Video by: markmti
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URGENT- THIS IS THE MAY REPORT NOT THE JUNE REPORT AS I STATED IN THE VIDEO. I WISH I WAS GOOD ENOUGH TO PREDICT FORECLOSURES THREE WEEKS IN ADVANCE! DOH!
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Mr Mortgage May CA Foreclosure Report

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Tags: alt-a banks bear bubble bust crisis estate forclosure home housing lehman mortgage mr real recession stearns subprime  mr mortgage may ca foreclosure report See more videos uploaded by markmti

Comments for this video on YouTube

I always know I'm ... ( 5 months ago by visionvictory)

I always know I'm going to get a great video when you post. Thanks for the loads of data.

word ( 5 months ago by markmti)

word

Array ( 5 months ago by mortgagetrader)

WOW DOROTHY... "word" What you doing? Tripping some acid? or is there some secret meaning hidden in that message? Like playing Beatles songs backward? Maybe the Yellow Brick Road is just some strange trip for you... "Long and winding roads"

I think Mr Mortgage ... ( 5 months ago by furrycushion)

I think Mr Mortgage has bought a new property - definitely a different background today.

Great video, per ... ( 5 months ago by stinkypoon)

Great video, per usual. Did you read the piece in the WSJ about people buying a second house for "cheap", then letting go of their house they bought at peak bubble? I can't imagine the lenders and banks will continue to let them get away with it, but I see signs of a compounding downturn in housing. You seem alarmed about what this is doing to housing values and want intervention. Are you in favor of a bail-out, or like me want to see the market return to fundamentally supported levels?

not me! I am ... ( 5 months ago by markmti)

not me! I am wiating for CA to fall another 50% so I can buy a new single story place and walk away from my current house! Just kidding. Hey, believe it or not, I got out of my rentals and 2nd home and the only thing I have left is a primary and family 2nd home shares by my mother and brother. But I have gotten killed on values too.

no i didnt but I ... ( 5 months ago by markmti)

no i didnt but I know that is happening everywhere.

I am very alarmed. ... ( 5 months ago by markmti)

I am very alarmed. We need exotic loan programs back and problem solved,

I actually had a ... ( 5 months ago by stinkypoon)

I actually had a conversation with somebody where I was explaining the traditional rule of thumb that the mortgage should be around 3x one's salary. She said "yeah, but didn't they change that to 5x the salary?" We need the news outlets to become more sophisticated and teach the public that the bubble was the problem, not the foreclosures. The foreclosures are symptomatic of the problem. The media cannot keep using NAR spokespeople as correspondents. It really keeps the public dumbed down.

"We need exotic ... ( 5 months ago by mortgagetrader)

"We need exotic loan programs back and problem solved" WHAT THE F, DOROTHY? Couple videos ago you called this stuff "toxic waste", and now you want it back??? We don't want it back. Our shop doesn't make a single dime cleaning up someone else's dump site... maybe others do. But there's one thing about toxic waste you better understand real well. You can move it from place to place, but you can never ever get rid of it for good. Still looking for the missing 800 bps?

I make 250k a year ... ( 5 months ago by Repomex01)

I make 250k a year and puchased a hud buyback 3 years ago in dallas area.. i can travel anywhere, anytme buy whatever gadget or trinket. but I prefer to live below my means I make more than any of my siblings and they live in much more expensive homes out in the suburbs. Let me tell you what saddens me.. it is the state of our sorry economy and our shrinking Dollar for I am greatly exposed in that depreciating paper.

Oh almost forgot I ... ( 5 months ago by Repomex01)

Oh almost forgot I paid 52k cash plus 15k in remodeling for (my home which I currently occupy) it. and am currently dumping the last remaing bits of my rental properties.

Array ( 5 months ago by foreclosesurernan)

Repomex01 Call me Mr. Rogers... Pretty sure I just picked up a bunch of business in your backyard. You got the nicest house in the Bad Bad Leroy Brown part of town. Suggest putting bars on your windows. And if you got kids, especially girls, you might want to send them to live with relatives in the countryside. My $0.02 ForeclosureMan

My gunsmith made a ... ( 5 months ago by Repomex01)

My gunsmith made a comment to me today while he was returning my Decked out AR15 (the smaller of my Assualt Rifles)You are wayy better armed than the average gun owner. Problems come knocking I go pounding and real hard. Its a wonderful day in the nei...

Definately the same ... ( 5 months ago by foreclosesurernan)

Definately the same 'hood. If you want to pick up some extra beer money, I may need someone just like you to ride shotgun with me.

Yeah I guess I ... ( 5 months ago by Repomex01)

Yeah I guess I should have did my salary X 5 and stated no doc back in 04 my exotic loan in your exclusive gated "hood" would be waaaayyyyyyy upside down.. DAMN I wish I had your Investment Banker grade I.Q.,., ,, my sister is a realtor and her husband is ,, Im sorry used to be,, No used to own a Mortgage (middleman broker) company , he now sells cars she cuts hair

Your a smart guy ... ( 5 months ago by bdrasin)

Your a smart guy and well informed, so it really shocks me that you would say this. This is like a recovering junkie in the shakes of withdrawl says "just give me one more dose, problem solved...". The exotic loans don't actually make places more affordable, they just allow you to pretend that you can afford it for a few years.

Array ( 5 months ago by mortgagetrader)

bdrasin Did they call you "The Scarecrow" as a kid, or just as an adult? Read my post a few down from yesterday. At least we agree on one thing. Spelling and grammer is another matter... "Your a smart guy"? How about "You're a smart guy"? Too bad neither the Dorothy or the Scarecrow are "well informed"... My advice to you both: 1) Follow the Yellow Brick Road 2) Watch out for flying monkeys 3) Be very afraid once you get to Oz. M-Trader

When will those ... ( 5 months ago by sheiki22)

When will those discounts come to the northeast??? The prices are still too high there.

mortgagetrader, ... ( 5 months ago by stinkypoon)

mortgagetrader, your sarcasm detector is broken you twit.

Mr Mortgage - You ... ( 5 months ago by dispatches67)

Mr Mortgage - You back up your analysis with pretty solid stats, and the Irvine blog, although anecdotal, shows that once was blue ribbon california real estate, going into a tailspin. In Calgary, we're seeing tightening credit and the effect of rising oil prices (gas approx $5.50 CDN a gallon) softening the real estate market - and this is "the" bubble "oil" economy of Canada. In other words, the real estate market is suffering globally. I'm saving and waiting. Andrew

You could buy some ... ( 4 months ago by Thunderwavia)

You could buy some high quality diamonds as a form of wealth protection. Gold and silver is heavy, and may be confiscated, but high quality diamonds! Once the Sh$t hits the fan, hyperinflation and all that crap. No value in a paper fiat currency, and real estate. So, consider buying a few high quailty diamonds. During a credit housing crash, real assets, especially diamonds would rise. Also they are easy to carry, say during mass social unrest in starving cities, you can also swollow them.

mortgage, it's ... ( 4 months ago by zenithomega19)

mortgage, it's called SARCASM. idiot

Banks are in the ... ( 4 months ago by LeftLiberalSoCal)

Banks are in the renting industry?