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saiine.
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March 6, 2011 at 7:34 AM #674871March 6, 2011 at 9:57 AM #673763
UCGal
ParticipantNormally I stay out of the pissing match between sdr and bg. You guys obviously abhor each other and continuously bait each other.
But… I have to address this denial by sdr…
[quote=sdrealtor]Who said anything about a deserved dream home? Even a modest home they would not qualify under your program. BTW, most of their debt is not Sallie Mae but rather much higher rate debt.
[/quote]in reply to BG…
Here’ what sdr previously stated – bolds are mine.
[quote=sdrealtor]I’ll admit to my share of arrogance but IMO the ultimate arrogance is someone trying to dictate how others should live their lives. I am not advocating based upon occupation but rather income plain and simple. Current income, expected stability of income and realistic potential of future income growth.
You gave a laundry list of what-if-s and the answer could and more likely is not relevant to each and every one of them in most cases. Many of these people I know were not born with silver spoons in their mouths. One of my friend’s father was a barber. Under your opinions you would have sent him to trade school. He went to community college, transferred to a state school, got into an Ivy League medical school, then residencies/fellowships at the top instuations in the country and to this day lives relatively modestly. He has had to buy into a partnership, pay off several hundred K in debt on his education and raise a young family. He’s about 40 now and under your model still would be unable to buy a home despite earning about $500K per year. He has none of the issues you listed and has busted his butt to get where he is which is at the top of his highly specialized medical specialty. He deserves a good quality of life, no make that a great quality of life and no one will convince me otherwise. Just to be clear, I know plenty of folks on the other end of the scale also and they deserve to live their lives on their own terms also. I just dont beleive someone like you should be dictating the terms for them.
As for the comment that ..I cant help it if my week beats your year (BTW, its one of my favorite Lou Reed quotes)… well I wasnt talking about income.[/quote]
sdr – you brought up your friend “deserving” to qualify for a loan based entirely on income, without consideration of downpayment or debt.
Your friends and clients are always exceptional, fabulous and wonderful. We’re all happy for you. But if I were underwriting – I’d still require 20% down, and debt ratio’s below a certain threshold. If the income is high enough – the debt ratio’s aren’t a problem.
None of us can predict the future. BG’s family may do better than your friends if healthcare industry reform happens and doctors stop making as much. Since bg’s kids have no student loans. I managed to graduate without student loans and am hoping to offer my kids the same opportunity. That doesn’t set a glass ceiling for them. So save the snark.
I enjoy your posts, sdr. But please… at least pretend to be one of the regular folks, despite your fabulousness.
And bg – stop taking his bait. It goes both ways. When you get into a battle of egos with him – it always ends ugly.
If you guys were my children I’d put you both in timeout.
March 6, 2011 at 9:57 AM #673821ParticipantNormally I stay out of the pissing match between sdr and bg. You guys obviously abhor each other and continuously bait each other.
But… I have to address this denial by sdr…
[quote=sdrealtor]Who said anything about a deserved dream home? Even a modest home they would not qualify under your program. BTW, most of their debt is not Sallie Mae but rather much higher rate debt.
[/quote]in reply to BG…
Here’ what sdr previously stated – bolds are mine.
[quote=sdrealtor]I’ll admit to my share of arrogance but IMO the ultimate arrogance is someone trying to dictate how others should live their lives. I am not advocating based upon occupation but rather income plain and simple. Current income, expected stability of income and realistic potential of future income growth.
You gave a laundry list of what-if-s and the answer could and more likely is not relevant to each and every one of them in most cases. Many of these people I know were not born with silver spoons in their mouths. One of my friend’s father was a barber. Under your opinions you would have sent him to trade school. He went to community college, transferred to a state school, got into an Ivy League medical school, then residencies/fellowships at the top instuations in the country and to this day lives relatively modestly. He has had to buy into a partnership, pay off several hundred K in debt on his education and raise a young family. He’s about 40 now and under your model still would be unable to buy a home despite earning about $500K per year. He has none of the issues you listed and has busted his butt to get where he is which is at the top of his highly specialized medical specialty. He deserves a good quality of life, no make that a great quality of life and no one will convince me otherwise. Just to be clear, I know plenty of folks on the other end of the scale also and they deserve to live their lives on their own terms also. I just dont beleive someone like you should be dictating the terms for them.
