Forum Replies Created
-
AuthorPosts
-
HLS
ParticipantWB…
It’s a complete manipulated scam condoned by the govt, allowing some people to make a fortune while others will lose big, although they have complete confidence in the system because the govt encourages it.. (wait a minute, did you ask me about the housing market OR the stock market ??)The average person refuses to accept what the stock market actually is (a casino), and feels forced to participate as the only option. Most are forced to only benefit from being on the long side, yet fortunes are made by true professionals who are on the short side.
It’s the equivalent of letting:
1st graders drive a car
2nd graders play college sports
3rd graders perform root canals
4th graders buy houses with no money downAny of these things might work for a while, but when the tide goes out and we find out who has been swimming naked it’s not going to be pretty.
Plenty of other alternatives..
Did you see this thread: http://piggington.com/confessions_of_a_wall_st_nihilist
Some people will make money but I believe that millions will be disillusioned when the bubble bursts and the result will make the current economic situation look like a booming goldrush.
Maybe not soon, but this will not pass forever.
ParticipantClosings should hold up for 30-45 days then fall off a cliff. New signed contracts should fall off a cliff starting today, except for any criminals who want to illegally backdate contracts to 04/30.
The current price of many homes dropped $10K-$40K in the last 24 hours. It will be interesting to see if the bidding wars continue by desperate buyers who are afraid of “missing out”
*************
The federal program was an $8000 rebate available to anybody who qualified.The $10K offer from CA is a TAX CREDIT taken over 3 years in equal installments and will not be available to all. There is a limited amount of money available. Some people who expect it will never see it.
There is a BIG difference between the two programs.
From a federal and state govt who are both beyond broke and an industry that claims how great things are, there should be no need for ANY incentives/rebates/credits.
The housing market has been on life support.
One of the IV’s just got pulled out. (It may need to get re-inserted) This can easily take a decade.
Many consumers are debt induced junkies who will now have to look elsewhere to get their fix.ParticipantClosings should hold up for 30-45 days then fall off a cliff. New signed contracts should fall off a cliff starting today, except for any criminals who want to illegally backdate contracts to 04/30.
The current price of many homes dropped $10K-$40K in the last 24 hours. It will be interesting to see if the bidding wars continue by desperate buyers who are afraid of “missing out”
*************
The federal program was an $8000 rebate available to anybody who qualified.The $10K offer from CA is a TAX CREDIT taken over 3 years in equal installments and will not be available to all. There is a limited amount of money available. Some people who expect it will never see it.
There is a BIG difference between the two programs.
From a federal and state govt who are both beyond broke and an industry that claims how great things are, there should be no need for ANY incentives/rebates/credits.
The housing market has been on life support.
One of the IV’s just got pulled out. (It may need to get re-inserted) This can easily take a decade.
Many consumers are debt induced junkies who will now have to look elsewhere to get their fix.ParticipantClosings should hold up for 30-45 days then fall off a cliff. New signed contracts should fall off a cliff starting today, except for any criminals who want to illegally backdate contracts to 04/30.
The current price of many homes dropped $10K-$40K in the last 24 hours. It will be interesting to see if the bidding wars continue by desperate buyers who are afraid of “missing out”
*************
The federal program was an $8000 rebate available to anybody who qualified.The $10K offer from CA is a TAX CREDIT taken over 3 years in equal installments and will not be available to all. There is a limited amount of money available. Some people who expect it will never see it.
There is a BIG difference between the two programs.
From a federal and state govt who are both beyond broke and an industry that claims how great things are, there should be no need for ANY incentives/rebates/credits.
The housing market has been on life support.
One of the IV’s just got pulled out. (It may need to get re-inserted) This can easily take a decade.
Many consumers are debt induced junkies who will now have to look elsewhere to get their fix.ParticipantClosings should hold up for 30-45 days then fall off a cliff. New signed contracts should fall off a cliff starting today, except for any criminals who want to illegally backdate contracts to 04/30.
