Forum Replies Created
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Pasadena Broker
Participant“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”
It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.
This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.
Participant“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”
It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.
This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.
Participant“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”
It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.
This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.
Participant“It just sounds like free money to everyone again. It doesn’t say they’re raising the Jumbo limit strictly for those already in homes, excluding new buyers. That would be beyond stupid. They want more people on the hook.”
It’s is beyond stupid but haven’t you seen the pattern yet with our gubermint? They’re not doing this for the new homebuyers but to save all the bad decision making done by people that will be foreclosed, it’ll benefit them the most since no lender will touch these people with a 30 ft pole.
This is bad news, the liars, hucksters, and thieves were being weeded out from April 07 til now, but this might have them stampede right back into this business,heh, lucky me.
ParticipantAh, sd, you got the email…
I’ve had my Realtors here asking me/telling me my business is going to be jumping once the changes go into affect. I’ve also had fellow associates in the mortgage brokering business rubbing their hands hoping as well.
You’re right sd, there is a 5% declining/softening market that has gone into affect. The problem I see with this increase is three fold.
One, we’re prolonging the natural cycle of where we ought to be heading with this market, and I’m sure I can get an ‘amen’ from the Pigg crowd on this. Someone on Capital Hill is smoking some good green to think this one up.
Two, this isn’t for new homebuyers but for all the ones underwater. Under-water, yup, mortgage outweighs the equity. So how in the hell is this going to help them refi out of that fantastico Option Arm, 80/20 purchase, 2/28 or 2/27 loan? Loan limits raised, hey that’s great, but Mr. Borrower, you don’t have the equity, can you bring $50K to escrow?
Three, FHA loans are FULL DOC. All the $500K+ loans were stated income. What underwriter is going to be convinced that the welder guy and his receptionist wife make $150K a year when salary info can easily be looked up Salary.com?
It’s just another way of blowing smoke by the thieving, lying bastards on Capital Hill and Sacto, they’re scrambling because we’re knee deep in poo. I’d say ‘go Ron Paul’ but that guy would probably get shot if he were to get anywhere near the White House.
Oh, btw, if none of this makes sense, my apology. I get my point across much better in person than writing. I’m a verbal type of guy.
ParticipantAh, sd, you got the email…
I’ve had my Realtors here asking me/telling me my business is going to be jumping once the changes go into affect. I’ve also had fellow associates in the mortgage brokering business rubbing their hands hoping as well.
You’re right sd, there is a 5% declining/softening market that has gone into affect. The problem I see with this increase is three fold.
One, we’re prolonging the natural cycle of where we ought to be heading with this market, and I’m sure I can get an ‘amen’ from the Pigg crowd on this. Someone on Capital Hill is smoking some good green to think this one up.
Two, this isn’t for new homebuyers but for all the ones underwater. Under-water, yup, mortgage outweighs the equity. So how in the hell is this going to help them refi out of that fantastico Option Arm, 80/20 purchase, 2/28 or 2/27 loan? Loan limits raised, hey that’s great, but Mr. Borrower, you don’t have the equity, can you bring $50K to escrow?
Three, FHA loans are FULL DOC. All the $500K+ loans were stated income. What underwriter is going to be convinced that the welder guy and his receptionist wife make $150K a year when salary info can easily be looked up Salary.com?
It’s just another way of blowing smoke by the thieving, lying bastards on Capital Hill and Sacto, they’re scrambling because we’re knee deep in poo. I’d say ‘go Ron Paul’ but that guy would probably get shot if he were to get anywhere near the White House.
Oh, btw, if none of this makes sense, my apology. I get my point across much better in person than writing. I’m a verbal type of guy.
ParticipantAh, sd, you got the email…
I’ve had my Realtors here asking me/telling me my business is going to be jumping once the changes go into affect. I’ve also had fellow associates in the mortgage brokering business rubbing their hands hoping as well.
You’re right sd, there is a 5% declining/softening market that has gone into affect. The problem I see with this increase is three fold.
One, we’re prolonging the natural cycle of where we ought to be heading with this market, and I’m sure I can get an ‘amen’ from the Pigg crowd on this. Someone on Capital Hill is smoking some good green to think this one up.
Two, this isn’t for new homebuyers but for all the ones underwater. Under-water, yup, mortgage outweighs the equity. So how in the hell is this going to help them refi out of that fantastico Option Arm, 80/20 purchase, 2/28 or 2/27 loan? Loan limits raised, hey that’s great, but Mr. Borrower, you don’t have the equity, can you bring $50K to escrow?
Three, FHA loans are FULL DOC. All the $500K+ loans were stated income. What underwriter is going to be convinced that the welder guy and his receptionist wife make $150K a year when salary info can easily be looked up Salary.com?
It’s just another way of blowing smoke by the thieving, lying bastards on Capital Hill and Sacto, they’re scrambling because we’re knee deep in poo. I’d say ‘go Ron Paul’ but that guy would probably get shot if he were to get anywhere near the White House.
