Alt A Not such a problem?

[ibjames]

Why are people looking at the end of this year as a time that we could see a nice dip in prices in SD? Is there a new regulation starting? Just because winter traffic usually slows? Or is there a large amount of resets going to happen?

[peterb]

See Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.

I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.

[peterb]

See Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.

I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.

[peterb]

See Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.

I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.

[peterb]

See Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.

I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.

[peterb]

See Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.

I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.

[(former)FormerSanDiegan]

But they may be countered by the tax refief act.

Which tax relief act ?

[(former)FormerSanDiegan]

But they may be countered by the tax refief act.

Which tax relief act ?

[(former)FormerSanDiegan]

But they may be countered by the tax refief act.

Which tax relief act ?

[(former)FormerSanDiegan]

But they may be countered by the tax refief act.

Which tax relief act ?

[(former)FormerSanDiegan]

But they may be countered by the tax refief act.

Which tax relief act ?

[PadreBrian]

The stats I have seen only show less than 20% of the alt-a’s being option loans. So a good 80% could never go negative.

BUT, that only buys them a year or 2 at most. They will have to refinance either through the new Oct 1st FHA bail-out loans, or through loan re-negotiations.

[PadreBrian]

The stats I have seen only show less than 20% of the alt-a’s being option loans. So a good 80% could never go negative.

BUT, that only buys them a year or 2 at most. They will have to refinance either through the new Oct 1st FHA bail-out loans, or through loan re-negotiations.

[PadreBrian]

The stats I have seen only show less than 20% of the alt-a’s being option loans. So a good 80% could never go negative.

BUT, that only buys them a year or 2 at most. They will have to refinance either through the new Oct 1st FHA bail-out loans, or through loan re-negotiations.

[PadreBrian]

The stats I have seen only show less than 20% of the alt-a’s being option loans. So a good 80% could never go negative.

BUT, that only buys them a year or 2 at most. They will have to refinance either through the new Oct 1st FHA bail-out loans, or through loan re-negotiations.

[Author]

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