Someone please explain this rate lock thing to me!!!

[nostradamus]

I don’t think the sale inventory will drop all that much. There are millions of homes sitting vacant nationwide and millions that are second homes owned by speculators. They will not be bailed out (if they are I’m going to become a tax renegade).

There are already millions of vacant, foreclosed homes that the banks are holding on to as well. The bailout won’t help those either!

All the bailout proposals I’ve heard involve primary-owner-occupiers. No? I would hope that due diligence is paid to make sure that if a bailout happens (I hope it doesn’t), it only helps owner-occupiers and not speculators/banks/investors.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[kev374]

the more number of rate freezes that occur it will have a proportional effect of lenders shying away from extending more credit to new buyers, tightening their standards, and investors running miles away from any real esate related investments. Well, and if getting a loan is impossible for most new buyers it will have a devastating effect on home prices as is starting to happen right now.

This is to counter the silly argument that many make that goes since lenders are locking rates the market will not collapse. It is far too late for that type of thinking.

[TW]

My thoughts on the subject–

Aren’t there companies that buy bad debt from credit card companies, at less than the balance and then try to make money buy working out a payment plan with the debtor?

Wouldn’t this work essentially the same way?

[TW]

My thoughts on the subject–

Aren’t there companies that buy bad debt from credit card companies, at less than the balance and then try to make money buy working out a payment plan with the debtor?

Wouldn’t this work essentially the same way?

[TW]

My thoughts on the subject–

Aren’t there companies that buy bad debt from credit card companies, at less than the balance and then try to make money buy working out a payment plan with the debtor?

Wouldn’t this work essentially the same way?

[TW]

My thoughts on the subject–

Aren’t there companies that buy bad debt from credit card companies, at less than the balance and then try to make money buy working out a payment plan with the debtor?

Wouldn’t this work essentially the same way?

[TW]

My thoughts on the subject–

Aren’t there companies that buy bad debt from credit card companies, at less than the balance and then try to make money buy working out a payment plan with the debtor?

Wouldn’t this work essentially the same way?

[DaCounselor]

We started talking about loan modifications many many months ago, so it should be no surprise to the old-timers here that this is happening. Mods are going to happen with increasing frequency, period. They are going to save alot of folks’ hides, at least for the time being.

Modifications will absolutely reduce the “must-sell” inventory that Rich has been so focused on. Neverless, I anticipate values will continue to come down simply due to the disconnect between prices and income and the unavailability of the exotic financing that contributed to the price run-up. In short, modifications may reduce the depth and speed of the devaluation, but not stop it. Certainly not stop it.

Mods are seen as an attractive option because of an anticipated “win-win” scenario. Distressed borrowers find relief. Loan servicers collect fees on mod paperwork. Investors maintain an income stream as opposed to a complete wipe-out. The politicians pronounce they have saved the day. And if prices continue to come down, those who have been waiting to buy win as well.

[DaCounselor]

We started talking about loan modifications many many months ago, so it should be no surprise to the old-timers here that this is happening. Mods are going to happen with increasing frequency, period. They are going to save alot of folks’ hides, at least for the time being.

Modifications will absolutely reduce the “must-sell” inventory that Rich has been so focused on. Neverless, I anticipate values will continue to come down simply due to the disconnect between prices and income and the unavailability of the exotic financing that contributed to the price run-up. In short, modifications may reduce the depth and speed of the devaluation, but not stop it. Certainly not stop it.

Mods are seen as an attractive option because of an anticipated “win-win” scenario. Distressed borrowers find relief. Loan servicers collect fees on mod paperwork. Investors maintain an income stream as opposed to a complete wipe-out. The politicians pronounce they have saved the day. And if prices continue to come down, those who have been waiting to buy win as well.

[DaCounselor]

We started talking about loan modifications many many months ago, so it should be no surprise to the old-timers here that this is happening. Mods are going to happen with increasing frequency, period. They are going to save alot of folks’ hides, at least for the time being.

Modifications will absolutely reduce the “must-sell” inventory that Rich has been so focused on. Neverless, I anticipate values will continue to come down simply due to the disconnect between prices and income and the unavailability of the exotic financing that contributed to the price run-up. In short, modifications may reduce the depth and speed of the devaluation, but not stop it. Certainly not stop it.

Mods are seen as an attractive option because of an anticipated “win-win” scenario. Distressed borrowers find relief. Loan servicers collect fees on mod paperwork. Investors maintain an income stream as opposed to a complete wipe-out. The politicians pronounce they have saved the day. And if prices continue to come down, those who have been waiting to buy win as well.

[DaCounselor]

We started talking about loan modifications many many months ago, so it should be no surprise to the old-timers here that this is happening. Mods are going to happen with increasing frequency, period. They are going to save alot of folks’ hides, at least for the time being.

Modifications will absolutely reduce the “must-sell” inventory that Rich has been so focused on. Neverless, I anticipate values will continue to come down simply due to the disconnect between prices and income and the unavailability of the exotic financing that contributed to the price run-up. In short, modifications may reduce the depth and speed of the devaluation, but not stop it. Certainly not stop it.

Mods are seen as an attractive option because of an anticipated “win-win” scenario. Distressed borrowers find relief. Loan servicers collect fees on mod paperwork. Investors maintain an income stream as opposed to a complete wipe-out. The politicians pronounce they have saved the day. And if prices continue to come down, those who have been waiting to buy win as well.

[Author]

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