Oh, btw, if none of this makes sense, my apology. I get my point across much better in person than writing. I’m a verbal type of guy.
ParticipantAh, sd, you got the email…
I’ve had my Realtors here asking me/telling me my business is going to be jumping once the changes go into affect. I’ve also had fellow associates in the mortgage brokering business rubbing their hands hoping as well.
You’re right sd, there is a 5% declining/softening market that has gone into affect. The problem I see with this increase is three fold.
One, we’re prolonging the natural cycle of where we ought to be heading with this market, and I’m sure I can get an ‘amen’ from the Pigg crowd on this. Someone on Capital Hill is smoking some good green to think this one up.
Two, this isn’t for new homebuyers but for all the ones underwater. Under-water, yup, mortgage outweighs the equity. So how in the hell is this going to help them refi out of that fantastico Option Arm, 80/20 purchase, 2/28 or 2/27 loan? Loan limits raised, hey that’s great, but Mr. Borrower, you don’t have the equity, can you bring $50K to escrow?
Three, FHA loans are FULL DOC. All the $500K+ loans were stated income. What underwriter is going to be convinced that the welder guy and his receptionist wife make $150K a year when salary info can easily be looked up Salary.com?
It’s just another way of blowing smoke by the thieving, lying bastards on Capital Hill and Sacto, they’re scrambling because we’re knee deep in poo. I’d say ‘go Ron Paul’ but that guy would probably get shot if he were to get anywhere near the White House.
Oh, btw, if none of this makes sense, my apology. I get my point across much better in person than writing. I’m a verbal type of guy.
ParticipantAh, sd, you got the email…
I’ve had my Realtors here asking me/telling me my business is going to be jumping once the changes go into affect. I’ve also had fellow associates in the mortgage brokering business rubbing their hands hoping as well.
You’re right sd, there is a 5% declining/softening market that has gone into affect. The problem I see with this increase is three fold.
One, we’re prolonging the natural cycle of where we ought to be heading with this market, and I’m sure I can get an ‘amen’ from the Pigg crowd on this. Someone on Capital Hill is smoking some good green to think this one up.
Two, this isn’t for new homebuyers but for all the ones underwater. Under-water, yup, mortgage outweighs the equity. So how in the hell is this going to help them refi out of that fantastico Option Arm, 80/20 purchase, 2/28 or 2/27 loan? Loan limits raised, hey that’s great, but Mr. Borrower, you don’t have the equity, can you bring $50K to escrow?
Three, FHA loans are FULL DOC. All the $500K+ loans were stated income. What underwriter is going to be convinced that the welder guy and his receptionist wife make $150K a year when salary info can easily be looked up Salary.com?
It’s just another way of blowing smoke by the thieving, lying bastards on Capital Hill and Sacto, they’re scrambling because we’re knee deep in poo. I’d say ‘go Ron Paul’ but that guy would probably get shot if he were to get anywhere near the White House.
Oh, btw, if none of this makes sense, my apology. I get my point across much better in person than writing. I’m a verbal type of guy.
ParticipantFlu, sd, dw, gun
There are some that get it, others that don’t and never will until their experiences are similar.
Gun you make an excellent point. I come from working class immigrants and know what poor is. My parents came here with nothing, borrowed money, saved money and opened a liquor store (care to guess the stereotypical race I am?). I was working a cash register after school when I was 8 years old by standing on a milk crate so I can reach the register keys. The family business taught me a lot in terms of work ethic, credit (my father gave out credit to the customers in the neighborhood, the concept of charging interest was foreign to him), and working with people which I guess is why I’ve always been drawn to sales. While my father was the one that taught me the value of a dollar, it was my mother that instilled my moral compass which gave me the foresight to walk away from a lot of deals that so many in my industry were doing without a second thought.
Believe me, I am scared as well flu. I can say that I’ve weathered some personal storms that would take out most of the ‘bring it on’ braggers but this one that’s coming is without trying to sound dramatic, epic. Being a history buff, I look for patterns. The pattern this country is experiencing right now would go back to the 1930’s when the decade before was deemed the Roaring 20’s for a reason but it’s much worse, more money, more people, speed of infomation, etc. And on a side note, you can’t teach or persuade someone to be empathetic. You either have it or you don’t. While I really enjoy reading all of your very well written and empathetic opinions, convincing anyone on this board is a waste of time. Without fail there’s always a prick opinionated self centered view, but hey, they have their place in this world.
ParticipantFlu, sd, dw, gun
There are some that get it, others that don’t and never will until their experiences are similar.
Gun you make an excellent point. I come from working class immigrants and know what poor is. My parents came here with nothing, borrowed money, saved money and opened a liquor store (care to guess the stereotypical race I am?). I was working a cash register after school when I was 8 years old by standing on a milk crate so I can reach the register keys. The family business taught me a lot in terms of work ethic, credit (my father gave out credit to the customers in the neighborhood, the concept of charging interest was foreign to him), and working with people which I guess is why I’ve always been drawn to sales. While my father was the one that taught me the value of a dollar, it was my mother that instilled my moral compass which gave me the foresight to walk away from a lot of deals that so many in my industry were doing without a second thought.