The current price of many homes dropped $10K-$40K in the last 24 hours. It will be interesting to see if the bidding wars continue by desperate buyers who are afraid of “missing out”
*************
The federal program was an $8000 rebate available to anybody who qualified.The $10K offer from CA is a TAX CREDIT taken over 3 years in equal installments and will not be available to all. There is a limited amount of money available. Some people who expect it will never see it.
There is a BIG difference between the two programs.
From a federal and state govt who are both beyond broke and an industry that claims how great things are, there should be no need for ANY incentives/rebates/credits.
The housing market has been on life support.
One of the IV’s just got pulled out. (It may need to get re-inserted) This can easily take a decade.
Many consumers are debt induced junkies who will now have to look elsewhere to get their fix.ParticipantClosings should hold up for 30-45 days then fall off a cliff. New signed contracts should fall off a cliff starting today, except for any criminals who want to illegally backdate contracts to 04/30.
The current price of many homes dropped $10K-$40K in the last 24 hours. It will be interesting to see if the bidding wars continue by desperate buyers who are afraid of “missing out”
*************
The federal program was an $8000 rebate available to anybody who qualified.The $10K offer from CA is a TAX CREDIT taken over 3 years in equal installments and will not be available to all. There is a limited amount of money available. Some people who expect it will never see it.
There is a BIG difference between the two programs.
From a federal and state govt who are both beyond broke and an industry that claims how great things are, there should be no need for ANY incentives/rebates/credits.
The housing market has been on life support.
One of the IV’s just got pulled out. (It may need to get re-inserted) This can easily take a decade.
Many consumers are debt induced junkies who will now have to look elsewhere to get their fix.ParticipantEven without 20% equity you may qualify for a refi without mortgage insurance. If you don’t qualify for a lower rate without MI then additional cash is an option. Equity is only one part of being able to refi.
If you have the cash to get yourself into a better loan and plan on staying there regardless of market conditions and have the ability to save tens of thousands of dollars by doing so why would you hesitate ?
If the house drops in value but you are staying there for 15-20 years anyway, why waste tens of thousands of dollars in interest if you can avoid it ?
It depends on the value today and how much cash you will need but when you figure out the guaranteed return on the investment the guaranteed return will be incredible.
1. If you stay in the loan you are in you are definitely wasting money every month,
2. By putting more cash in you will have a much lower payment guaranteed and recoup the savings over a defined period of time.If you don’t qualify to refi then you are like millions of others who are just stuck in a high rate with no options. Foreclosure and/or selling are options if they cannot afford their payments.
There are not too many things that are guaranteed today.. HLS
ParticipantEven without 20% equity you may qualify for a refi without mortgage insurance. If you don’t qualify for a lower rate without MI then additional cash is an option. Equity is only one part of being able to refi.
If you have the cash to get yourself into a better loan and plan on staying there regardless of market conditions and have the ability to save tens of thousands of dollars by doing so why would you hesitate ?
If the house drops in value but you are staying there for 15-20 years anyway, why waste tens of thousands of dollars in interest if you can avoid it ?
It depends on the value today and how much cash you will need but when you figure out the guaranteed return on the investment the guaranteed return will be incredible.
1. If you stay in the loan you are in you are definitely wasting money every month,
2. By putting more cash in you will have a much lower payment guaranteed and recoup the savings over a defined period of time.If you don’t qualify to refi then you are like millions of others who are just stuck in a high rate with no options. Foreclosure and/or selling are options if they cannot afford their payments.
There are not too many things that are guaranteed today.. HLS
ParticipantEven without 20% equity you may qualify for a refi without mortgage insurance. If you don’t qualify for a lower rate without MI then additional cash is an option. Equity is only one part of being able to refi.
If you have the cash to get yourself into a better loan and plan on staying there regardless of market conditions and have the ability to save tens of thousands of dollars by doing so why would you hesitate ?
