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Regarding Interest Rates, When is the Best Time to Lock?
2007-10-16 17:00:00
When it comes to mortgage loans and interest rates, it's never a good idea to gamble. That's why I typically advise my clients to lock in an interest rate at the earliest opportunity. This is just one step of the standardized system we have put in place to ensure the best possible loan experience for each borrower that we work with. A mortgage loan cannot be closed without a locked-in rate, and there are three main elements to take into consideration: Interest Rate Points or fees Length of the lock Lock ing in a rate does not obligate the borrower to commit to the loan until the loan is actually closed. The lock is merely a security measure designed to eliminate the risk of market volatility throughout the duration of the purchase or refinance transaction. As long as the loan is approved and funded before the end of the lock period, the borrower will receive the interest rate quoted. When a lender permits an extended lock-in period, the borrower will likely face a higher inter...
More About: Interest Rates , Time , Rates

What Lenders Look for in Home Loan Applications
2007-10-15 19:00:00
Once your loan application is filled out and sent to the lender for review, the first thing they will look for is your ability to payback the loan you are requesting. My team and I have a streamlined loan process to help you get your ducks in a row prior to this review. A grand slam loan package is in perfect order and answers all the important questions up front. We know what the lenders are looking for, based on long-term relationships with them and extensive knowledge of guidelines for a multitude of loan programs that are available today. What is the lender looking for when they review the loan application? The lender wants to know about your personal financial picture, including savings and credit history and your employment stability. The co-borrower's history is also taken into consideration. The lender also considers the loan amount and appraised value of the home you are looking to purchase. Not every applicant is approved the first time through the process. If the under...
More About: Applications , Home , Loan , Lenders , Enders

Everybody loses when builders slash prices
2007-10-15 11:19:00
Last month, K. Hovnanian Homes, the nation's sixth-largest builder, showed just how low builders are willing to drop prices. It held what was called the "Sale of the Century" and dropped prices of its unsold inventory in nineteen states, including California, by jaw-dropping amounts: i.e., $300,000 off a $2-million model in Orange County. Some of the price drops were accomplished through financing incentives and "free upgrades", but the mere announcement of the three-day sale caused Hovnanian's stock to jump 9.2%. This was great for the builder, which had just posted a third-quarter loss and a 27% decline in sales. It sold 2,100 homes in the three days, compared with 2,579 homes sold in the three months ending July 31. This desperation from the builders causes the market to drop in more then one way. Say you have a house on the market at $500,000 and the houses in the surrounding neighborhoods with similar values. If the builder drops the home price to $400,000, they essentially ...
More About: Builders , Slash , Builder , Prices , Everybody

Burning Real Estate Questions Answered
2007-10-14 16:48:00
Got a Real Estate question? It’s Ask Gena in Sacramento time once again. We have several Real Estate questions from our readers so let’s get right to them. Buyer Question: I’m trying to understand this as a hopeful buyer…If an ad says “subject to short sale” and bank approval, owner motivated” if they are asking say $150,000, can I just offer like say $130,000? Will the bank take lower offers, or are you stuck with the asking price? I’m new a this and on an extremely limited budget. Thanks. Dear Potential Short Sale Buyer, there is no quick answer to your question. All banks are different depending on how much is owed on the property in short sale and if there is a second on the property. Meaning if there are two different loans. One may agree and the other may not. Typically, whatever the house is listed for (in this case–$150,000), what is owed is more than likely much more. The bank has a bottom line that they will accept and if they don’t get it, then they...
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Trigger Leads need to be stopped.
2007-10-13 09:44:00
Did you know that the major credit bureaus sell your personal information? It's true! Known as "trigger leads", the files of borrowers applying for a home loan are immediately flagged, packaged, and sold by the credit bureaus to the highest bidders. For about $25 to $100 or more, your name and certain specifics about your credit report, including your address, phone number, mortgage history, and even your FICO score range, are sold to unscrupulous mortgage companies which then blindly solicit your business. This results in numerous unwanted phone calls and junk mail offers which are in no way associated with your real estate agent or loan professional. Unfortunately, no legislation presently exists to prevent the credit bureaus from profiting at your expense. As a trigger lead, you are simply at the mercy of any number of too-good-to-be-true offers designed specifically to try and discredit the mortgage professionals you know and trust. Don't be fooled! Ultimately, there are ...
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Market Update
2007-10-13 09:28:00
"So far today, Bond prices remain relatively unchanged. Overall, they are still hovering near the important 200-day Moving Average, having touched it 12 of the past 16 trading days. The Producer Price Index (PPI), which measures inflation at the wholesale or producer level, was reported this morning and showed some inflation pressure. Bonds initially traded lower on the news, but have since improved higher. Bonds continue to trade sideways, bouncing back and forth above the 200-day Moving Average. Hayden Gerson is the Branch Manager of America One Mortgage Group located in Sherman Oaks. His focus is on mortgage planning and equity managment. He can be contacted via e-mail or by telephone (323) 333-5004. His website is full of wonderful information Sherman Oaks Mortgage
More About: Market , Update

