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April 1, 2008 at 12:47 PM #179767April 1, 2008 at 1:02 PM #179313patientlywaitingParticipant
What some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
The bailouts will work somewhat in most of the country (such as Columbus, Indianapolis, Atlanta, etc..) but they won’t help high cost areas such as San Diego.
April 1, 2008 at 1:02 PM #179679patientlywaitingParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
The bailouts will work somewhat in most of the country (such as Columbus, Indianapolis, Atlanta, etc..) but they won’t help high cost areas such as San Diego.
April 1, 2008 at 1:02 PM #179683patientlywaitingParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
The bailouts will work somewhat in most of the country (such as Columbus, Indianapolis, Atlanta, etc..) but they won’t help high cost areas such as San Diego.
April 1, 2008 at 1:02 PM #179695patientlywaitingParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
The bailouts will work somewhat in most of the country (such as Columbus, Indianapolis, Atlanta, etc..) but they won’t help high cost areas such as San Diego.
April 1, 2008 at 1:02 PM #179772patientlywaitingParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
The bailouts will work somewhat in most of the country (such as Columbus, Indianapolis, Atlanta, etc..) but they won’t help high cost areas such as San Diego.
April 1, 2008 at 1:16 PM #179322(former)FormerSanDieganParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
Huh ?
So, let me get this straight. You don’t think there is any amount of principal write down that could make option ARMS or teaser-rate loans affordable ?
April 1, 2008 at 1:16 PM #179689(former)FormerSanDieganParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
Huh ?
So, let me get this straight. You don’t think there is any amount of principal write down that could make option ARMS or teaser-rate loans affordable ?
April 1, 2008 at 1:16 PM #179693(former)FormerSanDieganParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
Huh ?
So, let me get this straight. You don’t think there is any amount of principal write down that could make option ARMS or teaser-rate loans affordable ?
April 1, 2008 at 1:16 PM #179705(former)FormerSanDieganParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
Huh ?
So, let me get this straight. You don’t think there is any amount of principal write down that could make option ARMS or teaser-rate loans affordable ?
April 1, 2008 at 1:16 PM #179782(former)FormerSanDieganParticipantWhat some of you guys are forgetting is that teaser rate and exotic loans are unaffordable if they are fully amortized, regardless of the interest rate and regardless of principal amount write downs.
Huh ?
So, let me get this straight. You don’t think there is any amount of principal write down that could make option ARMS or teaser-rate loans affordable ?
April 1, 2008 at 1:23 PM #179327jpinpbParticipantA lot of these places were purchased by investors w/the sole intent to flip and make $$. How can they flip if the value is reduced everywhere. Who will buy? The credit lending will still be tight and now w/rules of 20% down and proving you can make the payments to qualify, there won’t be the flood to buy overpriced, unaffordable places as before.
Writing down the loan and fixing rates will help some of those who planned on being there for 10 years or so who didn’t get in over their heads on payments who aren’t owning multiple properties.
But how many of those are out there? Those people it will help. All the others gambling are still stuck, IMO – and may still end up being walkers.
April 1, 2008 at 1:23 PM #179694jpinpbParticipantA lot of these places were purchased by investors w/the sole intent to flip and make $$. How can they flip if the value is reduced everywhere. Who will buy? The credit lending will still be tight and now w/rules of 20% down and proving you can make the payments to qualify, there won’t be the flood to buy overpriced, unaffordable places as before.
Writing down the loan and fixing rates will help some of those who planned on being there for 10 years or so who didn’t get in over their heads on payments who aren’t owning multiple properties.
But how many of those are out there? Those people it will help. All the others gambling are still stuck, IMO – and may still end up being walkers.
April 1, 2008 at 1:23 PM #179699jpinpbParticipantA lot of these places were purchased by investors w/the sole intent to flip and make $$. How can they flip if the value is reduced everywhere. Who will buy? The credit lending will still be tight and now w/rules of 20% down and proving you can make the payments to qualify, there won’t be the flood to buy overpriced, unaffordable places as before.
Writing down the loan and fixing rates will help some of those who planned on being there for 10 years or so who didn’t get in over their heads on payments who aren’t owning multiple properties.
But how many of those are out there? Those people it will help. All the others gambling are still stuck, IMO – and may still end up being walkers.
April 1, 2008 at 1:23 PM #179710jpinpbParticipantA lot of these places were purchased by investors w/the sole intent to flip and make $$. How can they flip if the value is reduced everywhere. Who will buy? The credit lending will still be tight and now w/rules of 20% down and proving you can make the payments to qualify, there won’t be the flood to buy overpriced, unaffordable places as before.
Writing down the loan and fixing rates will help some of those who planned on being there for 10 years or so who didn’t get in over their heads on payments who aren’t owning multiple properties.
But how many of those are out there? Those people it will help. All the others gambling are still stuck, IMO – and may still end up being walkers.
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