Headlines...

NEW -> Contingent Buyer Assistance Program
IR is the "cockeyed optimist" according to CNBC. At last CNBC has got something right.



<a href="http://www.cnbc.com/id/29913689/">go to the bottom of the page</a>
 
And you thought jingle mail was extreme. Now, <a href="http://www.nytimes.com/2009/03/30/us/30walkaway.html?_r=1">the banks are walking away</a> and not even bothering with foreclosure.
 
The truth will set you free. Jim Klinge and Lawrence Roberts are my heroes. We all owe guys like this a big debt (pardon the pun) of gratitude.



<a href="http://www.capecodonline.com/apps/pbcs.dll/article?AID=/20090405/BIZ/904050302">CARLSBAD, Calif. ? Sometimes the truth hurts. Real estate salesman Jim Klinge doesn't care.</a>
 
[quote author="awgee" date=1237962300]IMO, this is a must read. It takes 50% of what I have been ranting about for the last year and coherently consolidates it into one article.





<a href="http://www.rollingstone.com/politics/story/26793903/the_big_takeover/">The Big Takeover</a></blockquote>


Found the full article here:http://www.zmag.org/znet/viewArticle/21007



Totally agree with Awgee - its a must read.
 
Hi guys,



Long time lurker, low level poster here, but I think I've got some interesting news to share with the community.



Mr. Mortgage is back and has a new website up, and he's talking about the wave of foreclosures coming in June.



Here's the link:





<a href="http://www.fieldcheckgroup.com/2009/04/07/4-7-ca-foreclosures-about-to-soar/">CA Foreclosures About to Soar</a>



Dejnov.
 
<a href="http://news.yahoo.com/s/ap/20090410/ap_on_bi_ge/banks_stress_tests_5">Fed to Banks: Keep Mum on Stress Test Results</a>



Disgusting. The Government induces hiding the truth...
 
[quote author="No_Such_Reality" date=1239507650]<a href="http://news.yahoo.com/s/ap/20090410/ap_on_bi_ge/banks_stress_tests_5">Fed to Banks: Keep Mum on Stress Test Results</a>



Disgusting. The Government induces hiding the truth...</blockquote>
Does it really matter when we know what the results of these so-called stress tests will be? Especially since it is the banks who will doing those stress tests, what a freaking joke.
 
I see graph was on top of this <a href="http://lansner.freedomblogging.com/2009/04/13/calif-to-take-worst-fall/18773/">article</a> on the register; very similar to today's main page post!
 
<strong>Oh Noes!</strong>





<a href="http://news.yahoo.com/s/ap/20090421/ap_on_bi_go_ec_fi/us_bailout_fund">Treasury says about $110B left in bailout fund</a>



WASHINGTON ? Only $109.6 billion in resources remain in the government's $700 billion financial rescue fund.



But Treasury Department officials said Tuesday they expect the fund will be boosted over the next year by about $25 billion as some institutions pay back money they have received. That would boost the total to $134.6 billion.
 
[quote author="awgee" date=1239612673]My congratulations to the US Navy Seals, especially their snipers.</blockquote>


<img src="http://www.uploadandgo.com/images/seals.jpg" alt="" />
 
[quote author="halfnote19" date=1240374700]<a href="http://'http://lansner.freedomblogging.com/2009/04/21/oc-housing-seen-137-undervalued/19431/'">O.C. housing seen 13.7% undervalued</a></blockquote>


Meanwhile Home Gallery Magazine (you know the glossy house pimpin' rag) for the IE has pages of homes listed with lines like $643 per month*** for 3bd, 3ba, SFR 1500F



That footnote, the ***, it's horrible...



*** based on 3.5% down, 5.5% FHA 30 year fixed, PITI, PMI & 5.876% APR.



Yes. That's right, payment, taxes, and PMI for under $700/month. It's not one home. It's page after page that will take $3000 and a $30,000/yr income to buy.



Or maybe you'd just like to use your planned down payment for a cruddy Irvine townhome to buy it free and clear and still have money left over to remodel the kitchen...



Maybe you want bigger, how about $1242/mo*** for 4/4 SFR in 3100sf. That one is horrible, it's going need $5500 down to do the deal.
 
<em>Existing Home Sales Fall 3 Percent In March To Annul Rate of 4.57 Million</em>





I am confused, and not sarcastically. I thought home sales would increase for a month or two.
 
<a href="http://news.yahoo.com/s/ap/20090428/ap_on_he_me/med_swine_flu_170">Swine Flu enters dangerous new phase...</a>



The panic drums continues to beat.



The excuses for the economy are already appearing.



welcome to the State of Fear...
 
So much for Cramdowns....Next!!



<a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/04/30/AR2009043004075.html">Senate rejects mortgage bailout bill</a>
 
[quote author="No_Such_Reality" date=1240912502]<a href="http://news.yahoo.com/s/ap/20090428/ap_on_he_me/med_swine_flu_170">Swine Flu enters dangerous new phase...</a>



The panic drums continues to beat.



The excuses for the economy are already appearing.



welcome to the State of Fear...</blockquote>


Oh no, the panic is ending... <a href="http://news.yahoo.com/s/ap/20090503/ap_on_re_la_am_ca/med_swine_flu_428">Three new swine flu deaths in Mexico!</a> Oh wait, it's only the 19th death in Mexico from the flu. The panicked breathless reported of probable deaths last week was once again erroneous. Instead of thousands of cases and hundreds of deaths, it's a few hundred cases and 19 deaths...
 
Paying to sell your home. Too funny.



<a href="http://www.starbulletin.com/business/20090505_Homeowners_pay_to_sell.html?ref=patrick.net">Homeowners pay to sell</a>
 
The fate of California.



<a href="http://online.wsj.com/article/SB124329282377252471.html">Millionaires Go Missing </a>



One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates.
 
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