SCARY NUMBERS THESE ARE! This housing bust is even worse than I thought! Holy smokes! Thanks for making people aware of these statistics! At least someone is cutting through all the garbage on TV!

March 11th, 2010 at 10:28 pm

problem with falling values and a pick up in sales with the vast amount of inventory the banks have and the massive discounts they are giveng, is you take wealth away from everyone. The entire nations real estate stocks is about to take a massive hit…much greater than it has already taken. That means the net worth of every home owner crashes. Not just the ones in crappy loans.

nvrgvup69

March 11th, 2010 at 11:24 pm

Mr. Mortgage
Enjoy your videos! I used to work for one of the banks that you have mentioned. I did not deal with SP. As an LO I did not take for granted the business of my clients and hence, I never took advantage of my clients. I was raised right. I do know what you are talking about in re to SP. . The foreclosure problem is sure to come to an end as I am optimistic and STILL in the banking business. The prices of these properties ARE dropping, business will pick up. Keep it up Mr. M!
Thx!

brokertfs

March 12th, 2010 at 12:22 am

Thanks for your illuminating efforts. It’s great to see an American who has the guts to throw the BS flag at the corporate media shills. Isn’t this new media great!?! I appreciate your data mining and perspective. You are an asset to those of us trying to keep out eyes open and our heads above the sand!!

pamela446

March 12th, 2010 at 12:26 am

First of all thanks for all of your work…awesome stuff. What I want to know is WHY in the HELL is nobody talking about this? Its like none of my friends or anyone is clued into this stuff… why is that? Why isnt this the main topic of conversation????

March 12th, 2010 at 12:36 am

thanks for your comments. This is trouble. If not, why all the fuss by the solons to first deny it all then throw hundreds of billions at it…and ‘election year’ doesn’t cut it. If they were just honest from the beginning they could have mitigated much of the credit market freeze up. Now, my 6 month old kid is likely screwed and maybe his kids.

VKDM8687

March 12th, 2010 at 1:00 am

Mark–I am a complete and utter financial noob, so your down to earth method of explaining things is all at once enlightening, easy to follow, and terrifying. I can’t help but think this country is in for a major major reset in how life is “supposed” to be. Your video has been linked up at TimeBomb2000, an emergency preparedness website. I am doing my best to get our readership to watch your stuff. GREAT JOB!!!!

March 12th, 2010 at 1:56 am

only do a Jerry Springer format if Dennis kneale, Kudlow and Cramer were on with some pissed off 400 pound gay dude who was shorting the financials in the past three weeks.

rcmtgs

March 12th, 2010 at 2:22 am

maybe you should start a mortgage soap opera, what else are we going to watch on those just bought tv’s with the stimulus ck….or maybe a jerry springer format, but i would think bankers would use gloves….wouldn’t they?

March 12th, 2010 at 3:21 am

so if they are letting their ‘tenants’ stay in the property, will the 720’s qual for a very low forclosure somewhere else in america & the bor/sel…’throws a lease’ on the deflated ‘for sale’ soon to be foreclosed property…and just move after they close on their deal of the century??? where does the creative financing end, and do they still give the bor rent sch credit? the wheel just keeps turning

March 12th, 2010 at 3:54 am

please go to my blog and post this…its good.

March 12th, 2010 at 4:40 am

great point…I will make sure I address it.

jcwaliski

March 12th, 2010 at 4:59 am

As always, excellent analysis Mr. Mortgage. One point I would like to bring up about foreclosures is that the foreclosure numbers are even more skewed than one might think because the banks are letting their “tenants” live in these homes rent-free, especially in lower income areas, to curb theft of copper and other items inside the home. People just don’t understand this at all. Also, if you make it on CNBC, kick Dennis Kneale in the jacobs for me. He is worthless and wrong most of the time.

makoshark123456

March 12th, 2010 at 5:51 am

Psych! Great video. This is so messed up. How long can people ignore reality? Thanks for the facts/data!

RustyGatesJr

March 12th, 2010 at 6:30 am

Great Stuff !

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