What does the FDIC do?
2007-10-13 07:24:00
The Federal Deposit Insurance Corporation insures deposits of virtually all U.S. banks and savings and loan institutions up to $100,000 per customer (individual or business) in the event of a bank failure. Retirement accounts are insured up to $250,000. What FDIC covers • Savings accounts that you can add to, or withdraw from, at any time. • Checking accounts, Negotiable Order of Withdrawal, also called NOW accounts (checking accounts that earn interest), and Money Market Deposit Accounts, also called MMDAs (savings accounts that allow a limited number of checks to be written each month.) • Certificates of deposit (CDs), which generally require you to keep funds in the account for a set period -- the maturity. What FDIC doesn't cover • Stocks, bonds and mutual funds. • Investments backed by the U.S. government, such as Treasury securities and savings bonds. • The contents of safe deposit boxes. Even though the word deposit appears in the name, under federal ...

South Bay-Beach Cities: 55+ Housing
2007-10-12 20:45:00
This is the first of a series about 55+ housing in the South Bay/Beach Cities .All of us who live in the South Bay / Beach Cities of Manhattan , Hermosa, Redondo and El Segundo know we will be forever young. This may be why there is no housing for people who are 55+ in the immediate beach cities. We have lots of two story townhouses and homes but very little in the way of one level condos with elevator access or even single story homes. There are a few 55+ rental units in El Segundo, Manhattan Beach and Redondo Beach but that's it. The closest we have are a few condo units in El Segundo, a few one level townhomes in Manhattan Village ( which sell at a premium over the 2 story townhouses) and the condos along the Esplanade.So where do you go when you can't manage lugging groceries up the stairs but want to stay in the area. Right now the best place is Torrance. Currently there are nine complexes that are designated as 55+ housing. They range in price from the mid $200,000's for a sm...
More About: Housing

Real Estate Market: What the media isn't telling you
2007-10-12 09:11:00
I was watching the evening news tonight and again, I was told how bad the local real estate market is. I hear that next year is going to have the biggest drop in values since 1992. This is the same media that has been telling us for the last three years that "the bubble is going to burst" and to take cover. Here are a couple of things to consider: 1. The bubble burst about two years ago, borrowers were forced to take out interest only and negative amortization loans in order to afford a property. 2. Borrowers that never should have been able to qualify for loans were getting risky loans. Only six months ago there were a couple banks allowing 100% financing as high as $2,000,000. 3. Many people were spending more then they made on a regular basis. Last year the nation saved -25% of their income. That means for every $1.00 they made, they spent $1.25. How does this happen? Credit Cards, and home equity were the major players. People were simply using home equity as a means to affo...
More About: Media , The Media , Estate , Real Estate , Real Estate Market

Mortgage Market Update
2007-10-12 08:14:00
Initial Jobless Claims were reported at 308,000, which was below expectations of 315,000. The data suggests the labor market continues to be resilient and this is weighing on Bond prices this morning. The Balance of Trade for August showed a slightly lower than expected deficit of -$57.6 billion, which also represented the narrowest deficit since last January. This is a result of the weaker Dollar, which makes our products less expensive to foreigners. Import Prices fell a bit during September, by 0.2%. This is good news for inflation, as the bond market is especially sensitive to inflation risks from imports because of the weak Dollar. So far, Bond prices have been unable to make a positive move higher on this good inflation news. But the downward pressure appears to have subsided, possibly putting the Bond in a position for a bounce higher later today. Technically, Bonds are just slightly below the floor of support at the 50-day Moving Average, which is presently at $...
More About: Market , Mortgage , Update , Mort

