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[gael]

Does anyone know of a lender who goes up to $700,000 no down, 100% finance, stated income and verified assets, 700 credit score?

[SD Realtor]

I am sure HLS can help you out. That seems like an awful lot of money for 100% financing. To each his own though.

SD Realtor

[SD Realtor]

I am sure HLS can help you out. That seems like an awful lot of money for 100% financing. To each his own though.

SD Realtor

[gael]

what is HLS

[gael]

what is HLS

[lendingbubblecontinues]

hopefully you will be unable to get such a stupid loan

[lendingbubblecontinues]

hopefully you will be unable to get such a stupid loan

[temeculaguy]

That’s a screen name for one of the regular posters here who is in the finance biz and is frequently called on for expertise, give it a day or two and he will be able to give you the answer when he sees this.

On a side note, what gives? 700k, 100%, stated. I hope you have done your homework and have the income or some lottery payment coming, that move is so 2005. That’s how we got here in the first place. I feel like I just walked by some a town sqaure in Germany and there is a short guy with a mustache giving an angry speech to a crowd of people thinking “oh god, not this again.”

The rate is going to blow, jumbo’s just shot up and the market is about as interested in loaning money for a loan like that as it is loaning money for people to take to casinos, they are fairly certain they aren’t going to get it back.

[temeculaguy]

That’s a screen name for one of the regular posters here who is in the finance biz and is frequently called on for expertise, give it a day or two and he will be able to give you the answer when he sees this.

On a side note, what gives? 700k, 100%, stated. I hope you have done your homework and have the income or some lottery payment coming, that move is so 2005. That’s how we got here in the first place. I feel like I just walked by some a town sqaure in Germany and there is a short guy with a mustache giving an angry speech to a crowd of people thinking “oh god, not this again.”

The rate is going to blow, jumbo’s just shot up and the market is about as interested in loaning money for a loan like that as it is loaning money for people to take to casinos, they are fairly certain they aren’t going to get it back.

[SD Realtor]

tg you crack me up…

SD Realtor

[SD Realtor]

tg you crack me up…

SD Realtor

[bsrsharma]

As of now, that kind of transaction is about a week in the past. Other than via time travel, it seems improbable.

[bsrsharma]

As of now, that kind of transaction is about a week in the past. Other than via time travel, it seems improbable.

[Arraya]

3 months ago that would not have been a problem. Though you will be hard pressed to find a lender today that can do it. Stated “self employed” has a better shot than stated “wage earner”. Also, the assets would have to be significant.

That is the type of loan that many lenders put a freeze on as of friday. It falls into the Alt-a category. Underwriting guidelines on these types of loans are changing by the hour.
.

Bottom line is it was a common loan up until a few months ago. However with evey new day and another hedge fund explosion on wall street the number of lenders that would take a chance with that loan is shrinking.

[Arraya]

3 months ago that would not have been a problem. Though you will be hard pressed to find a lender today that can do it. Stated “self employed” has a better shot than stated “wage earner”. Also, the assets would have to be significant.

That is the type of loan that many lenders put a freeze on as of friday. It falls into the Alt-a category. Underwriting guidelines on these types of loans are changing by the hour.
.

Bottom line is it was a common loan up until a few months ago. However with evey new day and another hedge fund explosion on wall street the number of lenders that would take a chance with that loan is shrinking.

[Author]

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