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(former)FormerSanDiegan
Participant[quote=jpinpb]Hold the phone, everyone. These are even uglier loans:
Remember those horrific option ARMs? Well they are now morphing into other products
Shocked yet? Well how about a 40 year IndyMac loan modification.
An example, Modified Unpaid Principal Balance 472,136. Maturity Date 6/1/46.I guess we’ll be kicking the can until it’s time for the newborns of today to be old enough buy.[/quote]
Looked at the link … Now those are some stinker loans !! Why not just have an indefinite-term interest-only loan ?
Participant[quote=patb][quote=FormerSanDiegan]That’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.[/quote]
this product is just expensive rent with a nasty termination fee.[/quote]
This is true for those of us without the funds to completely pay off the loan at any time.
However, for those who can, it is a cheap source of capital.
Participant[quote=patb][quote=FormerSanDiegan]That’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.[/quote]
this product is just expensive rent with a nasty termination fee.[/quote]
This is true for those of us without the funds to completely pay off the loan at any time.
However, for those who can, it is a cheap source of capital.
Participant[quote=patb][quote=FormerSanDiegan]That’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.[/quote]
this product is just expensive rent with a nasty termination fee.[/quote]
This is true for those of us without the funds to completely pay off the loan at any time.
However, for those who can, it is a cheap source of capital.
Participant[quote=patb][quote=FormerSanDiegan]That’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.[/quote]
this product is just expensive rent with a nasty termination fee.[/quote]
This is true for those of us without the funds to completely pay off the loan at any time.
However, for those who can, it is a cheap source of capital.
Participant[quote=patb][quote=FormerSanDiegan]That’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.[/quote]
this product is just expensive rent with a nasty termination fee.[/quote]
This is true for those of us without the funds to completely pay off the loan at any time.
However, for those who can, it is a cheap source of capital.
ParticipantThat’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.
ParticipantThat’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.
ParticipantThat’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.
ParticipantThat’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.
ParticipantThat’s why I suggest they might not fund these unless the LTV of 75% or better, likely 70%.
That way the lender has at least some additional protection against a declining market.Seems to me to be a reasonable risk at today’s price levels.
ParticipantThese loans, although scarce, never really went away. I suspect that the underwriting on them is pretty tight (e.g. 75% LTV or better, sufficient assets, and full documentation). These are not bad products for those who have sufficient assets (e.g. could pay off the loan at any time by liquidating accounts).
The real problem with these previously was that they were used with stated income and stated asset loans. These are not good products for those without sufficient assets to pay off a significant chunk of the loan.
ParticipantThese loans, although scarce, never really went away. I suspect that the underwriting on them is pretty tight (e.g. 75% LTV or better, sufficient assets, and full documentation). These are not bad products for those who have sufficient assets (e.g. could pay off the loan at any time by liquidating accounts).
The real problem with these previously was that they were used with stated income and stated asset loans. These are not good products for those without sufficient assets to pay off a significant chunk of the loan.
ParticipantThese loans, although scarce, never really went away. I suspect that the underwriting on them is pretty tight (e.g. 75% LTV or better, sufficient assets, and full documentation). These are not bad products for those who have sufficient assets (e.g. could pay off the loan at any time by liquidating accounts).
The real problem with these previously was that they were used with stated income and stated asset loans. These are not good products for those without sufficient assets to pay off a significant chunk of the loan.
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