No more Down Payment Assistance says the Feds
2007-10-12 04:16:00
Within the last ten years, credit-challenged homebuyers have used a regulatory technicality that lets them get FHA mortgages without putting their own money down, while at the same time avoiding subprime loans. Around 7,000 buyers per month were using this technicality, now the feds are shutting it down. The new policy means that prospective homebuyers with less then perfect credit will have to act quickly if they want to buy houses without putting any money down. Otherwise, they will have to save for down payments or wait for the FHA to roll out its own zero-down program. The issue being debated is a controversial method of putting together the down payment for a house. Most less then prime lenders require down payments of at least 5 percent which is difficult for those looking to buy a house with less them prime credit. The good news is that for those borrowers, loans insured by the FHA require smaller down payments, starting at only 3 percent. Lenders require down payments for...
More About: Payment , Assist

CMG Home Ownership Accelerator = HUGE SAVINGS
2007-10-11 09:08:00
Learn more about the Home Owners hip Accelerator ® The Home Ownership Accelerator® revolutionizes home financing by making one simple change in your financial life. It combines your checking account with your home loan. So you flow all of your personal cash against your loan balance. Why is this simple change so powerful? The money currently in your checking account earns close to nothing. In the Accelerator account, your money will "earn" your home loan rate (a much better return) because: Your income lowers your monthly balance. The lower balance saves you interest. The saved interest becomes extra principal payment. This further lowers your balance, saving more interest. This frees up even more money to reduce principal. This cycle repeats itself each month, compounding your interest savings and accelerating the reduction of your debt. Discover how the power of your own cash flow could significantly accelerate your home loan's pay down, saving you thousands in interest ...
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Refinancing Rush Pushes Mortgage Applications Up
2007-10-11 08:46:00
Here is the latest data from the Mort gage Bankers Association: The Mortgage Bankers Association said its seasonally adjusted index of home loan application activity increased 2.4% to 652.0 in the week ended Oct. 5. The index has been fairly range bound in recent weeks, after slipping to about 607 both in February and again in July, and rising as high as about 691 in March. The trade group's gauge of home purchase applications gained 2.1% to 420.2, and the refinancing measure rose 2.7% to 2,003.2 on a seasonally adjusted basis last week. Many homeowners are locking in to a fixed rates, while others are happy to refinance to historic rates. Refinancing requests represented 46.2% of total applications last week, up slightly from 46.0 the prior week, the MBA said. Adjustable-rate mortgages accounted for 13.6% of the total, down from 13.8%. Average 30-year fixed mortgage rates increased 0.08 percentage point to 6.40% last week, which is 0.13 point higher than the same week a year...
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US Subprime Crisis Will Not Peak Until 2009
2007-10-11 07:21:00
The U.S. subprime housing crisis will not peak until 2009 and total defaults could reach $150 billion, rating agency Standard and Poor's said on Tuesday, but robust emerging markets would help keep global growth strong. S&P expected the world economy to grow 3.6% in 2007 and 3.5% in 2008. The U.S. economy would lag at 2% in both years, down from 2.9% in 2006. "World growth remains strong despite the weaknesses seen in the U.S. economy -- especially in emerging markets because of healthy domestic demand conditions and export strength to non-U.S. market," S&P said in a report released in Mumbai. "The fact that the U.S. slowdown is concentrated in housing, which has relatively low import content, helps," it said. Emerging markets were far less vulnerable to credit market turmoil than during previous crises because of the capital flows attracted by high economic growth coupled with improved corporate governance standards, S&P said. "This still leaves plenty of opportunity for th...
More About: Subprime , Crisis , Peak , Rime , Prim

