Comments on: Mortgage Modifications DECLINED In May http://realestate.bryanellis.com/130/mortgage-modifications-decline-may/ Unbiased Real Estate Intelligence For Affluent Investors Wed, 18 Jan 2012 15:39:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bev http://realestate.bryanellis.com/130/mortgage-modifications-decline-may/#comment-857 Bev Thu, 10 Jul 2008 14:49:17 +0000 http://www.freerealestatetraining.com/?p=130#comment-857 It could be that their is a decrease in modifications because the (1) banks are discouraging the mortgagor to take a modification because they are only offering plans that don't work for the mortgagor - i.e. they offer higher payments instead of short-term lower ones, or no delayed promissory notes for the past due balances, etc. or (2) a greater percentage of mortgagors are in a long-term sitatuion such as job loss with unemployment expiring, layoffs, decrease in income for any number of reasons, higher expenses due to the increased costs overall so their essentials / budget is higher, or similar. It could be that their is a decrease in modifications because the (1) banks are discouraging the mortgagor to take a modification because they are only offering plans that don’t work for the mortgagor – i.e. they offer higher payments instead of short-term lower ones, or no delayed promissory notes for the past due balances, etc. or (2) a greater percentage of mortgagors are in a long-term sitatuion such as job loss with unemployment expiring, layoffs, decrease in income for any number of reasons, higher expenses due to the increased costs overall so their essentials / budget is higher, or similar.

]]> By: Jeffrey Smith http://realestate.bryanellis.com/130/mortgage-modifications-decline-may/#comment-826 Jeffrey Smith Wed, 09 Jul 2008 15:19:55 +0000 http://www.freerealestatetraining.com/?p=130#comment-826 It may also mean that the lenders simply cannot afford to keep the loans on their books, and they must get cashed out (short sale). If a lender is a target for a take-over, the buyer will want that lender to get rid of their "questionable" loans (even at a discount) before taking-over that lender. Lenders are not yet required by law to always accept a loan modification request, even when that request is strongly encouraged by HUD. <strong>Even that is, I believe, a good sign. The more that the free market fleshes out these issues, the stronger the market will be long term. All good. -- <a href="http://www.BryanEllis.com" target="_blank" rel="nofollow">Bryan Ellis</a></strong> It may also mean that the lenders simply cannot afford to keep the loans on their books, and they must get cashed out (short sale). If a lender is a target for a take-over, the buyer will want that lender to get rid of their “questionable” loans (even at a discount) before taking-over that lender. Lenders are not yet required by law to always accept a loan modification request, even when that request is strongly encouraged by HUD.

Even that is, I believe, a good sign. The more that the free market fleshes out these issues, the stronger the market will be long term. All good. — Bryan Ellis

]]> By: lincoln ong http://realestate.bryanellis.com/130/mortgage-modifications-decline-may/#comment-821 lincoln ong Wed, 09 Jul 2008 12:25:30 +0000 http://www.freerealestatetraining.com/?p=130#comment-821 could this be a "dead cat bounce" in the market? <strong>Of course that's possible, but I don't think so. There's no historical evidence that developed real estate markets like the United States just "die". What I believe we're seeing is the "bottoming" of the market as new "support" levels are being found in the various markets across this great country of ours. -- <a href="http://www.BryanEllis.com" target="_blank" rel="nofollow">Bryan Ellis</a></strong> could this be a “dead cat bounce” in the market?

Of course that’s possible, but I don’t think so. There’s no historical evidence that developed real estate markets like the United States just “die”. What I believe we’re seeing is the “bottoming” of the market as new “support” levels are being found in the various markets across this great country of ours. — Bryan Ellis

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