[donaldduckmoore]

[quote=dd123]Here is one forclosure prevented by Bank/Govt:

One of my colleague bought a house for half a million 4 years back and his monthly payment was $4K. With the recent divorce, he was unable to make mortgage payments and for the last 6/7 months he was not making payments hoping to do short sale.
He is a very nice/easy going simple guy but financially irresponsible who likes to drive $40k car with toy like $8K in his driveway.
Last week he told me that, bank did some deal with him taking advantage of bailout, now he is able to keep his house paying just $2k/month for next 30 years which is what he can afford.
I am very happy for my colleague since I like him personally though I know that we all are footing the bill for this bailout.
At the same time, I think I have missed an opportunity to get bail out from govt.
Sometimes, I think I should have bought a million dollar house in 2006 though I cant afford it but anyway I would have been bailed out by bank/govt.
Being over analytical/financial responsible kind of kicked me back.[/quote]

DD, that is a big difference in payment. Did the bank reduce his principle amt. I thought they do not like the idea of reducing priciple.

[donaldduckmoore]

[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].

[donaldduckmoore]

[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].

[donaldduckmoore]

[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].

[donaldduckmoore]

[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].

[donaldduckmoore]

[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.

Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]

Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is [email protected].

[donaldduckmoore]

[quote=danthedart]I would think this is a good thing. Sounds like a lot of the inventory issues is that the banks can’t process the homes fast enough.

If these bulk buyers come in and basically take a cut of the bank’s money in order to get the home on the market, that’s fine.

Remember these homes have to come on the market at some point anyway. If there are too many of them, it will force the price to come down.

These bulk investors are not going to be living in the homes. Families will eventually make their way into these homes.

If there are more homes than there are families, the price will drop. [/quote]

Ways for investors to make profits from these bulk purchases is to package the houses and sell it for higher price or rent them out. We may see rent come down in the future if the latter is the case.

[donaldduckmoore]

[quote=danthedart]I would think this is a good thing. Sounds like a lot of the inventory issues is that the banks can’t process the homes fast enough.

If these bulk buyers come in and basically take a cut of the bank’s money in order to get the home on the market, that’s fine.

Remember these homes have to come on the market at some point anyway. If there are too many of them, it will force the price to come down.

These bulk investors are not going to be living in the homes. Families will eventually make their way into these homes.

If there are more homes than there are families, the price will drop. [/quote]

Ways for investors to make profits from these bulk purchases is to package the houses and sell it for higher price or rent them out. We may see rent come down in the future if the latter is the case.

[donaldduckmoore]

[quote=danthedart]I would think this is a good thing. Sounds like a lot of the inventory issues is that the banks can’t process the homes fast enough.

If these bulk buyers come in and basically take a cut of the bank’s money in order to get the home on the market, that’s fine.

Remember these homes have to come on the market at some point anyway. If there are too many of them, it will force the price to come down.

These bulk investors are not going to be living in the homes. Families will eventually make their way into these homes.

If there are more homes than there are families, the price will drop. [/quote]

Ways for investors to make profits from these bulk purchases is to package the houses and sell it for higher price or rent them out. We may see rent come down in the future if the latter is the case.

[donaldduckmoore]

[quote=danthedart]I would think this is a good thing. Sounds like a lot of the inventory issues is that the banks can’t process the homes fast enough.

If these bulk buyers come in and basically take a cut of the bank’s money in order to get the home on the market, that’s fine.

Remember these homes have to come on the market at some point anyway. If there are too many of them, it will force the price to come down.

These bulk investors are not going to be living in the homes. Families will eventually make their way into these homes.

If there are more homes than there are families, the price will drop. [/quote]

Ways for investors to make profits from these bulk purchases is to package the houses and sell it for higher price or rent them out. We may see rent come down in the future if the latter is the case.

[donaldduckmoore]

[quote=danthedart]I would think this is a good thing. Sounds like a lot of the inventory issues is that the banks can’t process the homes fast enough.

If these bulk buyers come in and basically take a cut of the bank’s money in order to get the home on the market, that’s fine.

Remember these homes have to come on the market at some point anyway. If there are too many of them, it will force the price to come down.

These bulk investors are not going to be living in the homes. Families will eventually make their way into these homes.

If there are more homes than there are families, the price will drop. [/quote]

Ways for investors to make profits from these bulk purchases is to package the houses and sell it for higher price or rent them out. We may see rent come down in the future if the latter is the case.

[donaldduckmoore]

That is the difference of wholesale and retail. You buy it bulk and they are cheaper. It is that simple.

[donaldduckmoore]

That is the difference of wholesale and retail. You buy it bulk and they are cheaper. It is that simple.

[donaldduckmoore]

That is the difference of wholesale and retail. You buy it bulk and they are cheaper. It is that simple.

[donaldduckmoore]

That is the difference of wholesale and retail. You buy it bulk and they are cheaper. It is that simple.

[Author]

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