Are you Pre-Approved?
2007-10-11 05:38:00
Before you begin to shop for a new home, you should set up a time to meet with me so we can figure out how much you can afford. This will put you in a better position as a buyer. That’s when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. The difference between the two terms will be crucial when you decide to make an offer on a house. To get pre-qualified for a loan, I will collect information about your debt, income, and assets. We’ll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. I will issue you a pre-qualification letter indicating the amount you are pre-qualified to borrow. It is important to understand that a pre-qualification letter is just an estimate of what you are eligible to borrow, not a commitment to lend. Getting pre-approved for a loan gives you competitive advantage when the time comes to bid on a home because y...
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Explanation on How Option ARMs Work
2007-10-11 04:03:00
Option ARM, Pay Option ARM, Pick a Pay, Flex Pay ARMs, there are a lot of names for the least understood loan on the planet. Most option ARMs are based on one of three indexes: the 11th District Cost of Funds Index (the COFI), the 12-month moving Treasury average (the MTA), or the one-month London Interbank Offered Rate (the 1-month LIBOR). All of these move up and down roughly together, but the COFI has the smoothest ups and downs, the LIBOR is the most volatile (sometimes rocketing upward or plunging downward in only a month or two) and the MTA lies in the middle. The rate on an option ARM is adjusted monthly, but the minimum payment is adjusted annually and remains fixed for a year. If rates rise afterward, the minimum payment doesn't cover all of the interest charged. When that happens, you owe more on the mortgage at the end of the month than at the beginning of the month, even after making that minimum payment. This phenomenon is called negative amortization. The Recast O...
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The scoop on what interest rates are doing.
2007-10-11 00:12:00
Yesterday's Fed Meeting Minutes pressured Bonds lower - why? The main reason was the less vigilant tone towards inflation. The Fed didn't change their bias, but the fact that the Fed showed increasing concern on economic growth and was less vocal on the threat of inflation had Bond traders thinking that nobody is in the Bond's corner if inflation is allowed to emerge. Speaking of inflation, since the Fed rate cut in September, the value of the US Dollar has declined against foreign currencies and this is inflationary. How? The US Dollar's decline makes things overseas cost more because you need more US Dollars to purchase the same item. This downward pressure on the US Dollar has applied some selling pressure on Bonds in recent weeks. There are no economic reports set for release today so the bond market will take direction from Stocks, which saw the Dow and S&P 500 finish at an all time high yesterday. Should Stocks falter, Bonds may recover some of yesterday's losses....
More About: Interest Rates , Scoop , Interest , Rates , Doing

Fed Rate Drop = CD rates decreasing
2007-10-10 11:34:00
For the past few years, people who have been willing to bank online have reaped the benefit of high-yield accounts. Unfortunately, the Fed's 50 basis point cut means savers can pretty much kiss 5 percent goodbye. Providers of high-yield CDs, money markets and money market funds will struggle to meet that benchmark in the weeks ahead and, by all indications, 5 percent yields could be a thing of the past within a month. "Banks aren't going to jump on this rate drop immediately," says Alenka Grealish, managing director of the banking group at Celent, a research and consulting firm. "They're probably going to be reactive and look at each other. No one wants to be the first to stick their neck out and drop the rate because their competitors will pause and hope that they can win some business from them. No one wants to be the first to blink. But eventually they'll move in a pack; they always do." Grealish says that banks remain deposit hungry and the high-yield ...
More About: Rates , Rate , Drop

San Francisco Real Estate Market Update
2007-10-10 11:16:00
The Northern California real estate market continues to hold steady. Overall, median home prices remain strong and inventory remains plentiful in most areas. Many home buyers and sellers are realizing that in order to successfully buy or sell a home, they have to meet at middle ground. This market has its advantages for home buyers and sellers. Read on. San Francisco : The median sale price for a single family home in San Francisco in August was $900,000 with 66 sales compared to July at $865,000 with 291 sales. The median in sale price for condos, lofts & coops in August was $791,000 with 57 sales compared to July at $750,000 with 222 sales. The median sale price for 2-4 unit buildings in August was $1,342,000 with 14 sales compared to July at $1,280.000 with 49 sales. I find it very interesting to see sales prices in all categories up while we're seeing a huge drop in the number of sales.
More About: Estate , Real Estate , Real Estate Market , Market

