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March 17, 2009 at 12:11 PM #368464March 17, 2009 at 12:15 PM #367862
Diego Mamani
ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
March 17, 2009 at 12:15 PM #368154ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
March 17, 2009 at 12:15 PM #368322ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
March 17, 2009 at 12:15 PM #368358ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
March 17, 2009 at 12:15 PM #368473ParticipantMaybe they’re not legally married?
sdr, what do you think of FHA loans in general? I know in the Inland Empire often the seller gives the 3% to buyers as a gift. This down payment, all closing costs, etc., are paid by the seller but added to the purchase price. The result is: the buyers have negative equity from day one.
These FHA-guaranteed loans are a huge risk for the taxpayer, who ultimately pays the bills. And these underwater FBs are very likely to default, so these properties will be back as REOs or short sales, further reducing prices. A vicious circle, encouraged and paid for by Uncle Sam. With my tax dollars!
Diego “Threadkiller” Mamani
March 17, 2009 at 12:20 PM #367883peterb
ParticipantI think the govt’s intervention is causing a bit of a sucker rally in RE. You cant make this stuff up. Interesting to see how much momentum it gets through out the “buying season” of the RE market we’re headed into.
March 17, 2009 at 12:20 PM #368174ParticipantI think the govt’s intervention is causing a bit of a sucker rally in RE. You cant make this stuff up. Interesting to see how much momentum it gets through out the “buying season” of the RE market we’re headed into.
March 17, 2009 at 12:20 PM #368342ParticipantI think the govt’s intervention is causing a bit of a sucker rally in RE. You cant make this stuff up. Interesting to see how much momentum it gets through out the “buying season” of the RE market we’re headed into.
March 17, 2009 at 12:20 PM #368378ParticipantI think the govt’s intervention is causing a bit of a sucker rally in RE. You cant make this stuff up. Interesting to see how much momentum it gets through out the “buying season” of the RE market we’re headed into.
March 17, 2009 at 12:20 PM #368493ParticipantI think the govt’s intervention is causing a bit of a sucker rally in RE. You cant make this stuff up. Interesting to see how much momentum it gets through out the “buying season” of the RE market we’re headed into.
March 17, 2009 at 12:21 PM #367888IONEGARM
Participant[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.
I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.
Thanks government![/quote]
Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.
I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.
March 17, 2009 at 12:21 PM #368179Participant[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.
I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.
Thanks government![/quote]
Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.
I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.
March 17, 2009 at 12:21 PM #368347Participant[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.
I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.
Thanks government![/quote]
Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.
I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.
March 17, 2009 at 12:21 PM #368384Participant[quote=SD Realtor]I will have an answer on the FHA guidelines for spouses in a few moments.
I can say this, right now the government is pushing very hard for FHA approval on purchases. Pushing… very very hard.
Thanks government![/quote]
Most FHA lenders are adding in a 620 min FICO overlay to their FHA loan qualification.
I don’t think the government is pushing that hard. FHA is understaffed and now represents a huge chunk of the market.
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