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peterb
ParticipantThe bear rally has ended. Time for the next leg down. Deflation on all assets that require credit is upon us. Save your cash.
ParticipantThe bear rally has ended. Time for the next leg down. Deflation on all assets that require credit is upon us. Save your cash.
ParticipantThe bear rally has ended. Time for the next leg down. Deflation on all assets that require credit is upon us. Save your cash.
ParticipantThe bear rally has ended. Time for the next leg down. Deflation on all assets that require credit is upon us. Save your cash.
ParticipantSee Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.
I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.ParticipantSee Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.
I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.ParticipantSee Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.
I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.ParticipantSee Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.
I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.ParticipantSee Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.
I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.August 28, 2008 at 12:20 PM in reply to: Los Angeles, San Diego Luxury-Home Prices Fall Most in Decade #262717ParticipantI agree with LA_Renter.For all those people on this site that have been wondering about why the better areas have not experienced much trouble yet, check out Mr Mortgage’s web site. The Pain Train will be pulling into their station soon. The big money loans made in the last 3 years are starting to crack in a serious way now. So check you local listings for any properties that were purchased in this time frame. Could be some opportuities there.
And in today’s new: RE investors that want to purchase homes and then rent them out are running into a wall for financing. Turns out banks now have no stomach for making loans to people who have two or more outstanding mortgages. So, you better have cash. Oh, this puts more downward pressure on prices, incidentally.
August 28, 2008 at 12:20 PM in reply to: Los Angeles, San Diego Luxury-Home Prices Fall Most in Decade #262923ParticipantI agree with LA_Renter.For all those people on this site that have been wondering about why the better areas have not experienced much trouble yet, check out Mr Mortgage’s web site. The Pain Train will be pulling into their station soon. The big money loans made in the last 3 years are starting to crack in a serious way now. So check you local listings for any properties that were purchased in this time frame. Could be some opportuities there.
And in today’s new: RE investors that want to purchase homes and then rent them out are running into a wall for financing. Turns out banks now have no stomach for making loans to people who have two or more outstanding mortgages. So, you better have cash. Oh, this puts more downward pressure on prices, incidentally.
August 28, 2008 at 12:20 PM in reply to: Los Angeles, San Diego Luxury-Home Prices Fall Most in Decade #262929ParticipantI agree with LA_Renter.For all those people on this site that have been wondering about why the better areas have not experienced much trouble yet, check out Mr Mortgage’s web site. The Pain Train will be pulling into their station soon. The big money loans made in the last 3 years are starting to crack in a serious way now. So check you local listings for any properties that were purchased in this time frame. Could be some opportuities there.
And in today’s new: RE investors that want to purchase homes and then rent them out are running into a wall for financing. Turns out banks now have no stomach for making loans to people who have two or more outstanding mortgages. So, you better have cash. Oh, this puts more downward pressure on prices, incidentally.
August 28, 2008 at 12:20 PM in reply to: Los Angeles, San Diego Luxury-Home Prices Fall Most in Decade #262981ParticipantI agree with LA_Renter.For all those people on this site that have been wondering about why the better areas have not experienced much trouble yet, check out Mr Mortgage’s web site. The Pain Train will be pulling into their station soon. The big money loans made in the last 3 years are starting to crack in a serious way now. So check you local listings for any properties that were purchased in this time frame. Could be some opportuities there.
And in today’s new: RE investors that want to purchase homes and then rent them out are running into a wall for financing. Turns out banks now have no stomach for making loans to people who have two or more outstanding mortgages. So, you better have cash. Oh, this puts more downward pressure on prices, incidentally.
August 28, 2008 at 12:20 PM in reply to: Los Angeles, San Diego Luxury-Home Prices Fall Most in Decade #263018ParticipantI agree with LA_Renter.For all those people on this site that have been wondering about why the better areas have not experienced much trouble yet, check out Mr Mortgage’s web site. The Pain Train will be pulling into their station soon. The big money loans made in the last 3 years are starting to crack in a serious way now. So check you local listings for any properties that were purchased in this time frame. Could be some opportuities there.
And in today’s new: RE investors that want to purchase homes and then rent them out are running into a wall for financing. Turns out banks now have no stomach for making loans to people who have two or more outstanding mortgages. So, you better have cash. Oh, this puts more downward pressure on prices, incidentally.
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