- This topic has 10 replies, 3 voices, and was last updated 16 years, 4 months ago by
jpinpb.
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November 2, 2008 at 2:00 PM #14354November 2, 2008 at 6:59 PM #296911
SD Realtor
ParticipantAre the companies that have been collecting PMI for decades finally starting to have to pay?
*** Not many. As the housing boom took off many people financed homes without paying PMI. Instead they got two mortgages. This is/was a common way to get by without paying PMI.
Why are there not more judicial foreclosures in CA since prices have dropped way more than 20%?
*** Private sales, (ie trustee sales) are much easier, expedient, and probably (just a guess) cheaper then a judicial foreclosure. The deed of trust gives the lender the power to hold the private sale aka the trustee sale.
I have been preaapproved by Countrywide with only 5% down and yet everyone says it is 20% now to buy. Is Countrywide on the level or am I going to be surprised after getting my offer accepted?
*** Contrary to popular belief there are still financing paths out there for less then 20%. It is not as uncommonplace as you would think. Yes it is harder then it was and underwriters are doing a MUCH better job these days.
Best of luck.
November 2, 2008 at 6:59 PM #297255ParticipantAre the companies that have been collecting PMI for decades finally starting to have to pay?
*** Not many. As the housing boom took off many people financed homes without paying PMI. Instead they got two mortgages. This is/was a common way to get by without paying PMI.
Why are there not more judicial foreclosures in CA since prices have dropped way more than 20%?
*** Private sales, (ie trustee sales) are much easier, expedient, and probably (just a guess) cheaper then a judicial foreclosure. The deed of trust gives the lender the power to hold the private sale aka the trustee sale.
I have been preaapproved by Countrywide with only 5% down and yet everyone says it is 20% now to buy. Is Countrywide on the level or am I going to be surprised after getting my offer accepted?
*** Contrary to popular belief there are still financing paths out there for less then 20%. It is not as uncommonplace as you would think. Yes it is harder then it was and underwriters are doing a MUCH better job these days.
Best of luck.
November 2, 2008 at 6:59 PM #297271ParticipantAre the companies that have been collecting PMI for decades finally starting to have to pay?
*** Not many. As the housing boom took off many people financed homes without paying PMI. Instead they got two mortgages. This is/was a common way to get by without paying PMI.
Why are there not more judicial foreclosures in CA since prices have dropped way more than 20%?
*** Private sales, (ie trustee sales) are much easier, expedient, and probably (just a guess) cheaper then a judicial foreclosure. The deed of trust gives the lender the power to hold the private sale aka the trustee sale.
I have been preaapproved by Countrywide with only 5% down and yet everyone says it is 20% now to buy. Is Countrywide on the level or am I going to be surprised after getting my offer accepted?
*** Contrary to popular belief there are still financing paths out there for less then 20%. It is not as uncommonplace as you would think. Yes it is harder then it was and underwriters are doing a MUCH better job these days.
Best of luck.
November 2, 2008 at 6:59 PM #297284ParticipantAre the companies that have been collecting PMI for decades finally starting to have to pay?
*** Not many. As the housing boom took off many people financed homes without paying PMI. Instead they got two mortgages. This is/was a common way to get by without paying PMI.
Why are there not more judicial foreclosures in CA since prices have dropped way more than 20%?
*** Private sales, (ie trustee sales) are much easier, expedient, and probably (just a guess) cheaper then a judicial foreclosure. The deed of trust gives the lender the power to hold the private sale aka the trustee sale.
I have been preaapproved by Countrywide with only 5% down and yet everyone says it is 20% now to buy. Is Countrywide on the level or am I going to be surprised after getting my offer accepted?
*** Contrary to popular belief there are still financing paths out there for less then 20%. It is not as uncommonplace as you would think. Yes it is harder then it was and underwriters are doing a MUCH better job these days.
Best of luck.
November 2, 2008 at 6:59 PM #297328ParticipantAre the companies that have been collecting PMI for decades finally starting to have to pay?
*** Not many. As the housing boom took off many people financed homes without paying PMI. Instead they got two mortgages. This is/was a common way to get by without paying PMI.
Why are there not more judicial foreclosures in CA since prices have dropped way more than 20%?
*** Private sales, (ie trustee sales) are much easier, expedient, and probably (just a guess) cheaper then a judicial foreclosure. The deed of trust gives the lender the power to hold the private sale aka the trustee sale.
I have been preaapproved by Countrywide with only 5% down and yet everyone says it is 20% now to buy. Is Countrywide on the level or am I going to be surprised after getting my offer accepted?
*** Contrary to popular belief there are still financing paths out there for less then 20%. It is not as uncommonplace as you would think. Yes it is harder then it was and underwriters are doing a MUCH better job these days.
Best of luck.
November 14, 2008 at 12:37 PM #304597jpinpb
ParticipantI know this thread is a little old, but I’m playing catch-up.
If you qualify for an FHA loan, I think they only require 3% down.
November 14, 2008 at 12:37 PM #304961ParticipantI know this thread is a little old, but I’m playing catch-up.
If you qualify for an FHA loan, I think they only require 3% down.
November 14, 2008 at 12:37 PM #304974ParticipantI know this thread is a little old, but I’m playing catch-up.
If you qualify for an FHA loan, I think they only require 3% down.
November 14, 2008 at 12:37 PM #304992ParticipantI know this thread is a little old, but I’m playing catch-up.
If you qualify for an FHA loan, I think they only require 3% down.
November 14, 2008 at 12:37 PM #305050ParticipantI know this thread is a little old, but I’m playing catch-up.
If you qualify for an FHA loan, I think they only require 3% down.
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