Comments on: 33% of Homeowners w/Mortgages Are Underwater http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 20:46:15 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: 33% of homeowners w/mortgages are underwater | http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-169422 33% of homeowners w/mortgages are underwater | Fri, 08 May 2009 02:33:18 +0000 http://www.ritholtz.com/blog/?p=25727#comment-169422 [...] That’s a lot of pain… [...] [...] That’s a lot of pain… [...]

]]> By: Greg0658 http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168980 Greg0658 Thu, 07 May 2009 13:50:04 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168980 snap and Hof - "we are fast approaching a genuine surveillance society in the United States" imo the 21st and hopefully 22nd century world needs it .. BUT with oversight ... and trusted by the public provided we get to the equilibrium of acceptable behavior of all interests (if ever*) .. this world of people has invented devices that are much to potent queer (around for centuries) is becoming ok / child rape should never be ok / wife hopping should be discouraged loafin' should be frowned upon / stealing should be unneeded / murder for profit should never be ok speech should be free / blackball'g someone because of ___ should be ok .. but the world should have a spot to flock what pinch points .. sex / livelihood / speech .. did I miss? children should be safe on the streets / adults should be safe on the streets ... not these days * religious fundamentalist wish the world to stay true to 1st century values for the salt to hold its flavor .. I respectfully disagree to a point .. and they have forwarned you of these days (ps- totally twilight zoned now .. the internet went down while trying to make this post an hour ago) (pss - Comcast is to big to fail/fight) (pss - anyone know of emergency dialup ala carte ?) snap and Hof – “we are fast approaching a genuine surveillance society in the United States”

imo the 21st and hopefully 22nd century world needs it .. BUT with oversight … and trusted by the public

provided we get to the equilibrium of acceptable behavior of all interests (if ever*) .. this world of people has invented devices that are much to potent

queer (around for centuries) is becoming ok / child rape should never be ok / wife hopping should be discouraged
loafin’ should be frowned upon / stealing should be unneeded / murder for profit should never be ok
speech should be free / blackball’g someone because of ___ should be ok .. but the world should have a spot to flock

what pinch points .. sex / livelihood / speech .. did I miss?

children should be safe on the streets / adults should be safe on the streets … not these days

* religious fundamentalist wish the world to stay true to 1st century values for the salt to hold its flavor .. I respectfully disagree to a point .. and they have forwarned you of these days

(ps- totally twilight zoned now .. the internet went down while trying to make this post an hour ago)
(pss – Comcast is to big to fail/fight) (pss – anyone know of emergency dialup ala carte ?)

]]> By: james hogan http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168886 james hogan Thu, 07 May 2009 02:47:37 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168886 " Of those, 1/3 of them owe more on their homes than they are worth, which figures out to about 10-11% of homeowners." Yikes! A math error. That should read "10-11% " of the public, not homeowners. Apologies. ” Of those, 1/3 of them owe more on their homes than they are worth, which figures out to about 10-11% of homeowners.”

Yikes! A math error. That should read “10-11% ” of the public, not homeowners. Apologies.

]]> By: james hogan http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168883 james hogan Thu, 07 May 2009 02:34:46 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168883 Approximately 36% of the public live in some sort of housing that they do not own. Another 1/3 of the public lives in houses that they own outright. That leaves approximately 31% of the public that have mortgages. Of those, 1/3 of them owe more on their homes than they are worth, which figures out to about 10-11% of homeowners. I have a question: What percentage of those homeowners who either own their houses outright or who have a mortgage also have some sort of second mortgage or HLOC (homeowner line of credit) loan on their house? Does anyone know? Approximately 36% of the public live in some sort of housing that they do not own. Another 1/3 of the public lives in houses that they own outright. That leaves approximately 31% of the public that have mortgages. Of those, 1/3 of them owe more on their homes than they are worth, which figures out to about 10-11% of homeowners.

