Despite the political pressure, Wells Fargo is pressing ahead with its planned foreclosures.
Irvine Home Address ... 14492 GUAMA Ave Irvine, CA 92606
Resale Home Price ...... $499,000
The announcement by BofA -- who was blackmailed by numerous government officials -- to suspend all foreclosures strongly encourages strategic default. Why would anyone pay their mortgage when they know they can stop paying and keep their house?
Irvine Home Address ... 13 GREENWOOD Irvine, CA 92604
Resale Home Price ...... $415,000
A series of new studies on borrower behavior shed some light on the motivations behind those who quit paying their mortgages.
Irvine Home Address ... 23 FOXHOLLOW Irvine, CA 92614
Resale Home Price ...... $319,900
Hope springs eternal, and denial rules downtrodden financial markets. However, locally it appears that housing market watchers are beginning to accept that house prices will not be going up soon.
Irvine Home Address ... 22 BUTTERFLY Irvine, CA 92604
Resale Home Price ...... $460,000
A new bill circulating in Congress would encourage accelerated default on a grand scale and crush California's housing market.
Irvine Home Address ... 247 ORANGE BLOSSOM Irvine, CA 92618
Resale Home Price ...... $217,900
The dramatic increase in the home ownership rate began when welfare reform was passed in 1996. Was that really the cause?
Irvine Home Address ... 65 OLIVEHURST Irvine, CA 92602
Resale Home Price ...... $447,900
Land barons acquire multiple negative-cashflow properties with hope of profiting from appreciation. It is a foolish investment strategy guaranteed to fail when the Ponzi Scheme implodes. Today we see the self-inflicted suffering of one failed land baron.
Today's featured property belongs to a knife catching squatter who managed to close on the day that marks the beginning of the credit crunch.
Irvine Home Address ... 10 BLUEJAY Irvine, CA 92604
Resale Home Price ...... $720,000
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