Los Angeles Real Estate Market Conditions
2007-10-10 11:11:00
The Los Angeles housing market area has been very active for the last few years and prices have cooled during the last year. But when the Southern California real estate market heats up the inherent demand pushes buyers further into the suburbs in search of affordable housing. The areas nearest to the urban centers remain in high demand even when the housing market cools and the demand for outlying areas decreases. With increasing traffic on the roads and freeways and the cost of gasoline climbing almost daily, many home buyers decide to move to locations that are close to their workplace and are willing to pay a higher price or do without some amenities in order to save the stress, strain and cost of those long commutes from work. There are now more properties on the market than the last few years and with a larger inventory of homes for sale,buyers have more to chose from and are able to take their time while considering a purchase As the summer buying season begins, built up in...
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National Association of Realtors Forecast
2007-10-10 09:45:00
The summer has been tough – historically high temperatures in many parts of the country, Midwest floods, and almost everywhere major airline flight delays. Housing didn’t have such a great summer either, with home sales and price appreciation still waiting to recover. The subprime mortgage mess didn’t help either. So everyone wants to know: now that the summer is over, when can we expect the housing sector to get back to normal? There’s actually a sequence of events we should look for that need to happen before housing is back on track, and as each of these occurs, the closer the housing recovery will be. Let’s take a look at them. Mortgage Rates Will Stablize Favorably Despite the headline news coverage of turmoil in the mortgage market, mortgage rates have actually been falling for borrowers who take out prime conforming loans. Because these borrowers account for the majority of home buyers, affordability conditions for most buyers have improved. FHA loans – the trad...
More About: Realtors , National , Association , National Association of Realtors , Forecast

Mortgage Forecast for the week of 10/07/2007
2007-10-10 04:06:00
This coming week should be another juicy one as far as the economic calendar is concerned, with several reports and releases that will have the power to move the markets. Of special note, Tuesday brings the release of the "Meeting Minutes" from the last Federal Reserve Board meeting - and unlike the carefully crafted wording of the formal Policy Statement that is released just following the meeting - the Minutes are the "Fed Unplugged", including commentary and conversation during the meeting by all attending Fed Board members. Dallas Fed President Richard "Loose Lips" Fisher is often a loose cannon, sometimes blurting out off the cuff comments on the economy almost uncontrollably...so it will be interesting to see if the meeting contained any wild cards. Remembering that when Bond prices move lower, home loan rates worsen - we can see in the chart below that Bond prices were slammed lower on Friday, shown by the large red "candle" on the right hand side of the chart. Bonds also w...
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10 Things a New Homeowner Should Know..
2007-10-10 03:02:00
Congratulations.. you just bought your first house... but there are some things you really need to know before you open the door. Most of us were renters before we bought a home. When you moved in you got a key and a number to call if you had any problems. Many landlords wouldn't make repairs and we lived in some bad conditions. Sometime we didn't call because we were afraid they would raise the rent if we had too many problems. Often we didn't realize there was a problem and just lived with a leaky tap or electric outlets that didn't work. Now that you are a homeowner you need to know more about owning a home then how to turn on the lights. Home ownership is wonderful but it can also be a lot of work. The biggest mistake new owners make is not knowing when there is a problem. The second mistake is not taking care of small problems before they become major problems. A leaky faucet may cost $40 to repair. A water leak that goes unrepaired and causes a mold problem could cost $10,...
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Bank Of America: Possible 1 Billion Loss
2007-10-10 01:38:00
Bank of America Corp. may be the next big U.S. bank to suffer consequences from the subprime mortgage crisis. According to analysts at Sanford Bernstein, Charlotte, N.C.-based BofA is looking at a $1 billion write-down of mortgage securities and leveraged loans when it reports its third-quarter earnings next week. BofA is the largest bank in the Tampa Bay area with 24 percent market share and $15.3 billion in deposits as of June 30, 2006, according to the most recent figures available from the Federal Deposit Insurance Corp. In a note to investors, analysts Howard Mason and Michael Howard write that BofA (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) are expected to reveal a combined $3 billion in losses for the quarter. BofA, JPMorgan Chase, Charlotte-based Wachovia Corp. (NYSE:WB), Washington Mutual Inc. (NYSE:WM) and Wells Fargo & Co. (NYSE:WFC) are all scheduled to report their third-quarter results between Oct. 17 and 19. BofA's leveraged loan losses could be $700 million...
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Interest Rates Can Make or Break Your Financial Security
2007-10-10 00:56:00
If you’re like 67 percent of Americans, you have more wealth in your house than in all your other investments combined. The question is, do you really understand how your interest rate is affecting your short and long term financial situation? According to “Borrow Smart, Retire Rich” author Todd Ballenger, a few concepts go a long way in securing your financial future. There’s a saying in the financial world that those who understand interest earn it, and those who don’t, pay it. If you’re looking to build your net worth or establish some financial security, it’s time to become more knowledgeable about interest, and specifically about how your home’s interest rate can be working for you--or against you--in your long term financial plan. If you’re like most Americans, you probably haven’t put much thought into how your interest rate will affect your long term net worth. That’s because most consumers lose focus at the point of sale. At the time you were getting a...
More About: Security , Interest Rates , Financial , Break , Interest