I have a question: What percentage of those homeowners who either own their houses outright or who have a mortgage also have some sort of second mortgage or HLOC (homeowner line of credit) loan on their house? Does anyone know?

]]> By: 1/3 of US Homeowners have underwater mortgages | Schizo America http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168848 1/3 of US Homeowners have underwater mortgages | Schizo America Thu, 07 May 2009 00:41:20 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168848 [...] Barry Rithholtz notes: The recession cut home values by $2.4 trillion last year. In a separate survey of homeowner sentiment, 31 percent of homeowners said they would be at least “somewhat likely” to put their property up for sale in the next 12 months should they see signs of a recovery. [...] [...] Barry Rithholtz notes: The recession cut home values by $2.4 trillion last year. In a separate survey of homeowner sentiment, 31 percent of homeowners said they would be at least “somewhat likely” to put their property up for sale in the next 12 months should they see signs of a recovery. [...]

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168678 Mark E Hoffer Wed, 06 May 2009 18:47:40 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168678 Foghorn, this: http://www.targetmarketingmag.com/# will give a starting point..note some of players in the game, and: "EPIC Urges Greater Accountability for Network Surveillance Today, EPIC asked Senator Patrick Leahy to investigate the Department of Justice's failure to make public statistics detailing federal use of "pen registers" and "trap and trace" devices, which record "non-content" information about telephone calls, email and web traffic. In a letter to the Chairman of the Senate Judiciary Committee, EPIC observed that the Attorney General is required to provide to Congress detailed statistics concerning the use of these techniques. Yet, "the DOJ does not publicly disclose pen register reports as a matter of course." EPIC also raised questions regarding the agency's compliance with reporting requirements for the period 2004-2008. The lack of public accountability for these network monitoring techniques contrasts with the U.S. Courts' routine public reporting of federal wiretaps, EPIC said. The Courts released the most recent wiretap report on April 27, 2009. For more information, see EPIC's Wiretapping page. (Apr. 29)" http://epic.org/ Data, once gathers, travels..LSS: Americans, in the 21stC, were Stripmined, wholesale, of just about any and all 'personal' info.. Foghorn,

this: http://www.targetmarketingmag.com/# will give a starting point..note some of players in the game, and:
“EPIC Urges Greater Accountability for Network Surveillance
Today, EPIC asked Senator Patrick Leahy to investigate the Department of Justice’s failure to make public statistics detailing federal use of “pen registers” and “trap and trace” devices, which record “non-content” information about telephone calls, email and web traffic. In a letter to the Chairman of the Senate Judiciary Committee, EPIC observed that the Attorney General is required to provide to Congress detailed statistics concerning the use of these techniques. Yet, “the DOJ does not publicly disclose pen register reports as a matter of course.” EPIC also raised questions regarding the agency’s compliance with reporting requirements for the period 2004-2008. The lack of public accountability for these network monitoring techniques contrasts with the U.S. Courts’ routine public reporting of federal wiretaps, EPIC said. The Courts released the most recent wiretap report on April 27, 2009. For more information, see EPIC’s Wiretapping page. (Apr. 29)”
http://epic.org/

Data, once gathers, travels..LSS: Americans, in the 21stC, were Stripmined, wholesale, of just about any and all ‘personal’ info..

