A question about foreclosures in the 90s

[Ex-SD]

court: HLS is a mortgage broker. He knows what he’s talking about.
What you’re referring to is the overall credit market being tight. That doesn’t mean that customers with an excellent credit score are going to have any difficulty getting a loan at this time.

[SD Realtor]

court it is trivially easy to get loans at the present time. I just had a 3% VA AND a 3% FHA down escrow closein the past 3 weeks. As everyone wants to crow about how impossible it is to get financing, in reality that is simply not the case.

SD Realtor

[SD Realtor]

court it is trivially easy to get loans at the present time. I just had a 3% VA AND a 3% FHA down escrow closein the past 3 weeks. As everyone wants to crow about how impossible it is to get financing, in reality that is simply not the case.

SD Realtor

[SD Realtor]

court it is trivially easy to get loans at the present time. I just had a 3% VA AND a 3% FHA down escrow closein the past 3 weeks. As everyone wants to crow about how impossible it is to get financing, in reality that is simply not the case.

SD Realtor

[SD Realtor]

court it is trivially easy to get loans at the present time. I just had a 3% VA AND a 3% FHA down escrow closein the past 3 weeks. As everyone wants to crow about how impossible it is to get financing, in reality that is simply not the case.

SD Realtor

[SD Realtor]

court it is trivially easy to get loans at the present time. I just had a 3% VA AND a 3% FHA down escrow closein the past 3 weeks. As everyone wants to crow about how impossible it is to get financing, in reality that is simply not the case.

SD Realtor

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[HLS]

Court,
If your “source” of enlightenment is “watching financial news” your view will be quite jaded, and your comments will be inaccurate, which is exactly what the intent of the administration is; mislead the sheeple.

“B.S.” Bernanke is the same guy that said 15 months ago that the subprime mess wouldn’t spill over into the general economy. The same guy that won’t stand up and do the right thing.
He believes that having the FED pump dollars into the economy would have fixed the 1930’s depression, so he’s trying it with the depression that started in 2007.

Instead of teaching one generation a lesson, he has decided to reward the most financially irresponsible generation in the history of this country and it may be at the expense of the next 3 generations.

Henry Paulson is ex-CEO of Goldman Sachs. He replaced Robert Rubin as Treasury Secretary.
24 months ago:
“This shaky economic legacy also makes Paulson’s possible appointment more challenging and hence more potentially dangerous than Rubin’s. He must rally citizens into believing their individual economic condition is better than it is. Plus, he needs to convince international investors that the dollar isn’t in free-fall, despite the abundance of American debt. That’s a lot harder than convincing a board of peers as chairman to compensate your fellow senior executives hundreds of millions of dollars.”

http://www.thenation.com/doc/20060619/prins

Contrary to what the uninformed want you to believe, inflation really is higher than 4%.. It’s skewed because benefits for millions of people are tied to the index, (which has been changed twice in recent history) the system is welshing on their promise of cost of living adjustments.

Lending standards have not tightened to any ridiculous unreasonable standards. They are simply back to how they were prior to 5-6 years ago.

Today, even with a 580 credit score, (which is far from the best of 800+) one can qualify for a FNMA/FHA loan with 0-3% down.. you just need income to verify. It’s not so crazy and it’s not unreasonable.

For a FNMA loan under $417K, they will allow you to spend up to 60% of your GROSS monthly income on monthly payments that show on your credit report, including PITI.

That’s hardly “difficult even for the best credit scores”

I don’t recommend that people stretch to 60%.
With higher credit scores, the programs effectively become stated income as income verification may not be required, however the program isn’t offered as such.

Credit scores are more crucial than ever today and most people haven’t got a clue how to raise or maintain their scores. Sometimes with very little money, people can raise their credit scores 50 to 100 points and save tens of thousands of dollars over the life of a loan.

The above are all FACTS. Anything similar to what you alreday know by watching financial news ??

To say that “getting loans is very difficult even for the best credit scores” is ABSOLUTE IGNORANT POPPYCOCK.

Perhaps I’m enlightened through experience.

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Author]

Posts