonable logics or a cover-up behind the scene to excuse the irresponsibility of those financial speculators?
To me, a speculator in stock is a gambler in Vegas. They have to take the consequence (loss) and blame themselves. When a bunch of gamblers lost their shirtsand drop shoes in Vegas, is it going to create big chaos to the general publics? Why those Wall street speculators cry loudly all the way to ask a bail out plan or a "forced" inflation to ease their paper loss at the expense of all the tax payers?
In short, I don't think it is going to have serious effects on the life of majority of us, if FED can resist their massive propaganda, stay firm on evaluating a more broad picture and take right moves.
Case-Shiller Index Falls By Record 4.5%
Hardly for me to accept that Shiller Index is the most reliable vehicle to judge the trend of our housing market as CNN claimed. I wrote some articles using real cases to express viewpoints on the discreditibility of median or average housing price.
I believe Dr. Shiller invented his Index based on median prices. It is out of touch of the reality. Simply put, it is a phantom concept created in the Ivory Academic Tower.
After my discussion with my appraiser/ partner two days ago, I have re-enforced my belief that there is a better way to realistcally do a "real time" quote to reflect the current housing price or market trend as we have done it in the stock market.
Sure there is more time lag needed compared to the real time quote we have in stock market. It might be done in 1-2 days in some metropolitan areas, not like a month delay needed for the Case/Shiller's Index.
It is absurd to have Case/ Shiller' Index as a DJ or SP Index and see people accept it as those dot.com.
Hedge Fund Makes 1000% in a Year, Shorting Subprime
I am truly appreciate what Mr. Lahde said, "Our entire banking system is a complete disaster. In my opinion, nearly every major bank would be insolvent if they marked their assets to market.” What a brilliant brain he has!
But wait! What he is plannig to do next? He has now begun to return money to investors, telling them in a letter: “The risk/return characteristics are far less attractive than in the past.”
I try to understand the logics he has. Tell you the truth, I have difficulty to figure it out. The best part of subprime rib is just abou to come up. Ane he said, "quite and switch to gold"? Hummmm! there are two sides of a coin. Did you check the other side? Wake up! Mr. Lahde!
Where Was The Bubble: Houses, Rates or Credit?
However, we are a democratic society which has a tendency in pleasing everybody to get a vote.
Why politicians have to look after a general "white crime" situation and go thru long legal battles with so many crooks when we have so limited source for DA (human power or budget) if they can just "indirectly" ask taxpayers pick up the toll without too much trouble or publicity?