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peterb.
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October 22, 2008 at 10:53 PM #14267October 22, 2008 at 11:03 PM #291411
Daniel
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
October 22, 2008 at 11:03 PM #291729Daniel
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
October 22, 2008 at 11:03 PM #291762Daniel
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
October 22, 2008 at 11:03 PM #291768Daniel
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
October 22, 2008 at 11:03 PM #291806Daniel
ParticipantI’m afraid you might be right, SDR. What we get, in a nutshell, is folks lying on their mortgage application on the way up by overstating their income (in order to get into a house), and lying on their re-fi application on the way down by understating their income (in order to get a deep principal reduction).
And oh, yeah, I almost forgot: you and I will pay the difference.
October 22, 2008 at 11:55 PM #291421SD Realtor
ParticipantDaniel I couldn’t agree more. Another thing that also worries me, is that even though we see much more stringent underwriting guidelines today for new loans and “non bailout” refis, I am concerned that there will be just as much pressure in the other direction to approve these workouts. Maybe I am just paranoid… I hope so.
October 22, 2008 at 11:55 PM #291739SD Realtor
ParticipantDaniel I couldn’t agree more. Another thing that also worries me, is that even though we see much more stringent underwriting guidelines today for new loans and “non bailout” refis, I am concerned that there will be just as much pressure in the other direction to approve these workouts. Maybe I am just paranoid… I hope so.
October 22, 2008 at 11:55 PM #291772SD Realtor
ParticipantDaniel I couldn’t agree more. Another thing that also worries me, is that even though we see much more stringent underwriting guidelines today for new loans and “non bailout” refis, I am concerned that there will be just as much pressure in the other direction to approve these workouts. Maybe I am just paranoid… I hope so.
October 22, 2008 at 11:55 PM #291778SD Realtor
ParticipantDaniel I couldn’t agree more. Another thing that also worries me, is that even though we see much more stringent underwriting guidelines today for new loans and “non bailout” refis, I am concerned that there will be just as much pressure in the other direction to approve these workouts. Maybe I am just paranoid… I hope so.
October 22, 2008 at 11:55 PM #291816SD Realtor
ParticipantDaniel I couldn’t agree more. Another thing that also worries me, is that even though we see much more stringent underwriting guidelines today for new loans and “non bailout” refis, I am concerned that there will be just as much pressure in the other direction to approve these workouts. Maybe I am just paranoid… I hope so.
October 23, 2008 at 2:09 AM #291436djc
ParticipantSo, what should we do? Go buy something in La Costa and wait for our letter from Santa? I’d really prefer to get into something on the coast, HELOC, buy a BMW and Porsche, then need to be bailed out.
What’s the best way to position for this?
October 23, 2008 at 2:09 AM #291754djc
ParticipantSo, what should we do? Go buy something in La Costa and wait for our letter from Santa? I’d really prefer to get into something on the coast, HELOC, buy a BMW and Porsche, then need to be bailed out.
What’s the best way to position for this?
October 23, 2008 at 2:09 AM #291787djc
ParticipantSo, what should we do? Go buy something in La Costa and wait for our letter from Santa? I’d really prefer to get into something on the coast, HELOC, buy a BMW and Porsche, then need to be bailed out.
What’s the best way to position for this?
October 23, 2008 at 2:09 AM #291793djc
ParticipantSo, what should we do? Go buy something in La Costa and wait for our letter from Santa? I’d really prefer to get into something on the coast, HELOC, buy a BMW and Porsche, then need to be bailed out.
What’s the best way to position for this?
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