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Has the housing market started to recover?

4 Comments

  • Christine Walker - 14 years ago

    We haven't seen the peak of foreclosures yet. Mortgage modifications that was suppose to help keep people in their homes is another way for banks to pad their bottom lines. The banks put you in to a mortgage modification program, set up trial payments, string you along for over a year (21 months in my case), then even when you've made every payment on time, decide that you don't make enough to make those payments. Did for 21 months! Then they politely demand thousands of dollars immediately (difference between trial payments and original payment). They refuse to accept your mortgage payments so they can add penalties and interest. Anyone with common sense would figure out if you had thousands of dollars sitting around you wouldn't be needing a modification. Of course if you don't come up with thousands of dollars plus penalties and late fees and anything else they can dream up, they foreclose. There are thousands of modifications being denied, and these homes are on the way to foreclosure.
    Is it any wonder the bank CEO's do not want transparency.

  • BB - 15 years ago

    TAHJ & CADILLAC, You are so "right on" but the real joke is that PBC is so not on the ball for NOT stopping the White Collar Crime that plagues PBC and all of S.Fl. while after they broke the banks and loan co.'s by refinancing at the height of the boom, they collected high rentals and operated for a while. Then not paying the mortgage and going into foreclosure keeping IT ALL.(rents,deposits, 100% capital gains) Leaving their fronts known as hired buyers with the bad credit. Great Scam and now they JUMP on the great deals in foreclosure using the millions from the bank sting. Is this a form of money laundering? Now using their own name and building The Real empire with the aid of backers, lawyers, title co's, appraisers who are all compensated!! Lots of little "Madoffs' around with insatiable greed. They all truly believe that the banks need to be stung since they make all the profits but it sure helped to BRING THEM DOWN!!! Totally Amazing and going on back when Banks were deregulated some 8-9 years ago with NO Guidelines. Pillage continues in FL., AZ., L.V., CA., GA., and many major cities.

  • Tahj - 15 years ago

    Prices going up? This must be a joke? I check Realtor listings almost weekly, and this month has seen Record Low prices for homes in PBC. There are nice listings for under 100k. This was unheard about a year ago. Prices will continue to tumble because nobody is investing into real estate anymore. Renting is cheaper, and even safer.

  • Cadillac Joe - 15 years ago

    You say home prices are going up in PBC I don't see anyone buying anything. You also left out the fact that property taxes are going to be increased by 15 % in PBC and 26% in PSL. It seems most of the buyers for these homes pay cash and they are either short sales or foreclosures, a lot of them are trashed and need thousands to fix them. Not to mention the Chinese drywall problem in PSL. Homes that are for sale by owners are not selling at all, so if your thinkng of selling your home forget it! I don't see the housing market getting better. It has to get worse just look around at all the list pendings....thousands. If you did have a few bucks, you'd have to be an idiot to invest in realestate especally with the high taxes and insurance premiums. PBC is done....

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