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JWM in SD
Participant“JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading). ”
When am I not reading (much to the chagrin of my wife).
“My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees.”
You are probably right and deep down I know that is true as well because that is how I started out with my research into this when the Piggington site was really obscure and I had just moved to SD from Chicago in the Fall of 04. I started looking into the market when because I didn’t understand how the income levels could support prices of RE here. That was when I had discovered the exotic financing link. It took at least a year before I connected all of the dots into the mortgage lending industry and the excess liquidity spigot. At that point it became obvious that something nasty was brewing all across the country with some of the worst examples being here in SD.
The decision to not buy a house in 2005 was the smartest thing I have ever done in my entire life. Period. And that decision was hard fought because my wife was furious about it and I had her whole family railing on me over it. Now they don’t talk about it anymore.
Participant“JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading). ”
When am I not reading (much to the chagrin of my wife).
“My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees.”
You are probably right and deep down I know that is true as well because that is how I started out with my research into this when the Piggington site was really obscure and I had just moved to SD from Chicago in the Fall of 04. I started looking into the market when because I didn’t understand how the income levels could support prices of RE here. That was when I had discovered the exotic financing link. It took at least a year before I connected all of the dots into the mortgage lending industry and the excess liquidity spigot. At that point it became obvious that something nasty was brewing all across the country with some of the worst examples being here in SD.
The decision to not buy a house in 2005 was the smartest thing I have ever done in my entire life. Period. And that decision was hard fought because my wife was furious about it and I had her whole family railing on me over it. Now they don’t talk about it anymore.
Participant“JWM has been saying for as long as I can recall “why don’t people get this?” I think I was using the term “chicken little” for the really “negative” types at that point even though I was one of the most bearish ,especially for of the RE licensees. My apologies JWM(if you are reading). ”
When am I not reading (much to the chagrin of my wife).
“My guess, many people still think it is about “me”. My house value, my chance to time the market ect. ect. Something about forests and trees.”
You are probably right and deep down I know that is true as well because that is how I started out with my research into this when the Piggington site was really obscure and I had just moved to SD from Chicago in the Fall of 04. I started looking into the market when because I didn’t understand how the income levels could support prices of RE here. That was when I had discovered the exotic financing link. It took at least a year before I connected all of the dots into the mortgage lending industry and the excess liquidity spigot. At that point it became obvious that something nasty was brewing all across the country with some of the worst examples being here in SD.
The decision to not buy a house in 2005 was the smartest thing I have ever done in my entire life. Period. And that decision was hard fought because my wife was furious about it and I had her whole family railing on me over it. Now they don’t talk about it anymore.
Participant“Does anyone know of a lender who goes up to $700,000 no down, 100% finance, stated income and verified assets, 700 credit score?”
Oh man….buy now or be priced out forever Gael.
Participant“Does anyone know of a lender who goes up to $700,000 no down, 100% finance, stated income and verified assets, 700 credit score?”
Oh man….buy now or be priced out forever Gael.
ParticipantAllen, think the macro credit issues are what a lot of posters here still do not understand. I am in a very good position financially right now and the events in the past three weeks scare the hell out of me.
The candle is burning at boths as we speak and there are dimwits still coming to this site to ask about getting loans and buying overpriced property.
To all of those doubters who read this and think we are a bunch of loons. Good luck in the next 5 years suckers. Go buy a house right now and a 100%, no doc mortgage if you can still get it. Live it up now because you won’t be solvent in a few years.
ParticipantAllen, think the macro credit issues are what a lot of posters here still do not understand. I am in a very good position financially right now and the events in the past three weeks scare the hell out of me.
The candle is burning at boths as we speak and there are dimwits still coming to this site to ask about getting loans and buying overpriced property.
To all of those doubters who read this and think we are a bunch of loons. Good luck in the next 5 years suckers. Go buy a house right now and a 100%, no doc mortgage if you can still get it. Live it up now because you won’t be solvent in a few years.
ParticipantFrom NFCU website:
100% Financing—HomeBuyers Choice
Ideal for the first-time homebuyer:
15-, 30-, or 40-year fixed rates
No down payment required
No PMI required
Seller concessions up to 4% allowed
Maximum loan-to-value of 101.50%
(includes a HomeBuyers Choice Funding Fee, which can be financed into the loan amount)
Available for loans up to $850,000This makes me nervous as I have a lot of my family’s operating cash in NFCU.
ParticipantFrom NFCU website:
100% Financing—HomeBuyers Choice
Ideal for the first-time homebuyer:
15-, 30-, or 40-year fixed rates
No down payment required
No PMI required
Seller concessions up to 4% allowed
Maximum loan-to-value of 101.50%
(includes a HomeBuyers Choice Funding Fee, which can be financed into the loan amount)
Available for loans up to $850,000This makes me nervous as I have a lot of my family’s operating cash in NFCU.
ParticipantBingo, that’s were most of my excess cash is going right now.
ParticipantBingo, that’s were most of my excess cash is going right now.
Participant“I mean a lot of the posts are not real, isn’t it.”
No, they just call it Brokers Outpost to throw people off…they’re really a bunch of Plumbers who want to talk about mortgage lending…
Participant“I mean a lot of the posts are not real, isn’t it.”
No, they just call it Brokers Outpost to throw people off…they’re really a bunch of Plumbers who want to talk about mortgage lending…
Participant“They are just fooling around.”
Huh?
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