Where is the inventory, where is the inventory, where is the inventory…

[SD Realtor]

Really show me a post where I said it is okay.

Go ahead, continue to make things up.

[sdrealtor]

[quote=AN]BG, how do you have a FICO score that’s higher than the max of 850?[/quote]

Four words…wine in a box

[Coronita]

BG, I don’t get it. If you think taking a $250k heloc out of your home and then strategically defaulting will move you further ahead, then what’s to stop you right now from doing it?

Seems to me, that the only difference between you and your said neighbors/acquaintances that you seem to envy for doing so, is that they did it in 2007. You can do it in 2012.. What’s the difference if you think it works out better this way?

[Coronita]

[quote=sdrealtor][quote=AN]BG, how do you have a FICO score that’s higher than the max of 850?[/quote]

Four words…wine in a box[/quote]

I think there are a few different credit scoring systems.

Most common is FICO with range of 550-850 I believe.
There’s another scoring system based on 990 being perfect, and I believe that is VantageScore or something like that.

Still there’s other scoring systems too, like beacon score.

A true Fico score is based on an 850 score. Sometimes going to the credit bureau website and requesting a credit score, you get the score that that that company uses (maybe proprietary or VantageScore, or something like that).. I recall running a self credit score one time, and it was above 850 so it was on a different scoring system.

[SD Realtor]

I am waiting bg…

[an]

[quote=bearishgurl]AN, what’s the point of stellar credit if you can’t even recover your downpayment from your existing property to retire elsewhere?

That’s why I stated I may have been better off removing $250K+ of my home “equity” back in 2004-2006. By the time I want to move away and “retire” (2014), the “deed-in-lieu” incident would have been 7-8 years behind me.

And I would have had the “mattress-cash” for a downpayment when my credit recovered :=}[/quote]
FICO score and the ability to sell is two completely different point. So, why even bring them up in the same argument. FICO score is as relevant as saying the sky is blue, but what’s the point of blue sky when you can’t even recover your down payment.

You took the risk for not selling in 2004-2006 at the peak, so don’t whine about it when you end up on the wrong side of the bet. Staying put in a house is the same as buying a house. You made a conscious decision to live in that house. If you know in 2004 that you’d retire in 10 years and you don’t want to live in that house after that, why didn’t you take advantage of the bubble and sell? Unless you got caught up in the bubble and hope it’ll never crash.

BTW, like flu said, there are other scoring agencies who have scores higher than 850, but FICO score max out at 850. Here some info on FICO: Linky

[bearishgurl]

[quote=AN][quote=bearishgurl]AN, what’s the point of stellar credit if you can’t even recover your downpayment from your existing property to retire elsewhere?

That’s why I stated I may have been better off removing $250K+ of my home “equity” back in 2004-2006. By the time I want to move away and “retire” (2014), the “deed-in-lieu” incident would have been 7-8 years behind me.

And I would have had the “mattress-cash” for a downpayment when my credit recovered :=}[/quote]
FICO score and the ability to sell is two completely different point. So, why even bring them up in the same argument. FICO score is as relevant as saying the sky is blue, but what’s the point of blue sky when you can’t even recover your down payment.

You took the risk for not selling in 2004-2006 at the peak, so don’t whine about it when you end up on the wrong side of the bet. Staying put in a house is the same as buying a house. You made a conscious decision to live in that house. If you know in 2004 that you’d retire in 10 years and you don’t want to live in that house after that, why didn’t you take advantage of the bubble and sell? Unless you got caught up in the bubble and hope it’ll never crash.

BTW, like flu said, there are other scoring agencies who have scores higher than 850, but FICO score max out at 850. Here some info on FICO: Linky[/quote]

AN, until the end of 2007, I fully intended on “retiring in place.”

I DID look at my 851 score (dtd 11/6/11) in my file after posting. It is off the Intelius site and derives from Experian. Experian uses the “Vantage Score.”

3

Compare the maximum scores. The maximum FICO score is 850 while the maximum VantageScore is 990. Multiplying your FICO score by 1.165 can give you an approximation of your VantageScore.

4

Compare your score to the score of other individuals. Only the top 11 percent have a VantageScore above 900, while 60 percent have a score above 700. For FICO, 85 percent have a score above 600.

Read more: How to Compare FICO Score to Experian VantageScore | eHow.com http://www.ehow.com/how_5243734_compare-fico-score-experian-vantagescore.

see: http://www.ehow.com/how_5243734_compare-fico-score-experian-vantagescore.html

[bearishgurl]

[quote=SD Realtor]I am waiting bg…[/quote]

SDR, I never stated that you personally condoned the “deadbeat homedebtor” being coddled. But you have “given the impression” here of late that you don’t much care, one way or the other.

I haven’t had the chance to peruse too many older threads, but maybe I joined the party here a little late … after all the complaining on this site about “moral hazard” of “cash out,” then default (in that order) may have been the the main subject of conversation here. Maybe that’s the time you actually complained and I don’t know where to find it.

Why don’t you point to a thread to enlighten me, SDR?

