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Huckleberry
ParticipantI didn’t realize the Homeowner Affordability and Stability Plan excluded exotic mortgages, is this correct? So, nobody with Alt-A, pay-option, or jumbos can use this program to refi?
This makes a HUGE difference in the coastal areas!
ParticipantI didn’t realize the Homeowner Affordability and Stability Plan excluded exotic mortgages, is this correct? So, nobody with Alt-A, pay-option, or jumbos can use this program to refi?
This makes a HUGE difference in the coastal areas!
ParticipantI didn’t realize the Homeowner Affordability and Stability Plan excluded exotic mortgages, is this correct? So, nobody with Alt-A, pay-option, or jumbos can use this program to refi?
This makes a HUGE difference in the coastal areas!
ParticipantJP,
“Where do you get only 12% of mortgages in 92109 are under water?”
http://www.signonsandiego.com/news/metro/images/20090216underwater.pdf
I don’t wish poor fortune on anyone, but I really was hoping there would be more 92109 upside-down mortgages.
I am starting to think, with the increased conventional loan limits and the Homeowner Affordability and Stability Plan, many PB homes will be refinanced, saving them from the Alt-A problems and making houses unattainable for the next few years, until prices come back in line with incomes. Unless of course like you said, many got HELOC’s and just blew them…
You mention “short of a miracle I don’t know what’s going to save it.” How much (percentage wise) do you think PB may correct and in what time frames?
I keep waiting for that area to fall there along with other high priced areas, but it seems to be very “sticky”.
What’s your take on this?
ParticipantJP,
“Where do you get only 12% of mortgages in 92109 are under water?”
http://www.signonsandiego.com/news/metro/images/20090216underwater.pdf
I don’t wish poor fortune on anyone, but I really was hoping there would be more 92109 upside-down mortgages.
I am starting to think, with the increased conventional loan limits and the Homeowner Affordability and Stability Plan, many PB homes will be refinanced, saving them from the Alt-A problems and making houses unattainable for the next few years, until prices come back in line with incomes. Unless of course like you said, many got HELOC’s and just blew them…
You mention “short of a miracle I don’t know what’s going to save it.” How much (percentage wise) do you think PB may correct and in what time frames?
I keep waiting for that area to fall there along with other high priced areas, but it seems to be very “sticky”.
What’s your take on this?
ParticipantJP,
“Where do you get only 12% of mortgages in 92109 are under water?”
http://www.signonsandiego.com/news/metro/images/20090216underwater.pdf
I don’t wish poor fortune on anyone, but I really was hoping there would be more 92109 upside-down mortgages.
I am starting to think, with the increased conventional loan limits and the Homeowner Affordability and Stability Plan, many PB homes will be refinanced, saving them from the Alt-A problems and making houses unattainable for the next few years, until prices come back in line with incomes. Unless of course like you said, many got HELOC’s and just blew them…
You mention “short of a miracle I don’t know what’s going to save it.” How much (percentage wise) do you think PB may correct and in what time frames?
I keep waiting for that area to fall there along with other high priced areas, but it seems to be very “sticky”.
What’s your take on this?
ParticipantJP,
“Where do you get only 12% of mortgages in 92109 are under water?”
http://www.signonsandiego.com/news/metro/images/20090216underwater.pdf
I don’t wish poor fortune on anyone, but I really was hoping there would be more 92109 upside-down mortgages.
I am starting to think, with the increased conventional loan limits and the Homeowner Affordability and Stability Plan, many PB homes will be refinanced, saving them from the Alt-A problems and making houses unattainable for the next few years, until prices come back in line with incomes. Unless of course like you said, many got HELOC’s and just blew them…
You mention “short of a miracle I don’t know what’s going to save it.” How much (percentage wise) do you think PB may correct and in what time frames?
I keep waiting for that area to fall there along with other high priced areas, but it seems to be very “sticky”.
What’s your take on this?
ParticipantJP,
“Where do you get only 12% of mortgages in 92109 are under water?”
http://www.signonsandiego.com/news/metro/images/20090216underwater.pdf
I don’t wish poor fortune on anyone, but I really was hoping there would be more 92109 upside-down mortgages.
I am starting to think, with the increased conventional loan limits and the Homeowner Affordability and Stability Plan, many PB homes will be refinanced, saving them from the Alt-A problems and making houses unattainable for the next few years, until prices come back in line with incomes. Unless of course like you said, many got HELOC’s and just blew them…
You mention “short of a miracle I don’t know what’s going to save it.” How much (percentage wise) do you think PB may correct and in what time frames?
I keep waiting for that area to fall there along with other high priced areas, but it seems to be very “sticky”.
What’s your take on this?
ParticipantJP,
Considering you are an expert in the PB area. What are your thoughts about the potential price correction in the future for all of 92109?
Considering these things:
– Only 12% of mortgages in the 92109 zip are underwater.– Once the stimulus goes through (w/ no principal write down for non-conforming and no Jumbo provisions).
– Significantly tighter lending standards.
– The pending Alt-A & Pay Option ARM issues.
– Incomes and prices still out of whack.
– Any other issues I may have forgotten specific to this area.
ParticipantJP,
Considering you are an expert in the PB area. What are your thoughts about the potential price correction in the future for all of 92109?
Considering these things:
– Only 12% of mortgages in the 92109 zip are underwater.– Once the stimulus goes through (w/ no principal write down for non-conforming and no Jumbo provisions).
– Significantly tighter lending standards.
– The pending Alt-A & Pay Option ARM issues.
– Incomes and prices still out of whack.
– Any other issues I may have forgotten specific to this area.
ParticipantJP,
Considering you are an expert in the PB area. What are your thoughts about the potential price correction in the future for all of 92109?
Considering these things:
– Only 12% of mortgages in the 92109 zip are underwater.– Once the stimulus goes through (w/ no principal write down for non-conforming and no Jumbo provisions).
– Significantly tighter lending standards.
– The pending Alt-A & Pay Option ARM issues.
– Incomes and prices still out of whack.
– Any other issues I may have forgotten specific to this area.
ParticipantJP,
Considering you are an expert in the PB area. What are your thoughts about the potential price correction in the future for all of 92109?
Considering these things:
– Only 12% of mortgages in the 92109 zip are underwater.– Once the stimulus goes through (w/ no principal write down for non-conforming and no Jumbo provisions).
– Significantly tighter lending standards.
– The pending Alt-A & Pay Option ARM issues.
– Incomes and prices still out of whack.
– Any other issues I may have forgotten specific to this area.
ParticipantJP,
Considering you are an expert in the PB area. What are your thoughts about the potential price correction in the future for all of 92109?
Considering these things:
– Only 12% of mortgages in the 92109 zip are underwater.– Once the stimulus goes through (w/ no principal write down for non-conforming and no Jumbo provisions).
– Significantly tighter lending standards.
– The pending Alt-A & Pay Option ARM issues.
– Incomes and prices still out of whack.
– Any other issues I may have forgotten specific to this area.
ParticipantNot only that, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.
This will in no way help stimulate home buying, especially in CA where mortgage interest is higher than anywhere else in the country…
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