[HLS]

A teaser from WHOM ?

The loans are out there. Based on lender risk/reward, people with high credit scores who want to buy a primary residence are a risk that the lending industry is willing to take for a full doc loan.

They are in the lending business. The fact is that in the past the vast majority of people with high credit scores have not defaulted on their loans, even when upside down.

Of course they are going to have losses, and the next few years will be a test of their guidelines.

I didn’t say it was sane.

[HLS]

A teaser from WHOM ?

The loans are out there. Based on lender risk/reward, people with high credit scores who want to buy a primary residence are a risk that the lending industry is willing to take for a full doc loan.

They are in the lending business. The fact is that in the past the vast majority of people with high credit scores have not defaulted on their loans, even when upside down.

Of course they are going to have losses, and the next few years will be a test of their guidelines.

I didn’t say it was sane.

[HLS]

I don’t think there are any details yet. The market isn’t going to gobble up mortgage backed bonds without studying the risks…

Just because the limits were raised, buried into the “stimulus package” I think it could easily be 6 months or longer before loans are actually available, and the rates for the higher limits will probably be priced much higher than the conforming limits are today.

It is also possible that the FNMA/FHLMC raised limit rates will be higher than what jumbo rates are at today. (Oh My!)

The govt is serving up kool-aid in 5 gallon buckets to all that wasnt to drink it. I don’t even want a shot glass of their poison.

It’s an election year full of lies and deceit.
Hang on to your wallet.

[HLS]

I don’t think there are any details yet. The market isn’t going to gobble up mortgage backed bonds without studying the risks…

Just because the limits were raised, buried into the “stimulus package” I think it could easily be 6 months or longer before loans are actually available, and the rates for the higher limits will probably be priced much higher than the conforming limits are today.

It is also possible that the FNMA/FHLMC raised limit rates will be higher than what jumbo rates are at today. (Oh My!)

The govt is serving up kool-aid in 5 gallon buckets to all that wasnt to drink it. I don’t even want a shot glass of their poison.

It’s an election year full of lies and deceit.
Hang on to your wallet.

[HLS]

I don’t think there are any details yet. The market isn’t going to gobble up mortgage backed bonds without studying the risks…

Just because the limits were raised, buried into the “stimulus package” I think it could easily be 6 months or longer before loans are actually available, and the rates for the higher limits will probably be priced much higher than the conforming limits are today.

It is also possible that the FNMA/FHLMC raised limit rates will be higher than what jumbo rates are at today. (Oh My!)

The govt is serving up kool-aid in 5 gallon buckets to all that wasnt to drink it. I don’t even want a shot glass of their poison.

It’s an election year full of lies and deceit.
Hang on to your wallet.

[HLS]

I don’t think there are any details yet. The market isn’t going to gobble up mortgage backed bonds without studying the risks…

Just because the limits were raised, buried into the “stimulus package” I think it could easily be 6 months or longer before loans are actually available, and the rates for the higher limits will probably be priced much higher than the conforming limits are today.

It is also possible that the FNMA/FHLMC raised limit rates will be higher than what jumbo rates are at today. (Oh My!)

The govt is serving up kool-aid in 5 gallon buckets to all that wasnt to drink it. I don’t even want a shot glass of their poison.

It’s an election year full of lies and deceit.
Hang on to your wallet.

[HLS]

I don’t think there are any details yet. The market isn’t going to gobble up mortgage backed bonds without studying the risks…

Just because the limits were raised, buried into the “stimulus package” I think it could easily be 6 months or longer before loans are actually available, and the rates for the higher limits will probably be priced much higher than the conforming limits are today.

It is also possible that the FNMA/FHLMC raised limit rates will be higher than what jumbo rates are at today. (Oh My!)

The govt is serving up kool-aid in 5 gallon buckets to all that wasnt to drink it. I don’t even want a shot glass of their poison.

It’s an election year full of lies and deceit.
Hang on to your wallet.

[HLS]

You can make Countrywide your long term partner.
Consider continuing to pay on your 1st, but not on the 2nd.

It is doubtful that that CW will foreclose on the 2nd as they will get nothing today. It will remain as a lien on your property, and it will affect your credit scores, but it will also cut your losses every month.

It will allow you hang on a bit longer while you decide what to do. If it ever goes back up, you will have to deal with them or whoever owns the loan at that time.

If the HELOC was maxed out for the sole purpose of acquiring/purchasing the property, it “should” also be non-recourse debt, as well as the first.

Consult a CPA for your sitaution.
Considering that $1000 a month could be going into your retirement account, you are throwing away a huge amount of future net worth.

[HLS]

You can make Countrywide your long term partner.
Consider continuing to pay on your 1st, but not on the 2nd.

It is doubtful that that CW will foreclose on the 2nd as they will get nothing today. It will remain as a lien on your property, and it will affect your credit scores, but it will also cut your losses every month.

It will allow you hang on a bit longer while you decide what to do. If it ever goes back up, you will have to deal with them or whoever owns the loan at that time.

If the HELOC was maxed out for the sole purpose of acquiring/purchasing the property, it “should” also be non-recourse debt, as well as the first.

Consult a CPA for your sitaution.
Considering that $1000 a month could be going into your retirement account, you are throwing away a huge amount of future net worth.

[HLS]

You can make Countrywide your long term partner.
Consider continuing to pay on your 1st, but not on the 2nd.

It is doubtful that that CW will foreclose on the 2nd as they will get nothing today. It will remain as a lien on your property, and it will affect your credit scores, but it will also cut your losses every month.

It will allow you hang on a bit longer while you decide what to do. If it ever goes back up, you will have to deal with them or whoever owns the loan at that time.

If the HELOC was maxed out for the sole purpose of acquiring/purchasing the property, it “should” also be non-recourse debt, as well as the first.

Consult a CPA for your sitaution.
Considering that $1000 a month could be going into your retirement account, you are throwing away a huge amount of future net worth.

[HLS]

You can make Countrywide your long term partner.
Consider continuing to pay on your 1st, but not on the 2nd.

It is doubtful that that CW will foreclose on the 2nd as they will get nothing today. It will remain as a lien on your property, and it will affect your credit scores, but it will also cut your losses every month.

It will allow you hang on a bit longer while you decide what to do. If it ever goes back up, you will have to deal with them or whoever owns the loan at that time.

If the HELOC was maxed out for the sole purpose of acquiring/purchasing the property, it “should” also be non-recourse debt, as well as the first.

Consult a CPA for your sitaution.
Considering that $1000 a month could be going into your retirement account, you are throwing away a huge amount of future net worth.

[HLS]

You can make Countrywide your long term partner.
Consider continuing to pay on your 1st, but not on the 2nd.

It is doubtful that that CW will foreclose on the 2nd as they will get nothing today. It will remain as a lien on your property, and it will affect your credit scores, but it will also cut your losses every month.

It will allow you hang on a bit longer while you decide what to do. If it ever goes back up, you will have to deal with them or whoever owns the loan at that time.

If the HELOC was maxed out for the sole purpose of acquiring/purchasing the property, it “should” also be non-recourse debt, as well as the first.

Consult a CPA for your sitaution.
Considering that $1000 a month could be going into your retirement account, you are throwing away a huge amount of future net worth.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[HLS]

The fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…

I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.

The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)

There is a time when buying makes sense, but it’s still not that time in most areas of SD.

I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.

[Author]

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