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April 8, 2008 at 8:50 AM in reply to: OT: Mexico reconquers California? Absolut drinks to that! #182745April 8, 2008 at 8:50 AM in reply to: OT: Mexico reconquers California? Absolut drinks to that! #182773
NotCranky
Participant“We already have a guest-worker program. It is just not officially sanctioned by the US Government.”
This is the way the guest worker program is sanctioned:
You want to do that grueling labor or shit work for 8 dollars an hour? “Be my guest”.April 8, 2008 at 8:50 AM in reply to: OT: Mexico reconquers California? Absolut drinks to that! #182779NotCranky
Participant“We already have a guest-worker program. It is just not officially sanctioned by the US Government.”
This is the way the guest worker program is sanctioned:
You want to do that grueling labor or shit work for 8 dollars an hour? “Be my guest”.April 8, 2008 at 8:50 AM in reply to: OT: Mexico reconquers California? Absolut drinks to that! #182786NotCranky
Participant“We already have a guest-worker program. It is just not officially sanctioned by the US Government.”
This is the way the guest worker program is sanctioned:
You want to do that grueling labor or shit work for 8 dollars an hour? “Be my guest”.NotCranky
ParticipantNothing wrong with 20% down just not required.I don’t think anyone should feel bad or sit out the market ONLY because they don’t have it. I used a 5% down on my first house and VA no no on my second. The third was quite a different story and the next whatever it takes to get investment properties when I am ready.
Yes Vagabondo many, if not most,low down payment loans will go upside down.They have before I don’t make the rules. Most people pay them in normal times and lenders caluculate the risks in normal times too.
BobS. I don’t know right off hand I’ll ask around.There are some mortgage guys here. I am not sure if contraman orginates loans or just works in finance. Maybe SDR can say if he checks this thread. I had heard a rumor of a 90/10 program at Pacific First Trust Bank a few months ago but I wouldn’t count on finding it there anymore.
Contraman. There are two points: Do you need 20% down which is being spread as an accidental rumor cleared up and spread again. I don’t know why? Then buy vs. rent for what a lot of people want is still out of whack(prices too high). No to the first yes to the second. Which one did I miss?
NotCranky
ParticipantNothing wrong with 20% down just not required.I don’t think anyone should feel bad or sit out the market ONLY because they don’t have it. I used a 5% down on my first house and VA no no on my second. The third was quite a different story and the next whatever it takes to get investment properties when I am ready.
Yes Vagabondo many, if not most,low down payment loans will go upside down.They have before I don’t make the rules. Most people pay them in normal times and lenders caluculate the risks in normal times too.
BobS. I don’t know right off hand I’ll ask around.There are some mortgage guys here. I am not sure if contraman orginates loans or just works in finance. Maybe SDR can say if he checks this thread. I had heard a rumor of a 90/10 program at Pacific First Trust Bank a few months ago but I wouldn’t count on finding it there anymore.
Contraman. There are two points: Do you need 20% down which is being spread as an accidental rumor cleared up and spread again. I don’t know why? Then buy vs. rent for what a lot of people want is still out of whack(prices too high). No to the first yes to the second. Which one did I miss?
NotCranky
ParticipantNothing wrong with 20% down just not required.I don’t think anyone should feel bad or sit out the market ONLY because they don’t have it. I used a 5% down on my first house and VA no no on my second. The third was quite a different story and the next whatever it takes to get investment properties when I am ready.
Yes Vagabondo many, if not most,low down payment loans will go upside down.They have before I don’t make the rules. Most people pay them in normal times and lenders caluculate the risks in normal times too.
BobS. I don’t know right off hand I’ll ask around.There are some mortgage guys here. I am not sure if contraman orginates loans or just works in finance. Maybe SDR can say if he checks this thread. I had heard a rumor of a 90/10 program at Pacific First Trust Bank a few months ago but I wouldn’t count on finding it there anymore.
Contraman. There are two points: Do you need 20% down which is being spread as an accidental rumor cleared up and spread again. I don’t know why? Then buy vs. rent for what a lot of people want is still out of whack(prices too high). No to the first yes to the second. Which one did I miss?
NotCranky
ParticipantNothing wrong with 20% down just not required.I don’t think anyone should feel bad or sit out the market ONLY because they don’t have it. I used a 5% down on my first house and VA no no on my second. The third was quite a different story and the next whatever it takes to get investment properties when I am ready.
Yes Vagabondo many, if not most,low down payment loans will go upside down.They have before I don’t make the rules. Most people pay them in normal times and lenders caluculate the risks in normal times too.
BobS. I don’t know right off hand I’ll ask around.There are some mortgage guys here. I am not sure if contraman orginates loans or just works in finance. Maybe SDR can say if he checks this thread. I had heard a rumor of a 90/10 program at Pacific First Trust Bank a few months ago but I wouldn’t count on finding it there anymore.