As for the comment that ..I cant help it if my week beats your year (BTW, its one of my favorite Lou Reed quotes)… well I wasnt talking about income.[/quote]
sdr – you brought up your friend “deserving” to qualify for a loan based entirely on income, without consideration of downpayment or debt.
Your friends and clients are always exceptional, fabulous and wonderful. We’re all happy for you. But if I were underwriting – I’d still require 20% down, and debt ratio’s below a certain threshold. If the income is high enough – the debt ratio’s aren’t a problem.
None of us can predict the future. BG’s family may do better than your friends if healthcare industry reform happens and doctors stop making as much. Since bg’s kids have no student loans. I managed to graduate without student loans and am hoping to offer my kids the same opportunity. That doesn’t set a glass ceiling for them. So save the snark.
I enjoy your posts, sdr. But please… at least pretend to be one of the regular folks, despite your fabulousness.
And bg – stop taking his bait. It goes both ways. When you get into a battle of egos with him – it always ends ugly.
If you guys were my children I’d put you both in timeout.
March 6, 2011 at 9:57 AM #674432ParticipantNormally I stay out of the pissing match between sdr and bg. You guys obviously abhor each other and continuously bait each other.
But… I have to address this denial by sdr…
[quote=sdrealtor]Who said anything about a deserved dream home? Even a modest home they would not qualify under your program. BTW, most of their debt is not Sallie Mae but rather much higher rate debt.
[/quote]in reply to BG…
Here’ what sdr previously stated – bolds are mine.
[quote=sdrealtor]I’ll admit to my share of arrogance but IMO the ultimate arrogance is someone trying to dictate how others should live their lives. I am not advocating based upon occupation but rather income plain and simple. Current income, expected stability of income and realistic potential of future income growth.
You gave a laundry list of what-if-s and the answer could and more likely is not relevant to each and every one of them in most cases. Many of these people I know were not born with silver spoons in their mouths. One of my friend’s father was a barber. Under your opinions you would have sent him to trade school. He went to community college, transferred to a state school, got into an Ivy League medical school, then residencies/fellowships at the top instuations in the country and to this day lives relatively modestly. He has had to buy into a partnership, pay off several hundred K in debt on his education and raise a young family. He’s about 40 now and under your model still would be unable to buy a home despite earning about $500K per year. He has none of the issues you listed and has busted his butt to get where he is which is at the top of his highly specialized medical specialty. He deserves a good quality of life, no make that a great quality of life and no one will convince me otherwise. Just to be clear, I know plenty of folks on the other end of the scale also and they deserve to live their lives on their own terms also. I just dont beleive someone like you should be dictating the terms for them.
As for the comment that ..I cant help it if my week beats your year (BTW, its one of my favorite Lou Reed quotes)… well I wasnt talking about income.[/quote]
sdr – you brought up your friend “deserving” to qualify for a loan based entirely on income, without consideration of downpayment or debt.
Your friends and clients are always exceptional, fabulous and wonderful. We’re all happy for you. But if I were underwriting – I’d still require 20% down, and debt ratio’s below a certain threshold. If the income is high enough – the debt ratio’s aren’t a problem.
None of us can predict the future. BG’s family may do better than your friends if healthcare industry reform happens and doctors stop making as much. Since bg’s kids have no student loans. I managed to graduate without student loans and am hoping to offer my kids the same opportunity. That doesn’t set a glass ceiling for them. So save the snark.
I enjoy your posts, sdr. But please… at least pretend to be one of the regular folks, despite your fabulousness.
And bg – stop taking his bait. It goes both ways. When you get into a battle of egos with him – it always ends ugly.
