👉Housing Bust 2.0 -- Subprime Crisis, Millions of Homeowners with Delinquent Mortgages

👉Housing Bust 2.0 -- Subprime Crisis, Millions of Homeowners with Delinquent Mortgages 50 Million out of work, double-digit unemployment, everything is shut down, cities burning, everybody is angry at everybody, Mortgage delinquencies of at least 90 days rise to the highest level in 10 years, millions of homeowners cannot make the mortgage payments, 30% of homeowners said they had less than $1,000 in savings, and 40% said they would run out of savings in less than a month. Furloughs, layoffs, and decreases in hours are projected to continue for several months as businesses are forced to stay closed. Eventually, borrowers will burn through their savings and default of their mortgages resulting in an increase of foreclosures. Twenty million renters at risk of eviction. More than 20 million people, or one in five of the 110 million Americans who live in households that rent, are at risk of eviction by the end of September, according to the COVID-19 Eviction Defense Project (CEDP). While economic stimulus payments and unemployment insurance have allowed tenants to remain in their homes throughout the pandemic, CEDP Co-Founder Zach Neumann says that it is likely to change dramatically, with enhanced unemployment insurance set to expire at the end of the month. The number of serious mortgage delinquencies rose to a 10-year high in July, according to a report released by financial data firm Black Knight. 32% of households have not yet made their full housing payments for July. The number of homes with mortgage payments more than 90 days past due but not in foreclosure rose by 376,000 in July to a total of 2.25 million, according to Black Knight. Serious mortgage delinquencies are now at the highest level 10 years and have increased by 1.8 million since July 2019. The overall delinquency rate for mortgages on one-to-four-unit residential properties spiked by nearly 4% in Q2, reaching 8.22% as of June 30, according to the Mortgage Bankers Association’s National Delinquency Survey. The jump in the delinquency rate was the biggest quarterly rise in the history of the survey. Millions of Americans do not know how they can pay their mortgage. Tenants cannot pay their rent; landlords cannot pay off their debts. Everybody is gearing up to go into court, organizing their lawyers to file thousands of lawsuits. We are looking at months, if not years of crushing litigation, which is also an expense which people will not be able to carry.It is a tsunami in economic terms. A housing crisis is imminent and will likely show up next year. Mom and Pop homeowners make up the bulk of homeownership, and many of them are in deep trouble due to rent moratoriums pushing them toward bankruptcy and foreclosure while the renter population will see 40 million in the streets by next year; if not before as those moratoriums expire. The default rate is over 8% right now. The only thing saving most borrowers is forbearance plans. What happens when the clock runs out on these borrowers? They are all going to get wiped out, and the central banks will end owning everything. All mortgages will be wiped out. So that makes sense that the Fed is taking them over. When there is a foreclosure crisis because the politicians once again refuse to help individuals in favor of crony capitalism of the Too Big To Fails, the Too Big To Fails will once again be bailed out, and the homes will be sold for pennies on the dollar to the politician's Wall Street buddies. The banks get to keep the house and all of the money that has been paid for it over the years. The tens of millions that got their livelihoods destroyed by the pandemic get nothing. And the banks are the ones who are getting all the free uncle sam digital funny money. Same time again in 8-10 years. Damn, it feels good to be a bankster. The Fed owns 1/3 of all mortgages now. SOON TO BE 100%. The Fed owning a third of mortgage bonds is just the beginning. I think eventually they will own almost all of the residential market. Why? Because then they can control foreclosures. When the forbearance periods expire, someone (the Fed?) will try to stop the tsunami of defaults that are coming. If they own the paper, they can make decisions on how to handle defaults. We taxpayers will be on the hook again because the Federal bankster Reserve cartel will buy the banksters’ bad real estate debts (whether the banksters are foreigners or US citizens). So the taxpayers will have to suffer the losses since they will have to bail out the Federal Reserve, whose financiers control the US government. This pandemic is not going anywhere, so progressively, many more persons will default as time passes, and more businesses fail. We have only seen the tip of a huge iceberg thus far. I pray that I am wrong, but I doubt it. I just wonder if the total bailout cost to the US taxpayers will be over the $29 TRILLION that the 2008-2011 bailouts to the banksters cost. Slavery began with property taxes. With property taxes on purely residential properties. