[LA_Renter]

You Can Still ADVERTISE for Risky Loans

“Mike Larson, a real estate analyst for Weiss Research in Jupiter, Fla., said that “the nicest” way to describe these companies is that they are “optimists,” adding, “Even if they get a customer in the door this way, it’s going to be a lot harder to qualify that customer than it was six months ago.”

I think if you read the article it points out that this is how mortgages are advertised to attract attention. It ponts out that these risky loans cannot be sold in the secondary market and the likelyhood of getting throughescrow are very small. The credit crunch is very real and mortgages are going to be to tough for some time to come.

[LA_Renter]

I don’t have a problem with it, it’s good information.

[LA_Renter]

I don’t have a problem with it, it’s good information.

[LA_Renter]

I don’t have a problem with it, it’s good information.

[LA_Renter]

Thanks Ex-SD, I always wonder when I post if it is already floating around out there.

[LA_Renter]

Thanks Ex-SD, I always wonder when I post if it is already floating around out there.

[LA_Renter]

Thanks Ex-SD, I always wonder when I post if it is already floating around out there.

[LA_Renter]

Interesting theater between Ben and the Market. You know Japan dropped to zero and turned the spigots on. I wonder if we will be talking about the US Dollar carry trade in the near future??

[LA_Renter]

Interesting theater between Ben and the Market. You know Japan dropped to zero and turned the spigots on. I wonder if we will be talking about the US Dollar carry trade in the near future??

[LA_Renter]

Interesting theater between Ben and the Market. You know Japan dropped to zero and turned the spigots on. I wonder if we will be talking about the US Dollar carry trade in the near future??

[LA_Renter]

Yep

“Aug. 20 (Bloomberg) — Ten-year Treasuries gained, extending last week’s rally, on signs the credit crunch in the U.S. will cost jobs and may slow the economy.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=amqiquHVCfHI&refer=home

Not exactly bullish

Is the FED going to be pushing on a string at this point??

[LA_Renter]

Yep

“Aug. 20 (Bloomberg) — Ten-year Treasuries gained, extending last week’s rally, on signs the credit crunch in the U.S. will cost jobs and may slow the economy.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=amqiquHVCfHI&refer=home

Not exactly bullish

Is the FED going to be pushing on a string at this point??

[LA_Renter]

Yep

“Aug. 20 (Bloomberg) — Ten-year Treasuries gained, extending last week’s rally, on signs the credit crunch in the U.S. will cost jobs and may slow the economy.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=amqiquHVCfHI&refer=home

Not exactly bullish

Is the FED going to be pushing on a string at this point??

[LA_Renter]

That letter represents the perfect world for me. It shows how much Demand there is for people that actually have credit. My overall strategy in all of this mess is to wait until the lending standards weed out the weak hands and reward those of us that are financially responsible (didn’t the lending standards of yesteryear provide a barrier of entry for homeownership predicated on a downpayment and one’s ability to pay??). There will be a point where lending standards will be at there tightest which will leave a small pool of legitimate potential buyers choosing from a peak inventory of properties left in the wake of this debacle (they will not be cheap by any stretch but within reason). I just simply refused to compete for properties, that I would have to stretch myself to the maximum reasonable limit, with people of much lesser means. No I am not a snob that is just common sense. IMO right now is not the time to buy, there are still alot of weeds to be pulled. My biggest fear/concern is a major bailout of some sort. I don’t mind the FED taking steps to ensure the whole house of cards doesn’t fall but there is a growing drum beat on Wall Street wanting major action in regards to RE. There is a saying “be careful what you wish for you just might get it”. A major bailout would have ramifications beyond housing. I just hope our new Fed Chairman knows this and doesn’t fall prey to the financial/political pressures mounting with each and every day.

[LA_Renter]

That letter represents the perfect world for me. It shows how much Demand there is for people that actually have credit. My overall strategy in all of this mess is to wait until the lending standards weed out the weak hands and reward those of us that are financially responsible (didn’t the lending standards of yesteryear provide a barrier of entry for homeownership predicated on a downpayment and one’s ability to pay??). There will be a point where lending standards will be at there tightest which will leave a small pool of legitimate potential buyers choosing from a peak inventory of properties left in the wake of this debacle (they will not be cheap by any stretch but within reason). I just simply refused to compete for properties, that I would have to stretch myself to the maximum reasonable limit, with people of much lesser means. No I am not a snob that is just common sense. IMO right now is not the time to buy, there are still alot of weeds to be pulled. My biggest fear/concern is a major bailout of some sort. I don’t mind the FED taking steps to ensure the whole house of cards doesn’t fall but there is a growing drum beat on Wall Street wanting major action in regards to RE. There is a saying “be careful what you wish for you just might get it”. A major bailout would have ramifications beyond housing. I just hope our new Fed Chairman knows this and doesn’t fall prey to the financial/political pressures mounting with each and every day.

[Author]

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