Posts tagged ‘United States’

June 27, 2011

This is the year!

 

Money bags

This year, July has 5 Fridays, 5 Saturdays and 5 Sundays. This happens
once every 823 years. This is called money bags. So, forward this to
your friends and money will arrive within 4 days. Based on Chinese
Feng Shui. The one who does not forward…..will be without money.

Kinda interesting – read on!!!

This year we’re going to experience four unusual dates.

1/1/11, 1/11/11, 11/1/11, 11/11/11 and that’s not all…

Take the last two digits of the year in which you were born – now add
the age you will be this year,

The results will be 111 for everyone in whole world. This is the year of
the Money!!!

The proverb goes that if you send this to eight good friends money will
appear in next four days as it is explained in Chinese FENGSHUI.

Those who don’t continue the chain won’t receive…….

June 25, 2011

Fewer Borrowers Strategically Defaulting

Daily Real Estate News | June 24, 2011 | Share 

Fewer Borrowers Strategically Defaulting
The percentage of borrowers who walk away from their mortgage despite still being able to pay is shrinking. Yet strategic defaults still account for nearly one-fifth of serious mortgage delinquencies, HousingWire reports. 

About 17 percent of all mortgage defaults that are 60 days or more past due in the second quarter of 2010 were strategic defaults. In the second quarter of 2008, that percentage peaked at 20 percent — which is more than double the number of strategic defaults in 2006, according to a study from Experian, a credit reporting agency, and Oliver Wyman, a consulting firm. 

Strategic defaults tend to be more common with borrowers who have jumbo mortgages and have higher annual incomes, according to Experian. 

In the second quarter of 2010, 30 percent of strategic defaulters earned more than $150,000 a year, and only 9 percent earned less than $40,000, Experian reports. Furthermore, 33 percent of delinquent mortgages were on homes more than $1 million. For comparison, only 6 percent of homes priced at $50,000 were attributed to strategic defaults, Experian notes. 

Experian notes borrowers with more expensive homes and higher incomes may be more financially savvy and be able to take the impact to their credit score more so than other types of borrowers. 

As home values began to dip in 2007, more borrowers became underwater on their homes, causing some to stop paying their mortgage and walk away from their home. 

Strategic defaults in general “aren’t likely to decline much unless residential housing prices increase and remain at higher levels,” according to the report. “Home owners have to see for themselves that their neighbors’ houses are selling for higher prices.” 

Source: “Overall Strategic Default on the Decline,” HousingWire (June 23, 2011)