[Alex_angel]

Are you sure you weren’t an ambulance driver. You seem to post the facts after the fact. now that rates are acting like you knew this would happen but never peeped on word prior.

[Alex_angel]

by running a 100% finianced loan means paying a higher interest rate wich would make the payments even worse.

[Alex_angel]

by running a 100% finianced loan means paying a higher interest rate wich would make the payments even worse.

[Alex_angel]

I agree perry but as long as you can afford the payment. In my bro-in-law this .5% rate jump is going to push him into a bad situation. It is funny how a couple hundred more per month can kill your budget.

[Alex_angel]

I agree perry but as long as you can afford the payment. In my bro-in-law this .5% rate jump is going to push him into a bad situation. It is funny how a couple hundred more per month can kill your budget.

[Alex_angel]

Carriage run has been saying they are sold out since the first release yet they are listing homes on the MLS. The sales people there are some of the snottiest uptight XXXXXs out there. They lie right in your face to get a sale. Not ethical at all. But again I am threadjacking.

Tuba, Some good points on fighting for the deposit back. I agree that I think the builder will try their hardest to keep it but part of me believes they would rather not have another potential forclosure on their hands.

[Alex_angel]

Carriage run has been saying they are sold out since the first release yet they are listing homes on the MLS. The sales people there are some of the snottiest uptight XXXXXs out there. They lie right in your face to get a sale. Not ethical at all. But again I am threadjacking.

Tuba, Some good points on fighting for the deposit back. I agree that I think the builder will try their hardest to keep it but part of me believes they would rather not have another potential forclosure on their hands.

[Alex_angel]

meadandale,
Thats the question. It seems they can get finiancing since the lender really doesn’t care. The problem is that they cannot make the payment. What lender is that reckless to still sign over a contract if the borrower bluntly admits that the new interest rate hike has put them in a position to not make payments. If anything the lender would then tell the builder that this person is not a good candidate and the builder would give back the deposit and sort of tell the buyer to f*ck off and don’t come back. I just don’t see this happeneing. I see the lender getting all tricky with loans to get this person in and then have them foreclose in a couple of months. I also see the builder being pricks about giving that deposit back.

[Alex_angel]

meadandale,
Thats the question. It seems they can get finiancing since the lender really doesn’t care. The problem is that they cannot make the payment. What lender is that reckless to still sign over a contract if the borrower bluntly admits that the new interest rate hike has put them in a position to not make payments. If anything the lender would then tell the builder that this person is not a good candidate and the builder would give back the deposit and sort of tell the buyer to f*ck off and don’t come back. I just don’t see this happeneing. I see the lender getting all tricky with loans to get this person in and then have them foreclose in a couple of months. I also see the builder being pricks about giving that deposit back.

[Alex_angel]

That’s what I told them. To first see what Pardee says and if they argue against giving it back then to seek legal advice.

I was just curious if anyone here knew of situations like this were someone got into a home then had to back out and got screwed from the deposit.

I can see Pardee wanting to keep it and use it as an incentive to the next buyer as free flooring or something cheesy like that.

[Alex_angel]

That’s what I told them. To first see what Pardee says and if they argue against giving it back then to seek legal advice.

I was just curious if anyone here knew of situations like this were someone got into a home then had to back out and got screwed from the deposit.

I can see Pardee wanting to keep it and use it as an incentive to the next buyer as free flooring or something cheesy like that.

[Alex_angel]

Not the point. I agree that carriage run homes are horrible. This is about recovering the deposit.

Is it possible since they can no longer afford the payment?

They are the typical home buyer, extended way too far and this extra boost in interest rates was the straw that broke the camels back.

[Alex_angel]

Not the point. I agree that carriage run homes are horrible. This is about recovering the deposit.

Is it possible since they can no longer afford the payment?

They are the typical home buyer, extended way too far and this extra boost in interest rates was the straw that broke the camels back.

[Alex_angel]

So then you’d rather have a scenario where no one at all is able to afford a house? What is your goal then? To wait for homes to some down 10% and rates to go up 2% so you can pay the same monthly payment on a house that is 30% lower than 3 years ago?

[Alex_angel]

So then you’d rather have a scenario where no one at all is able to afford a house? What is your goal then? To wait for homes to some down 10% and rates to go up 2% so you can pay the same monthly payment on a house that is 30% lower than 3 years ago?

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