Posted on 03/08/2025 9:17:56 AM PST by dennisw
********The US government is currently stopping over 1,000,000 defaulted mortgages from going to foreclosure under the FHA mortgage program.**********
The result is another Subprime Housing Bubble, one that could cause huge declines in home prices around the US if it's allowed to burst.
Access housing data on Reventure App to track inventory and forecasts: www.reventure.app
The WSJ just broke a story uncovering how the Biden administration continued to offer mortgage relief to defaulted homeowners well after the pandemic was over. Right now there are over 300,000 seriously delinquent mortgages being blocked from foreclosure by these regulations in 2025. --- REVENTURE APP: https://www.reventure.app
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(Excerpt) Read more at youtube.com ...
How many of these foreclosures belong to laid off federal government employees?
They’ve only been laid off for a few weeks (and as far as I know, got severance pay). It takes much longer than that for the foreclosure process.
Too soon for them. These loans are seriously delinquent which means 3+ months. Around where I live I believe prices are down about 10%year over year on comparable houses and selling pace has abated a bit. We live NE of Jacksonville fl. One thing increasing ironically is the number of real estate sales people. Seemingly cannot walk a few yards without stumbling over one. If the FHA has been putting out NINJA loans again, those responsible should be shot.
CFPB
Consumer Financial Protection Bureau
That’s why they are fighting tooth and nail to keep this away from Musk.
They are the bureau that mandates no collateral loans to non citizens and many other ridiculous racist transfer of wealth things.
They also stop loans from going to foreclosure.
CFPB up to their neck in this.
Pocahantas favorite as well.
I'm not sure that would be a bad thing. Housing prices are over inflated and young people have little chance of owning anytime soon.
People who do not pay their mortgages should not be bailed out by Joe taxpayer.
The big difference I see from watching this guy’s YouTube channel is that in the south the competition is between an existing home owner and the big builders.
Meaning the Lenars and the other nation wide home builders.
One of the things he points out in his various videos is that someone who bought their house two years ago is now competing against the same builder for the exact same model on a brand new house that is priced less.
Plus the builder is willing to give the buyer better financing than you can get at a typical mortgage lender today.
You typically don’t see that phenomenon up here in New England.
First of all there are never big subdivisions with a hundred houses built.
So, if you list your vintage house for sale you are typically only competing against other existing homes.
Government should not be in housing.
There’s a reason FHA requires mortgage insurance on all FHA loans for the life of the loan. 50% down you still have to pay mortgage insurance. I have not underwritten an FHA mortgage in many years but I doubt that rule has changed.
Bkmk
Humm. The nasty bastards of the Biden administration deliberately did this so that the Trump Administration would stop making payments and force the collapse to happen in Trumps administration rather than Bidens.
#12 the further south you go in Florida the bigger the alligators and boa constrictors are.... 🐊 🐍
__________Humm. The nasty bastards of the Biden administration deliberately did this so that the Trump Administration would stop making payments and force the collapse to happen in Trumps administration rather than Bidens.____________
Exactly! And like all good Democrats they ran up more USG debt to do this. These FHA mortgage bailouts are going to poorer Democrat voters and immigrants by 80% over Republican voters..... My guess. >>>>>>> These FHA mortgages went to the non-qualified! As in they only had to make a 3% down payment and no bank would make a mortgage to them.
You could be unemployed. As long as you had the necessary cash between sales price and loan balance, you could buy the property.
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