Comments on: If You Bunched All The Foreclosed Homes Fannie Mae Has Taken Over It Would Be A ‘Top 100′ Municipality Bigger Than Dayton, Ohio And Almost Bigger Than Richmond, Virginia http://www.arizonahousingbubble.com/2008/if-you-bunched-all-the-foreclosed-homes-fannie-mae-has-taken-over-it-would-be-a-top-100-municipality-bigger-than-dayton-ohio-and-almost-bigger-than-richmond-virginia/ The Arizona Housing Bubble And Credit Crisis From A Consumer's Point Of View Thu, 11 Mar 2010 22:38:59 +0000 http://wordpress.org/?v=2.2.2 By: Richard Stabile Bergen County New homes http://www.arizonahousingbubble.com/2008/if-you-bunched-all-the-foreclosed-homes-fannie-mae-has-taken-over-it-would-be-a-top-100-municipality-bigger-than-dayton-ohio-and-almost-bigger-than-richmond-virginia/#comment-736 Richard Stabile Bergen County New homes Thu, 25 Jun 2009 01:07:10 +0000 http://www.arizonahousingbubble.com/2008/if-you-bunched-all-the-foreclosed-homes-fannie-mae-has-taken-over-it-would-be-a-top-100-municipality-bigger-than-dayton-ohio-and-almost-bigger-than-richmond-virginia/#comment-736 To follow up again, they have been selling many foreclosed homes all over the county this spring. I don' t know what the current inventory is but some measures are that the foreclosures are declining somewhat. Many feel it is moving over to commercial property next. To follow up again, they have been selling many foreclosed homes all over the county this spring. I don’ t know what the current inventory is but some measures are that the foreclosures are declining somewhat. Many feel it is moving over to commercial property next.

]]> By: Richard Stabile http://www.arizonahousingbubble.com/2008/if-you-bunched-all-the-foreclosed-homes-fannie-mae-has-taken-over-it-would-be-a-top-100-municipality-bigger-than-dayton-ohio-and-almost-bigger-than-richmond-virginia/#comment-711 Richard Stabile Fri, 23 Jan 2009 00:52:20 +0000 http://www.arizonahousingbubble.com/2008/if-you-bunched-all-the-foreclosed-homes-fannie-mae-has-taken-over-it-would-be-a-top-100-municipality-bigger-than-dayton-ohio-and-almost-bigger-than-richmond-virginia/#comment-711 If the fed keeps putting money into new mortgage paper with Fannies and Freddie, the money will eventually hit the market. So far it is only hitting in the conforming mortgages. I wrote about 10 weeks ago for the fed to borrow on long term treasury’s and put the money directly into new mortgages at low rates to get the market going. I also said they should provide investor financing to get the foreclosed homes bought and rented. Investor will bring a lot of capital to the market. All buyers must qualify under normal standards. My investigation also finds the heavily hit markets are reacting to the lower prices and lower rates and volume is picking up nicely. The banks can not get the money directly, they won’t lend or at least not at the rate and quantity we need. When a purchaser gets a mortgage, buys a property, the old mortgage gets paid off to the bank. The bank receives the money and the mortgage is retired. If the bank’s reserves we short to retire the mortgage that is another issue for their solvency. If the fed keeps putting money into new mortgage paper with Fannies and Freddie, the money will eventually hit the market. So far it is only hitting in the conforming mortgages. I wrote about 10 weeks ago for the fed to borrow on long term treasury’s and put the money directly into new mortgages at low rates to get the market going. I also said they should provide investor financing to get the foreclosed homes bought and rented. Investor will bring a lot of capital to the market. All buyers must qualify under normal standards.
My investigation also finds the heavily hit markets are reacting to the lower prices and lower rates and volume is picking up nicely.

The banks can not get the money directly, they won’t lend or at least not at the rate and quantity we need. When a purchaser gets a mortgage, buys a property, the old mortgage gets paid off to the bank. The bank receives the money and the mortgage is retired. If the bank’s reserves we short to retire the mortgage that is another issue for their solvency.

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