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. Don't forget to subscribe, And please don't forget to hit the little BELL button to get notifications. In America, the government, coupled with a slew of builder and Realtor associations, control the housing narrative. Huge discrepancies exist in the cost of housing in the various markets across America, and while price variations are not uncommon, they should be seen as a reason for caution. When millions of homeowners cannot make the mortgage payments and have to put these millions of homes on the market – forced sellers – they trigger a sudden surge of supply of homes for sale, and the entire supply-and-demand equation, and thereby the pricing environment, are going to change. Commercial real estate ruined by Amazon. Malls are going down all over the country. Why go there hoping that they have your size when you can click it now and get it tomorrow at your front door? The commercial real estate market is going to crater. So many companies have suddenly learned they don't need thousands of square feet of office space. And heck, they get to dump utility costs onto the employees. In a contracting economy, do you think that the ruling elite will take a cut in their living standard like the average person, or do you think they will take a greater share of the contracting economic pie in order to maintain their standard of living and net worth? Of course, they will take a greater share because they are in charge and can control to some extent the outcome of wealth distribution through the management of the economy by the government they control. That is the first issue. Study 17th century farming techniques because that is what is coming. We're going to see a surge in homelessness. People who cannot in any way, shape, or form manage this situation. If you are evicted, you can't cover the cost of a lawyer to protect you against this eviction, especially because the lawyer may not be able to prevail against the kind of legal heavy hitting that banks can afford that large landlords can afford. We are going to have this spectacle on top of all of the everything else happening to us of that American situation in which we have homeless people sitting on the curb across the street from unoccupied apartments and homes, and that does not become a sustainable situation like so many other things are becoming unsustainable. The wealth gap keeps increasing with no end in sight, millionaires becoming billionaires, and the middle class becoming poverty level. Of course, there are delinquencies. When the government tells you you don't have to pay, lots of people don't pay. Duh! All this stimulus money and forbearance plans only make the situation worse. There are way too many people that will jump on board the gravy train because they can, and most don't need it. Kind of like food banks, if it is free, go grab some. We're watching the chasm between the haves and the have nots widening. Folks with manageable debt and secure income are taking advantage of low mortgage rates while the folks indebted to the hilt with maxed out credit cards,and installment loans that financed their way of life.Sudden unemployment, and it's instant poverty. These are the folks driving late-model SUVs seen in pics of lines of people waiting at the food pantries. The growing group of have nots will increase in numbers exponentially as the economy worsens even passed the election, which is even more of a reason to get out of the cities. Get yourself prepared. In the last decade, debt has soared across the globe. With this in mind, you never want to be caught on the wrong side of a debt default. Lenders will find little help in recovering their money from an expensive legal system that has become overwhelmed by the complexity of modern life. Legislation that allows easy bankruptcy protection is a gift for anyone wanting to plot a course forward by exploiting those stupid enough to loan them money. This includes landlords and suppliers willing to extend them credit during hard times. To be clear, a default results in a transfer of wealth. The Fed has snapped up $1 trillion of mortgage bonds, with their magic money. Now they can forgive the debt for the homeowners. Next,the Fed can forgive the student loan debt by printing more magic money. Mo Magic Money. We are NEVER going back to the pre-COVID days. This is The End of Civilization we are looking at. Enjoy this phase of the End of Days while it lasts. What you are witnessing is the Fed takeover of America. The bankers have waged war on the middle-class entrepreneur who either has a small business or is a small landlord. They are doing everything possible to drive these people out of business while supporting the financing for corporations to step in and take their place. This is what they have had on their agenda for decades, and now it is coming to be. Once the middle-class business people are wiped out, they will officially declare that the American Dream no longer exists.And capitalism must be replaced by communism and that the only way for people to survive is with government handouts. The country, once a symbol of modern capitalism is now a joke. Banks, fatcats, politicians, lawyers. And tons of red tape and propaganda. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

👉Mortgage Market Meltdown: Mortgage Delinquencies Suddenly Soar at Record Pace !!

