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temeculaguy
Participantsd, thanks, for the joke of the week and the advice on short sales, I wont avoid them any more.
Participantsd, thanks, for the joke of the week and the advice on short sales, I wont avoid them any more.
Participantsd, thanks, for the joke of the week and the advice on short sales, I wont avoid them any more.
Participantsd, now that is funny! A little sick, but funny.
side question sd, what is the timeline today for shorts, not the extremes but the average these days. I used to avoid them but found one I like and I have time and flexibility in my rental, are we talking 2 months from offer to close? 3? 4? And can I back out if they take too long and the value drops before they answer?
Participantsd, now that is funny! A little sick, but funny.
side question sd, what is the timeline today for shorts, not the extremes but the average these days. I used to avoid them but found one I like and I have time and flexibility in my rental, are we talking 2 months from offer to close? 3? 4? And can I back out if they take too long and the value drops before they answer?
Participantsd, now that is funny! A little sick, but funny.
side question sd, what is the timeline today for shorts, not the extremes but the average these days. I used to avoid them but found one I like and I have time and flexibility in my rental, are we talking 2 months from offer to close? 3? 4? And can I back out if they take too long and the value drops before they answer?
Participantsd, now that is funny! A little sick, but funny.
side question sd, what is the timeline today for shorts, not the extremes but the average these days. I used to avoid them but found one I like and I have time and flexibility in my rental, are we talking 2 months from offer to close? 3? 4? And can I back out if they take too long and the value drops before they answer?
Participantsd, now that is funny! A little sick, but funny.
side question sd, what is the timeline today for shorts, not the extremes but the average these days. I used to avoid them but found one I like and I have time and flexibility in my rental, are we talking 2 months from offer to close? 3? 4? And can I back out if they take too long and the value drops before they answer?
ParticipantPart of the FHA save your home segment of the bill
“Lenders would also agree to pay upfront fees to the FHA equal to 3% of a home’s appraised value. Borrowers must agree to pay an annual premium to the FHA equal to 1.5% of their new loan balance and they must also agree to share with the government any profit they realize from selling or refinancing their home.”
You think paying property taxes blows, the FHA insurance is equal to or higher than property taxes. Let me get this straight, if you are an FB, you are facing a reset, you can refi with FHA if the lender writes off 10% of the debt, pays FHA 3% and the borrower get to double their property taxes in effect, forever. Quick, get in line, this thing is going to be bigger than the iphone line.
someone tell me where I read it wrong, lets say typical S.D. FB, 500k mortgage on 400k value home, paying 2k on a teaser rate on 100k salary. New P&I is 3150 at 6.5, out the door is 4k, they arent making it.
FHA to the rescue:
New bill is 90% of debt thanks to goodness of lenders heart. 450k debt. But FHA is a higher rate usually so $2990 P&I, taxes on 400k reworked is 400-600 mo and the new fha insurance premium is 600 mo., total payment…….4k, hey, thanks for “saving” people. Now house goes into foreclosure but on fha’s dime, not countryfried’s.
Oh, Yeah, if yo make it through the downturn and realize a profit, they want half for helping you. If the mafia did this they would be jailed. What part of this will make people stay in their homes?
ParticipantPart of the FHA save your home segment of the bill
“Lenders would also agree to pay upfront fees to the FHA equal to 3% of a home’s appraised value. Borrowers must agree to pay an annual premium to the FHA equal to 1.5% of their new loan balance and they must also agree to share with the government any profit they realize from selling or refinancing their home.”
You think paying property taxes blows, the FHA insurance is equal to or higher than property taxes. Let me get this straight, if you are an FB, you are facing a reset, you can refi with FHA if the lender writes off 10% of the debt, pays FHA 3% and the borrower get to double their property taxes in effect, forever. Quick, get in line, this thing is going to be bigger than the iphone line.
someone tell me where I read it wrong, lets say typical S.D. FB, 500k mortgage on 400k value home, paying 2k on a teaser rate on 100k salary. New P&I is 3150 at 6.5, out the door is 4k, they arent making it.
FHA to the rescue:
New bill is 90% of debt thanks to goodness of lenders heart. 450k debt. But FHA is a higher rate usually so $2990 P&I, taxes on 400k reworked is 400-600 mo and the new fha insurance premium is 600 mo., total payment…….4k, hey, thanks for “saving” people. Now house goes into foreclosure but on fha’s dime, not countryfried’s.
Oh, Yeah, if yo make it through the downturn and realize a profit, they want half for helping you. If the mafia did this they would be jailed. What part of this will make people stay in their homes?
