Another subprime lender down? (rumor)

[TheBreeze]

Is MLN coming back from the dead?

http://forum.brokeroutpost.com/loans/forum/2/84586.htm

Maybe the easy money will be around for a while longer yet.

[DaisyDuke]

I am still waiting. My agent spoke with the lending officer yesterday and they said that all conditions were met for the loan, except one. The buyer just needs to bring in a bank statement. So I wait until Tuesday. I can’t believe this is going to (maybe) happen with all the subprime lenders starting to close their doors.

Learning what I have learned (from this site and others) since listing my property, I can’t help but feel guilty with this sale. I feel like I am prolonging the bubble frenzie that needs to come to and end sooner and perhaps that I am taking advantage of a buyer who doesn’t know better than to not buy right now. BUT, on the other hand, if this goes through and I sit out patiently for up to a year I believe, I will have a healthy (not greedy) downpayment for my next home.

My first Mantra has always been ‘Just keep Swimming’ (Dori from the movie Nemo), but these days I am saying “Que sera sera” — If all fails though, I’m going on a vacation to Hawaii with lots of tall cocktails!

FYI . . . More info on subprime lenders taking a dive. http://www.rgemonitor.com/blog/roubini/172409

[PerryChase]

“Que sera sera.” Daisy, I love your easy-going attitude as well as your realistic outlook. 🙂

[TheBreeze]

Don’t feel guilty, Daisy. No one knows for sure what is going to happen with housing prices. It seems like a good bet that they are going to keep going down, but something unforeseen could intervene to drive prices up again. For example, the government could step in and bail FBs out or start providing low interest rate loans to first-time buyers or something like that.

No one ever knows for sure what is going to happen, you can only try to gather and process as much information as possible in an effort to guage the probabilities.

[DaisyDuke]

You are absolutely right, no one knows. That is one of the reasons why I posted the lead “Pulling a Rabbit out of the Hat” — I’m just wondering who will come to the rescue, but I’m not seeing that in the cards and I wanted to know what you intellectuals knew/felt about that. Hmmmm, do you think the NAR’s new 40 Million Dollar advertising campaign they allegedly began on 1/15/07 will do it?

I dunno, this almost feels like I’m playing a game of craps and betting on the “don’t pass” line. I love craps, but I never would play craps with something on the line as big as my house. But I think that is just what I’ve done. That makes me a speculator too, no?

[DaisyDuke]

Fremont announced today . . . .

http://www.calculatedrisk.blogspot.com/

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