👉Mortgage Market Meltdown: Mortgage Delinquencies Suddenly Soar at Record Pace !!







Mortgage Market Meltdown: Mortgage Delinquencies Suddenly Soar at Record Pace. Over 4 million Americans are now skipping their mortgage payments. An indicator that presaged the Housing Crisis is flashing red again. New mortgage delinquencies hit a record as people couldn't pay. Many Americans did enter forbearance programs, but will they be able to pay in August, September, and October? 3.4% of mortgages are delinquent (2008 peak was 2.0%). Free cash flow is in free fall. The macro-environment is severely impaired. It’s actually worse. Mortgages that are in forbearance and have not missed a payment before going into forbearance don’t count as delinquent. They’re reported as “current.” And 8.2% of all mortgages in the US – or 4.1 million loans – are currently in forbearance, according to the Mortgage Bankers Association. But if they did not miss a payment before entering forbearance, they don’t count in the suddenly spiking delinquency data. These numbers will only go up after the "free money" train runs low on gas, which happens over the next few weeks. 30% of all renters are also now behind in paying their rents. And 28 million facing mass evictions over the next two months. Who will rent from those landlords who evict? You ain't seen nothing yet. Wait until the moratoriums prohibiting foreclosure sales are lifted. For FHA/VA/GNMA/FHLMC/FNMA, and most other private investors, there have been no foreclosure sales since March. With no interior appraisals, there has been little price discovery and mark to market balance sheet/loss reserve adjustments. Just wait. Madness is coming. The banks have a problem, and they know it. They may be better capitalized than they were in 2007, but that doesn't account for the bigger size of hidden risks embedded in the system (VIE). There is never just one cockroach. This will get way worse over the next few months. A new banking crisis is inevitable. Airlines, hotels, car rental, restaurants, oil drillers, refiners, and shippers did not sign leases and borrow huge sums of money based on 50% capacity. Too much debt and not enough customers equal bankruptcy. But no need to worry, the banks are too big to fail! “This is a financial extinction event, and the Fed's pathetic shamans can't reverse history.” This is a financial extinction event and the Fed's pathetic shamans, along with the willing politicians across the globe, and the abject stupidity of the sheeple, CREATED THIS history for the purposes of causing worldwide neo-feudalism. Global Debt Ponzi Death Rattle. We should be getting massive deflation, as asset values begin to reflect economic reality. Too bad that won't happen. The Fed won't allow it. The government can't afford it. This is the road to hyperinflation. There's still property tax, inflation tax, bank bailout taken from your bank account tax (incoming), police and eminent domain asset seizure on spurious grounds (like unproven speeding), rioters ravaging your area. Systemic collapse is ongoing. Debts are inevitable in this monetary system, same with foreclosures and therefore the need for forbearance, it's like a game of musical chairs. Americans have been sold the notion that homeownership is a means to independence, when, rigged as the system is, it’s just the opposite: a road to dependence on your employer and eternal debt. Banks have arranged mortgage payments so that a borrower pays mostly interest in the first years—and in most of the years—of a loan, which minimizes borrower equity. Not until roughly year 20 of a 30-year mortgage does the amount of principal paid off equal that of interest. With the game rigged like that, a homebuyer doesn’t acquire much equity until the last third of a mortgage’s life. Until then, they are paying mostly interest. That’s wealth extraction. It could be set up in many different ways, but the banks have gamed the system to benefit themselves and screw the mortgagee. The word MORTGAGE itself means death agreement. Stew on that It translates from the French, literally meaning "death grip." That means the lenders' attachment to the property until they are repaid can not be broken. And who is next in line - the taxing authority - none ( individually ) to my knowledge have allodial title to their property. In most cases, it can be taken from an individual if the taxes are not current. Everyone is paying rent, though it masquerades as buying ownership. The home mortgage is only one of countless methods by which the rich use their power to move wealth toward them. Corporate