If the house drops in value but you are staying there for 15-20 years anyway, why waste tens of thousands of dollars in interest if you can avoid it ?
It depends on the value today and how much cash you will need but when you figure out the guaranteed return on the investment the guaranteed return will be incredible.
1. If you stay in the loan you are in you are definitely wasting money every month,
2. By putting more cash in you will have a much lower payment guaranteed and recoup the savings over a defined period of time.If you don’t qualify to refi then you are like millions of others who are just stuck in a high rate with no options. Foreclosure and/or selling are options if they cannot afford their payments.
There are not too many things that are guaranteed today.. HLS
ParticipantEven without 20% equity you may qualify for a refi without mortgage insurance. If you don’t qualify for a lower rate without MI then additional cash is an option. Equity is only one part of being able to refi.
If you have the cash to get yourself into a better loan and plan on staying there regardless of market conditions and have the ability to save tens of thousands of dollars by doing so why would you hesitate ?
If the house drops in value but you are staying there for 15-20 years anyway, why waste tens of thousands of dollars in interest if you can avoid it ?
It depends on the value today and how much cash you will need but when you figure out the guaranteed return on the investment the guaranteed return will be incredible.
1. If you stay in the loan you are in you are definitely wasting money every month,
2. By putting more cash in you will have a much lower payment guaranteed and recoup the savings over a defined period of time.If you don’t qualify to refi then you are like millions of others who are just stuck in a high rate with no options. Foreclosure and/or selling are options if they cannot afford their payments.
There are not too many things that are guaranteed today.. HLS
ParticipantEven without 20% equity you may qualify for a refi without mortgage insurance. If you don’t qualify for a lower rate without MI then additional cash is an option. Equity is only one part of being able to refi.
If you have the cash to get yourself into a better loan and plan on staying there regardless of market conditions and have the ability to save tens of thousands of dollars by doing so why would you hesitate ?
If the house drops in value but you are staying there for 15-20 years anyway, why waste tens of thousands of dollars in interest if you can avoid it ?
It depends on the value today and how much cash you will need but when you figure out the guaranteed return on the investment the guaranteed return will be incredible.
1. If you stay in the loan you are in you are definitely wasting money every month,
2. By putting more cash in you will have a much lower payment guaranteed and recoup the savings over a defined period of time.If you don’t qualify to refi then you are like millions of others who are just stuck in a high rate with no options. Foreclosure and/or selling are options if they cannot afford their payments.
There are not too many things that are guaranteed today.. HLS
ParticipantThe 41% DTI is a mortgage insurance company requirement, not a F/F requirement.
With at least 20% down it is still possible to approach 50% of income as a back end ratio which means all of your monthly minimum payments on a credit report + houisng expense. If you have no credit card debt/student loans/car payments etc, you can approach 50% of income with just your housing expense.
It’s the 2nd biggest Ponzi scheme condoned by the govt. The largest Ponzi scheme is 401K’s & other retirement accounts. What will save America ???
ParticipantThe 41% DTI is a mortgage insurance company requirement, not a F/F requirement.
With at least 20% down it is still possible to approach 50% of income as a back end ratio which means all of your monthly minimum payments on a credit report + houisng expense. If you have no credit card debt/student loans/car payments etc, you can approach 50% of income with just your housing expense.
It’s the 2nd biggest Ponzi scheme condoned by the govt. The largest Ponzi scheme is 401K’s & other retirement accounts. What will save America ???
ParticipantThe 41% DTI is a mortgage insurance company requirement, not a F/F requirement.
With at least 20% down it is still possible to approach 50% of income as a back end ratio which means all of your monthly minimum payments on a credit report + houisng expense. If you have no credit card debt/student loans/car payments etc, you can approach 50% of income with just your housing expense.
It’s the 2nd biggest Ponzi scheme condoned by the govt. The largest Ponzi scheme is 401K’s & other retirement accounts. What will save America ???
-
AuthorPosts