If you guys were my children I’d put you both in timeout.
March 6, 2011 at 9:57 AM #674569ParticipantNormally I stay out of the pissing match between sdr and bg. You guys obviously abhor each other and continuously bait each other.
But… I have to address this denial by sdr…
[quote=sdrealtor]Who said anything about a deserved dream home? Even a modest home they would not qualify under your program. BTW, most of their debt is not Sallie Mae but rather much higher rate debt.
[/quote]in reply to BG…
Here’ what sdr previously stated – bolds are mine.
[quote=sdrealtor]I’ll admit to my share of arrogance but IMO the ultimate arrogance is someone trying to dictate how others should live their lives. I am not advocating based upon occupation but rather income plain and simple. Current income, expected stability of income and realistic potential of future income growth.
You gave a laundry list of what-if-s and the answer could and more likely is not relevant to each and every one of them in most cases. Many of these people I know were not born with silver spoons in their mouths. One of my friend’s father was a barber. Under your opinions you would have sent him to trade school. He went to community college, transferred to a state school, got into an Ivy League medical school, then residencies/fellowships at the top instuations in the country and to this day lives relatively modestly. He has had to buy into a partnership, pay off several hundred K in debt on his education and raise a young family. He’s about 40 now and under your model still would be unable to buy a home despite earning about $500K per year. He has none of the issues you listed and has busted his butt to get where he is which is at the top of his highly specialized medical specialty. He deserves a good quality of life, no make that a great quality of life and no one will convince me otherwise. Just to be clear, I know plenty of folks on the other end of the scale also and they deserve to live their lives on their own terms also. I just dont beleive someone like you should be dictating the terms for them.
As for the comment that ..I cant help it if my week beats your year (BTW, its one of my favorite Lou Reed quotes)… well I wasnt talking about income.[/quote]
sdr – you brought up your friend “deserving” to qualify for a loan based entirely on income, without consideration of downpayment or debt.
Your friends and clients are always exceptional, fabulous and wonderful. We’re all happy for you. But if I were underwriting – I’d still require 20% down, and debt ratio’s below a certain threshold. If the income is high enough – the debt ratio’s aren’t a problem.
None of us can predict the future. BG’s family may do better than your friends if healthcare industry reform happens and doctors stop making as much. Since bg’s kids have no student loans. I managed to graduate without student loans and am hoping to offer my kids the same opportunity. That doesn’t set a glass ceiling for them. So save the snark.
I enjoy your posts, sdr. But please… at least pretend to be one of the regular folks, despite your fabulousness.
And bg – stop taking his bait. It goes both ways. When you get into a battle of egos with him – it always ends ugly.
If you guys were my children I’d put you both in timeout.
March 6, 2011 at 9:57 AM #674916ParticipantNormally I stay out of the pissing match between sdr and bg. You guys obviously abhor each other and continuously bait each other.
But… I have to address this denial by sdr…
[quote=sdrealtor]Who said anything about a deserved dream home? Even a modest home they would not qualify under your program. BTW, most of their debt is not Sallie Mae but rather much higher rate debt.
[/quote]in reply to BG…
Here’ what sdr previously stated – bolds are mine.
[quote=sdrealtor]I’ll admit to my share of arrogance but IMO the ultimate arrogance is someone trying to dictate how others should live their lives. I am not advocating based upon occupation but rather income plain and simple. Current income, expected stability of income and realistic potential of future income growth.
You gave a laundry list of what-if-s and the answer could and more likely is not relevant to each and every one of them in most cases. Many of these people I know were not born with silver spoons in their mouths. One of my friend’s father was a barber. Under your opinions you would have sent him to trade school. He went to community college, transferred to a state school, got into an Ivy League medical school, then residencies/fellowships at the top instuations in the country and to this day lives relatively modestly. He has had to buy into a partnership, pay off several hundred K in debt on his education and raise a young family. He’s about 40 now and under your model still would be unable to buy a home despite earning about $500K per year. He has none of the issues you listed and has busted his butt to get where he is which is at the top of his highly specialized medical specialty. He deserves a good quality of life, no make that a great quality of life and no one will convince me otherwise. Just to be clear, I know plenty of folks on the other end of the scale also and they deserve to live their lives on their own terms also. I just dont beleive someone like you should be dictating the terms for them.
