New here - Any others actively investing in the USA

[donna]

I read 2012 will see a return to record rates of foreclosures after a dip in 2011.

Here's one article - 21 states to see rise in home foreclosures

cheers,

Donna

[Dissindat]

I am hoping so. I'm already happier than a pig in slop, another tranche of big foreclosures would be totally awesome!!

[donna]

I guess personally it presents a good situation for you Dissindat - not sure it's particularly 'cool' to say "its totally awesome" however when so many people are being forced from their homes due to losing their job!

Here in NZ we get an unemployment benefit that lasts till you find a job and for that would be enough for some to keep to their homes - not like in the US where you get just 3 months benefit and after that you're on your own. I feel for the families that are in this situation - no job, no home and I read about the tent cities too - where people are having to move into tents as they have no where else to go.

It's other countries too - in Spain there's an area the size of a city that's become a ghost town due to foreclosures.

Therefore showing a bit compassion wouldn't go a miss when their loss is obviously your gain Dissindat.

cheers,

Donna

[Dissindat]

You obviously know very little about the US Donna, (and investing in general if you put the responsibility for a nations issues on an individual investor). Peoples greed causes them to lose houses, something I am not responsible for. I have also helped over 250 families into their own homes in the last 3 years. So thanks for the judgment attempt but it doesn't wash with me.

Your info about assistance for the poor is also completely wrong. Once you get Section 8 you can get government assistance for your entire life. In fact we have a problem here in the US now with multigenerational welfare. The next generation aspires to food stamps and section 8 vouchers like it's a career.

[donna]

Great reply it shows the compassion you have Dissindat - and without the reply - your earlier post most definitely could have been taken as 'just another greedy investor' comment.

cheers,

Donna

[mattinvestor]

how do you finance a US property when you live in Aus or NZ???

Is it a US-based finance institution?

[Dissindat]

There are some Foreign national products available in the US, but I live here so can get bank money/hard money without excess points.

[Maccachic]

What I can't understand is the investors are on here stating what good returns they are gettting, so why then can't people afford their mortgagaes when rent is higher than the nmortgage reapyements? Surely it is these home owners who end up renting? Doesn't seem sustainable to me.

[Dissindat]

Once their credit is impaired it takes years to clean up. In the meantime they have to live somewhere. Most of us don't understand that having credit on the plasma, the car, the house and a dozen maxed out credit cards is unwise :-).

[Orkibi]

how do you finance a US property when you live in Aus or NZ???

Is it a US-based finance institution?

There some asset lenders which deal with "Hard Money", they will usually land up to 60% LVR