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Jan 30, 2009

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Mortgage

Economists not optimistic on stimulus legislation

The funny thing is...." you thought there would be change after the election"  (Feb 14, 2009 | post #7)

Mortgage

Bank industry slams lawmaker-Citi mortgage deal

If you're looking for a refi, you're out of lock. FHA is looking for 2 year out of a BK for a refi, and foreclosure on your CBR your out of lock on a refi for 5 year on a conventional loan; not to sure about VA if you have that option. You didn't go into forclosure, but on your CBR it will show as a 90 days down-which means forclosure has started. The way I understand, and I could be wrong, you don't need to reaffirm the mortgage, just keep making the payment. And remember, the bank and investor don't want the house so just keep sending in $$$ but don't short change them(payment is $1000 and you send in $200 a month). Just my thoughts on it.  (Feb 14, 2009 | post #2)

Mortgage

`We can say we tried'

You make me want to puke. Steak and Lobster taste on a ham sandwich budget.....got a house that he should have not gotten in the first place  (Feb 14, 2009 | post #105)

Mortgage

With so much anger to go around, Americans are growing numb

I agree,,,,If we could get CNN, MSN, FOX news, etc to all shut the hell up, people wouldn't think it is so bad. It's bad cause we think its bad cause its being shoved down our throats everyday.  (Feb 14, 2009 | post #3)

Mortgage

Borrowers hit with add-ons

This is correct. Now they are looking at this as a 1/2 investment property. A full investment property is getting a 1.5 dump to the points and a max LTV of 70% with perfect credit. I would if the duplex can still go through FHA; FHA doesn't do investment properties....I'll have to look into that.  (Feb 14, 2009 | post #2)

Mortgage

Is 'good' credit the best you can do?

Credit.......if you are looking to get the posted rates that you see on all mortgage companies web site you will need 3 things; credit score about 740, DTI below 40 (using provable income), and 30$ equity in the house. 1% of all home owners fall into this category. To answer the question, 'Is good credit the best I can do'? No, excellent credit is the best you can do, 740 +.  (Feb 14, 2009 | post #5)

Mortgage

Is 'good' credit the best you can do?

points arn't added to the rate. If the raste is 5.00 and you add .5 points to it.....that doesn't mean the rate is 5.5%. The rate will be 5.00% but the fees will increase by .5% of the loan size. Do you not understand what points are or what?  (Feb 14, 2009 | post #4)

Mortgage

Unfortunately, Central Florida appraiser right about real...

Everyone is to blame for this mess. http://www.theecon omicadvisor.com/20 09/02/11/the-great -housing-bubble-wh o-is-responsible/ The Great Housing Bubble - Who is Responsible? February 11th, 2009 Who is responsible for the Great Housing Bubble? It is one thing ....... see link  (Feb 14, 2009 | post #38)

Mortgage

Citigroup, JPMorgan, two big U.S. banks, halt foreclosures

good job, add to the problem  (Feb 14, 2009 | post #6)

Mortgage

Citigroup, JPMorgan, two big U.S. banks, halt foreclosures

Screw up? Please educate yourself before posting. Chase and Citi mortgage both, 83% of all the loans they services are sold to them by other mortgage companies; were are those mortgage companies now? OOB, Out Of Business. The other 17% of the loans, those loans aren't failing. Chase and Citi have the toughest guidelines in the industry. Not a perfect borrower, go someplace else, you suck. So these sucky borrowers went someplace else with no guidelines, then there loan was sold off before the ink was even dry to CHase, Citi, BofA, etc. Look at the number of loans that Chase or Citi wrote, those loans aren't failing.  (Feb 13, 2009 | post #2)

Mortgage

Proposing alternatives to stimulus package

Let the economy fall then rebuild it.  (Feb 8, 2009 | post #46)

Mortgage

Homebuyers save to make purchase

Agree here, we need to let this all fall apart then rebuild it.  (Feb 8, 2009 | post #12)

Mortgage

Homebuyers save to make purchase

Getting a mortgage doesn't mean you own anything... the mortgage comapny and the investor own that house until you pay it off. Those types of loans got us into the mortgage mess.  (Feb 8, 2009 | post #11)

Mortgage

Why won’t they modify my mortgage loan.

What a great link......no money for anyone. Let is fall, then rebuild.  (Feb 8, 2009 | post #5)

Mortgage

Fixed-mortgage rates fall below 5%

Dude.....you're wrong. People would pay there bills if they were employed. Lets send another 100,000 jobs to India, and another 100,000 to Mexico.....NAFTA sucks  (Feb 2, 2009 | post #32)