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Diego Mamani
Participant[quote=IONEGARM]I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played. [/quote]
With all due respect… I do have a huge problem with tiny (i.e., less than 5%) down payments. These buyers will be underwater in no time, especially if the down payment money was a “gift” and closing costs were paid buy the seller.
We need a real, market-driven economy, not a make believe, commie-style fantasy where govt institutions make decisions instead of private parties.
Participant[quote=IONEGARM]I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played. [/quote]
With all due respect… I do have a huge problem with tiny (i.e., less than 5%) down payments. These buyers will be underwater in no time, especially if the down payment money was a “gift” and closing costs were paid buy the seller.
We need a real, market-driven economy, not a make believe, commie-style fantasy where govt institutions make decisions instead of private parties.
Participant[quote=IONEGARM]I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played. [/quote]
With all due respect… I do have a huge problem with tiny (i.e., less than 5%) down payments. These buyers will be underwater in no time, especially if the down payment money was a “gift” and closing costs were paid buy the seller.
We need a real, market-driven economy, not a make believe, commie-style fantasy where govt institutions make decisions instead of private parties.
Participant[quote=IONEGARM]I dont have a huge problem with 3.5% down as a buyer as long as its full doc and there is something significant coming from the buyers side. That prevents a lot of the games from being played. [/quote]
With all due respect… I do have a huge problem with tiny (i.e., less than 5%) down payments. These buyers will be underwater in no time, especially if the down payment money was a “gift” and closing costs were paid buy the seller.
We need a real, market-driven economy, not a make believe, commie-style fantasy where govt institutions make decisions instead of private parties.
ParticipantIONEGARM, I didn’t mean to make a partisan post and blame the current administration. I agree that these practices predate Obama. My point is that his team is in charge now, and they have the power to do the right thing now.
SD-R, it appears that sellers and realtors in Ontario, San Bernardino, Riverside, etc., have found a way to transfer money to a third party (a “relative”) who then “gives” the money to the buyer.
Let’s look at the data… Would “gifts” be this common in the absence of this blatant government intervention? Gifts from relatives have always existed in RE, but the frequency of them today, especially in regards to FHA-guaranteed loans, is excessive. It can’t be real.
ParticipantIONEGARM, I didn’t mean to make a partisan post and blame the current administration. I agree that these practices predate Obama. My point is that his team is in charge now, and they have the power to do the right thing now.
SD-R, it appears that sellers and realtors in Ontario, San Bernardino, Riverside, etc., have found a way to transfer money to a third party (a “relative”) who then “gives” the money to the buyer.
Let’s look at the data… Would “gifts” be this common in the absence of this blatant government intervention? Gifts from relatives have always existed in RE, but the frequency of them today, especially in regards to FHA-guaranteed loans, is excessive. It can’t be real.
ParticipantIONEGARM, I didn’t mean to make a partisan post and blame the current administration. I agree that these practices predate Obama. My point is that his team is in charge now, and they have the power to do the right thing now.
SD-R, it appears that sellers and realtors in Ontario, San Bernardino, Riverside, etc., have found a way to transfer money to a third party (a “relative”) who then “gives” the money to the buyer.
Let’s look at the data… Would “gifts” be this common in the absence of this blatant government intervention? Gifts from relatives have always existed in RE, but the frequency of them today, especially in regards to FHA-guaranteed loans, is excessive. It can’t be real.
ParticipantIONEGARM, I didn’t mean to make a partisan post and blame the current administration. I agree that these practices predate Obama. My point is that his team is in charge now, and they have the power to do the right thing now.
SD-R, it appears that sellers and realtors in Ontario, San Bernardino, Riverside, etc., have found a way to transfer money to a third party (a “relative”) who then “gives” the money to the buyer.
Let’s look at the data… Would “gifts” be this common in the absence of this blatant government intervention? Gifts from relatives have always existed in RE, but the frequency of them today, especially in regards to FHA-guaranteed loans, is excessive. It can’t be real.
ParticipantIONEGARM, I didn’t mean to make a partisan post and blame the current administration. I agree that these practices predate Obama. My point is that his team is in charge now, and they have the power to do the right thing now.
SD-R, it appears that sellers and realtors in Ontario, San Bernardino, Riverside, etc., have found a way to transfer money to a third party (a “relative”) who then “gives” the money to the buyer.
Let’s look at the data… Would “gifts” be this common in the absence of this blatant government intervention? Gifts from relatives have always existed in RE, but the frequency of them today, especially in regards to FHA-guaranteed loans, is excessive. It can’t be real.
ParticipantSD-R nd FLU, very funny comments!
I used logic and reasoning a year ago… concluded that the dollar policies and coming bailouts were going to reduce the value of the dollar, and decided to put 10% of my net worth in VWIGX (Vanguard Intl Growth fund, highly diversified, mostly European companies) and another 6% in FXE (Euro EFT). I lost big time!
10 days ago I used my logic again (not having learned from George Constanza) and bought GE at $7, PVR, and US Bank Preferred G, all dividend-paying stocks, and I made a killing! But I only put in 2% of my net worth…
ParticipantSD-R nd FLU, very funny comments!
I used logic and reasoning a year ago… concluded that the dollar policies and coming bailouts were going to reduce the value of the dollar, and decided to put 10% of my net worth in VWIGX (Vanguard Intl Growth fund, highly diversified, mostly European companies) and another 6% in FXE (Euro EFT). I lost big time!
10 days ago I used my logic again (not having learned from George Constanza) and bought GE at $7, PVR, and US Bank Preferred G, all dividend-paying stocks, and I made a killing! But I only put in 2% of my net worth…
ParticipantSD-R nd FLU, very funny comments!
I used logic and reasoning a year ago… concluded that the dollar policies and coming bailouts were going to reduce the value of the dollar, and decided to put 10% of my net worth in VWIGX (Vanguard Intl Growth fund, highly diversified, mostly European companies) and another 6% in FXE (Euro EFT). I lost big time!
10 days ago I used my logic again (not having learned from George Constanza) and bought GE at $7, PVR, and US Bank Preferred G, all dividend-paying stocks, and I made a killing! But I only put in 2% of my net worth…
ParticipantSD-R nd FLU, very funny comments!
I used logic and reasoning a year ago… concluded that the dollar policies and coming bailouts were going to reduce the value of the dollar, and decided to put 10% of my net worth in VWIGX (Vanguard Intl Growth fund, highly diversified, mostly European companies) and another 6% in FXE (Euro EFT). I lost big time!
10 days ago I used my logic again (not having learned from George Constanza) and bought GE at $7, PVR, and US Bank Preferred G, all dividend-paying stocks, and I made a killing! But I only put in 2% of my net worth…
ParticipantSD-R nd FLU, very funny comments!
I used logic and reasoning a year ago… concluded that the dollar policies and coming bailouts were going to reduce the value of the dollar, and decided to put 10% of my net worth in VWIGX (Vanguard Intl Growth fund, highly diversified, mostly European companies) and another 6% in FXE (Euro EFT). I lost big time!
10 days ago I used my logic again (not having learned from George Constanza) and bought GE at $7, PVR, and US Bank Preferred G, all dividend-paying stocks, and I made a killing! But I only put in 2% of my net worth…
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