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renterclint
ParticipantYes. The BIG smile on the girl’s face is hilarious!
Seriously though, this is a direct result of the banks taking on WAY too much risk. The regulators turned a blind eye to all of the 80/20 loan schemes. I understand that with prices this high, not many can save the old-standard 20% down payment, but PMI is an alternative to which the banks should have adhered. The 100% financing w/out PMI is just a bad deal for the banks.
Bad for the banks, but great for me. I can buy a house for $500k (0 downpayment), when “value” goes up $100k, I get the gains & the bank gets nothing (okay a little interest). And if the house goes down to $400k, I just leave the keys on the counter & leave the mess for the bank.
What a deal!
I’m still work in banking & let me tell you… it is ridiculous how the regulators are picking fights on slightest issues to try & save face with the public & show they’re now doing their job. If only they had done their job during the last few years of liar loans, option arms where the borrower could only qualify for the minimum partial-interest payment, & 100% financed loans w/out PMI.
ParticipantYes. The BIG smile on the girl’s face is hilarious!
Seriously though, this is a direct result of the banks taking on WAY too much risk. The regulators turned a blind eye to all of the 80/20 loan schemes. I understand that with prices this high, not many can save the old-standard 20% down payment, but PMI is an alternative to which the banks should have adhered. The 100% financing w/out PMI is just a bad deal for the banks.
Bad for the banks, but great for me. I can buy a house for $500k (0 downpayment), when “value” goes up $100k, I get the gains & the bank gets nothing (okay a little interest). And if the house goes down to $400k, I just leave the keys on the counter & leave the mess for the bank.
What a deal!
I’m still work in banking & let me tell you… it is ridiculous how the regulators are picking fights on slightest issues to try & save face with the public & show they’re now doing their job. If only they had done their job during the last few years of liar loans, option arms where the borrower could only qualify for the minimum partial-interest payment, & 100% financed loans w/out PMI.
ParticipantYes. The BIG smile on the girl’s face is hilarious!
Seriously though, this is a direct result of the banks taking on WAY too much risk. The regulators turned a blind eye to all of the 80/20 loan schemes. I understand that with prices this high, not many can save the old-standard 20% down payment, but PMI is an alternative to which the banks should have adhered. The 100% financing w/out PMI is just a bad deal for the banks.
Bad for the banks, but great for me. I can buy a house for $500k (0 downpayment), when “value” goes up $100k, I get the gains & the bank gets nothing (okay a little interest). And if the house goes down to $400k, I just leave the keys on the counter & leave the mess for the bank.
What a deal!
I’m still work in banking & let me tell you… it is ridiculous how the regulators are picking fights on slightest issues to try & save face with the public & show they’re now doing their job. If only they had done their job during the last few years of liar loans, option arms where the borrower could only qualify for the minimum partial-interest payment, & 100% financed loans w/out PMI.
ParticipantYes. The BIG smile on the girl’s face is hilarious!
Seriously though, this is a direct result of the banks taking on WAY too much risk. The regulators turned a blind eye to all of the 80/20 loan schemes. I understand that with prices this high, not many can save the old-standard 20% down payment, but PMI is an alternative to which the banks should have adhered. The 100% financing w/out PMI is just a bad deal for the banks.
Bad for the banks, but great for me. I can buy a house for $500k (0 downpayment), when “value” goes up $100k, I get the gains & the bank gets nothing (okay a little interest). And if the house goes down to $400k, I just leave the keys on the counter & leave the mess for the bank.
What a deal!
I’m still work in banking & let me tell you… it is ridiculous how the regulators are picking fights on slightest issues to try & save face with the public & show they’re now doing their job. If only they had done their job during the last few years of liar loans, option arms where the borrower could only qualify for the minimum partial-interest payment, & 100% financed loans w/out PMI.
ParticipantYes. The BIG smile on the girl’s face is hilarious!
Seriously though, this is a direct result of the banks taking on WAY too much risk. The regulators turned a blind eye to all of the 80/20 loan schemes. I understand that with prices this high, not many can save the old-standard 20% down payment, but PMI is an alternative to which the banks should have adhered. The 100% financing w/out PMI is just a bad deal for the banks.
Bad for the banks, but great for me. I can buy a house for $500k (0 downpayment), when “value” goes up $100k, I get the gains & the bank gets nothing (okay a little interest). And if the house goes down to $400k, I just leave the keys on the counter & leave the mess for the bank.
What a deal!
I’m still work in banking & let me tell you… it is ridiculous how the regulators are picking fights on slightest issues to try & save face with the public & show they’re now doing their job. If only they had done their job during the last few years of liar loans, option arms where the borrower could only qualify for the minimum partial-interest payment, & 100% financed loans w/out PMI.
ParticipantDang Temeculaguy!
Why would one need a realtor with you around? 🙂 That is some crazy knowledge of the market you have there…
ParticipantDang Temeculaguy!
Why would one need a realtor with you around? 🙂 That is some crazy knowledge of the market you have there…
ParticipantDang Temeculaguy!
Why would one need a realtor with you around? 🙂 That is some crazy knowledge of the market you have there…
ParticipantDang Temeculaguy!
Why would one need a realtor with you around? 🙂 That is some crazy knowledge of the market you have there…
ParticipantDang Temeculaguy!
Why would one need a realtor with you around? 🙂 That is some crazy knowledge of the market you have there…
January 18, 2008 at 9:56 PM in reply to: Hillary’s modest proposal (to wreck the housing market) #138519ParticipantThanks kewp,
I actually get it… that was my attempt at humor.
January 18, 2008 at 9:56 PM in reply to: Hillary’s modest proposal (to wreck the housing market) #138732ParticipantThanks kewp,
I actually get it… that was my attempt at humor.
January 18, 2008 at 9:56 PM in reply to: Hillary’s modest proposal (to wreck the housing market) #138754ParticipantThanks kewp,
I actually get it… that was my attempt at humor.
January 18, 2008 at 9:56 PM in reply to: Hillary’s modest proposal (to wreck the housing market) #138780ParticipantThanks kewp,
I actually get it… that was my attempt at humor.
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