Moving next door

[SD Realtor]

“Personally, I would like to see 20% down become mandatory on all loans. If the borrower has a good chunk of skin in the game, he’s very unlikely to pull this crap and leave taxpayers holding the bag”

Breeze not a bad idea.

SD Realtor

[blew_it]

Agreed. Even if there is not a mandatory 20% down, the tighter lending standards should have a similar effect for a while. Until 10 years from now when the cycle starts over again (picture dawn-of-the-dead zombies chanting “everyone wants to live here…there’s a housing shortage…must not get priced out of the market…”).

Anyway, this makes me wonder: what about the PMI that is required when less than 20% is put down on a place? In the past, it seemed like bull$h|+ that the buyer had to pay the lender’s premium on insurance which insured the lender against default. Given recent history, this was appropriate. I think a lot of people avoided PMI by purchasing 80/10/10 loans, but does anyone know if there has been a deluge of PMI claims by lenders now? I would think so but haven’t read anything about this.

[blew_it]

Agreed. Even if there is not a mandatory 20% down, the tighter lending standards should have a similar effect for a while. Until 10 years from now when the cycle starts over again (picture dawn-of-the-dead zombies chanting “everyone wants to live here…there’s a housing shortage…must not get priced out of the market…”).

Anyway, this makes me wonder: what about the PMI that is required when less than 20% is put down on a place? In the past, it seemed like bull$h|+ that the buyer had to pay the lender’s premium on insurance which insured the lender against default. Given recent history, this was appropriate. I think a lot of people avoided PMI by purchasing 80/10/10 loans, but does anyone know if there has been a deluge of PMI claims by lenders now? I would think so but haven’t read anything about this.

[blew_it]

Agreed. Even if there is not a mandatory 20% down, the tighter lending standards should have a similar effect for a while. Until 10 years from now when the cycle starts over again (picture dawn-of-the-dead zombies chanting “everyone wants to live here…there’s a housing shortage…must not get priced out of the market…”).

Anyway, this makes me wonder: what about the PMI that is required when less than 20% is put down on a place? In the past, it seemed like bull$h|+ that the buyer had to pay the lender’s premium on insurance which insured the lender against default. Given recent history, this was appropriate. I think a lot of people avoided PMI by purchasing 80/10/10 loans, but does anyone know if there has been a deluge of PMI claims by lenders now? I would think so but haven’t read anything about this.

[blew_it]

Agreed. Even if there is not a mandatory 20% down, the tighter lending standards should have a similar effect for a while. Until 10 years from now when the cycle starts over again (picture dawn-of-the-dead zombies chanting “everyone wants to live here…there’s a housing shortage…must not get priced out of the market…”).

Anyway, this makes me wonder: what about the PMI that is required when less than 20% is put down on a place? In the past, it seemed like bull$h|+ that the buyer had to pay the lender’s premium on insurance which insured the lender against default. Given recent history, this was appropriate. I think a lot of people avoided PMI by purchasing 80/10/10 loans, but does anyone know if there has been a deluge of PMI claims by lenders now? I would think so but haven’t read anything about this.

[blew_it]

Agreed. Even if there is not a mandatory 20% down, the tighter lending standards should have a similar effect for a while. Until 10 years from now when the cycle starts over again (picture dawn-of-the-dead zombies chanting “everyone wants to live here…there’s a housing shortage…must not get priced out of the market…”).

Anyway, this makes me wonder: what about the PMI that is required when less than 20% is put down on a place? In the past, it seemed like bull$h|+ that the buyer had to pay the lender’s premium on insurance which insured the lender against default. Given recent history, this was appropriate. I think a lot of people avoided PMI by purchasing 80/10/10 loans, but does anyone know if there has been a deluge of PMI claims by lenders now? I would think so but haven’t read anything about this.

[Nancy_s soothsayer]

Given the current trend when almost everyone is trying to scam each other and justice is enforcement much delayed or none, in about 5 to 10 years, America will operate the housing business much like in a third world country – cash buyers only will be entertained or buyers will have to pay huge interest rates (usury to the hilt.)

[Nancy_s soothsayer]

Given the current trend when almost everyone is trying to scam each other and justice is enforcement much delayed or none, in about 5 to 10 years, America will operate the housing business much like in a third world country – cash buyers only will be entertained or buyers will have to pay huge interest rates (usury to the hilt.)

[Nancy_s soothsayer]

Given the current trend when almost everyone is trying to scam each other and justice is enforcement much delayed or none, in about 5 to 10 years, America will operate the housing business much like in a third world country – cash buyers only will be entertained or buyers will have to pay huge interest rates (usury to the hilt.)

[Nancy_s soothsayer]

Given the current trend when almost everyone is trying to scam each other and justice is enforcement much delayed or none, in about 5 to 10 years, America will operate the housing business much like in a third world country – cash buyers only will be entertained or buyers will have to pay huge interest rates (usury to the hilt.)

[Nancy_s soothsayer]

Given the current trend when almost everyone is trying to scam each other and justice is enforcement much delayed or none, in about 5 to 10 years, America will operate the housing business much like in a third world country – cash buyers only will be entertained or buyers will have to pay huge interest rates (usury to the hilt.)

[sdrealtor]

And those of us with 30 yr fixed loans in the mid-5 ‘s or lower will sleep sweet dreams for the next coupla decades.

[sdrealtor]

And those of us with 30 yr fixed loans in the mid-5 ‘s or lower will sleep sweet dreams for the next coupla decades.

[sdrealtor]

And those of us with 30 yr fixed loans in the mid-5 ‘s or lower will sleep sweet dreams for the next coupla decades.

[sdrealtor]

And those of us with 30 yr fixed loans in the mid-5 ‘s or lower will sleep sweet dreams for the next coupla decades.

[Author]

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