Believe me, I am scared as well flu. I can say that I’ve weathered some personal storms that would take out most of the ‘bring it on’ braggers but this one that’s coming is without trying to sound dramatic, epic. Being a history buff, I look for patterns. The pattern this country is experiencing right now would go back to the 1930’s when the decade before was deemed the Roaring 20’s for a reason but it’s much worse, more money, more people, speed of infomation, etc. And on a side note, you can’t teach or persuade someone to be empathetic. You either have it or you don’t. While I really enjoy reading all of your very well written and empathetic opinions, convincing anyone on this board is a waste of time. Without fail there’s always a prick opinionated self centered view, but hey, they have their place in this world.
ParticipantFlu, sd, dw, gun
There are some that get it, others that don’t and never will until their experiences are similar.
Gun you make an excellent point. I come from working class immigrants and know what poor is. My parents came here with nothing, borrowed money, saved money and opened a liquor store (care to guess the stereotypical race I am?). I was working a cash register after school when I was 8 years old by standing on a milk crate so I can reach the register keys. The family business taught me a lot in terms of work ethic, credit (my father gave out credit to the customers in the neighborhood, the concept of charging interest was foreign to him), and working with people which I guess is why I’ve always been drawn to sales. While my father was the one that taught me the value of a dollar, it was my mother that instilled my moral compass which gave me the foresight to walk away from a lot of deals that so many in my industry were doing without a second thought.
Believe me, I am scared as well flu. I can say that I’ve weathered some personal storms that would take out most of the ‘bring it on’ braggers but this one that’s coming is without trying to sound dramatic, epic. Being a history buff, I look for patterns. The pattern this country is experiencing right now would go back to the 1930’s when the decade before was deemed the Roaring 20’s for a reason but it’s much worse, more money, more people, speed of infomation, etc. And on a side note, you can’t teach or persuade someone to be empathetic. You either have it or you don’t. While I really enjoy reading all of your very well written and empathetic opinions, convincing anyone on this board is a waste of time. Without fail there’s always a prick opinionated self centered view, but hey, they have their place in this world.
ParticipantFlu, sd, dw, gun
There are some that get it, others that don’t and never will until their experiences are similar.
Gun you make an excellent point. I come from working class immigrants and know what poor is. My parents came here with nothing, borrowed money, saved money and opened a liquor store (care to guess the stereotypical race I am?). I was working a cash register after school when I was 8 years old by standing on a milk crate so I can reach the register keys. The family business taught me a lot in terms of work ethic, credit (my father gave out credit to the customers in the neighborhood, the concept of charging interest was foreign to him), and working with people which I guess is why I’ve always been drawn to sales. While my father was the one that taught me the value of a dollar, it was my mother that instilled my moral compass which gave me the foresight to walk away from a lot of deals that so many in my industry were doing without a second thought.
Believe me, I am scared as well flu. I can say that I’ve weathered some personal storms that would take out most of the ‘bring it on’ braggers but this one that’s coming is without trying to sound dramatic, epic. Being a history buff, I look for patterns. The pattern this country is experiencing right now would go back to the 1930’s when the decade before was deemed the Roaring 20’s for a reason but it’s much worse, more money, more people, speed of infomation, etc. And on a side note, you can’t teach or persuade someone to be empathetic. You either have it or you don’t. While I really enjoy reading all of your very well written and empathetic opinions, convincing anyone on this board is a waste of time. Without fail there’s always a prick opinionated self centered view, but hey, they have their place in this world.
ParticipantFlu, sd, dw, gun
There are some that get it, others that don’t and never will until their experiences are similar.
Gun you make an excellent point. I come from working class immigrants and know what poor is. My parents came here with nothing, borrowed money, saved money and opened a liquor store (care to guess the stereotypical race I am?). I was working a cash register after school when I was 8 years old by standing on a milk crate so I can reach the register keys. The family business taught me a lot in terms of work ethic, credit (my father gave out credit to the customers in the neighborhood, the concept of charging interest was foreign to him), and working with people which I guess is why I’ve always been drawn to sales. While my father was the one that taught me the value of a dollar, it was my mother that instilled my moral compass which gave me the foresight to walk away from a lot of deals that so many in my industry were doing without a second thought.
Believe me, I am scared as well flu. I can say that I’ve weathered some personal storms that would take out most of the ‘bring it on’ braggers but this one that’s coming is without trying to sound dramatic, epic. Being a history buff, I look for patterns. The pattern this country is experiencing right now would go back to the 1930’s when the decade before was deemed the Roaring 20’s for a reason but it’s much worse, more money, more people, speed of infomation, etc. And on a side note, you can’t teach or persuade someone to be empathetic. You either have it or you don’t. While I really enjoy reading all of your very well written and empathetic opinions, convincing anyone on this board is a waste of time. Without fail there’s always a prick opinionated self centered view, but hey, they have their place in this world.
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