]]> By: John Lorson http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168674 John Lorson Wed, 06 May 2009 18:42:53 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168674 Millions of homeowners and investors who can make their payments owe more than their properties are worth. The rebound of the economy is contingent on the recovery of the housing market. Combining the reducing wage structure with the strictest underwriting standards ever placed on potential borrowers, the price of real estate will not be able to increase to the amount owed by homeowners who purchased or refinanced their homes from 2003 through 2008 for 18 or more years. Home values inflated by 100% over a 3 year period in many markets. Under normal conditions, home price would have increased around 6%. The created home values (100% vs. 6%) will have to be removed from current home values. Government Agencies, Wall Street firms and Lenders defrauded homeowners and investors for short term profit. Every FNMA/FHLMC appraisal defines market value as the price not affected by undue stimulus and the price represents the normal consideration for the property sold unaffected by special or creative financing. Special or creative financing was provided by these entities and placed an undue stimulus on real estate sales. These entities knew the consequences of their loan products, had build in controls to protect their companies and the consumer, and yet ignored the consequences of their own policies for short term profit and excessive bonuses. We have experienced the equivalent of financial terrorism on Mom and Dad America and nothing is being done to protect and correct for the situation. An answer to correct for this fraud would be an interest free period until such time as the excess inflated value is removed from the loan balance. The People’s Fix. Millions of homeowners and investors who can make their payments owe more than their properties are worth. The rebound of the economy is contingent on the recovery of the housing market. Combining the reducing wage structure with the strictest underwriting standards ever placed on potential borrowers, the price of real estate will not be able to increase to the amount owed by homeowners who purchased or refinanced their homes from 2003 through 2008 for 18 or more years. Home values inflated by 100% over a 3 year period in many markets. Under normal conditions, home price would have increased around 6%. The created home values (100% vs. 6%) will have to be removed from current home values. Government Agencies, Wall Street firms and Lenders defrauded homeowners and investors for short term profit. Every FNMA/FHLMC appraisal defines market value as the price not affected by undue stimulus and the price represents the normal consideration for the property sold unaffected by special or creative financing. Special or creative financing was provided by these entities and placed an undue stimulus on real estate sales. These entities knew the consequences of their loan products, had build in controls to protect their companies and the consumer, and yet ignored the consequences of their own policies for short term profit and excessive bonuses. We have experienced the equivalent of financial terrorism on Mom and Dad America and nothing is being done to protect and correct for the situation. An answer to correct for this fraud would be an interest free period until such time as the excess inflated value is removed from the loan balance. The People’s Fix.

]]> By: Foghorn Longhorn http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168659 Foghorn Longhorn Wed, 06 May 2009 18:16:56 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168659 Thanks Mark E Am just very surprised this technology is in the hands of a private business like this. One of LLL's friends got a telemarketing call for magazines on her cell phone, the salesman? then asked her if she was at DFW airport, which she was. So now telemarketers can pinpoint your location when they call you. So very odd. Thanks Mark E
Am just very surprised this technology is in the hands of a private business like this.
One of LLL’s friends got a telemarketing call for magazines on her cell phone,
the salesman? then asked her if she was at DFW airport, which she was.
So now telemarketers can pinpoint your location when they call you.
So very odd.

]]> By: Mark E Hoffer http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168625 Mark E Hoffer Wed, 06 May 2009 17:33:38 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168625 Foghorn, this: http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=cell+phone+GPS+triangulation+911 should begin to answer a few Q's.. Foghorn,

this: http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=cell+phone+GPS+triangulation+911

should begin to answer a few Q’s..

]]> By: Foghorn Longhorn http://www.ritholtz.com/blog/2009/05/22-of-homeowners-underwater/comment-page-1/#comment-168615 Foghorn Longhorn Wed, 06 May 2009 17:20:10 +0000 http://www.ritholtz.com/blog/?p=25727#comment-168615 Hoffer Here is an interesting anecdotal My wife, Luscious Louella Longhorn, had to call the local Fed-Ex office to return a package. Using her cell phone, at her place of employment she place the call, the other end asked her if she was at address X, which she was. Address X is in no way associated with her cell phone. Kinda weird. And this is a public company no less. (Fed-Ex) Hoffer
Here is an interesting anecdotal
My wife, Luscious Louella Longhorn, had to call the local Fed-Ex office to return a package. Using her cell phone, at her place of employment she place the call, the other end asked her if she was at address X, which she was.
Address X is in no way associated with her cell phone.
Kinda weird.
And this is a public company no less. (Fed-Ex)

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