We Haven’t Learned the Lessons of the Great Housing Bubble

Apr 13th, 2010 by IrvineRenter 

People learned lifelong lessons about financial management from the Great Housing Bubble. Did they learn the right ones?

The owners of today's featured property learned how to squeeze every last penny from the walls, then they resorted to squatting for the last year and a half. 

 

Irvine Home Address ... 14952 GAINFORD Cir Irvine, CA 92604
Resale Home Price ...... $460,000

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Posted in HELOC Abuse Library

Failed Bailouts and the Neverending Mortgage Crisis

Apr 12th, 2010 by IrvineRenter 

The bailouts never seem to end, and neither does the flow of irresponsible debtors in need of a bailout. 

   

Irvine Home Address ... 10 MOZZONI AISLE Irvine, CA 92606
Resale Home Price ...... $294,000

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Housing Bubble as Political Rugby

Apr 8th, 2010 by IrvineRenter 

Keeping the truth straight is difficult with good information, but once policitians and political operatives get involved with the flow of data, truth can be obscured and elusive.

Today's featured property belongs to a family that skimmed the appreciation and sold just in time to avoid a short sale.

 

Irvine Home Address ... 34 CAPOBELLA Irvine, CA 92614
Resale Home Price ...... $745,000

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Posted in HELOC Abuse Library

Foreclosures Will Drive the National Economic Recovery

Apr 6th, 2010 by IrvineRenter 

Barry Ritholtz is leading the chorus demanding that lenders get on with the foreclosure process and get the economy moving again.

Today's featured property may have the Irvine record for HELOC abuse. We are up over $1,000,000!!! 

 

Irvine Home Address ... 58 CEZANNE Irvine, CA 92603
Resale Home Price ...... $1,600,000

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Posted in HELOC Abuse Library

Squatting Laguna Beach Style

Apr 2nd, 2010 by IrvineRenter 

Squatting is usually a problem we associate with the indigent; however, many pretenders are hold up in opulent properties. Today we look at one such property in Laguna Beach, California.

 

Irvine Home Address ... 150 Cress St Laguna Beach, CA 92651
Resale Home Price ...... $5,990,000

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Posted in HELOC Abuse Library WTF

Lenders Start More Foreclosures to Catch Up with Delinquencies

Mar 25th, 2010 by IrvineRenter 

What are we going to do with all the delinquent borrowers? Should we forgive their debts? Should we forgive $476,500 in HELOC abuse?

Irvine Home Address ... 14 Foxglove, Irvine, CA 92612
Resale Home Price ...... $586,550

  

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One Defaulting Owner’s Free Ride: Three Years and Counting

Mar 16th, 2010 by IrvineRenter 

Freeloaders enjoying the entitled life are not confined to subprime areas. Today's featured property may be the worst case of housing entitlement in the country, and it is right here in Irvine. 

 

Irvine Home Address ... 14 BLUEBELL Irvine, CA 92618
Resale Home Price ...... $469,900

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