Home › Forums › Closed Forums › Buying and Selling RE › additional 0.75% for condos?
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4plexowner.
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April 27, 2009 at 10:50 AM #388399April 27, 2009 at 11:07 AM #388172
Anonymous
GuestI wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
April 27, 2009 at 11:07 AM #388438GuestI wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
April 27, 2009 at 11:07 AM #388688GuestI wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
April 27, 2009 at 11:07 AM #388636GuestI wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
April 27, 2009 at 11:07 AM #388827GuestI wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
April 27, 2009 at 11:37 AM #388853
Rich ToscanoKeymaster[quote=pri_dk]I wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
[/quote]pri-dk — That is exactly what I wonder too. Many people don’t wait for their resets to bail if they are way underwater.
One exception could be the option ARMs, because they have such low min pmts that maybe people would stay til the bitter end.
Another thing about this chart: I suspect that SD’s version would be shifted to the left… SD was ahead of the curve in all aspects of the housing bubble.
Just some thoughts…
Rich
April 27, 2009 at 11:37 AM #388714Rich ToscanoKeymaster[quote=pri_dk]I wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
[/quote]pri-dk — That is exactly what I wonder too. Many people don’t wait for their resets to bail if they are way underwater.
One exception could be the option ARMs, because they have such low min pmts that maybe people would stay til the bitter end.
Another thing about this chart: I suspect that SD’s version would be shifted to the left… SD was ahead of the curve in all aspects of the housing bubble.
Just some thoughts…
Rich
April 27, 2009 at 11:37 AM #388464Rich ToscanoKeymaster[quote=pri_dk]I wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
[/quote]pri-dk — That is exactly what I wonder too. Many people don’t wait for their resets to bail if they are way underwater.
One exception could be the option ARMs, because they have such low min pmts that maybe people would stay til the bitter end.
Another thing about this chart: I suspect that SD’s version would be shifted to the left… SD was ahead of the curve in all aspects of the housing bubble.
Just some thoughts…
Rich
April 27, 2009 at 11:37 AM #388663Rich ToscanoKeymaster[quote=pri_dk]I wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
[/quote]pri-dk — That is exactly what I wonder too. Many people don’t wait for their resets to bail if they are way underwater.
One exception could be the option ARMs, because they have such low min pmts that maybe people would stay til the bitter end.
Another thing about this chart: I suspect that SD’s version would be shifted to the left… SD was ahead of the curve in all aspects of the housing bubble.
Just some thoughts…
Rich
April 27, 2009 at 11:37 AM #388201Rich ToscanoKeymaster[quote=pri_dk]I wonder how many of those pending resets still exist? Some portion of the second “peak” in the Credit Suisse chart has surely been eroded by now.
If anyone is still holding an ARM these days, they can just ask the lender for a modification to a fixed-rate and they have a good chance at getting it.
It would be interesting to see updated chart, if anyone has made one.
[/quote]pri-dk — That is exactly what I wonder too. Many people don’t wait for their resets to bail if they are way underwater.
One exception could be the option ARMs, because they have such low min pmts that maybe people would stay til the bitter end.
Another thing about this chart: I suspect that SD’s version would be shifted to the left… SD was ahead of the curve in all aspects of the housing bubble.
Just some thoughts…
Rich
April 27, 2009 at 3:07 PM #388597HLS
ParticipantThe .75% is a hit to pricing, not to the interest rate of your loan. At origination, you can choose to either pay the .75% of the loan amount up front OR accept an interest rate that is about .25% higher for the life of the loan.
You need 20% down to avoid mortgage insurance.
You need 25% down on a condo to avoid the pricing .75 hit.
It also depends on your credit score. If your mid score is below 740 you will have additional pricing hits…. HLSApril 27, 2009 at 3:07 PM #388795ParticipantThe .75% is a hit to pricing, not to the interest rate of your loan. At origination, you can choose to either pay the .75% of the loan amount up front OR accept an interest rate that is about .25% higher for the life of the loan.
You need 20% down to avoid mortgage insurance.
You need 25% down on a condo to avoid the pricing .75 hit.
It also depends on your credit score. If your mid score is below 740 you will have additional pricing hits…. HLSApril 27, 2009 at 3:07 PM #388332ParticipantThe .75% is a hit to pricing, not to the interest rate of your loan. At origination, you can choose to either pay the .75% of the loan amount up front OR accept an interest rate that is about .25% higher for the life of the loan.
You need 20% down to avoid mortgage insurance.
You need 25% down on a condo to avoid the pricing .75 hit.
It also depends on your credit score. If your mid score is below 740 you will have additional pricing hits…. HLSApril 27, 2009 at 3:07 PM #388846ParticipantThe .75% is a hit to pricing, not to the interest rate of your loan. At origination, you can choose to either pay the .75% of the loan amount up front OR accept an interest rate that is about .25% higher for the life of the loan.
You need 20% down to avoid mortgage insurance.
You need 25% down on a condo to avoid the pricing .75 hit.
It also depends on your credit score. If your mid score is below 740 you will have additional pricing hits…. HLS -
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