and wealth-favoring tax breaks, high taxes on earnings versus low taxes on capital gains, pre-payment penalties, exorbitant credit card interest on no-annual-payment cards versus low rates on high-annual-payment cards for the rich, redistribution of taxes to corporate officers via government contracts and subsidies, expensive lobbyists who write the laws, executive salaries thousands of times greater than those of workers—these are all legal tricks to help the rich pull money out of the pockets of the rest of us. It is a system designed for the rich to direct resource flows toward them, not because they merit it, but simply because they control it. If you haven't worked out by now to move out to the country ( preferably with some arable land and debt-free) away from urban crap holes, then it's likely too late. It is staggering how few people truly understand the usury of debt. For every dollar you borrow and then owe, you must earn 3 dollars to pay it back. Why? Because for each dollar you earn, the government gets a third, and then the bank gets a third in interest. It's modern-day slavery. Funny how they don't teach this in schools. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, I rely totally on your donations to keep this channel functional, as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. What we have here is another crisis manipulated by the financial pirates to their gain. Just as when Bush was in office, they have another easy to manipulate leader in Trump. So what we get is huge government debt, which goes to cover the losses the pirates would have taken based on their previous reckless behavior. Politicians are just puppets. It's the central bankers orchestrating this takeover of everything they can get their greedy hands on. Mortgage defaults were skyrocketing long before the pandemic. Housing prices and rental rates were cratering long before pandemic too. Mortgage defaults started skyrocketing two years ago. Just wait until mid-September when the defaults skyrocket. If you think this is bad, wait until the eviction moratorium is lifted. Smart landlords are ahead of the game and have started the eviction process, so they can be first in line at the courthouse. But that ain't nothing compared to the avalanche coming when the rest of the landlords that have been operating with good faith realize that all that back rent won't be paid. And that's only residential. Commercial Real Estate will make all that SOAR EXPONENTIALLY! Central banks have been printing cash so fast since 2008 that they have managed to keep the nuclear winter away from the heat of the press. So, bank cartel, how's that MMT working out for you? Or is that your plan, to foreclose on all privately held property? Perhaps this is the endgame of the fiat currency debt-based economy that has been punishing savers and rewarding debtors for decades. To get nearly all private assets tied up with debt so that they could be stolen at the fall. Bought up with money created out of thin air. MMT is working great for Wall Street. Not much MMT for the main street. And MMT for individuals needs to become perpetual since this is the only thing supporting our economy. Once it ends, so does our economy. MMT, after this next round of stimulus, will end, and so will our economy. Everything is moving along as planned. And those who created this crisis in the first place will offer to bail us out after everything crashes. All we will need to do is allow this international banking cartel to replace our US dollar with a currency of their very own. A long-desired, one world currency. If Congress doesn't plug the unemployment hole, all Hell is going to break loose; you will see riots that make Soylent Green look like child's play. What the Globalists unleashed will earn them a repeat of "house cleaning" a la French Revolution. When they killed the Thin Blue Line, they killed their own wall, separating them from very angry, very hungry, very desperate mobs. "Desperate People do desperate things. The Globalists will get an education: You can't run the world from an underground bunker - especially when your bought and paid-for cops and military turn on you because they finally realize there is no reason to allow you to live when they can split-up your wealth. The fallout will be epic. You should have a plan and pray you never need to use it. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

👉Despite Record Low Mortgage Rates -- Massive Foreclosures and Prices Correction Looming !!

👉Despite Record Low Mortgage Rates -- Massive Foreclosures and Prices Correction Looming !!






