Wednesday, February 3, 2010

More walking away

Miami condo owner;click

We are going to watch the online auction at click the post reported 700 people signed up as far away as italy. I have two questions, how do you know that you are not buying an empty shell that has been vandalized. appears that auction price is what is owed and instances we have looked at is way more than what the property is worth. I will have a look and report back.

we read today:
"About 5.1 million mortgage holders (or roughly 10% of Americans with mortgages) will own homes that are worth 75% or less than what they owe on their mortgages by mid-June. This is the conclusion of a new study by First American CoreLogic"

forclosure folly:

bad sign for foreclosures, credit cards first.

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