Thank you to Charles Cox and Foreclosure Hamlet for sharing the followiing.
The Sheriff for Carroll County New Hampshire, High Sheriff Christopher Conley has announced an investigation regarding mortgage fraud. I have attached the Press Release below, you can click on the link:
Mortg%20Fraud%20TF%20Docs%20070212.pdf or click here: Sherriff Invesitgates Fraud
Hopefully other Sheriffs around the country will follow in his footsteps. I would encourage everyone to share this Press Release with their Sheriff and demand that they also start an investigation into the mortgage fraud, and send an email or call the Carroll County Sheriff and give him your support.
You shouldn’t touch real esatte, as I think it will be dead money for another decade. Rent, don’t buy. If you have to buy, then get a 30 year fixed rate mortgage now at 5%, because rates are going up a lot in the future. When I bought my first home in New York in the early eighties, I got nailed with a 17% interest rate on my mortgage. We may revisit those levels.Houses will continue to move lower, maybe another 10% or so. We have another wave of foreclosures hitting the system soon, triggered by the option arm readjustments. I see support for prices when the cost of owning and the cost of renting are more in line. Home ownership may have to become cheaper than renting, because of perceived risk to the principle, for the real esatte market sell-off to finish. However, expecting houses to drop a lot from here is like shorting Citibank at $3. We’ve basically had the big move already. Due to poor demographic factors, the demand for houses is going to take a long time to come back. While 80 million baby boomers are trying to sell their houses to 65 million gen Xer’s, don’t expect a recovery in prices, especially when the gen Xer’s are still living in your basement. Reply