ap July pending home sales rise to 2-year high

[Housebroken13]

July pending home sales rise to 2-year high - Yahoo! Finance

[pyeatpr]

Thats it everyone, the housing crisis is over and no more modifications are needed. Well that is what BOA would like you to believe and are probably the ones who paid the media and goverment to release these numbers.

[ama125]

Originally Posted by pyeatpr

Thats it everyone, the housing crisis is over and no more modifications are needed. Well that is what BOA would like you to believe and are probably the ones who paid the media and goverment to release these numbers.

I read this earlier today and laughed! Wait until that shadow inventory of foreclosures gets released, then we'll see headlines reading "Unexpected sharp decline in home sales" 'cause there won't be enough buyers out there to snap up that inventory not to mention that $8000 first-time homebuyer credit will be no more! Worst is still yet to come! Can't wait to see the next Treasury progress report on 9/4 on modifications. I wish they'd include how many trial mods have been made permanent!

[Garry]

When the banks dump all the properties they're holding the sales numbers will go up but the surrounding property values are going down. Their not going to tell anyone about that part of it.

[pyeatpr]

Originally Posted by ama125

I read this earlier today and laughed! Wait until that shadow inventory of foreclosures gets released, then we'll see headlines reading "Unexpected sharp decline in home sales" 'cause there won't be enough buyers out there to snap up that inventory not to mention that $8000 first-time homebuyer credit will be no more! Worst is still yet to come! Can't wait to see the next Treasury progress report on 9/4 on modifications. I wish they'd include how many trial mods have been made permanent!

I believe most modifications to date that have been done are really just forbearances. Those that have been given a paymemt reduction are due to perserverance, LoanSafe, NACA and some luck.

For me I believe my modification was granted due in part to being upside down on my loan by $60,000 and not having PMI insurance to cover the difference if I walked away and BOA was forced to sell it at auction. This site and NACA were major players in getting my loan modified as well.

[hithereguys1]

My application was submitted to servicer on 7/10. Today i logged in (9/1) and it says today is the submit date!!! Has this happened to anyone else? Does this mean i have been waiting since july 10 thinking i was submitted and not? I have gotten an "attempt to accelerate" letter, what do i do?

[ama125]

Originally Posted by hithereguys1

My application was submitted to servicer on 7/10. Today i logged in (9/1) and it says today is the submit date!!! Has this happened to anyone else? Does this mean i have been waiting since july 10 thinking i was submitted and not? I have gotten an "attempt to accelerate" letter, what do i do?

Email OOP...see the sticky at the top of the page for instructions if you have not done this before.