Going to other regional sites, there are a MULTITUDE of angry homeowners citing the same issues as myself so I KNOW I am not alone in the way I feel about forgiveness of “cash out.”

[bearishgurl]

[quote=flu]BG, I don’t get it. If you think taking a $250k heloc out of your home and then strategically defaulting will move you further ahead, then what’s to stop you right now from doing it?

Seems to me, that the only difference between you and your said neighbors/acquaintances that you seem to envy for doing so, is that they did it in 2007. You can do it in 2012.. What’s the difference if you think it works out better this way?[/quote]

flu, you must be aware that a current appraisal will not support taking $250K out of my home, even if I COULD qualify for it. I may not be able to qualify for a refi, let alone any “cash-out” at all!

[Coronita]

[quote=bearishgurl][quote=flu]BG, I don’t get it. If you think taking a $250k heloc out of your home and then strategically defaulting will move you further ahead, then what’s to stop you right now from doing it?

Seems to me, that the only difference between you and your said neighbors/acquaintances that you seem to envy for doing so, is that they did it in 2007. You can do it in 2012.. What’s the difference if you think it works out better this way?[/quote]

flu, you must be aware that a current appraisal will not support taking $250K out of my home, even if I COULD qualify for it. I may not be able to qualify for a refi, let alone any “cash-out” at all![/quote]

Well let me rephrase this… If you really think you would be better off if you did this, are you at least going to try?

In all seriousness, I don’t think you would. Simply because I believe you probably have some self-respect and find what others can do (even if they could get away with it) disgusting. I mean I hate my neighbor. Because I know that they were one of those people that got liar loans, overbid on a place, then refinanced over and over again and heloc’ed the hell out of their home, and then got a loan mod, and then still knee deep in debt, now with a NOD (well, it wouldn’t be the first time) and behind on property tax payment. And yet the wifey still comes back with gobs of shopping bags each weekend….I look at them, and think it’s pretty pathetic. I don’t envy them at all. I wouldn’t want to be in their shoes.

[Jazzman]

[quote=treehugger][quote=bearishgurl]
treehugger, I really think you will be able to land yourself a deal on something you like in O’side or Vista. If you don’t mind my asking, do you (or your spouse) work at Camp Pendleton?[/quote]

I know i will get a deal, ’cause i am obsessive and we want a fixer upper, which most other buyers aren’t as eager for.

As for Pendleton…..Maybe…..Why do you ask?[/quote]

Be careful with the fixer route. Many sellers don’t understand their home is fixer.

[Jazzman]

Most sellers don’t have a clue about what’s going on. Lot of fishers out there who quickly get discouraged when no offers come in. Lost equity hangover won’t shake off until investment portfolios improve. Lenders are squeezing supply whether unwittingly in some cases, or opportunistically in others. Nobody really knows what the hell is going on, but as a buyer you have a strong hand to play. Don’t buy! Only a fool enters the bidding foray due to a shortage of homes for sale. Be smarter than dumb ass sellers.

[pemeliza]

“Be smarter than dumb ass sellers.”

That is a bit harsh jazz. We will likely all be “sellers” at some point in our lives.

I don’t see anywhere near as many over priced homes as I once did in my area so I think most serious sellers have gotten the message plenty load and clear that market values have fallen substantially since the peak.

[SD Realtor]

This is why you are so full of sh-t.

First you say…

“….appear to be giving the impression here that you think it’s all okay and it’s “all going to work itself out” in 5, 10, 15 or 20 years. ”

and then in the same thread you say…

“…never stated that you personally condoned the “deadbeat homedebtor” being coddled. But you have “given the impression” here of late that you don’t much care, one way or the other. ”

It has become quite comical.

***************

What I post is the reality of the situation. Plain and simple. Way back in the day, long before you came around, I was one of the few that posted my thoughts about how we better watch out because our own govt would indeed take measures that would be counterproductive allowing the market to correct in a natural manner. This was well before TARP, well before bailouts, well before loan mods… on and on. Furthermore I was one of the few who have argued against all of those same issues, consistently…Go look it up…

Now because all of these measures have actually accomplished what the govt wanted, I have posted about that and acknowledged that. You can continue to be delusional and think they have not but they have. What we have witnessed will probably go down as one of the biggest thefts in history. The process continues to be perpetuated. Institutional profits have been quite robust through this entire process and the taxpayers have footed the bill. Moral hazard has been tossed out the window. Yes this has happened and it is pretty damn sad. You can pop your meds and post about it all day.

Guess what? We already know.

With regards to my personal property which has depreciated since I bought it in 2003, I have never once whined about it. I could have walked but I didn’t. Big deal. I am not happy about those who have and loan mods and all the fraud going on. I have posted about it as well….You however have made it a point to cry a river to all of us about your property and the neighboring sales. Here is a news flash…

WE

DONT

CARE

My perspective is that it is a hell of alot better to acknowledge the reality of the situation and counsel people about how things really are and how they will play out. That way they can make informed decisions.

Back on ignore so post all you want.

[ocrenter]

[quote=SD Realtor]

Back on ignore so post all you want.[/quote]

SDR,

Hey, I think our ignore list might look the same! 🙂

[Author]

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