As for the comment that ..I cant help it if my week beats your year (BTW, its one of my favorite Lou Reed quotes)… well I wasnt talking about income.[/quote]
sdr – you brought up your friend “deserving” to qualify for a loan based entirely on income, without consideration of downpayment or debt.
Your friends and clients are always exceptional, fabulous and wonderful. We’re all happy for you. But if I were underwriting – I’d still require 20% down, and debt ratio’s below a certain threshold. If the income is high enough – the debt ratio’s aren’t a problem.
None of us can predict the future. BG’s family may do better than your friends if healthcare industry reform happens and doctors stop making as much. Since bg’s kids have no student loans. I managed to graduate without student loans and am hoping to offer my kids the same opportunity. That doesn’t set a glass ceiling for them. So save the snark.
I enjoy your posts, sdr. But please… at least pretend to be one of the regular folks, despite your fabulousness.
And bg – stop taking his bait. It goes both ways. When you get into a battle of egos with him – it always ends ugly.
If you guys were my children I’d put you both in timeout.
March 6, 2011 at 10:18 AM #673773jpinpb
ParticipantYAY, UCGal!
Yes, sdr. Sorry this world consists of people less prestigious than you and your entourage. Perhaps you can tone it down for those of us less elite. Makes it easier for us to bask in your glory, rather than burn from it.
March 6, 2011 at 10:18 AM #673831ParticipantYAY, UCGal!
Yes, sdr. Sorry this world consists of people less prestigious than you and your entourage. Perhaps you can tone it down for those of us less elite. Makes it easier for us to bask in your glory, rather than burn from it.
March 6, 2011 at 10:18 AM #674442ParticipantYAY, UCGal!
Yes, sdr. Sorry this world consists of people less prestigious than you and your entourage. Perhaps you can tone it down for those of us less elite. Makes it easier for us to bask in your glory, rather than burn from it.
March 6, 2011 at 10:18 AM #674579ParticipantYAY, UCGal!
Yes, sdr. Sorry this world consists of people less prestigious than you and your entourage. Perhaps you can tone it down for those of us less elite. Makes it easier for us to bask in your glory, rather than burn from it.
March 6, 2011 at 10:18 AM #674926ParticipantYAY, UCGal!
Yes, sdr. Sorry this world consists of people less prestigious than you and your entourage. Perhaps you can tone it down for those of us less elite. Makes it easier for us to bask in your glory, rather than burn from it.
March 6, 2011 at 10:49 AM #673798ljinvestor
ParticipantIts been brought up before, but it is pointless to complain about lender UW standards being to demanding.
Anyone loaning 80%-90% of an appraised value should be able to look closely under the hood. Personally I would UW the same for 50% ltv as I would for 90% ltv.
March 6, 2011 at 10:49 AM #673856ParticipantIts been brought up before, but it is pointless to complain about lender UW standards being to demanding.
Anyone loaning 80%-90% of an appraised value should be able to look closely under the hood. Personally I would UW the same for 50% ltv as I would for 90% ltv.
March 6, 2011 at 10:49 AM #674467ParticipantIts been brought up before, but it is pointless to complain about lender UW standards being to demanding.
Anyone loaning 80%-90% of an appraised value should be able to look closely under the hood. Personally I would UW the same for 50% ltv as I would for 90% ltv.
March 6, 2011 at 10:49 AM #674604ParticipantIts been brought up before, but it is pointless to complain about lender UW standards being to demanding.
Anyone loaning 80%-90% of an appraised value should be able to look closely under the hood. Personally I would UW the same for 50% ltv as I would for 90% ltv.
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