re: In April FHA paid 203,000 missed mortgage payments for 34,400 borrowers for $314,000,000

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There’s no source for this? Just the social media ramblings of Mr. John Comiskey? Whoever he is…

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Interesting to watch how politics can melt brains...

Why is the FHA making mortgage payments for borrowers?

Yeah, dale … there’s a lot of that going on in S Florida, particularly in the area stretched between Tampa and Naples .

I suspect that a lot of people moved there during and just after Covid.
Work from home people, … relos from blue staes impacted by oppression during Covid, and boomer retirees ….

They didn’t seem to understand the ramifications of home ownership in Florida … high property taxes on residential homes, extremely high insurance costs (if you can even find a provider) …. a brutal group of hurricanes.

My friend is in real estate in Ft. Myers / Cape Coral and states sellers are beginning to get desperate now, with excessive days on market … and that sellers are accepting offers at 20% of their original listing price. Brutal if you’re a seller, better for reluctant Buyers that are having trouble with higher mortgage rates.

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Why is the FHA making mortgage payments for borrowers?

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Biden kicked the can down the road to Trump

Fireworks will start sometime next year as the new HUD director and Trump set a date for expanded forbearance to go back to pre-Covid levels in October. It will take about 90 days for the preforeclosure process on those homes to begin and depending on the state some of those homes can take up to 3000 days or longer to go through foreclosure.

You didn't read that wrong. 3000 days in the system

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States with the longest average foreclosure timelines for homes foreclosed in Q1 2025 were Louisiana (3,038 days); Hawaii (2,274 days); Kentucky (1,993 days); Wisconsin (1,952 days); and New York (1,910 days).

States with the shortest average foreclosure timelines for homes foreclosed in Q1 2025 were New Hampshire (110 days); Texas (116 days); Wyoming (136 days); Minnesota (139 days); and Rhode Island (149 days).

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ATTOM Data




BTW, Cubbies, ATTOM is another very trusted source in the industry that you can use to complete your research. We are all looking forward to your summary.

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I would put damn good money on the fact that the vast, vast majority of these “forbearance“ payments were made for minority borrowers.

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Don't forget illegal aliens. Unless you include those as minorities (i don't, but won't split hairs on it)

And again, I see a great thread, and now four pages in, at least 2.5 pages are one person hijacking the thread and everyone giving them the attention they are seeking. Just ignore the troll and continue with this great discussion for fricks sake.

That person hates Elon so anything that comes from X, no matter how factual, is going to get an EDS reply. Please move on.

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 know two people with homes for sale in Tampa area. Both have been on market for +45 days and neither has had an offer even after several price drops that bring them right to break even on mortgage payoffs, closing cost, and realtor fees. Both were new construction and bought in 2022. They are fricked because neither will rent at break even when considering monthly ownership cost, either.

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Why would they sell then?

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SuperSaint

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With as much as you talk about trains, just come out and admit you are a train enjoyer.

It's okay. We won't judge you.

Free always means someone else paid for it. Only air is free and liberals would tax that if they could.

These are both active duty military officers with PCS orders for July. To say they are stressed is an understatement. One is in a $400k+ neighbor and the other is in $800k+!