Contraman. There are two points: Do you need 20% down which is being spread as an accidental rumor cleared up and spread again. I don’t know why? Then buy vs. rent for what a lot of people want is still out of whack(prices too high). No to the first yes to the second. Which one did I miss?
NotCranky
ParticipantNothing wrong with 20% down just not required.I don’t think anyone should feel bad or sit out the market ONLY because they don’t have it. I used a 5% down on my first house and VA no no on my second. The third was quite a different story and the next whatever it takes to get investment properties when I am ready.
Yes Vagabondo many, if not most,low down payment loans will go upside down.They have before I don’t make the rules. Most people pay them in normal times and lenders caluculate the risks in normal times too.
BobS. I don’t know right off hand I’ll ask around.There are some mortgage guys here. I am not sure if contraman orginates loans or just works in finance. Maybe SDR can say if he checks this thread. I had heard a rumor of a 90/10 program at Pacific First Trust Bank a few months ago but I wouldn’t count on finding it there anymore.
Contraman. There are two points: Do you need 20% down which is being spread as an accidental rumor cleared up and spread again. I don’t know why? Then buy vs. rent for what a lot of people want is still out of whack(prices too high). No to the first yes to the second. Which one did I miss?
NotCranky
ParticipantBuying is not smart with those numbers (Contraman’s), but why do people keep saying you need 20% down? People with good income good credit don’t need 20% down. On houses where 20% down equals the 60k to 80k that everyone is throwing around here you don’t need it. Anybody buying a house where 20% down is required should have it, or forget it. There is nothing wrong with buying a fairly priced, modest house with less down and it is still very available for people with good income and credit. I am not saying buy. I am asking why is this 20% all of the sudden a wrench in anything? Mortgage insurers are resetting LTV standards to 95-97% and raising Fico score requirements a little. Stated income is largely going the way of the dodo bird. It might get tougher but it isn’t yet.
NotCranky
ParticipantBuying is not smart with those numbers (Contraman’s), but why do people keep saying you need 20% down? People with good income good credit don’t need 20% down. On houses where 20% down equals the 60k to 80k that everyone is throwing around here you don’t need it. Anybody buying a house where 20% down is required should have it, or forget it. There is nothing wrong with buying a fairly priced, modest house with less down and it is still very available for people with good income and credit. I am not saying buy. I am asking why is this 20% all of the sudden a wrench in anything? Mortgage insurers are resetting LTV standards to 95-97% and raising Fico score requirements a little. Stated income is largely going the way of the dodo bird. It might get tougher but it isn’t yet.
NotCranky
ParticipantBuying is not smart with those numbers (Contraman’s), but why do people keep saying you need 20% down? People with good income good credit don’t need 20% down. On houses where 20% down equals the 60k to 80k that everyone is throwing around here you don’t need it. Anybody buying a house where 20% down is required should have it, or forget it. There is nothing wrong with buying a fairly priced, modest house with less down and it is still very available for people with good income and credit. I am not saying buy. I am asking why is this 20% all of the sudden a wrench in anything? Mortgage insurers are resetting LTV standards to 95-97% and raising Fico score requirements a little. Stated income is largely going the way of the dodo bird. It might get tougher but it isn’t yet.
NotCranky
ParticipantBuying is not smart with those numbers (Contraman’s), but why do people keep saying you need 20% down? People with good income good credit don’t need 20% down. On houses where 20% down equals the 60k to 80k that everyone is throwing around here you don’t need it. Anybody buying a house where 20% down is required should have it, or forget it. There is nothing wrong with buying a fairly priced, modest house with less down and it is still very available for people with good income and credit. I am not saying buy. I am asking why is this 20% all of the sudden a wrench in anything? Mortgage insurers are resetting LTV standards to 95-97% and raising Fico score requirements a little. Stated income is largely going the way of the dodo bird. It might get tougher but it isn’t yet.
NotCranky
ParticipantBuying is not smart with those numbers (Contraman’s), but why do people keep saying you need 20% down? People with good income good credit don’t need 20% down. On houses where 20% down equals the 60k to 80k that everyone is throwing around here you don’t need it. Anybody buying a house where 20% down is required should have it, or forget it. There is nothing wrong with buying a fairly priced, modest house with less down and it is still very available for people with good income and credit. I am not saying buy. I am asking why is this 20% all of the sudden a wrench in anything? Mortgage insurers are resetting LTV standards to 95-97% and raising Fico score requirements a little. Stated income is largely going the way of the dodo bird. It might get tougher but it isn’t yet.
NotCranky
ParticipantYour point is correct too alarmclock.However. Data does not a real estate market make. Why is that O.K.for us to claim that in 2005 but not 2008,9,10? Yeah the market stinks but it is starting to have potential. I bought a property in 2004 and my neigbor just bought the one next to me for nearly 3 times that. No no no, the data says that can’t happen.
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