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  • June 25, 2009 at 5:57 PM #421073
    CA renter
    Participant

    This is definitely a principal reduction, and one would think that this would eliminate the availability of second mortgages and 80/20 loans as we go forward.

    We have seen a definite reduction in loan availability in these second mortgages, but it seems like some lenders are still willing to lend over 80%.

    I’d love to see 20-30% down payment requirements on all mortgages. Maybe someday the govt will get out of the mortgage business and we can see what **real** mortgage rates and terms look like.

    June 25, 2009 at 6:22 PM #420367
    SD Realtor
    Participant

    CA Renter I would love to see that to. Unfortunately we are actually trending in the other direction. In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.

    June 25, 2009 at 6:22 PM #420598
    SD Realtor
    Participant

    CA Renter I would love to see that to. Unfortunately we are actually trending in the other direction. In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.

    June 25, 2009 at 6:22 PM #420869
    SD Realtor
    Participant

    CA Renter I would love to see that to. Unfortunately we are actually trending in the other direction. In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.

    June 25, 2009 at 6:22 PM #420937
    SD Realtor
    Participant

    CA Renter I would love to see that to. Unfortunately we are actually trending in the other direction. In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.

    June 25, 2009 at 6:22 PM #421098
    SD Realtor
    Participant

    CA Renter I would love to see that to. Unfortunately we are actually trending in the other direction. In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.

    June 25, 2009 at 6:24 PM #420377
    jficquette
    Participant

    7%? Try 12%.

    John

    June 25, 2009 at 6:24 PM #420608
    jficquette
    Participant

    7%? Try 12%.

    John

    June 25, 2009 at 6:24 PM #420879
    jficquette
    Participant

    7%? Try 12%.

    John

    June 25, 2009 at 6:24 PM #420947
    jficquette
    Participant

    7%? Try 12%.

    John

    June 25, 2009 at 6:24 PM #421108
    jficquette
    Participant

    7%? Try 12%.

    John

    June 25, 2009 at 8:15 PM #420443
    Effective Demand
    Participant

    [quote=SD Realtor] In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.[/quote]

    While I agree that Barney Frank (or any politician) getting involved in underwriting standards is stupid. The issue itself is relatively minor regarding the vacancy factor of condos. The issues really affects new home builders more and they are using their muscle to get the people in their pockets to try and pressure Fannie/Freddie to switch their standards back.

    For the general population interest rates and down payment sizes are much more relevant.

    I’m also curious for the people offered deals on the 2nds if they had the money to take the deal.

    June 25, 2009 at 8:15 PM #420673
    Effective Demand
    Participant

    [quote=SD Realtor] In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.[/quote]

    While I agree that Barney Frank (or any politician) getting involved in underwriting standards is stupid. The issue itself is relatively minor regarding the vacancy factor of condos. The issues really affects new home builders more and they are using their muscle to get the people in their pockets to try and pressure Fannie/Freddie to switch their standards back.

    For the general population interest rates and down payment sizes are much more relevant.

    I’m also curious for the people offered deals on the 2nds if they had the money to take the deal.

    June 25, 2009 at 8:15 PM #420944
    Effective Demand
    Participant

    [quote=SD Realtor] In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.[/quote]

    While I agree that Barney Frank (or any politician) getting involved in underwriting standards is stupid. The issue itself is relatively minor regarding the vacancy factor of condos. The issues really affects new home builders more and they are using their muscle to get the people in their pockets to try and pressure Fannie/Freddie to switch their standards back.

    For the general population interest rates and down payment sizes are much more relevant.

    I’m also curious for the people offered deals on the 2nds if they had the money to take the deal.

    June 25, 2009 at 8:15 PM #421012
    Effective Demand
    Participant

    [quote=SD Realtor] In fact I was reading just yesterday that the herioc Barney Frank wants lenders to EASE lending requirements. Good thing we have guys like him in office.[/quote]

    While I agree that Barney Frank (or any politician) getting involved in underwriting standards is stupid. The issue itself is relatively minor regarding the vacancy factor of condos. The issues really affects new home builders more and they are using their muscle to get the people in their pockets to try and pressure Fannie/Freddie to switch their standards back.

    For the general population interest rates and down payment sizes are much more relevant.

    I’m also curious for the people offered deals on the 2nds if they had the money to take the deal.

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