My house is my house

You need a down payment now?

[AVGWarhawk]

Originally Posted by The Third Man

You need a down payment now?

Not always...sometimes you can roll it all into the loan!

Originally Posted by AVGWarhawk

Not always...sometimes you can roll it all into the loan!

I put down 20%. But that was I had it and didn't want to pay another middleman.

I think Ducimus just hasn't realised the possibilities.

[AVGWarhawk]

The housing market is in such shambles today I would think banks would do just about anything to get a home off their roles.

[SteamWake]

Originally Posted by The Third Man

You need a down payment now?

LOL funny boy...

Getting a mortgage right now is rough... really rough. Simply put the banks arent lending because the rates are so low and the margins suck.

Now getting a second mortgage...

By the way I saw you listed 300K as the 'low' end of home prices in Ca. That is about twice what the 'low' end of homes in Florida. My current house we paid 150,000.00 for. Yea it needs a little work but its a nice house in a decent neighborhood.

[AVGWarhawk]

Getting a mortgage right now is rough... really rough. Simply put the banks arent lending because the rates are so low and the margins suck.

It is more so that the banks want to lend however the insurers of the loan want the banks to keep the amount loaned on hand in case the loan is defaulted on by a high risk customer. By doing this the bank can not make money. Hence loans are very hard to obtain if you are considered a high risk. It is more important then ever to keep your credit clean.

[SteamWake]

Its not just high risk patrons. Small buisnesses and pepole with good credit have alot more hoops to jump through to secure loans now.

By the way did you see that 50% of the pepole whom recieved federal aid to help with their high risk mortagages have defaulted?

http://www.washingtonpost.com/wp-dyn...082005643.html

Shocking I know.

Well it was a good election year stunt if nothing else. But it sure isnt going to help matters.

[mookiemookie]

Read it today and couldn't agree more:

The U.S. housing sector is clearly double-dipping — that dive to 3.83 million units in July undercut the “depression” low of January 2009 by 15%! The lesson for the government is that their ‘tax goodies’ do nothing more than distort the market rather than actually help out.

[AVGWarhawk]

Originally Posted by SteamWake

Its not just high risk patrons. Small buisnesses and pepole with good credit have alot more hoops to jump through to secure loans now.

By the way did you see that 50% of the pepole whom recieved federal aid to help with their high risk mortagages have defaulted?

http://www.washingtonpost.com/wp-dyn...082005643.html

Shocking I know.

Well it was a good election year stunt if nothing else. But it sure isnt going to help matters.

Not shocked at all. It was good money being thrown after bad money. It was a cash grab and handled poorly.

[August]

Originally Posted by AVGWarhawk

Not shocked at all. It was good money being thrown after bad money. It was a cash grab and handled poorly.

On the other hand it did help 50% of the people in the program.

Half empty or half full it's still holding half of the water...

[AVGWarhawk]

Good point August!