Mortgage rates fell to an all-time record low in the week ending 2nd July. The weekly decline came off the back of a hold in the previous week. 30-Year fixed rates fell by six basis points to an all-time low 3.07%. In the previous week, 30-year fixed rates had held steady at 3.13%. Compared to this time last year, 30-year fixed rates were down by 68 basis points. The mortgage rates are going to continue dropping. It should be 2.0 to 2.5%. There's no reason we should pay any interest in our homes when the FED is handing out free money. The math is ugly. Consider how many americans live paychecks to paycheck, how many are actually out of work, or have had income cut significantly. How slow jobs will be to return to previous levels. 10s of millions of homes just became too expensive for the people that “own” them. Homelessness will pop way up. Rates will continue to fall. Not a terrible time to get home. Wall Street is a drug addict deprived of its drug, which is frankly why the markets kept climbing. Vast amounts of liquidity, zero-bound rates, QE to infinity and beyond, are an addiction not easily kicked. Wall Street is demanding the Fed move, and the Fed acting as a cocaine pusher is happy to oblige. Trillions more dollars in "stimulus," endless money printing, eternal debt. Overpriced and rates will fall. Hyped up home prices need to go down for any chance in sales increase. More like "lenders are desperate to lock in rates that are set to decline further. No need to rush. These rates have yet to bottom and will be south of 4% for years to come. Don’t buy an overpriced home but refinance if your current mortgage has a higher interest rate. Rates will not go lower without more government help in purchasing back mortgage securities. And the Fed will pump trillions to get these rates lower and lower. Should you rush out there to get a mountain of cheap mortgage money, when you don't have a job to make the payments with? Or are the low rates only for the very wealthy? Who can once again take advantage of a crisis to put more distance between themselves and the rest of America? Would you rather get 20% off your home price when interest rates are high & then refinance to a lower rate when they fall? Or pay top dollar for your home when interest rates are low, and pay tens of thousands more over the life of the loan? Wait a couple of months, and there will be a glut of homes on the market, and very few buyers - rates won't be higher than they are today. Buying is only good if taxes are reasonable. Lower mortgage rates are great for people buying a home or refinancing, but to be eligible, people will need to have proof of employment. With many laid off right now, not too many people will be able to take advantage of the lower rates. Also, most lending institutions require a minimum of six months of employment proof. So, even if someone goes back to work right now, they may not be able to secure the lower rate since they were laid off for quite a few months. The reality is the loan rate you get is far more dependent on how much you are borrowing and your credit rating. It depends on your credit and your credit score, the higher your credit score is, the better rate you get. Many lenders will also give you a low rate without telling you if they are charging points. Make sure you ask them, because this is very deceptive, and I would stay away from that lender, which happens mostly with your online lenders. Someone with a low credit rating (below 800) will be paying 5% or more. If you borrow over $500k, the fees and points and requirements for insurance will drive your real costs up well over 5 or 6 % regardless of your credit rating. When you are looking for a loan - remember it is not about your needs - it is about how much money the banker can reasonably suck out of you. Refinancing almost never works - you have to be getting over a 2% drop and reduce your time frame by at least half - ala 30 to 15 years - to even approach not doubling your real costs. Lowering your monthly payments is a gimmick - you have to look at the total cost of the loan over its lifetime - if you do, you will understand just how dumb most changes really are. When the interest rate goes up, house prices will drop like a rock. You could also re-finance when interest goes down at some point. You can change the interest rate, but the price you pay will never change. This is one of the main reasons some people retire wealthy, and some people retire with nothing. Mortgage principals have to drop a lot. Until then, drops in rates don't mean much. Prices need to correct before most people would want to buy. Interest rates only go up during economic boom times, and that’s when tons of people are out there buying homes. Today The economy is on the brink of complete collapse: Twenty-five thousand store closures, record-setting bankruptcies. We're still 15 MILLION jobs BEHIND. We're months and months from being even. It's staggering how nobody sees this, and the 0.1 % are making fortunes on a stellar stock market while the country remains in COMPLETE TURMOIL. Home prices are through the roof. Good luck if you need to sell in a few years when rates go back up and reduce purchasing power. Homes are grossly overpriced, and the FED isn't going to be raising interest rates anytime soon. Stop trying to manufacture a sense of urgency: We're in for a very long recovery, and it hasn't actually got bad yet. Time to get out before next year's massive foreclosures hit the country. Many homes will be lost because there is no way the folks who permanently lost their jobs will ever be able to back the delayed loans. