Forum Replies Created
-
AuthorPosts
-
May 27, 2009 at 8:14 AM in reply to: What is the advantage of buying down your interest rate? #406719May 27, 2009 at 8:14 AM in reply to: What is the advantage of buying down your interest rate? #406866
(former)FormerSanDiegan
ParticipantI would look at it this way.
How much is the buy down costing you ?
e.g. $2000What is your return ?
e.g. $60 per month reduction in paymentCan you do better elsewhere with your $2000 investment ?
May 27, 2009 at 8:10 AM in reply to: Stupid refinance rule: Must live within 100 miles from property! #406165Participant[quote=briansd1]So?
I don’t see what’s wrong.
Lender have their good guidelines for their own reasons.
It makes senses to me. If you live too far from you rental you can’t manage it or properly supervise the property manager. Therefore you are a higher risk.
[/quote]
Although the OP was cirting a case from Wisconsin, the lender guideline was stated to be 100 miles.
100 miles is not really that far. Seems like a strict guideline. We’ve owned rental property for nearly a decade and currently live about 130 miles from it.
I guess the underwriters can cite any rule they want in order to reduce apparent risk. The funny thing is that there is likely significantly less risk in financing a 75% LTV for an out of state owner than almost any owner-occupied loan funded from 2004-2007.
May 27, 2009 at 8:10 AM in reply to: Stupid refinance rule: Must live within 100 miles from property! #406409Participant[quote=briansd1]So?
I don’t see what’s wrong.
Lender have their good guidelines for their own reasons.
It makes senses to me. If you live too far from you rental you can’t manage it or properly supervise the property manager. Therefore you are a higher risk.
[/quote]
Although the OP was cirting a case from Wisconsin, the lender guideline was stated to be 100 miles.
100 miles is not really that far. Seems like a strict guideline. We’ve owned rental property for nearly a decade and currently live about 130 miles from it.
I guess the underwriters can cite any rule they want in order to reduce apparent risk. The funny thing is that there is likely significantly less risk in financing a 75% LTV for an out of state owner than almost any owner-occupied loan funded from 2004-2007.
May 27, 2009 at 8:10 AM in reply to: Stupid refinance rule: Must live within 100 miles from property! #406652Participant[quote=briansd1]So?
I don’t see what’s wrong.
Lender have their good guidelines for their own reasons.
It makes senses to me. If you live too far from you rental you can’t manage it or properly supervise the property manager. Therefore you are a higher risk.
[/quote]
Although the OP was cirting a case from Wisconsin, the lender guideline was stated to be 100 miles.
100 miles is not really that far. Seems like a strict guideline. We’ve owned rental property for nearly a decade and currently live about 130 miles from it.
I guess the underwriters can cite any rule they want in order to reduce apparent risk. The funny thing is that there is likely significantly less risk in financing a 75% LTV for an out of state owner than almost any owner-occupied loan funded from 2004-2007.
May 27, 2009 at 8:10 AM in reply to: Stupid refinance rule: Must live within 100 miles from property! #406715Participant[quote=briansd1]So?
I don’t see what’s wrong.
Lender have their good guidelines for their own reasons.
It makes senses to me. If you live too far from you rental you can’t manage it or properly supervise the property manager. Therefore you are a higher risk.
[/quote]
Although the OP was cirting a case from Wisconsin, the lender guideline was stated to be 100 miles.
100 miles is not really that far. Seems like a strict guideline. We’ve owned rental property for nearly a decade and currently live about 130 miles from it.
I guess the underwriters can cite any rule they want in order to reduce apparent risk. The funny thing is that there is likely significantly less risk in financing a 75% LTV for an out of state owner than almost any owner-occupied loan funded from 2004-2007.
May 27, 2009 at 8:10 AM in reply to: Stupid refinance rule: Must live within 100 miles from property! #406861Participant[quote=briansd1]So?
I don’t see what’s wrong.
Lender have their good guidelines for their own reasons.
It makes senses to me. If you live too far from you rental you can’t manage it or properly supervise the property manager. Therefore you are a higher risk.
[/quote]
Although the OP was cirting a case from Wisconsin, the lender guideline was stated to be 100 miles.
100 miles is not really that far. Seems like a strict guideline. We’ve owned rental property for nearly a decade and currently live about 130 miles from it.
I guess the underwriters can cite any rule they want in order to reduce apparent risk. The funny thing is that there is likely significantly less risk in financing a 75% LTV for an out of state owner than almost any owner-occupied loan funded from 2004-2007.
ParticipantThat is what’s printed monthly in the U-T
There is also historical data on the U-T website for the last decade or so.
We’ve pointed to this repeatedly here, but it’s probably been a year since the link was last posted, so here it is:
http://www.signonsandiego.com/sdhomes/area_homesales/index.php
ParticipantThat is what’s printed monthly in the U-T
There is also historical data on the U-T website for the last decade or so.
We’ve pointed to this repeatedly here, but it’s probably been a year since the link was last posted, so here it is:
http://www.signonsandiego.com/sdhomes/area_homesales/index.php
ParticipantThat is what’s printed monthly in the U-T
There is also historical data on the U-T website for the last decade or so.
We’ve pointed to this repeatedly here, but it’s probably been a year since the link was last posted, so here it is:
http://www.signonsandiego.com/sdhomes/area_homesales/index.php
ParticipantThat is what’s printed monthly in the U-T
There is also historical data on the U-T website for the last decade or so.
We’ve pointed to this repeatedly here, but it’s probably been a year since the link was last posted, so here it is:
http://www.signonsandiego.com/sdhomes/area_homesales/index.php
ParticipantThat is what’s printed monthly in the U-T
There is also historical data on the U-T website for the last decade or so.
We’ve pointed to this repeatedly here, but it’s probably been a year since the link was last posted, so here it is:
http://www.signonsandiego.com/sdhomes/area_homesales/index.php
Participant[quote=peterb]Takes a job to get a loan, to buy the house. And herein lies the problem for the future.
Loan mods need to have cramdowns, otherwise they’re not attractive alternatives to letting the property go back to the lender.
Yes, Japan managed to spread the problem over many years. Price corrections will not be denied by the market.[/quote]
Japan did not respond by turning on the printing presses in the same way the US has. As you point out the market will not be denied. One important aspect of that market is the supply of money.
Look at the chart in the link below.
Participant[quote=peterb]Takes a job to get a loan, to buy the house. And herein lies the problem for the future.
Loan mods need to have cramdowns, otherwise they’re not attractive alternatives to letting the property go back to the lender.
Yes, Japan managed to spread the problem over many years. Price corrections will not be denied by the market.[/quote]
Japan did not respond by turning on the printing presses in the same way the US has. As you point out the market will not be denied. One important aspect of that market is the supply of money.
Look at the chart in the link below.
Participant[quote=peterb]Takes a job to get a loan, to buy the house. And herein lies the problem for the future.
Loan mods need to have cramdowns, otherwise they’re not attractive alternatives to letting the property go back to the lender.
Yes, Japan managed to spread the problem over many years. Price corrections will not be denied by the market.[/quote]
Japan did not respond by turning on the printing presses in the same way the US has. As you point out the market will not be denied. One important aspect of that market is the supply of money.
Look at the chart in the link below.
-
AuthorPosts
