4358 Malana Way Rancho Cordova, CA 95742 |
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10240 Sheldon Rd Elk Grove, CA 95624 |
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9821 Trailhead Ct Wilton, CA 95693 |
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5749 Pomegranate Ave Sacramento, CA 95823 |
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130 Aviator Cir Sacramento, CA 95835 |
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7018 NEW SACTO WAY Sacramento, CA 95824 |
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7016 Santa Juanita Ave Orangevale, CA 95662 |
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6325 Castro Verde Way Elk Grove, CA 95757 |
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9582 Nordman Way Elk Grove, CA 95624 |
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10370 Frank Greg Way Elk Grove, CA 95757 |
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15068 Lago Dr Rancho Murieta, CA 95683 |
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9682 Alta Mesa Rd Wilton, CA 95693 |
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7079 NEW SACTO WAY Sacramento, CA 95824 |
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4437 Anatolia Dr Rancho Cordova, CA 95742 |
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10189 Blossom Ridge Dr Elk Grove, CA 95757 |
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9465 White Horse Way Elk Grove, CA 95624 |
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4804 Yosemite Ave Sacramento, CA 95820 |
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7669 Sunset Ave Fair Oaks, CA 95628 |
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7966 Shrewsbury Ave Fair Oaks, CA 95628 |
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15007 Guadalupe Dr Rancho Murieta, CA 95683 |
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6521 Oscar Cir Elk Grove, CA 95757 |
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521 Alcantar Cir Sacramento, CA 95834 |
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1933 Bastona Dr Elk Grove, CA 95758 |
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7489 24th St Sacramento, CA 95822 |
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7824 Jacinto Rd Elk Grove, CA 95758 |
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5568 Honor Pkwy Sacramento, CA 95835 |
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5111 Fredericksburg Way Sacramento, CA 95835 |
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7219 Ovar Ct Elk Grove, CA 95757 |
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10213 Lofton Ct Elk Grove, CA 95757 |
|
1770 Iverson Way Sacramento, CA 95835 |
|
10049 Prairie Dunes Way Sacramento, CA 95829 |
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9809 Summer Glen Way Elk Grove, CA 95757 |
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9 Glenda Ct Sacramento, CA 95833 |
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7818 Manorside Dr Sacramento, CA 95832 |
|
4495 San Sebastian Way Sacramento, CA 95823 |
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9226 Bearint Way Elk Grove, CA 95758 |
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9280 Fife Ranch Way Elk Grove, CA 95624 |
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9976 Pinot Gold Pl Elk Grove, CA 95624 |
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24 Indigo Oaks Ct Sacramento, CA 95834 |
|
5140 LOCUST Ave Carmichael, CA 95608 |
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6506 Fuego Way Elk Grove, CA 95758 |
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5311 Jilson Way Elk Grove, CA 95757 |
|
8873 Boreal Way Elk Grove, CA 95758 |
|
808 Natoma St Folsom, CA 95630 |
|
7009 New Sacto Way Sacramento, CA 95824 |
|
120 Mahonia Cir Sacramento, CA 95835 |
|
1939 Richfield Way Sacramento, CA 95832 |
|
10062 SILVER LEGENDS Dr Sacramento, CA 95829 |
|
4545 Mcroberts Dr Mather, CA 95655 |
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5362 Long Canyon Dr Fair Oaks, CA 95628 |
|
Sum of Losses: $52,568,809
6 comments :
1424 FITs. Up 1.7% from last week. Why would anyone buy a house until these numbers at least start to moderate. The pressure keeps building.
In 2004 & 2005, everywhere I turned, someone was talking about all the money they made in real estate. Fast forward to 2007 and all the stories are about how much people are losing.
A friend's father moved to Sacramento for a job a year ago. He owns a house in So Cal, which has been listed for sale about a year now. He had $80,000 in "equity" when he started, but has spent $42,000 carrying the property. He lowered the price $15,000 on two occasions, and not even one offer. Basically, he has nothing left. Even if he gets an offer today, he will lose money. The only thing that keeps him going is the hope of recovering a bit of cash on the sale.
This market is getting more brutal by the day. A lot of people on this blog suggested last year sellers should be getting 10% under the market to get a buyer. If this guy had done that, he would be $50,000 ahead a year ago. Now, he is probably going to mail in the keys.
Thanks Max as always
Yolo has gone to two pages of FITs and increasing nicely.
The two things that I have found interesting, are A) virtually no one has paid their property taxes, regular or supplementl( no real surprise there for a flipper), and B) that seemingly none of the lenders set up impound accounts to pay the taxes (or the flipper hasn't paid the lender...)
Sweet™
Timeline Guy,
You are absolutely correct. Sub prime loans have no impounds for property taxes or insurance. This just shows you how stupid the lenders have been in underwriting these types of loans. Wanton disregard for common sense planning. They take a below average credit risk, lend that person 100%+ LTV and assume he will pay his taxes every six months. I believe the servicers just do not want to fool with the hassle of servicing. So the ultimate buyers of the RMBS pools get stuck with a defaulting loan and get to pay back taxes and buy expensive force=placed insurance.
Idiots all. You can trademark that. Idiots All.
I am the queen of no surprises. Impounds would be the first thing I'd establish. Loosing the place due to taxes is just stupid.
a greta blog. I read come back to visit everytime i see some ridiculous statement made by some stupid ass realtor.
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