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, google has demonetized this channel, so now I rely totally on your donations to keep this channel functional, as you know it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. The virus pandemic and social unrest have sparked an exodus of city dwellers to rural communities and towns. Remote access for work, and the recession, coupled with high unemployment, will extend this outbound emigration trend for the next several years as people seek cheaper living accommodations ex-metro areas. There is going to be an incredible supply of rentals. We are going to see a lot of negotiating and landlord incentives. I think we will see rates below 2% soon in an effort to juice the economy to prevent the greatly feared deflation. And on cue, the American consumer will step up and go into debt at low rates. Job security is not a problem. Let the good times roll. You are delusional if you think people are even thinking about buying right now. From 2012 to now, seven years, houses have TRIPLED in some places. There is no way people will put themselves at risk with a minute mortgage rate cut and be on the hook for HUNDREDS of thousands. No wage increases or very little. Even Texas is expensive. Property taxes are expensive, nobody has 10-25K sitting around to pay this annually, and you are on the hook for this.Plus now fewer deductions. Black Rock and the FED need to get out of US Residential housing as soon as possible. This is not their place to invest. Let Americans compete, not corporations and funny money FED printing out of thin air. Think of the '80s and '90s. You could get a single-family home in the DC area for under $200k, but the interest rate was over 15%. Today, you're hard-pressed to find a home under $500k, but the interest rates are under 3%. The monthly cost on either one is not much different. You can't have your cake and eat it too. House prices are shooting up in certain areas because of the epidemic. Coast to coast, people are fleeing cities: San Francisco Rent Drops Most On Record As People Flee For Suburbs. Wealthy Homeowners In 'Mad Rush' To Flee rats infested San Francisco. Rich People Flock To Aspen, Park City As America's Inner Cities Burn. Florida was where New York and New Jersey wealthy though they could hide from the virus - got that wrong, but the real estate prices went through the roof overnight - with 11,000 new cases every day - wonder how long that will last. California has seen a surge in near suburbs - ala the flight from San Francisco, Los Angeles, and San Diego to the smaller communities to the north and east .Many of these not big city counties are seeing surges of 20% overnight - as the wealthy in the big cities look for a second home they allow them to flee the cities and the surges in the epidemic. Many of these counties have incredibly low infection rates compared to the rest of the country - as long as that holds - this trend will continue. Rates mean almost nothing to the wealthy fleeing big cities - they are paying with cash, then financing after buying with the lowest rates available to anyone. To sum up, if you haven't considered leaving a major city - now might be the time, due mostly because a correction in housing prices is likely underway. No one wants to live in a major city infested with riots, civil unrest, crime, and high taxes. The virus is only part of the problem. The exploding crime rate is the real reason people are leaving town, and they aren't coming back. It's truly amazing to watch real estate prices spiral up and up and up, with a few cash-rich people buying up stuff they haven't even looked at in person . They buy flipped hovels that are barely livable for 200 plus a square foot sight unseen), while no one else is touching the market with a ten-foot pole. As soon as the spendthrifts run dry, there is going to be the mother of all corrections and units lying dormant without maintenance as owners just dump. Obviously, all of that real estate money is getting funneled into stocks. Until the market crashes, then it will flow into something else. Probably gold, but also some back into now vastly cheaper real estate. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!