ParticipantPart of the FHA save your home segment of the bill
“Lenders would also agree to pay upfront fees to the FHA equal to 3% of a home’s appraised value. Borrowers must agree to pay an annual premium to the FHA equal to 1.5% of their new loan balance and they must also agree to share with the government any profit they realize from selling or refinancing their home.”
You think paying property taxes blows, the FHA insurance is equal to or higher than property taxes. Let me get this straight, if you are an FB, you are facing a reset, you can refi with FHA if the lender writes off 10% of the debt, pays FHA 3% and the borrower get to double their property taxes in effect, forever. Quick, get in line, this thing is going to be bigger than the iphone line.
someone tell me where I read it wrong, lets say typical S.D. FB, 500k mortgage on 400k value home, paying 2k on a teaser rate on 100k salary. New P&I is 3150 at 6.5, out the door is 4k, they arent making it.
FHA to the rescue:
New bill is 90% of debt thanks to goodness of lenders heart. 450k debt. But FHA is a higher rate usually so $2990 P&I, taxes on 400k reworked is 400-600 mo and the new fha insurance premium is 600 mo., total payment…….4k, hey, thanks for “saving” people. Now house goes into foreclosure but on fha’s dime, not countryfried’s.
Oh, Yeah, if yo make it through the downturn and realize a profit, they want half for helping you. If the mafia did this they would be jailed. What part of this will make people stay in their homes?
ParticipantPart of the FHA save your home segment of the bill
“Lenders would also agree to pay upfront fees to the FHA equal to 3% of a home’s appraised value. Borrowers must agree to pay an annual premium to the FHA equal to 1.5% of their new loan balance and they must also agree to share with the government any profit they realize from selling or refinancing their home.”
You think paying property taxes blows, the FHA insurance is equal to or higher than property taxes. Let me get this straight, if you are an FB, you are facing a reset, you can refi with FHA if the lender writes off 10% of the debt, pays FHA 3% and the borrower get to double their property taxes in effect, forever. Quick, get in line, this thing is going to be bigger than the iphone line.
someone tell me where I read it wrong, lets say typical S.D. FB, 500k mortgage on 400k value home, paying 2k on a teaser rate on 100k salary. New P&I is 3150 at 6.5, out the door is 4k, they arent making it.
FHA to the rescue:
New bill is 90% of debt thanks to goodness of lenders heart. 450k debt. But FHA is a higher rate usually so $2990 P&I, taxes on 400k reworked is 400-600 mo and the new fha insurance premium is 600 mo., total payment…….4k, hey, thanks for “saving” people. Now house goes into foreclosure but on fha’s dime, not countryfried’s.
Oh, Yeah, if yo make it through the downturn and realize a profit, they want half for helping you. If the mafia did this they would be jailed. What part of this will make people stay in their homes?
ParticipantPart of the FHA save your home segment of the bill
“Lenders would also agree to pay upfront fees to the FHA equal to 3% of a home’s appraised value. Borrowers must agree to pay an annual premium to the FHA equal to 1.5% of their new loan balance and they must also agree to share with the government any profit they realize from selling or refinancing their home.”
You think paying property taxes blows, the FHA insurance is equal to or higher than property taxes. Let me get this straight, if you are an FB, you are facing a reset, you can refi with FHA if the lender writes off 10% of the debt, pays FHA 3% and the borrower get to double their property taxes in effect, forever. Quick, get in line, this thing is going to be bigger than the iphone line.
someone tell me where I read it wrong, lets say typical S.D. FB, 500k mortgage on 400k value home, paying 2k on a teaser rate on 100k salary. New P&I is 3150 at 6.5, out the door is 4k, they arent making it.
FHA to the rescue:
New bill is 90% of debt thanks to goodness of lenders heart. 450k debt. But FHA is a higher rate usually so $2990 P&I, taxes on 400k reworked is 400-600 mo and the new fha insurance premium is 600 mo., total payment…….4k, hey, thanks for “saving” people. Now house goes into foreclosure but on fha’s dime, not countryfried’s.
Oh, Yeah, if yo make it through the downturn and realize a profit, they want half for helping you. If the mafia did this they would be jailed. What part of this will make people stay in their homes?
ParticipantThat article was straight from the press release, I’m willing to bet there is more to the story. A quick search revealed one that is a little more in depth.
http://www.sun-sentinel.com/news/custom/fringe/sns-ap-foreclosure-suicide,0,428261.story?track=rss
Turns out she hadn’t paid the mortgage in 42 months, and intercepted/shredded all the notices from the bank, the husband never knew. So where did 42 mortgage payments go? We can speculate but in a few days the rest may come out or it may never be revealed to the public because we don’t need to know. It made news because of the timing and because it is being blamed on foreclosure, I’m guessing that there was another underlying reason that could no longer be concealed.
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