[quote=CA renter][quote=jpinpb][quote=patb]
we had 115% LTV or more in 05 and 06.
Builder credits for downpayment was the trick.[/quote]
Sadly, that is a good point that I knew about and forgot to mention. True that. Thanks for the reminder. It’s all been tricks.[/quote]
Don’t forget the seller “credits” to cover closing costs and other items, and now with the $8,000 tax credit, and 3.5% FHA loans…we are absolutely back to 100%++ LTVs. That’s why the market’s so hot, IMHO.[/quote]
A whole bunch more people will get burned again.
If they would let prices revert, write down mortgages, and
then clean up the damage we’d be fine. Instead Bush sent FHA and
Fannie in to pour water into the leaking container.