Annual Mortgage Reviews Bring Borrowers Closer to Achieving Financial Goals
2007-10-10 00:54:00
Annual Mortgage Reviews Bring Borrowers Closer to Achieving Financial Goals Yearly reviews are a great way to keep on track with your financial goals. You’re probably already meeting with your financial advisor and other asset manager for quarterly or annual reviews, and you should do the same with your Mortgage Planner as well. An annual mortgage check-up is an ideal way to make sure your mortgage is still having the maximum positive impact on your overall financial plan. A lot can happen in one year. The market can take turns that can open up new opportunities, such as reduced interest rates, new loan products or changes in home values. Furthermore, your personal and financial situation could be mildly to radically different than it was just 12 months prior. Perhaps one or more of the income earners got a raise or lost a job. Maybe you received an inheritance. Even a minor, one-year change in one of your kids’ college plans could impact your financial situation in a...

Southern CA:.. So... Where are the Foreclosures?
2007-10-09 17:40:00
The figures in the media on California foreclosures are astonishing. Numerous articles seem to be saying that almost every home in California and Los Angeles County is now or will be in foreclosure. Many feel that the Beach Cities.... Manhattan, Hermosa, Redondo and El Segundo will soon see prices plummet by 40%-50% within the next few months.I'm not saying we won't see our share of troubles if the credit crunch continues but I'm not as sure as others seem to be that we are going to see massive foreclosures and prices dive through the floor in our little slice of paradise.. No question that sales volume is down and sellers are getting realistic about the value of their homes. At this time it appears that homes that were priced way too high are finally being priced at the level they should have been 6 months ago. That doesn't mean prices won't decline... they will as the market is changing and financing is more stringent but perhaps not to the level of many predictions.As far as...
More About: Foreclosures , Southern , Hern

Understanding Credit Scoring & Credit Repair
2007-10-09 12:02:00
Understanding Credit Scoring & Credit Repair Credit remediation is a subject consumers often face with fear and trepidation, and for good reason. With the exception of recognizing that the best score wins, the average home shopper knows very little about the whole credit scoring process. Sub-prime borrowers who are eager to move into A-Paper territory often find themselves at a loss when trying to find ways to upgrade their credit history. The good news is there are ways to improve less-than-perfect credit scores and obtain a loan for the home you really want. The first step in the process is making sure that you have a current copy of your credit report. Congress recently amended the Fair Credit Reporting Act so that consumers may now receive one free credit report annually. There are three major credit bureaus: Equifax, Experian, and Transunion. Since entries can vary across bureaus, you’ll want to request a free report from each of the three companies. (Go to www.annualcr...
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Don’t Pay Points, Please!
2007-10-09 11:44:00
So you’re in the market for a mortgage. After hearing about all the options and products, your head is probably spinning. If that weren’t enough, after you pick your mortgage you then have to decide whether to pay points, and how many. What is a point anyway? Points are prepaid interest. One point equals one percent of the mortgage amount. One point on a $200,000 mortgage is $2,000. People are often tempted to pay points because it will reduce their interest rate. And why not? If it saves you money in the long run, then it must be good. But in the real world, it usually doesn’t work out that way. Let’s look at an example: You take on a $200,000 mortgage with a 30-year fixed-rate. Your lender offers 8 percent with no points, or 7.75 percent with one point, or 7.50 percent with two points, and so on. Generally one point equals a quarter of a percentage point. It’s not a hard and fast rule, but it usually works out that way. The 8-percent/zero point...

My thoughts on the Mortgage Meltdown
2007-10-09 11:42:00
Often times people ask me my take on the mortgage meltdown. I think that right now the lenders are really sitting back and waiting to see what happens. My crystal ball says that within the next 3-6 months the jumbo mortgages will be back on the market, and stated income loans will always be here. Once the prices drop a little more, I expect the market to bottom out within the next 24 months. Don't get caught up in what the media is saying, they love to report bad news, otherwise they would not have a job. If you have any thoughts on the matter, please post a comment.
More About: My Thoughts , Thoughts , Mortgage , Mort