May

4

Finance companies say they’ve lost billions in sub prime @200K average per home why aren’t there more on sale

Filed Under mortgage 

weeman asked:


At least $50billion has been written down by various finance institutions, apparently as a result of problems with sub-prime mortgages. Assuming the average home price to be $200k, there should be about 250,000 homes in default and therefor in foreclosure. I do not see that in the market. Are the finance companies using the sub-prime market as a cover up for other financial miscrepancies?

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    • Comments

    No Responses to “Finance companies say they’ve lost billions in sub prime @200K average per home why aren’t there more on sale”

    1. truluv78 on May 4th, 2009 2:49 pm

      An real estate agent.
      For there bank owned property list or an real estate agent.

    2. DAVE on May 5th, 2009 3:21 pm

      You need to look around there are many homes in default and foreclosure

    3. blessed_thang on May 6th, 2009 4:39 am

      My opinion there should be determined after the front lawns of what is worthless the election im only angry that loss with the election coming down.

    4. maryjellerson on May 8th, 2009 5:59 am

      The banks are so many of them up for cash.

    5. godged on May 9th, 2009 12:41 am

      It depends on your market.

      I was in Vegas last fall, lots of foreclosures on their market. I understand Florida has been hit hard also.

      And the speed of these houses hitting the market is regulated by local laws. I have seen foreclosures sit for months before the lender finally offers them for sale.

      With so much regulation and scrutiny, I cannot imagine there is some cover-up going on.

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