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Viewing 15 posts - 106 through 120 (of 146 total)
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  • March 17, 2009 at 1:32 PM #368628
    Coronita
    Participant

    [quote=peterb]It’s kind of funny, but I was talking to a couple of friends who’ve never had much money and always wanted a house. Now that there’s 3% down and a much higher limit, they both are going to buy a house. When I told them of the horrible fundementals, they both said, “At 3% down, if the crap hits the fan, we just stay in it until they evict us.”

    So here’s the future speaking. I give them 18 months, tops.[/quote]

    It only works until china decides to stop lending us money.

    March 17, 2009 at 1:32 PM #368025
    SD Realtor
    Participant

    My head spun a little with your reference. Again, whatever loan balances either or both of them have, will be used to compute the ratios. However it is only the credit score of the person getting the loan that is of importance. All the refinances you mentioned don’t matter except the most recent one assuming that each subsequent loan paid off the predecessor right?

    IONE may have better insight.

    March 17, 2009 at 1:32 PM #368314
    SD Realtor
    Participant

    My head spun a little with your reference. Again, whatever loan balances either or both of them have, will be used to compute the ratios. However it is only the credit score of the person getting the loan that is of importance. All the refinances you mentioned don’t matter except the most recent one assuming that each subsequent loan paid off the predecessor right?

    IONE may have better insight.

    March 17, 2009 at 1:32 PM #368481
    SD Realtor
    Participant

    My head spun a little with your reference. Again, whatever loan balances either or both of them have, will be used to compute the ratios. However it is only the credit score of the person getting the loan that is of importance. All the refinances you mentioned don’t matter except the most recent one assuming that each subsequent loan paid off the predecessor right?

    IONE may have better insight.

    March 17, 2009 at 1:32 PM #368519
    SD Realtor
    Participant

    My head spun a little with your reference. Again, whatever loan balances either or both of them have, will be used to compute the ratios. However it is only the credit score of the person getting the loan that is of importance. All the refinances you mentioned don’t matter except the most recent one assuming that each subsequent loan paid off the predecessor right?

    IONE may have better insight.

    March 17, 2009 at 1:32 PM #368633
    SD Realtor
    Participant

    My head spun a little with your reference. Again, whatever loan balances either or both of them have, will be used to compute the ratios. However it is only the credit score of the person getting the loan that is of importance. All the refinances you mentioned don’t matter except the most recent one assuming that each subsequent loan paid off the predecessor right?

    IONE may have better insight.

    March 17, 2009 at 1:46 PM #368040
    CBad
    Participant

    Unbelievable. I’m understanding people less and less these days…

    March 17, 2009 at 1:46 PM #368329
    CBad
    Participant

    Unbelievable. I’m understanding people less and less these days…

    March 17, 2009 at 1:46 PM #368496
    CBad
    Participant

    Unbelievable. I’m understanding people less and less these days…

    March 17, 2009 at 1:46 PM #368534
    CBad
    Participant

    Unbelievable. I’m understanding people less and less these days…

    March 17, 2009 at 1:46 PM #368648
    CBad
    Participant

    Unbelievable. I’m understanding people less and less these days…

    March 17, 2009 at 2:10 PM #368085
    IONEGARM
    Participant

    [quote=SD Realtor]Not a bad idea IONE, I like that as well. Is the double evaluation a lender overlay or is it actually the FHA? [/quote]

    FHA, I know its for cash outs over 85% (new this year), part of me wants to says it for conforming jumbo purchases as well but my memory is fuzzy.

    March 17, 2009 at 2:10 PM #368374
    IONEGARM
    Participant

    [quote=SD Realtor]Not a bad idea IONE, I like that as well. Is the double evaluation a lender overlay or is it actually the FHA? [/quote]

    FHA, I know its for cash outs over 85% (new this year), part of me wants to says it for conforming jumbo purchases as well but my memory is fuzzy.

    March 17, 2009 at 2:10 PM #368541
    IONEGARM
    Participant

    [quote=SD Realtor]Not a bad idea IONE, I like that as well. Is the double evaluation a lender overlay or is it actually the FHA? [/quote]

    FHA, I know its for cash outs over 85% (new this year), part of me wants to says it for conforming jumbo purchases as well but my memory is fuzzy.

    March 17, 2009 at 2:10 PM #368579
    IONEGARM
    Participant

    [quote=SD Realtor]Not a bad idea IONE, I like that as well. Is the double evaluation a lender overlay or is it actually the FHA? [/quote]

    FHA, I know its for cash outs over 85% (new this year), part of me wants to says it for conforming jumbo purchases as well but my memory is fuzzy.

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